Central Banking
McCreevy warns over curbing NBP's powers
Charlie McCreevy, the European Union internal market commissioner, has warned the Polish government in a letter quoted by the Finanical Times on Wednesday 25 October that recent moves to curb the powers of the central bank may "put at risk the stability…
Fiscal indiscipline eroding Swaziland's reserves
A recent report suggests that fiscal indiscipline by the government has eroded Swaziland's foreign reserves in the past years.
Labour productivity developments in the euro area
This European Central Bank Occasional Paper provides a description and a discussion of some important aspects relating to recent productivity developments in the euro area.
Atlanta Fed paper on cross-border banking
The Federal Reserve Bank of Atlanta Working Paper "Cross-border banking: Challenges for deposit insurance and financial stability in the European Union" examines the implications that alternative regulatory structures may have for resolving failed…
Optimal reserve levels in emerging markets
The International Monetary Fund Working Paper "The optimal level of international reserves for emerging market countries: Formulas and applications" presents a model of the optimal level of international reserves for a small open economy that is…
Mboweni on the SARB and academia
In the speech 'The relationship between the South African Reserve Bank and academia' given on 23 October Tito Mboweni of the South African Reserve Bank said that the country's widening current account deficit posed a risk to the exchange rate of the rand.
Liikanen on Finland, the EMU and the euro
In the speech 'Finland, the EMU and the introduction of the euro' given on 20 October Erkki Liikanen of the Bank of Finland said many of the asymmetric shocks feared by the opponents to Finland's adoption of the euro have already been realised over this…
RBI's Reddy on payment and settlement systems
In the speech 'Payment and settlement systems - select issues' given on 20 October YV Reddy of the Reserve Bank of India said the RBI has formulated a 'Payment and Settlement Systems Vision' document for the use of banks, financial institutions as well…
Sterling sits pretty as volatility vanishes
According to this article from the Financial Times, published Tuesday 24 October, the UK's fiscal rules are superior to the eurozone's Stability and Growth Pact and the Treasury's opposition to joining the euro has been vindicated.
Poland's Samoobrona wants presence in NBP
Poland's Self-Defence (Samoobrona) party will propose its candidate for the post of deputy head of National Bank of Poland and is likely to be the Under Secretary of State in the Labour and Social Policy Ministry, Polish News Bulletin reported Monday 23…
IMF's Rato proposes Murilo Portugal as deputy
Rodrigo de Rato, managing director of the International Monetary Fund proposed the appointment of Murilo Portugal to the position of deputy managing director on Monday 23 October.
Oman launches Clearing House solution
The Central Bank of Oman's Automated Clearing House Solution (ACH) has been completed, HP Middle East announced.
Turkey's Yilmaz on necessity of stable prices
"Nothing is possible without price stability. If price stability is settled, economic growth and employment will be assured," Central Bank of Turkey president Durmus Yilmaz told reporters after a meeting he attended in Ankara Chamber of Industry (ASO) on…
BOK chief sees 2007 growth below 5 percent
Bank of Korea (BOK) governor Lee Seong-tae said Monday 23 October the country's economic growth will fall short of 5 percent next year due to the slowing global economy and sluggish domestic demand.
China plots next steps in key financial reforms
China mapped out its next steps in crucial financial reforms on Tuesday 24 October, saying that it would look to make the yuan more flexible and free up interest rates.
Italy's Draghi on regulation of financial markets
In the speech 'Measures for the protection of savings and the regulation of financial markets' given on 26 September Mario Draghi of the Bank of Italy said the quality of financial regulation is gauged by its effectiveness in preventing improper conduct,…
Belgium's Quaden on price and wage rigidities
In the speech 'Price and wage rigidities in an open economy' given on 12 October Guy Quaden of the National Bank of Belgium said understanding how prices and wages are determined and how they fluctuate over the business cycle is of course a crucial issue…
IMF paper on currency unions
Against the background of the theory of optimum currency areas, the IMF paper "Beauty queens and wallflowers - Currency unions in the Middle East and Central Asia" analyzes possible sequences for establishing a currency union (CU) in the Middle East and…
Croatian National Bank - Annual Report 2005
According to the Croatian National Bank's Annual Report 2005, macroeconomic developments in 2005 were characterised by an acceleration of economic growth.
ECB paper on public sector procurement legislation
The ECB Working Paper "National central banks and Community public sector procurement legislation: a critical overview" finds that an examination of the Public Sector Procurement Directive reveals no substantive grounds on which to argue that NCBs should…
Tumpel-Gugerell on Europe's financial sector
In the speech 'Building the future - Integrating Europe's financial sector' given on 23 October Gertrude Tumpel-Gugerell of the ECB said the ECB will only pursue plans for its own securities settlement system if it can offer much lower settlement fees…
How big will China's foreign reserves get?
According to this article published by the People's Daily Online on Monday 23 October, China's foreign exchange reserves will exceed $2,000 billion by the end of 2010.
NBS chooses Wall Street Systems package
The National Bank of Slovakia (NBS) has selected Wall Street Systems, a provider of global treasury and capital markets solutions and services, to manage its banking functions, it was announced Monday 23 October.
Gono: Zimbabwe losing inflation battle
Reserve Bank of Zimbabwe governor Gideon Gono said in an interview published Monday 23 October there were several factors that were outside the central bank's control, which made it difficult to control inflation.