Central Banking
Philadelphia Fed Business Outlook Survey, Apr 2007
According to the firms surveyed for the Philadelphia Fed's April 2007 Business Outlook Survey, activity in the region's manufacturing sector was basically unchanged again this month.
Term structure transmission of monetary policy
Under bond-rate transmission of monetary policy, the authors of this Bank of Canada Working Paper show that a generalized Taylor Principle applies, in which the average anticipated path of policy responses to inflation is subject to a lower bound of…
Communicating monetary policy to financial markets
This European Central Bank article reviews the main effects of the ECB's external communication on monetary policy, with a focus on expert audiences in financial markets and the media.
National Payment System South Africa 95 to 05
The National Payment System Department of the South African Reserve Bank published a document on Wednesday 18 April entitled The National Payment System in South Africa - 1995 to 2005.
Sweden's berg on increased financial integration
In the speech 'Increased financial integration - future challenges' given on 19 April Svante berg of the Sveriges Riksbank said financial integration is increasing rapidly in Europe, and this will lead to better conditions for economic growth, but that…
ECB's Weber says pressure on prices remains
European Central Bank governing council member Axel Weber told Handelsblatt newspaper in an interview published Friday 20 April that the ECB can't yet identify an end-point to its current cycle of interest rate increases.
Risks to inflation projections remain, says Paramo
Jose Manuel Gonzalez-Paramo, European Central Bank governing council member, said Thursday 19 April that although risks to eurozone inflation projections remain, ECB monetary policy remains accommodative.
Trichet says FX rates should reflect fundamentals
European Central Bank president Jean-Claude Trichet said Friday 20 April that too much volatility in foreign exchange rates is undesirable and exchange rates should mirror economic fundamentals.
King 'determined' to get UK prices down-report
The Yorkshire Post reported Friday 20 April that Bank of England governor Mervyn King has said the central bank is get inflation back on track to its 2 percent target.
Eurogroup's Juncker sees no panic on euro
Eurogroup President Jean-Claude Juncker said Friday 20 April there is no is no reason for over concern on the strength of the euro.
King finally writes his 'Dear Gordon' letter
Bank of England governor Mervyn King had to explain to UK chancellor Gordon Brown this week why inflation had exceeded the bank's target. This article by John Berry of Bloomberg looks at King's failure to be boring.
EU warns over ABN Amro interference
The European Commission warned the Netherlands Thursday 19 April against meddling in any takeover bid for Dutch bank ABN Amro.
Yogesh Anand leaving the RBNZ for the BIS
Reserve Bank of New Zealand Chief Information Officer Yogesh Anand is leaving the Bank to take up the role of Head of Information Technology Services for the Bank for International Settlements (BIS) in Basel, Switzerland, the RBNZ said Thursday 19 April.
ECB's Trichet on credit derivatives
In the speech 'Some reflections on the development of credit derivatives' given on 18 April Jean-Claude Trichet of the ECB said the credit derivatives industry may have become complacent over market dangers, and called for greater transparency and…
ECB Monthly Bulletin, April 2007
The European Central Bank published its April 2007 Monthly Bulletin on Thursday 19 April. In the report the ECB said monetary policy remains on the "accommodative side", with key ECB interest rates moderate and ample liquidity in the euro area.
Sweden's berg on current monetary policy
In a speech given on 18 April Svante berg of the Sveriges Riksbank said he argued for a 25 basis point rate hike at the Riksbank's last monetary policy meeting on March 29 and was against the majority decision not to change rates.
ECB's Bini Smaghi on central bank independence
In the speech 'Central bank independence: from theory to practice' given on 19 April Lorenzo Bini Smaghi of the ECB said fiscal discipline is important, and highlighted that out of control spending will undermine monetary policy.
Central Bank of Ireland, Quarterly Bulletin 2/2007
The Central Bank and Financial Services Authority of Ireland has published its Second Quarterly Bulletin for 2007. According to the Bulletin, price increases are set to continue due to the economy's dependence on imported oil and the poor performance of…
Dutch intervention is a central banking mistake
According to this article published Thursday 19 April by The Telegraph, it is rather odd for the Dutch central bank to release a statement on the ABN Amro break-up bid.
Japan's Fukui reiterates that deflation is easing
Bank of Japan governor Toshihiko Fukui told a quarterly meeting of BoJ branch managers Thursday 19 April that the Japanese economy is expanding moderately and deflationary pressure is easing.
BoJ report sees continued moderate expansion
The Bank of Japan said in a quarterly report published Thursday 19 April that Japan's regional economies are showing signs of continued moderate expansion.
Hungary's central bank appoints new spokesperson
Hungary's central bank announced on Wednesday 18 April it has appointed Judit Iglodi-Csato as the bank's spokesperson to replace Gabor Missura. the Portfolio website reported.
New DG of Ireland's central bank announced
The governor of the Central Bank of Ireland , John Hurley, Thursday 19 April announced the appointment of Tony Grimes as Director General Designate of the Central Bank and Financial Services Authority of Ireland.
Central bank autonomy: Lessons from global trends
The IMF Working Paper "Central bank autonomy: Lessons from global trends" calculates indexes of central bank autonomy (CBA) for 163 central banks as of end-2003, and comparable indexes for a subgroup of 68 central banks as of the end of the 1980s.