Central Banking
Asean looking at ways to use growing FX reserves
South-East Asian nations plan to jointly set up a fund to finance infrastructure by exploiting heavy capital inflows, a senior Thai finance ministry official told reporters Monday 2 April.
SAMA chief says Gulf states to keep pegs
In the run-up to monetary union in 2010 Gulf Arab states are committed to dollar-pegged exchange rates and will need "exceptional efforts" to meet the deadline, the Saudi central bank chief told reporters on Tuesday 3 April.
Reserve Bank of New Zealand Bulletin, Mar 2007
The Reserve Bank of New Zealand published the March 2007 issue of its Bulletin on 30 March. In the Bulletin the Reserve Bank presents a framework for considering how fiscal policy affects the wider economy, an important issue for monetary policy.
Richmond's Lacker on inflation and unemployment
In the speech 'Inflation and unemployment' given on 29 March Jeffrey Lacker of the Federal Reserve Bank of Richmond focused on inflation expectations and emphasised central banks must not take anything for granted.
St Louis Fed's Regional Economist, April 2007
The St Louis Fed's Regional Economist for April 2007 includes the article 'Growth in Asia spurs oil price increases'. The rapid growth in China and India has led to an increase in demand for oil, which, in turn, has driven up prices. After adjusting for…
Understanding asset prices: an overview
This BIS paper reviews analytical work carried out by central banks that participated at the Autumn Meeting of Central Bank Economists on "Understanding asset prices: determinants and policy implications", which the BIS hosted on 30-31 October 2006.
Fed's Bernanke on the Community Reinvestment Act
In the speech 'The Community Reinvestment Act: Its evolution and new challenges' given on 30 March Ben Bernanke of the Federal Reserve said a U.S. law that requires banks to serve the less affluent has widened access to credit and helped increase home…
Supervisors must be professionals
According to this article by Jean Lemierre, published by The Banker, whether responsibility for banking supervision in the EU lies with national central banks or with separate agencies, it must be able to stand up to pressure.
PBOC to keep yuan stable, control credit
The People's Bank of China has pledged to keep the yuan stable at a reasonable level and allow market forces to play a fundamental role in setting the exchange rate.
SNB's Hildebrand on monetary policy
The Swiss National Bank's interest rate policy is still having an expansionary effect in the current economic climate, SNB board member Philipp Hildebrand told Swiss daily Finanz und Wirtschaft on Monday 2 April.
Trichet says inflation outlook faces upside risks
European Central Bank president Jean-Claude Trichet said in an interview published Monday 2 April the eurozone inflation outlook is still subject to upside risks.
Sarkozy wants `real conversation' with ECB
French presidential candidate Nicolas Sarkozy told reporters Monday 2 April he wants a "real conversation" with the European Central Bank on monetary policy, seeking a weaker euro currency to increase competitiveness.
Economist calls for more speed on China FX
China should step up efforts to establish its promised foreign exchange investment agency in order to strengthen macroeconomic controls, a prominent government economist said on Sunday 1 April.
Norway's Gjedrem on the economic outlook
In the speech 'The economic outlook - address to diplomats' given on 22 March Svein Gjedrem of Norges Bank said the bank would continue to tighten monetary policy and that interest rates would rise in the short term.
Uganda's Opiokello on risk management
In the speech 'Business continuity and risk management regional workshop in Uganda' given on 5 February David Opiokello of the Bank of Uganda said regional efforts towards a common monetary and political union of the countries in the region continue.
Phil Fed paper on competitive effects of Basel II
Analyzing the potential competitive effects of the proposed Basel II capital regulations on U.S. bank credit card lending, the authors of the Philadelphia Fed Working Paper "Competitive effects of Basel II on US bank credit card lending" find that bank…
RBA's Ryan on the kangaroo bond market
In the speech 'Some general observations on the kangaroo bond market' given on 29 March Chris Ryan of the Reserve Bank of Australia said there are some clearly identifiable factors behind the particular strength in the Kangaroo bond market in recent…
Cleveland Fed's Pianalto on national currencies
In the speech 'The internationalization of national currencies' given on 27 March Sandra Pianalto of the Federal Reserve Bank of Cleveland said the United States benefits from the fact that a large share of world currency reserves is held in dollars.
Chicago Fed's Moskow on monetary policy in the US
In the speech 'The making of monetary policy in the US and the US economic outlook' given on 28 March Michael Moskow of the Federal Reserve Bank of Chicago said the US economy is likely to expand at a rate modestly below its long-run potential for the…
Prepare for Chinese economic change
According to this article by Stephen Roach, published by MoneyWeek on Friday 30 March, China has no choice but to continue monetary tightening as it tries to bring its rapidly growing and unbalanced economy under control.
FSF: Stormy markets require new risk thinking
The Financial Stability Forum said Thursday 29 March the recent turbulence in financial markets shows that market participants need to be prepared for the possibility of a major shift in investors' appetite for risk.
Two new members join PBOC committee
A senior official from the State Council and the chairman of the Bank of Communications have been appointed new members to the central bank's 13-member monetary policy committee, Shanghai Securities News reported Friday 30 March.
Gaspari doubts ECB rates will hit 4.25%
European Central Bank governing council member Mitja Gaspari told a news agency in an interview he had doubts about ECB interest rates reaching 4.25 percent by year-end, based on current information.
Bahrain's boom will continue says cb chief
Bahrain's economic boom is set to continue, boosted by economic and political reform and higher oil prices, Central Bank of Bahrain governor Rasheed Al Maraj said Thursday 29 March.