Central Banking
Zoellick to replace Wolfowitz at World Bank
American president George W. Bush has named Robert Zoellick, a former US trade representative, as a replacement for Paul Wolfowitz as president of the World Bank.
Johnson leaves the Fed
Karen Johnson, director of the Division of International Finance at the Federal Reserve Board, will step down after nearly a decade in this position.
Euro lending and money growth slows
The European Central Bank's current tightening cycle appears to be starting to make its mark. Mortgage lending growth in the eurozone has slowed to the lowest for more than three years.
Rates up in Norway and Malta, Poland steady
The central banks of Norway and Malta raised interest rates on 30 May, while rates remained unchanged in Poland.
Why worry about inflation? - Sri Lankan deputy gov
In this speech W.A. Wijewardena, Deputy Governor of the Central Bank of Sri Lanka, explains why "inflation is undoubtedly the public enemy number one."
The benefits of the SARB's transparency
This IMF Working Paper suggests that the increased transparency of monetary policy in South Africa since the late-1990s has helped to improve the accuracy of inflation and interest rate forecasts.
Australia's payments system review
The Reserve Bank of Australia formally initiated a consultation process for the review of its payments system on 29 May, with the release of a paper titled 'Reform of Australia's Payments System: Issues for the 2007/08 Review.'
Central Bank of Bahamas - Annual Report
Released in May, the Central Bank of Bahamas' annual report looks back at monetary policy as well as the broader economic environment affecting the island economy over the course of 2006. Looking ahead for 2007, the report provides details of a projected…
India's Reddy seeks lower inflation
Reserve Bank of India governor Y.V. Reddy says curbing inflation while managing the transition to a higher-growth path was the central bank's "overarching policy challenge."
RBNZ's Bollard gets second term
New Zealand's finance minister, Michael Cullen, reappointed Alan Bollard for a second five-year term, the Reserve Bank announced.
South Africa's Mboweni outlines inflation threats
Tito Mboweni, the governor of the South African Reserve Bank, has identified union-driven salary disputes and increasing food and oil prices as the main threats to the current inflation outlook in the country.
Rates on hold in Canada, Slovakia and Malaysia
A number of central banks have announced this week that interest rates will remain unchanged. Rates will remain on hold in Canada, Slovakia and Malaysia.
Israeli rates cut again
The Bank of Israel has cut interest rates by 25 basis points to 3.5%. The decision, announced on 28 May, comes as inflation remains below the central bank's 1 to 3% inflation target.
Ingves: The Riksbank and the Swedish economy
In this speech, Stefan Ingves, the governor of the Swedish Riksbank, outlines the recent changes the central bank has made to its communications strategy.
New IMF Survey
The latest IMF Survey includes articles on the Fund's role in exchange rate surveillance, the conclusions of its most recent "Global Financial Stability Report", and the economic outlook for Belgium, the Middle East and Central Asia.
CB independence under threat in New Zealand
According to this note by a New Zealand-based economic research company, Allan Bollard, the governor of the Reserve Bank of Zealand, has adopted an experimental "go for growth" monetary policy strategy. A move away from this approach could make the…
Bini Smaghi on "secondary objectives"
In his speech 'With or Without Prejudice to Price Stability? , Lorenzo Bini Smaghi, a member of the Executive Board of the European Central Bank, discusses what the central bank can do to achieve its so-called secondary objectives of monetary policy.
Henrique Meirelles: central banking natural
This article, from the International Herald Tribune, says Henrique Meirelles, the governor of the Central Bank of Brazil, has quickly mastered the central bankers' art of elusive communication.
New challenges for central bankers
In this speech, Ajith Nivard Cabraal, governor of the Central Bank of Sri Lanka, says central bankers need to look beyond a single price index in the objectives to ensure economic and price stability.
The importance of monetary aggregates
This ECB working paper presents a strong argument in favour of using monetary aggregates as an analytical tool for predicting future inflation.
Why is the dollar so high?'
In this paper, Martin Feldstein, once considered a frontrunner to replace Alan Greenspan as chairman of the US Federal Reserve, argues that a decline of the real value of the dollar that is large enough to reduce the current account deficit significantly…
Estimating potential output - Fed's Mishkin
In this speech, Frederic Mishkin, a governor at the Federal Reserve Board in Washington, provides a non-technical overview of academic research on the estimation of potential output, and important concept in monetary policy analysis.
New names for WB presidency
Some interesting names are being bandied about as potential replacements for Paul Wolfowitz as president of the World Bank, when he steps down next month.
Turkey's Yilmaz issues inflation warning
Inflation is expected to exceed the 4% target set by the government for the end of the year, Durmus Yilmaz, the governor of the Central Bank of the Republic of Turkey, has told the country's cabinet.