Central Banking
Bini Smaghi says ECB rate may rise further
ECB board member Lorenzo Bini Smaghi told La Repubblica in an interview published Tuesday 23 January that the ECB's rate is "still accommodating" and may have to rise further if growth expectations are confirmed to avoid excess liquidity.
SF Fed's Yellen on the US economy in 2007
In the speech 'The US economy in 2007: Prospects and puzzles' given on 22 January Janet Yellen of the Federal Reserve Bank of San Francisco said the Federal Reserve's interest rate policy is about right even as a "gangbusters" labor market may fuel…
BIS' Knight on challenges of monetary policy
In the speech 'Objectives and challenges of monetary policy' given on 19 January Malcolm Knight of the BIS said a number of central banks intent on preventive action have actually turned to the use of supervisory instruments to promote credit restraint.
Bies on the economic outlook, mortgage market
In the speech 'Economic outlook and developments in mortgage markets' given on 18 January Susan Bies of the Federal Reserve said weakness in U.S. home building appears not to have spilled over to other sectors, while a slowing in broader price rises is…
Rato on ten years after the Asian currency crisis
In the speech 'Ten years after the Asian currency crisis: Future challenges for the Asian economies and financial markets' given on 22 January Rodrigo de Rato of the IMF said Asian countries are more prepared to handle risks stemming from volatility in…
Why Oman pulled out of the single currency
According to this article from Gulf News, published Sunday 21 January, unique economic challenges mean that recent talk that the GCC monetary union is not necessarily possible could be right.
RBNZ's Spencer to switch to financial stability
Reserve Bank of New Zealand governor Alan Bollard announced Tuesday 23 January that assistant governor, head of economics, Grant Spencer, will move to become head of financial stability.
Chicago Fed's Moskow announces plans to step down
Federal Reserve Bank of Chicago president Michael Moskow confirmed on Monday 22 January he will retire on 31 August.
China's reserves plan 'won't hurt U.S. dollar'
There is only a small chance of any immediate fallout on the U.S. dollar resulting from China's decision to alter the way it plans to manage its $1.06 trillion in foreign exchange reserves, according to The Wall Street Journal.
Bank of Japan Monthly Report, January 2007
The Bank of Japan published the English version of its January 2007 monthly report on Monday 22 January. In the report the BOJ left its assessment of economic and financial developments largely unchanged, saying the economy continues to expand moderately.
Philadelphia Fed Business Outlook Survey, Jan 2007
According to the firms surveyed for the Philadelphia Fed's January 2007 Business Outlook Survey, economic conditions in the region's manufacturing sector improved in January.
Fukui on future challenges for Asian economies
In a speech given on 22 January Toshihiko Fukui of the Bank of Japan called for the monetary authorities in Asia to forge closer links to limit the effect of massive money flows into the region.
Richmond Fed's Lacker on the economic outlook
In the speech 'Economic outlook' given on 19 January Jeffrey Lacker of the Federal Reserve Bank of Richmond said the possibility of resurgent inflation remains the biggest risk to policymakers.
Stark on monetary policy: a view from the ECB
In the speech 'Objectives and challenges of monetary policy: a view from the ECB' given on 19 January Jurgen Stark of the ECB said the ECB retains the freedom to move interest rates whenever it considers it necessary to control inflation pressures,…
Why did the Bank of Japan freeze interest rates?
According to this article published by MoneyWeek on Monday 22 January, the Bank of Japan's decision last week to hold interest rates steady has unleashed a storm relating to its independence from political pressure.
Ministers concerned over settlement plan - report
European finance ministers have raised doubts about the European Central Bank's plan to provide its own settlement system for eurozone securities transactions, the Financial Times reported Monday 22 January.
ECB denies Trichet, Juncker, Almunia meetings plan
The European Central Bank denied a report on Monday 22 January which claimed Jean-Claude Trichet, Eurogroup chief Jean-Claude Juncker and EU commissioner Joaquin Almunia had agreed to hold informal meetings on the sidelines of the ECB's monthly press…
PBOC advisor says yuan rise may increase surplus
Further yuan appreciation could cause China's trade surplus to increase rather than shrink, a leading advisor to the Chinese central bank told a conference on Sunday 21 January.
ECB's Liikanen says inflation remains a big risk
European Central Bank Governing Council member Erkki Liikanen said there were still upside risks to inflation in the eurozone, Finnish national broadcaster YLE reported Sunday 21 January.
Role of MAS enhanced with Banking Amendment Bill
The Monetary Authority of Singapore's role as the central bank was enhanced on Monday 22 January when Parliament passed the Banking Amendment Bill, Channel News Asia reported.
Buba's Weber warns on German wage hikes
Bundesbank president Axel Weber warned Friday 19 January that sharp wage increases in Germany could set off a new round of inflation and hinder the European Central Bank's price stability goal.
Taking personalities out of monetary policy
The Working Paper 'Taking personalities out of monetary policy decision making? Interactions, heterogeneity and committee decisions in the Bank of England's MPC' from the Centre for Dynamic Macroeconomic Analysis identifies significant interactions…
RBNZ announces role for Steve Anderson at IMF
The Reserve Bank of New Zealand announced Friday 19 January that the Head of Risk Assessment and Assurance, Steve Anderson, has been appointed to the International Monetary Fund's (IMF) External Audit Committee.
Fed's Bernanke on fiscal challenges facing the US
In testimony 'Long-term fiscal challenges facing the United States' given on 18 January Ben Bernanke of the Federal Reserve said the economy could be gravely hurt if Social Security and Medicare aren't revamped, and he called on lawmakers to tackle the…