Central Banking
Spain says ECB 'independent and professional'
Spanish economy minister Pedro Solbes told Reuters on Wednesday 20 December Spain supports the European Central Bank's policy and is in a different position to France.
Bank of Japan Monthly Report, December 2006
The Bank of Japan published the English version of its December 2006 monthly report on Thursday 21 December. In the report the BOJ said the economy continues to expand moderately although growth in consumer spending has been modest.
BoE's King: reform of international institutions
In the speech 'Through the looking glass: Reform of the international institutions' given on 21 December Mervyn King of the Bank of England said the IMF must focus on the spillover effects of economic policies and ensure its work is independent of member…
ECB's Tumpel-Gugerell on TARGET2-Securities
In the speech 'TARGET2-Securities meeting with market participants' given on 18 December Gertrude Tumpel-Gugerell of the ECB said safe and efficient clearing and settlement systems are essential for the overall functioning of the financial market and for…
Turkey's Yilmaz on dollarization
In the speech 'Dollarization - consequences and policy options' given on 14 December Durmus Yilmaz of the Central Bank of Turkey said it is apparent that the level of dollarization in Turkey is still high, which is an important challenge for monetary…
Kato on economic growth in the Arab countries
In the speech 'Institutions and economic growth in the Arab countries' given on 19 December Takatoshi Kato of the IMF said there is an enormous potential in the Arab region for improving the business environment.
Is the RBI being irrationally exuberant?
According to this article from Rediff News, published Saturday 16 December, asks whether the Reserve Bank of India's recent decision to raise interest rates is an exercise in "rear window" economics.
Chicago Fed National Activity Index, November 2006
The Chicago Fed National Activity Index for November 2006, published 21 December, was -0.26 in November, slightly up from -0.30 in October. All of the four broad categories of indicators in the index made negative contributions.
PBOC says Thailand has lessons for China
Thailand's recent financial turmoil holds lessons for China and shows that controls over the pace of currency appreciation are needed, a People's Bank of China researcher said Thursday 21 December.
Mozambique cb worried over oil dependence
The governor of the central bank of Mozambique, Ernesto Gove, said Wednesday 20 December in Maputo that he was "concerned with Mozambique's total dependence," on imported oil.
UAE central bank sees profits soar
The net profit of the UAE central bank is expected to reach Dh2.7 billion ($730 million) in 2007 while the projected revenues were Dh4.65 billion against expenditures of Dh1.95 billion, Gulf News reported.
Interview with RBI’s Bimal Jalan
In an interview with Money Control, published Wednesday 20 December, Dr Bimal Jalan, eminent economist and former Reserve Bank of India governor analyses the actions of the Thai central bank and gives his suggestions for other central banks.
BOT's Tarisa defends baht controls
Bank of Thailand governor Tarisa Watanagase in an interview with Bloomberg Thursday 21 December defended measures to control the appreciation of the baht and said the rules will be removed once "volatility" eases.
Maldives Monetary Authority - Annual Report 2005
According to the Maldives Monetary Authority's Annual Report 2005, the tsunami that struck the Maldives in 2004 has devastated the economy and the full economic impact of the disaster was felt in 2005 with real economic growth decelerating to negative 5…
Dallas Fed's Fisher: a wrap-up of the economy
In the speech 'A year-end wrap-up of the economy and a peek ahead' given on 19 December Richard Fisher of the Federal Reserve Bank of Dallas said rising inflation is a greater concern than a slowing economy and monetary policymakers may be forced to…
ECB's Trichet on the eurozone economy
In testimony to the European Parliament given on 20 December Jean-Claude Trichet of the ECB warned that eurozone inflation could rise and hover around 2 pct in both 2007 and 2008.
ECB Research Bulletin, December 2006
The European Central Bank launched a new regular publication on 20 December: the Research Bulletin. The edition includes an article on central bank communication by Michael Ehrmann.
Elements of optimal monetary policy design
This International Monetary Fund Working Paper reviews the relevant economics and social psychology literatures with a view to providing some insights into the question of optimal monetary policy committee design.
Thailand discovers fury of investors scorned
In 24 hours the Bank of Thailand has raised the threat of more widespread use of monetary shock therapy in Asia, according to this article by Bloomberg published Wednesday 20 December.
BoE committee voted unanimously to hold rates
The Bank of England's Monetary Policy Committee voted unanimously to hold its key repo rate unchanged at a five-year high of 5.00, minutes released Wednesday 20 December showed.
IMF's Kato on communications
In the speech 'Enhancing macroeconomic policies through communications' given on 18 December Takatoshi Kato of the IMF said the world economy has now seen several years of strong growth.
Review possible on GCC union deadline
Saudi Arabia's finance minister said Tuesday 19 December in an interview with Reuters the GCC states may have to review the 2010 target date for introducing the single currency after Oman's decision to miss the deadline.
Sharp FX moves not in global interest - Trichet
European Central Bank President Jean-Claude Trichet said on Wednesday 20 December that sharp and abrupt moves in currencies would not be in the interests of Europe, the US or the global economy.
NBP holds rates steady
The National Bank of Poland kept interest rates unchanged Wednesday 20 December, as widely expected, despite strong economic growth.