Central Banking
Mersch - ECB to raise rates if growth as expected
European Central Bank monetary policy remains accommodative and should be tightened further if the eurozone economy grows as expected, ECB Governing Council member Yves Mersch said on Thursday 7 September.
BMA to be replaced by central bank
Bahrain has issued a law setting up a central bank, which replaces the Bahrain Monetary Agency, Trade Arabia reported Thursday 7 September.
Fed Reserve Bank of St Louis Review, Sep/Oct 2006
The latest edition of the St Louis Fed's Review for Sep/Oct 2006 includes the article 'Do Inflation Targeters Outperform Non-targeters?' The article says ten years of empirical studies of inflation targeting have not uncovered clear evidence that…
BOJ's Mizuno on recent economic developments
In the speech 'Recent financial and economic developments and monetary policy' given on 2 August (published 4 Sep) Atsushi Mizuno of the Bank of Japan said until recently, the greatest challenge for Japan's financial system was to overcome the NPL…
Norges Bank paper on inflation targeting
The Norges Bank Working Paper "Flexible inflation targeting and financial stability: Is it enough to stabilise inflation and output?" investigates empirically whether a central bank can promote financial stability by stabilising inflation and output.
St Louis Fed's Poole on understanding the Fed
In the speech 'Understanding the Fed' given on 31 August William Poole of the Federal Reserve Bank of St. Louis said inflation expectations remain "quite well controlled" but any incoming data suggesting otherwise will prompt an appropriate policy…
SF Fed paper on sovereign debt crises
The Federal Reserve Bank of San Francisco Working Paper "Sovereign debt crises and credit to the private sector" argues that, through its effect on aggregate demand and country risk premia, sovereign debt restructuring can adversely affect the private…
RBA's Battellino on retail finance
In the speech 'Developments in Australian retail finance' given on 22 August Ric Battellino of the Reserve Bank of Australia said there were grounds for believing that household finances are in better shape than expected.
Deputy dogfight in the RBA corral
According to this recent article from The Sydney Morning Herald, two empty boardroom chairs at the Reserve Bank of Australia will present a rare visible sign of tensions between the central bank and Canberra.
RBNZ's museum opened Wednesday 6 September
The Reserve Bank of New Zealand announced Wednesday 6 September that its Museum will be officially opened tonight by Peter Hillary, on behalf of Sir Edmund Hillary, the only living New Zealander portrayed on New Zealand's bank notes.
Fed's Poole says US inflation under wraps
U.S. inflation is under control right now and the economy is unlikely to suffer from "cascading weakness," St. Louis Federal Reserve Bank President William Poole said in an interview on Tuesday 5 September.
Central Bank of Iceland introduces changes
Organisational changes went into effect at the Central Bank of Iceland on Friday 1 September, including the merger of two departments, the central bank said.
IMF's Rato sees 5% global growth in 2006
The global economy should maintain its strength this year, with growth likely at around 5 percent, IMF Managing Director Rodrigo Rato said on Tuesday 5 September.
EU may curb central banks on cross-border deals
EU internal market commissioner Charlie McCreevy wants to curb the power of central banks and national financial supervisory authorities to intervene arbitrarily in cross-border deals, the Financial Times reported Wednesday 6 September.
ECB's Weber says 2007 rate outlook open
European Central Bank council member Axel Weber told reporters in Frankfurt late on Tuesday 5 September that eurozone interest rates may have to rise next year.
St Louis Fed's Central Banker, Fall 2006
The St. Louis Fed has published the Fall 2006 edition of its Central Banker magazine. In the article "More district banks choose the Fed as their regulator" Julie Stackhouse, senior vice president, Banking Supervision and Regulation asks bankers and…
Central Bank of Ireland, Quarterly Bulletin 3/2006
The Central Bank and Financial Services Authority of Ireland has published its Third Quarterly Bulletin for 2006. According to the Bulletin, growth prospects for the domestic economy remain positive.
Atlanta's Guynn on four decades in central banking
In the speech 'Reflections on four decades in central banking' given on 22 August Jack Guynn of the Federal Reserve Bank of Atlanta said that revolutionary change in banking and financial services is a major part of the nation's continuing economic…
BIS paper on risk and liquidity in system context
This BIS Working Paper explores the pricing of debt in a financial system where the assets that borrowers hold to meet their obligations include claims against other borrowers.
RBA's Lowe on risk measurement
In the speech 'Risk measurement - A central bank perspective' given on 5 September Philip Lowe of the Reserve Bank of Australia said the RBA accepted that banks had effectively managed the risk to their own balance sheets.
Fed's Bernanke on productivity
In the speech 'Productivity' given on 31 August Ben Bernanke of the Federal Reserve said America's productivity probably will keep growing solidly for some time to come, an important force in bolstering living standards.
Central bankers are more like Santa than Scrooge
This recent article from Bloomberg says that Alan Greenspan changed the image of central bankers during his eighteen year term running the Federal Reserve and even made the job seem glamorous.
Fair value accounting for financial instruments
The BIS Working Paper "Fair value accounting for financial instruments: some implications for bank regulation" identifies issues that bank regulators need to consider if fair value accounting is used for determining bank regulatory capital and when…
Frederic Mishkin sworn in as Fed board member
Frederic S. Mishkin on Tuesday 5 September took the oath of office as a member of the Board of Governors of the Federal Reserve System.