Central Banking
New acting governor for Nepalese central bank
The government of Nepal has appointed Krishna Bahadur Manandar as the acting governor of Nepal Rastra Bank, the country's central bank. The temporary appointment comes after the suspension of governor Bijayanath Bhattarai.
Keeping rates low in Japan "could hurt growth"
Two members of the board of the Bank of Japan have dropped strong hints that the central bank is very much in tightening mode, suggesting that a continuation of low interest will hurt the economy.
Another rate hike in prospect in Poland
The Polish finance ministry has forecast that inflation in June will top the central bank's 2.5% target for the first time in over two years, making a rate rise more likely to ease growing price pressures in the fast-growing economy.
Business sentiment remains upbeat in Japan
The latest edition of the Bank of Japan's widely-followed Tankan business sentiment poll, published on 2 July, shows that businesses remain upbeat about the country's economic prospects.
Olmert ends Bank of Israel's wage dispute
Ehud Olmert, the prime minister of Israel, managed to push through a new wage agreement for the Bank of Israel before relinquishing the finance ministry role he has held in a temporary capacity.
Nepal's central bank governor "suspended"
Bijay Nath Bhattarai, the governor and chairman of Nepal Rastra Bank, the central bank of Nepal, is reported to have been suspended from these positions.
Korea's CPI rises 2.5% in a year
South Korea's consumer price index (CPI) rose to within the central bank's inflation target in June, according to preliminary figures from the country's National Statistical Office.
NZ lawmakers to review monetary policy framework
Lawmakers in New Zealand are set to consider new measures to widen the focus on monetary policy and provide the central bank with more policymaking tools.
The "butterfly effect" of small economies
This Reserve Bank of Australia Working Paper studies the implications of foreign-induced indeterminacy for the conduct of monetary policy in a small open economy.
Examining inflation target uncertainty
In this Bank of Japan Working Paper, the authors analyse the interaction between private agents' uncertainty about inflation target and the central bank's data uncertainty.
New RBNZ research bulletin
The Reserve Bank of New Zealand recently released the June 2007 edition of its research bulletin. The first article of this issue looks at how monetary policy influences the general price level.
New Bank of Chile paper on inflation expectations
This paper studies the relationship between inflation compensation and inflation expectations in Chile. The results show that inflation-expectations movements account for about only 25% of the relative returns, indicating that premiums are a very…
PBoC upgrades growth and inflation forecast
The research bureau of the People's Bank of China says the country's economy is expected to grow 10.8% this year, the fastest rate in over ten years.
Shift to e-payments leads to Fed job cuts
The US Federal Reserve reductions in cheque processing is likely to result in more than 210 jobs being cut at the Minneapolis Fed, as consumers shift from paper checks to electronic payments.
IMF: global imbalances matter to Europe
According to an IMF working paper published in June, although Europe in the aggregate is a not a major contributor to global current account imbalances, its trade and financial linkages with the rest of the world mean that it will still be affected by a…
New ECB Research Bulletin
The European Central Bank released it latest Research Bulletin on 29 June. The bulletin contains articles on the international carry trade, financial integration and capital flows in the new EU member states and productivity growth in the euro area.
ECB's Gonzalez-Paramo on financial stability
In this speech delivered in Istanbul on 28 June 2007, Jose Manuel Gonzalez-Paramo, a member of the Executive Board of the European Central Bank, admits that the "analytical foundations are relatively new, as evidenced by the absence of a universally…
Surprise as de Rato resigns from IMF
Rodrigo de Rato, the managing director of the International Monetary Fund, has announced that he would leave the Fund after its next meetings in October. This will be three years after his appointment and before the end of the normal five-year term.
Minister hints at Japanese wealth fund
Japan's Financial Services Minister said on 29 June that the country should debate whether to set up a fund to manage its foreign currency reserves.
Eurozone business confidence remains high
Recovery in the eurozone remains on track and economic confidence dipped only slightly this month, according to the European Commission. Inflation remained steady at 1.9% in June, within the ECB's target range, according to a separate estimate by…
Thailand governor cool on currency risks
Bank of Thailand governor Tarisa Watanagase says she dioes not expect another currency crisis like the one which hit the country ten years ago.
BoC paper: fiscal and monetary interdependence
A new working paper by the Bank of Canada studies the interdependence between fiscal and monetary policies, and their joint role in the determination of the price level.
Chinense membership of FATF
The Financial Action Task Force has given approval for China to be a full member of the Financial Action Task Force on Money Laundering This is expected to assist the efforts of its banks to expand overseas.
BoE's Gieve: London's City will prosper
Sir John Gieve, a deputy governor of the Bank of England, discussed London's growth as an international financial centre, its effect on financial innovation and the impact of growth in money and credit for the UK economy.