Central Banking
Russia reiterates reserve diversification idea
The Russian central bank remains interested in further diversification of the currency structure of its gold and forex exchange reserves, its first deputy chairman said in a newspaper interview published on Tuesday 21 February.
CBN says currency change won't affect ECOWAS
The governor of Central Bank of Nigeria, Professor Charles Soludo, has said currency restructuring by the Federal government will not affect plan for common denomination by ECOWAS countries.
Independent central banks are rare breed in Asia
According to this article published Wednesday 14 February by Bloomberg, Asian leaders seem to believe that the art of central banking is too important to be left to bankers.
Brazil will add reserves while liquidity high
Brazil's policy of increasing foreign reserves should continue as long as global imbalances support a steady flow of dollars into the country, central bank director Paulo Vieira da Cunha told analysts in New York.
IMF's Rato on reform in Latin America
In the speech 'The way forward for reform in Latin America' given on 16 February Rodrigo de Rato of the IMF said Latin America's drift to the political left suggests voters are uncertain, and in some cases dissatisfied, with their economies.
Deutsche Bundesbank Monthly Report, January 2007
The Deutsche Bundesbank published the English version of its January 2007 Monthly Report on Monday 19 February. The report said the German economic recovery continued in the fourth quarter of 2006.
ECB paper on emerging market economies
The ECB Working Paper "What drives business cycles and international trade in emerging market economies?" investigates the role of domestic and external factors in explaining business cycle and international trade developments in fifteen emerging market…
BoE paper on Asia's choice of exchange rate regime
In the Bank of England Working Paper "Does Asia's choice of exchange rate regime affect Europe's exposure to US shocks?" the authors use a stylised three-country model to analyse how the transmission of US shocks to Europe might be affected by Asia's…
MAS's Kiang on recent financial developments
In the speech 'Brief review of recent financial and economic developments in Singapore' given on 13 February Lim Hng Kiang of the Monetary Authority of Singapore said Singapore, being at the heart of Asia, provides global financial institutions a unique…
Key US Democrat warns on inflation target idea
It would be a "terrible mistake" for the U.S. Federal Reserve to adopt any form of inflation target to guide policy, a senior Democratic lawmaker was quoted as telling the Financial Times on Tuesday 19 February.
Ex BoJ's Fujiwara says rate rise needed
The Bank of Japan should raise interest rates before the current rock-bottom rates trigger an asset bubble in the economy, a former BOJ deputy governor said on Monday 19 February in an interview with Reuters.
GCC chiefs to meet in April - report
Governors of Gulf Arab central banks will meet on April 3 and 4 in Saudi Arabia to discuss plans for monetary union and other issues, an official at the United Arab Emirates central bank was quoted Tuesday 20 February by Reuters.
Omi says BoJ should support growth
Japanese finance minister Koji Omi told parliament on Tuesday 20 February that the Bank of Japan's monetary policy should support economic growth, as it prepares to start a two- day meeting to decide interest rates.
Tarisa says BOT aiming to convert to bank deposits
Bank of Thailand governor Tarisa Watanagase said Tuesday 20 February the central bank will not need to issue the same number of bonds as it did in the past once it is authorised by a new law that will allow it to take deposits from commercial banks.
ECB's Tumpel-Gugerell still sees SEPA from Jan 08
European Central Bank board member Gertrude Tumpel-Gugerell said Tuesday 20 February the plan for a single euro payments area (SEPA) is still on track to begin operations from 1 Jan next year, despite disputes over organising cross-border operations.
Bank of Japan faces hard decision on interest rate
According to this article from MarketWatch, published Tuesday 20 February, the Bank of Japan will have a hard decision to make on interest rates at the conclusion of its policy meeting Wednesday.
Tumpel-Gugerell on tripartite protocol
In a speech given on 16 February Gertrude Tumpel-Gugerell of the ECB said over the next six months, the ECB and eight central banks will be working closely with the Central Bank of Bosnia and Herzegovina on a needs assessment programme funded by the…
St Louis Fed's Poole on US saving
In the speech 'US saving' given on 15 February William Poole of the Federal Reserve Bank of St. Louis said a significant decline in long-term real interest rates started in the early 1990s, when the estimated real yield averaged around 3.5 percent.
PBOC raises bank reserve requirement again
The People's Bank of China said Friday 16 February it has raised bank reserve requirements, with effect from 25 February.
Bank of England ready for 'more turbulent times'
The Bank of England said Monday 19 February it will be able to keep inflation under control even if inflation becomes more unpredictable than during the past decade.
Volcker says surging inflation in India worrying
India's surging inflation was a matter of concern but the Reserve Bank's monetary response to the issue was on track, renowned economist Paul Volcker said on Sunday 18 February.
Libya, Tunisia sign currency agreement
Libya and Tunisia have signed a currency exchange agreement of the Libyan and Tunisian dinar.
Central banks face rising pressure from politician
According to this article published on the International Herald Tribune's website on Monday 19 February, political pressure is intensifying on central banks.
Cyprus cb governor's comments
According to an article the Cyprus Mail published this week, recent comments by the governor of the Central Bank of Cyprus are unprofessional and undermine the credibility of the institution.