Central Banking
Norges Bank Economic Bulletin, October 2006
The latest edition of Norges Bank's Economic Bulletin for October 2006 includes the article "Forecasting in Norges Bank." In the article the authors analyse the current economic situation and the driving forces that will influence the economy in the…
Deutsche Bundesbank Monthly Report, October 2006
The Deutsche Bundesbank published the English version of its October 2006 Monthly Report on Friday 17 November. The report said the German economy has probably continued to expand at a fast pace in the third quarter, driven mainly by a strong…
Debelle on the Australian foreign exchange market
In the speech 'The Australian foreign exchange market' given on 17 November Guy Debelle of the Reserve Bank of Australia said the Australian dollar has been "remarkably stable" given the rapid growth of turnover in the local foreign exchange market.
Chicago Fed's Moskow on the US economic outlook
In the speech 'U.S. economic outlook' given on 16 November Michael Moskow of the Federal Reserve Bank of Chicago said the risk of inflation in the US remaining too high, rather than a slowing economy, is the Federal Reserve's main concern.
Serbia concerned on central bank independence
The governor of the National Bank of Serbia (NBS) has expressed concern that the independence of the central bank has been 'seriously compromised,' according to a report by the Financial Times on Monday 20 November.
Hungary's Jarai calls for new euro plan
A new convergence program is needed for Hungary to be ready to join the eurozone in 2011, Hungary's central bank Governor Zsigmond Jarai said on Thursday 16 November.
Trichet positive on global growth but sees risks
European Central Bank president Jean-Claude Trichet said Monday 20 November that the global economy is set for dynamic growth in 2007 but central bankers must remain vigilant as oil prices still threaten to stoke inflation.
PBOC's Wu may head futures exchange - report
People's Bank of China vice governor Wu Xiaoling may head the country's financial futures exchange in Shanghai starting next year, the Economic Observer reported Monday 20 November, citing unnamed insiders.
BOJ chief sees risk assessed rate rises
The Bank of Japan will adjust interest rates gradually while ensuring its policy actions remain supportive of the domestic economy and that growth remains sustainable, BOJ governor Toshihiko Fukui said Sunday 19 November.
ECB wants more clarity on Sepa for cards
The European Central Bank said Monday 20 November it has laid down a new set of objectives for payment card schemes to achieve in order to become Sepa-compliant, amid concerns that current provisions would lead to higher prices and a deterioration in…
Milton Friedman, Nobel Prize winner, 1912-2006
Milton Friedman, a Nobel Prize winner, and one of the most influential economists of the 20th century, died in San Francisco on Thursday 16 November, aged 94.
Philadelphia Fed Business Outlook Survey, Nov 2006
According to the firms surveyed for the Philadelphia Fed's November 2006 Business Outlook Survey, economic conditions in the region's manufacturing sector improved slightly in November.
New York Fed's Foreign Exchange Operations Report
According to the Federal Reserve Bank of New York's Treasury and Federal Reserve Foreign Exchange Operations quarterly report for July-September 2006, published 16 November, the U.S. monetary authorities did not intervene in the foreign exchange markets…
Poole on responding to financial crises
In the speech 'Responding to financial crises: What role for the Fed?' given on 16 November William Poole of the Federal Reserve Bank of St. Louis said the Fed should play as limited a role as possible in a financial market crisis and took aim at Fannie…
Gieve: Preparing for cross-border financial crisis
In the speech 'Practical issues in preparing for cross-border financial crises' given on 13 November Sir John Gieve of the Bank of England said central banks and regulators around the world need to rehearse dealing with a financial crisis in order to…
BoE's King on inflation and the UK economy
In a speech given on 16 November Mervyn King of the Bank of England said inflation will likely rise further above its 2 percent target in the near term before falling back to meet it.
BoE's Gieve says hedge funds pose stability risks
Bank of England deputy governor John Gieve has warned that hedge fund activity does pose short term risks to financial stability.
Dallas Fed chief sees dollar staying top currency
Federal Reserve Bank of Dallas President Richard Fisher said on Friday 17 November he does not expect a global shock that would be big enough to remove the dollar's status as the world's top currency.
Iran's Sheybani hails cooperation with Europe
Iran's central bank governor Ebrahim Sheybani on Friday 17 November praised the good cooperation between Iranian and European banks.
UAE has no plans to diversify into yen reserves
The governor of the United Arab Emirates central bank said Friday 17 November the UAE does not see the Japanese yen as an attractive currency to diversify into from its existing foreign exchange reserves.
IMF's Rato says more rate rises may be needed
International Monetary Fund managing director Rodrigo de Rato said in an interview with Bloomberg on Friday 17 November that central banks may need to increase interest rates further to keep inflation under wraps, amid faster global economic growth.
US renews calls for China yuan reform
US Deputy Treasury Secretary Robert Kimmitt on Friday 17 November called on China to move more quickly to reform its currency and said he would likely discuss the issue with Chinese officials at the Group of 20 meeting in Melbourne.
How far apart are two ACUs from each other?
The Bank of Japan Working Paper "How far apart are two ACUs from each other?: Asian Currency Unit and Asian Currency Union" examines the future evolution of the Asian currency arrangements from broader perspectives, including the optimal currency area…
ECB's Bini Smaghi on ageing and pension funds
In the speech 'Ageing, pension funds and household wealth allocation in the euro area' given on 15 November of the ECB said shifts in households' financial investments and liabilities complicate the ECB's analysis of money and credit growth.