Central Banking
WAMZ members commit to single currency
According to this article from This Day, published Tuesday 2 January, West African Monetary Zone member countries have expressed commitment to move forwards to a single monetary zone by 2009.
ECB member bank buys gold
The Daily Telegraph in London reported Wednesday 3 January that a member of the European Central Bank system had begun buying bullion, the first such purchase in years.
RBI's Reddy on dynamics of balance of payments
In the speech 'Dynamics of balance of payments in India' given on 16 December Y V Reddy of the Reserve Bank of India said the gross volume of capital account transactions has been rising at a rapid pace, with bi-directional flows.
Central banks will give less of the same in 2007
According to this article published by Bloomberg on Tuesday 26 December, current forecasts suggest there might be fewer changes in key central bank interest rates in 2007.
IMF paper on large international reserves hoarding
The IMF Working Paper 'Financial versus monetary mercantilism: Long-run view of the large international reserves hoarding' says that the sizable hoarding of international reserves by several East Asian countries has been frequently attributed to a modern…
BoJ's Fukuma on economic & financial developments
In the speech 'Recent economic and financial developments in Japan' given on 24 November Toshikatsu Fukuma of the Bank of Japan said Japan's economy continues to experience a sustained period of moderate expansion with domestic and external demand…
BoJ's Fukui on developments in Japan's economy
In the speech 'Developments in Japan's economy in 2006 and the outlook for 2007' given on 25 December Toshihiko Fukui of the Bank of Japan said Japan's economy is expected to continue its moderate expansion in the coming year.
BIS papers on financial globalisation
On 19-20 June 2006, the BIS held its fifth Annual Conference, on Financial Globalisation, in Brunnen, Switzerland. The BIS published Papers from the event on 28 December.
New name mentioned for NBP president
Polish daily Gazeta Wyborcza reported Monday 1 January that President Lech Kaczynski is considering appointing Prof. Jerzy Zyzynski, head of the Department of Public Economy of Warsaw University, as the next president of the National Bank of Poland.
China may use Singapore in managing reserves
China could manage its massive foreign exchange reserves according to the "Temasek Model" of Singapore, according to Wu Xiaoling, vice-president of the People's Bank of China.
Slovenia brings in euro with no hiccups
Slovenia successfully adopted Europe's single currency, the euro, on Monday 1 January, crowning its 15-year transition from a republic in socialist Yugoslavia.
Sweden's Riksbank unanimous on recent rate rise
Minutes released Tuesday 2 January showed Swedish central bank policymakers were unanimous in raising the repo interest rate by 25 basis points to 3.00 percent on 14 December.
ECB's Liikanen sees inflation risks
European Central Bank Governing Council member, Erkki Liikanen, said there were still upside risks to inflation in the eurozone, Finnish national broadcaster YLE reported on Tuesday 2 January.
Report says BoJ to consider rate rise this month
The Bank of Japan will likely consider raising interest rates as early as this month, the Yomiuri newspaper reported on Monday 1 January.
Philadelphia Fed Business Outlook Survey, Dec 2006
According to the firms surveyed for the Philadelphia Fed's December 2006 Business Outlook Survey, overall economic conditions in the region's manufacturing sector declined slightly in December. Indicators for general activity, new orders, and unfilled…
A huge blow to Thailand's financial credibility
According to this article from The Nation, published Friday 22 December, the Bank of Thailand and Finance Ministry have shot themselves in the foot this week.
IMF paper on implementing inflation targeting
The International Monetary Fund Working Paper "Implementing inflation targeting: Institutional arrangements, target design, and communications" focuses on three elements of inflation targeting most closely associated with transparency.
Richmond Fed's Lacker on the economic outlook
In the speech 'Economic outlook' given on 21 December Jeffrey Lacker of the Federal Reserve Bank of Richmond said it's too soon to say price increases have moderated enough to put policymakers at ease.
Bank of Slovenia joins Central Bank Gold Agreement
The central bank of Slovenia has joined the Central Bank Gold Agreement which limits gold sales by central banks, the European Central Bank said Friday 22 December.
UAE's Al Suwaidi sees union of 'one form' by 2010
The governor of the UAE central bank told reporters Friday 22 December that one form of a Gulf single currency union will be introduced by the current deadline of 2010.
Fundanga on Bank of Zambia's management programme
In the speech 'The Bank of Zambia's management development programme for managers' given on 4 December Caleb Fundanga of the Bank of Zambia said the inclusion of a module on the Core Functions of the Bank of Zambia is designed to provide knowledge on the…
Israel's Fischer on dollarization
In the speech 'Dollarization' given on 15 December Stanley Fischer of the Bank of Israel asks if dollarization, including full dollarization, should be avoided, why join EMU?
BOJ minutes show divergence with markets on views
Minutes from the Bank of Japan's 15-16 November policy board meeting published Friday 22 December showed some members saw a "divergence" between the central bank and market participants over how to assess the economic climate in light of some weak data.
BOT's Tarisa says no new curbs planned
The head of the Bank of Thailand, Tarisa Watanagase, said Friday 22 December that further measures to curb international investors' funds would not be introduced.