Central Banking
Bernanke's testimony to Congress
In testimony given on 19 July Ben Bernanke of the Federal Reserve warned that stubbornly high inflation could harm the U.S. economy and that the U.S. central bank must guard against rising prices taking hold.
Federal Reserve's Monetary Policy Report, Jul 2006
The Federal Reserve published its July 2006 Monetary Policy Report to the Congress on Wednesday 19 July. The U.S. economy continued to expand at a brisk rate, on balance, over the first half of 2006, the report said.
Bank of England voted 7-0 to hold rates
Minutes from the Bank of England's 5 and 6 July Monetary Policy Committee meeting, published Wednesday 19 July, showed policy makers voted unanimously to keep the benchmark interest rate at 4.5 percent this month.
Upset about death of Fed watching? Come to Asia
According to this article from Bloomberg, published Wednesday 19 July, the Federal Reserve has so comprehensively demystified what it does, that anyone can become a Fed watcher.
Former RBA official supports Stevens
Former Reserve Bank of Australia board member Dick Warburton was quoted by the Sydney Morning Herald as saying that he has a lot of faith in the central bank's deputy governor Glenn Stevens.
ADB says China must tighten monetary policy
A senior Asian Development Bank official told Reuters in an interview on Tuesday 18 July that China needs to tighten its monetary policy to tackle an overheated economy and cut inefficient investment.
Spain's Ordonez pledges to support ECB
Miguel Angel Fernandez Ordonez, the new governor of the Bank of Spain, said Tuesday 18 July his central bank will continue to strengthen the support it offers the European Central Bank.
Lithuania's new PM pencils in euro for 2009-2010
Lithuania's new Prime Minister, Gediminas Kirkilas, said the country is unlikely to join the euro zone before 2009, BNS reported citing the Delfi news portal.
Comment: Bernanke focuses on risks
In his remarks following the delivery of the Fed's semi-annual monetary policy to Congress, Fed chairman, Ben Bernanke, adopted an approach very much in keeping with his predecessor, Alan Greenspan. What does this mean for the Fed's inflation targeting…
National Bank of Moldova - Annual Report 2005
According to the National Bank of Moldova's Annual Report 2005, economic development of the Republic of Moldova in 2005 exhibited maintained macroeconomic stability.
Bollard on agriculture, monetary policy, economy
In the speech 'Agriculture, monetary policy and the economy' given on 18 July Alan Bollard of the RBNZ said at the moment the New Zealand economy is moving into a rebalancing period.
SARB Bank Supervision Annual Report 2005
According to the South African Reserve Bank's Bank Supervision Department Annual report 2005, during 2005, the South African banking system remained stable, and, in general, banks were sound and continued to benefit from South Africa's economic health.
St Louis Fed paper on forex intervention
This Federal Reserve Bank of St. Louis Working Paper "Authorities' beliefs about foreign exchange intervention: Getting back under the hood" presents the results of a survey of monetary authorities with respect to their beliefs about foreign exchange…
Fukui on developments in Japan's economy
In a speech given on 16 June (published 18 July) Toshihiko Fukui of the Bank of Japan said looking forward, exports are expected to continue rising against the background of further expansion of overseas economies.
IMF paper on policy lessons from Latin America
The IMF Working Paper "Macroeconomic volatility: The policy lessons from Latin America" traces how the history of macroeconomic volatility and financial crisis over the past century has adversely impacted on growth and other development indicators.
ECB's Quaden awaits evacuation from Lebanon
Belgian national bank governor Guy Quaden, also a board member of the European Central Bank, is set to be evacuated from Lebanon by Belgian authorities, where he was on vacation, his spokeswoman was quoted by Dow Jones as saying Tuesday 18 July.
BIS Triennial Central Bank Survey 2007
The BIS announced on Monday 17 July that it will carry out its seventh triennial survey in April and June 2007, with the participation of 54 central banks and monetary authorities.
Villasante steps down from Bank of Spain
Pedro Pablo Villasante, the director of supervision at the Bank of Spain, is to be nominated secretary-general of the Spanish banking association, the AEB, El Pais reported.
FT calls Hungary 'sick man of Europe'
"Although no country covets the title of 'sick man of Europe', there are several contenders for it. The frontrunner, though, is Hungary," the Financial Times Lex column said on Monday 17 July, in a piece that was picked up by various media.
Comment: Rethinking financial stability reporting
The Bank of England recently unveiled its revamped Financial Stability Report. Starting with the title of the publication, the Bank has taken a new approach to both the presentation of report and its content. The changes are an effort to focus the report…
US says IMF gold revaluation not an option
U.S. Treasury Under Secretary Tim Adams said on Monday 17 July that it would not be appropriate for International Monetary Fund gold reserves to be revalued to support its financing to make up for reduced demand for emergency loans.
Bernanke complicated by regional Fed presidents
According to the article "Bernanke push for unity complicated by regional Fed presidents" published by Bloomberg on Tuesday 18 July, it is becoming more difficult for Ben Bernanke to create consensus with regional Fed presidents gaining influence and…
Bank of Mauritius - Annual Report 2005
According to the Bank of Mauritius' Annual Report 2005, economic performance during fiscal year 2004-05 was characterised by a real GDP growth of 4.1 per cent.
BoE paper on efficient payment systems
The Bank of England Working Paper "The welfare benefits of stable and efficient payment systems" examines the importance of smoothly functioning payment systems to the economy by extending a recently developed theoretical model of banks.