Central Banking
Kuwait removes dinar's dollar peg
The central bank of Kuwait de-linked its currency, the dinar, from the depreciating dollar on 20 May and opted for an exchange rate mechanism tied to a basket of other currencies.
Latest St Louis Fed Review published
The Federal Reserve Bank of St. Louis has published its May/June issue of its Review, a journal covering national and international economic developments, particularly focusing on their monetary aspects.
Trichet interview
This Financial Times interview with Jean-Claude Trichet, President of the European Central Bank, covers a variety of topics from the German economy and eurozone growth, to the need for further structural reforms on the Continent, and the prospects of the…
SARB's Guma on SA debt market
In this speech, Dr X.P. Guma, the Deputy Governor of the South African Reserve Bank argues that sovereign debt markets will need to address the inability of adjacent emerging and developing to raise financing in their own currencies beyond their own…
Malaysian governor on Islamic Finance
Dr. Zeti Akhtar Aziz, Governor of the Central Bank of Malaysia gave a speech at the 4th IFSB summit on 15 May 2007 regarding the need for a cross-sectoral approach in Islamic financial services.
A new RTGS system for Iraq
The Iraqi central bank has reportedly started with the implementation of a new electronic real-time gross settlement payment system.
Bank of Canada Review, Spring 2007
The Bank of Canada published its Review for Spring 2007 on Thursday 17 May. The Review includes the article 'Renewing the International Monetary Fund: A review of the issues'.
Fed's Kroszner on globalization & capital markets
In the speech 'Globalization and capital markets: Implications for inflation and the yield curve' given on 16 May Randall Kroszner of the Federal Reserve said the ease that investors can move money around the globe has spurred a "currency competition"…
Philadelphia Fed Business Outlook Survey, May 2007
According to the firms surveyed for the Philadelphia Fed's May 2007 Business Outlook Survey, activity in the region's manufacturing sector improved slightly in May.
Thai fin min wants to keep control of BoT
Reuters quoted a senior official this week as saying the Thai Finance Minister Chalongphob Sussangkarn wants to keep the power to appoint or fire the Bank of Thailand governor.
Papers for Kansas Fed payments event
Non-banks are becoming increasingly prominent in payments systems around the world. The three-day conference look at the implications of this heightened presence for innovation, competition and risk.
Riksbank board divided on rate hold decision
The Swedish Riksbank's monetary policy meeting was divided in its recent decision to leave the rate unchanged, according to reports.
ECB head says UK should join eurozone
Jean-Claude Trichet, president of the European Central Bank, questioned the UK's refusal to join the eurozone, in an interview in the Financial Times on 17 May.
Trichet supports hedge fund code of conduct
There is growing support around the world for a proposed voluntary code of conduct for hedge funds, European Central Bank president Jean-Claude Trichet said recently.
Europeans react to Wolfowitz departure
Following the announcement that Paul Wolfowitz, the under-fire president of the World Bank, will step down on 30 June, European government officials are calling for the Bank to rebuild its credibility.
If China's market bubble flattens, will SA pop?
This article, from the South African "Business Report", examines what the possible outcome to the country will be if Chinese stock markets undergo a sudden correction.
ECB Monthly Bulletin, May 2007
The European Central Bank published its May 2007 Monthly Bulletin on Thursday 17 May. In the report the ECB reiterated that it is exercising strong vigilance on inflation risks.
SARB Monetary Policy Review, May 2007
The South African Reserve Bank published its Monetary Policy Review for May 2007 on Tuesday 15 May. South Africa's targeted inflation should remain within its range, but the target could be threatened by adverse developments and a poor response to past…
Deutsche Bundesbank Monthly Report, April 2007
The Deutsche Bundesbank published the English version of its April 2007 Monthly Report on Wednesday 16 May. The report said German GDP growth in the first quarter is expected to have slowed compared with the fourth quarter last year.
Fed's Bernanke on the subprime mortgage market
In the speech 'The subprime mortgage market' given on 17 May Ben Bernanke of the Federal Reserve said a rash of mortgage problems is not expected to affect the broader economy and the Fed would move to crack down on abusive lending practices.
Fed's Kohn on financial stability & policy issues
In the speech 'Financial stability and policy issues' given on 16 May Donald Kohn of the Federal Reserve said the explosive growth of the credit derivatives market has helped spread risks, but also created new channels to transmit shocks to the economy.
Fukui again says rates must rise
In further comments on Japan's interest rates, Bank of Japan governor Toshihiko Fukui said Thursday 17 May rates should increase gradually to support economic growth amid price stability.
Greenspan joins Pimco in first post-Fed role
Former Federal Reserve chairman Alan Greenspan has signed on as a consultant to Newport Beach-based bond investment giant Pacific Investment Management, known as Pimco, the Wall Street Journal reported Wednesday 16 May.
Swaziland to introduce RTGS system
The Central Bank of Swaziland announced Wednesday 16 May that it will soon be introducing a Real Time Gross Settlement (RTGS) system at the beginning of June 2007.