Central Banking
Economic activity up - Chicago Fed
The National Activity Index for the United States, published today by the Federal Reserve Bank of Chicago, was 0.11 in June compared with -0.32 in May.
Papademos sees increased European potential growth
Lucas Papademos, the vice president of the European Central Bank (ECB), says that some countries in the eurozone have recently seen productivity-driven increases in their potential growth rate.
Inflation spike expected in Sri Lanka
The Central Bank of Sri Lanka has warned of higher inflation in July, indicating that the important Colombo Consumer Price Index is set to spike again.
Hungary keeps rates on hold - as expected
As expected by analysts the National Bank of Hungary, the country's central bank, kept its policy rate unchanged today at 7.75% after its monthly review of interest rates.
China's economy not overheating - official
Yao Jingyuan, the chief economist of China's National Bureau of Statistics, says the country's economy is not overheating. Yoa says economic efficiency is improving and "the economic structure is being optimised."
New FSA chief sounds warning call
The new chief executive of the British Financial Services Authority, Hector Sants, has warned that banks and financial institutions may not have done enough to protect themselves and their investors against the impending market downturn.
Gono questions Mugabe's fuel plan
Zimbabwe central bank governor, Gideon Gono, has warned the government of Robert Mugabe, the country's president, that its plan to ban private fuel purchases in foreign currency could provide a further drag on the world's fastest shrinking economy.
Further rate rise in China
The People's Bank of China has raised its key benchmark bank lending and deposit rates by 27 basis points. It was the third rate hike of the year in the booming economy.
Brash enters Kiwi fracas
Don Brash, the former governor of the Reserve Bank of New Zealand, has entered the ongoing debate about the relations between the central bank and the ministry of finance.
ECB calls for new debit card schemes
The European Central Bank (ECB) would like to see the emergence of new debit card schemes to rival the dominance of Maestro.
Fed's minutes for June meeting
The Federal Open Market committee's predominant policy concern remained the risk that inflation would fail to moderate as expected, the minutes to the July meeting explained.
Draghi testifies to parliament
Stronger economic growth has meant a smaller fiscal deficit, noted the governor of the Bank of Italy, Mario Draghi, but Italy's structural deficit remains substantial.
Reserve Bank of Fiji - annual report 2006
The central bank's key economic challenge for 2007, says the governor, Savenaca Narube, is to reverse the widening trade deficit.
BoE's Besley: rates should move higher, faster
Raising rates sooner will help bring inflation back to target faster, explained Timothy Besley, an external member of the Bank of England's rate-setting MPC, at a seminar organised by the CEPR in London.
Interim board for new Qatari watchdog by December
Qatar's finance ministry will appoint an interim board to manage the proposed single financial sector regulator by December this year.
Portfolio credit risk in central banks
This report presents the findings of a task force, established in early 2006 and consisting of nine Eurosystem central banks to analyse and discuss the use of portfolio credit risk methodologies by central banks.
Fed's Plosser on housing and monetary policy
The recent reversal of the boom in housing activity and house prices in the United States has contributed to a slowdown in economic growth, says Charles Plosser, the president of the Federal Reserve Bank of Philadelphia, in this speech. But, he argues,…
Analysing hedge fund credit risk
This New York Fed Staff Report argues that the characteristics of hedge funds makes the use of counterparty credit risk management (CCRM) methodologies more difficult as they exacerbate market failures linked to agency problems, externalities, and moral…
Why Europe needs a banking charter
The authors of this IMF Working Paper argue that a full-fledged EU-level prudential regime that operates along-side national regimes - which they call a "European Banking Charter" - could harness market forces to establish a level playing field for…
Brazil makes 17th consecutive rate cut
Brazil's central bank made its 17th consecutive cut in the overnight lending rate on July 18, as inflation continued to be kept in check by the strong exchange rate.
Turkey's reserves hit record high
The Turkish central bank announced on Thursday that its foreign currency reserves had reached a new record level of $118bn on July 6.
FSA urged to take on retail banking regulation
John Tiner, who leaves the UK's Financial Services Authority (FSA) today after four years as chief executive, told an annual meeting that the oversight of retail banking should be consolidated, as the reasons that had led to a separate code were no…
Rate tightening agreed by Polish cb in June
At its most recent meeting, Poland's central bank agreed that rate tightening in the future was necessary, although the bank's policymakers were split over when a move should occur.
Inflation and growth in EMU - IMF paper
Differences in growth and inflation in the eurozone are small, but persistent, shows this working paper from the IMF.