Central Banking
International Journal of Central Banking, March 07
The March 2007 issue of the International Journal of Central Banking was published on Thursday 1 March. The latest issue includes the article "The mystique of central bank speak" by Petra M. Geraats of the University of Cambridge.
BSP's Tetangco on the Philippine economy
In the speech 'A tipping point and a rising tide is lifting up the Philippine economy' given on 20 February Amando M Tetangco of the Central Bank of the Philippines said economic and fiscal achievements in 2006 have created a positive momentum for the…
ECB paper on globalisation and euro area trade
As a major player in world trade, the euro area is strongly influenced by globalisation, but is far from being a passive spectator, according to the ECB Occasional Paper "Globalisation and euro area trade - Interactions and challenges" published March…
IMF's Rato on Middle Income Countries
In a speech given on 2 March Rodrigo de Rato of the IMF said he believes that reform of the Fund's governance is essential to the Fund's continued credibility and effectiveness.
Public finances 'an obstacle' to Czech euro bid
The current state of the Czech Republic's finances is an obstacle to the country switching to the euro, a top official at the Czech central bank (CNB) said in an interview published Friday 2 March.
Brazil's central bank econ director resigns
Brazilian central bank economic policy director Afonso Bevilaqua resigned Thursday 1 March citing "personal reasons" and an interest in "pursuing new projects," the central bank said in a statement.
New IMF chief economist nominated
International Monetary Fund chief Rodrigo de Rato said Wednesday 28 February he would recommend Simon Johnson, a professor at the Massachusetts Institute of Technology, as the IMF's new chief economist.
Romania not rushing on euro entry - report
Romania will resist European Central Bank advice to bring forward its target date for adopting the euro, opting instead for a more cautious path towards the single currency, the Financial Times reported Friday 2 March, citing central bank governor Mugur…
Hungarian cb switch to end clashes with government
According to an article published on Friday 2 March by Jurnalo, when Zsigmond Jarai leaves the National Bank of Hungary for the last time today (Friday) the government may well breathe a sigh of relief.
No recession coming says St Louis Fed chief
St. Louis Fed president William Poole on Friday 2 March rejected fears that the U.S. economy was heading into a recession, saying that while there "could be a recession," one isn't likely, echoing comments this week by former Fed chairman Alan Greenspan.
BIS Papers on evolving banking systems
BIS Papers from the 'Evolving banking systems in Latin America and the Caribbean: challenges and implications for monetary policy and financial stability', meeting of central banks of open economies in Latin America and the Caribbean, Jamaica, 26-27…
ECB's Trichet on governance and convergence
In the speech 'Governance and convergence: the state of play in the euro area' given on 28 February Jean-Claude Trichet of the ECB said the bank's monetary policy must be credible in ensuring price stability.
Opacity of a credible central bank and inflation
The Discussion Paper "Can opacity of a credible central bank explain excessive inflation?" from the University of Munich shows that, even in the absence of inflationary bias, a credible central bank may find it optimal to implement an accommodating…
BoE's Lomax on the MPC coming of age
In the speech 'The MPC comes of age' given on 28 February Rachel Lomax of the Bank of England highlighted that the central bank will fulfil its duty of meeting the inflation target rate over the medium term.
Fed's Kohn on the aging workforce
In testimony 'The aging workforce' given on 28 February Donald Kohn of the Federal Reserve said an aging U.S. population will hold down the growth of the labor force, threatening the economy's overall output and the wealth of future generations.
Kansas City Fed's Economic Review, 1st Quarter 07
The first quarter Federal Reserve Bank of Kansas Economic Review includes the article "Communicating a policy path: The next frontier in central bank transparency" which says in the last two decades, central banks have taken a variety of steps to…
China's market sideshow turns into main event
According to this article from Bloomberg, published Wednesday 28 February, the only thing that is surprising about this week's plunge in Chinese stocks is that anyone would be surprised.
BOJ says market should be ready for global flows
Bank of Japan governor Toshihiko Fukui told a forum on the money market Thursday 1 March that the Japanese money market should make necessary adjustments to be able to deal with growing global capital flows.
Greenspan says US recession possible, not probable
Former Federal Reserve chairman Alan Greenspan said a recession in the U.S. is possible, though not probable this year as excess inventory is being reduced quickly, according to people attending a CLSA Japan Forum in Tokyo Thursday 1 February.
Report says watchdog to probe ECB settlement plan
The European Central Bank's plans to establish an integrated securities settlement system in the euro zone will be examined by the region's competition watchdog, according to a report by the FT Thursday 1 February.
Kenya names new head of central bank
Economics professor and think-tank director Njuguna Ndung'u was named as the new head of the Central Bank of Kenya on Thursday 1 March to replace the former governor who was suspended.
Thai central bank eases controls
The Bank of Thailand said Thursday 1 March it intends to further ease capital controls on inflows of foreign funds that were imposed in December to weaken the Thai baht.
Bini Smaghi on the governance of the euro area
In the speech 'The governance of the euro area (eight years on)' given on 27 February Lorenzo Bini Smaghi of the ECB said eurozone finance ministers should exercise greater discipline in their comments on exchange rates.
Fed Reserve Bank of St Louis Review, Mar/Apr 2007
The latest edition of the St Louis Fed's Review for March/April 2007 includes an article which examines the association between stock market booms and monetary policy in the United States and nine other developed countries during the 20th century.