Central Banking
McDonough for Santander board
Banco Santander Central Hispano SA has named William J. McDonough, former president of the Federal Reserve Bank of New York, as a member of its non-executive board.
Bernanke to join Paulson in China
Federal Reserve chairman Ben Bernanke will follow in the footstep of his predecessor, Alan Greenspan, by accompanying the US Treasury secretary to Beijing next month.
Malaysia holds rates as inflation moderates
As expected, Malaysia's central bank kept interest rates steady at 3.5% for the fifth meeting in a row on Friday. The central bank said lower oil and commodity prices, together with moderate domestic price and wage increases, were keeping inflation in…
Canada maintains inflation target for next 5 years
The Bank of Canada renewed its inflation target of 2%, measured as the change in the core consumer price index, with a symmetrical band of 1% either side, for the next five years.
Turkish rates stable despite high inflation
The Turkish central bank announced on 23 November that it will keep its policy rate unchanged at 17.5% and the lending rate at 22.5% after its penultimate monetary policy committee meeting for 2006.
Euro entry unpredictable - Hungarian CB chief
The National Bank of Hungary believes it is no longer possible to say when the country will be ready to join the euro.
SA's Trevor Manuel to lead G20
South Africa's veteran finance minister, Trevor Manuel, has called on the group of 20 (G20) finance ministers and central bank governors to "build windmills in the calm of current global financial stability."
Lower growth, inflation forecast in US - survey
The rate of growth in US output over the next few quarters looks slower now than it did just three months ago, according to 51 forecasters surveyed by the Federal Reserve Bank of Philadelphia.
Focus on distortions - Blanchard
In his Mundell-Fleming Lecture, MIT economist Oliver Blanchard suggests that the outcome of potential government intervention to address current global imbalances is uncertain.
BoK chief on financial supervision
In this speech, the governor of the Bank of Korea, Seong-tae Lee, suggests that financial reforms and stricter supervision standards ensured that the damage from the 2003 credit card crisis was minimal.
Columbian paper on cb staff costs
This research paper by the Columbian central bank finds that a central banks' labour demand is strongly determined by the country's population, economic development level and changes in operative functions, as well as by staff costs.
Chicago Fed inflation conference report
The December 2006 "Chicago Fed Letter" summarises the findings of a conference hosted by the Federal Reserve Bank of Chicago's Inflation Research Center on price stability.
Fiji ponders remittances' effects
The governor of the Reserve Bank of Fiji, Savenaca Narube, suggested that the central bank would like to see remittances channelled towards investment projects and other "productive purposes".
New Thai governor on IT
In a speech called "Inflation targeting - a reflection on Thailand's experience," the newly-appointed governor of the Bank of Thailand, Tarisa Watanagase, cautioned that the framework should not be seen as a panacea.
Explaining US imbalances
In this new NBER working paper, Fabrizio Perri and Alessandra Fogli argue that an external imbalance is a natural consequence of the decline in the volatility of the US business cycle.
SWIFT broke laws - EU committee
SWIFT, an international financial data transfer agency, breached European data privacy laws in handing over personal data to American investigators, according to a report by a European Union committee.
Korea raises reserve ratios
Korea's central bank will raise reserve requirements on short-term deposits by 40% next month, the governor, Lee Seong-tae, announced on Thursday.
Sri Lanka could grow at 8% in 2007
Sri Lanka's economy could grow at 8% in 2007 if the violence and security concerns in the country are reduced, the central bank governor said in an interview.
UK's Lomax a surprise dissenter in rate decision
Rachel Lomax, a deputy governor at the Bank of England, was a surprise dissenter at the rate-setting meeting in November, minutes released on Tuesday showed.
PBOC establishes South Pacific office in Sydney
The People's Bank of China (PBOC) announced the establishment of its representative office for the South Pacific in Sydney. The office started operation on November 19, 2006.
BoJ cautiously optimistic on economic prospects
The Bank of Japan released a statement by Toshihiko Fukui, the governor of the central bank, on 22 November indicating moderated optimism about the country's economic prospects.
Norwegian Pension Fund biggest in Europe
Norway's central bank announced on 21 November the Government Pension Fund, now valued at 207 billion Nkr ($32.5 billion) and managed by the Norges Bank, is now the largest pension fund in Europe.
Europe's new large-value payment system on target
Europe's new large-value payment system is on schedule to go live in 2007 says the European Central Bank in its third annual report on TARGET2.
Pursuing financial stability - RBI speech
In the speech 'Central Banks and Risk Management: Pursuing Financial Stability' given on 21 November, Rakesh Mohan, deputy governor of the Reserve Bank of India discusses various aspects of central banks' role in the pursuit of financial stability.