Central Banking
Canada investigates inflation, wages and growth
A new working paper published by the Bank of Canada looks at the relationship between steady-state costs of inflation in a general equilibrium model, output growth and staggered nominal price and wage contracts.
Sri Lankan governor on poverty and inequality
Aijith Nivard Cabraal, the governor of the Central Bank of Sri Lanka, said that poverty and equality "are often the root causes of political, economic and social upheaval, tension and revolution."
Norway raises rates to 4.75%
The Central Bank of Norway has increased its key policy rate by 0.25% to 4.75%, despite acknowledging recent market turmoil.
Japan drains 2 trillion to stabilise rates
The Bank of Japan absorbed 2 trillion ($16.8 billion) from the markets on Wednesday 15 August after the overnight call rate dropped below the central bank's target rate.
Polish rates to rise soon
Halina Wasilewska-Trenkner, a monetary policy committee member at the National Bank of Poland, says interest rates will rise in either August or September this year.
Nigeria announces plans for new naira
Charles Soludo, the governor of the Central Bank of Nigeria, said Tuesday that the central bank is to drop two zeros from the Naira and introduce a new set of notes and coins.
Burundi appoints new governor
Gaspard Sindayigaya will replace the recently-arrested Isaac Bizimana as the new governor of the Central Bank of Burundi.
BoJ survey shows little change in public mood
A Bank of Japan poll found most consumers remain pessimistic about the country's economy.
Recent events indicate Argentine stability
Martin Redrado, the governor of the Central Bank of Argentina, said that recent market volatility showed the strength of the country's monetary and financial policy.
BoE's MPC all agreed to hold rates
Minutes of this month's meeting at the Bank of England revealed all nine members of the monetary policy committee were in favour of this month's rate hold.
Riksbank deputy discusses monetary policy
Barbro Wickman-Parak, the deputy governor of the Riksbank, gave her views on June's rate rise at a meeting held at the Stockholm office of Swedbank, a commercial bank.
Trichet claims markets close to normal
Jean-Claude Trichet, the president of the European Central Bank (ECB), said that the current "period of market nervousness" is coming to an end.
UK inflation stats lower chances of rate hike
The UK's inflation rate has fallen below its target 2% rate for the first time in 15 months, fuelling speculation that interest rates have peaked at 5.75%.
NZ finance minister knocks CB migration plans
Michael Cullen, New Zealand's finance minister, criticised the Reserve Bank of New Zealand's proposal to limit immigration in order to curb rising house prices in parliament today.
Israel prepares for the worst
The Bank of Israel's core staff participated in a two-day drill exercise on Monday and Tuesday as part of the central bank's business continuity programme.
Inflation will remain low - Taiwan governor
Perng Fai-nan, the governor of the Central Bank of the Republic of China (Taiwan), said that central bank strategy had ensured inflation remained low and stable, and that it would continue to do so.
Australia's move to a floating currency
A new paper from the International Monetary Fund (IMF) praises Australia's handling of its move to a floating currency in 1983.
Trichet answers back on inflation and jobs
Jean-Claude Trichet responded to criticisms that the euro hampers employment in an interview published 11 August.
National Bank of Ukraine - Annual Report 2006
The National Bank of Ukraine said that conditions improved in 2006 after a poor 2005 because household incomes increased as unemployment declined. But inflation did rise from 10.3% to 11.6%.
Useful statement from Jean-Claude Trichet
CentralbankNews.com is pleased to see the ECB making constructive use of its website in the current crisis. On Tuesday August 14 its home page featured prominently a statement by Jean-Claude Trichet, the president, about the current financial market…
ECB injects a further €47.7 billion
After adding €155.9 billion ($212 billion) to money markets late last week, European Central Bank (ECB) lent heavily again on Monday.
Australia expects 3% inflation by year end
The Reserve Bank of Australia has revised its inflation forecast to the top of its 2%-3% target range following its latest consumer price index (CPI) figures.
Greenspan to advise Deutsche Bank
Deutsche Bank, the German investment and retail bank, announced on Monday that it will retain Alan Greenspan, the former governor of the Federal Reserve, as a senior adviser.
Dollar sell-off claims prompt Chinese reaction
A spokesperson for the People's Bank of China has countered reports in the British media that the central bank plans to use its vast dollar reserves as a political weapon against the United States.