Central Banking
When facts change, central bank intentions should
According to this article published by the Financial Times on Wednesday 28 June, by Francesco Giavazzi and Charles Wyplosz, the Bank of England, which once pioneered transparency and innovative communication, is trailing behind other central banks.
Fed views on U.S. inflation targeting
This article from Reuters, published Wednesday 28 June, provides summaries of views voiced by Federal Reserve policy-makers on the merits of stated numerical inflation targets.
BoE's King criticises MPC appointment process
Bank of England governor Mervyn King on Thursday 29 June took aim at the "very much last minute" way in which members were appointed to the Monetary Policy Committee by Chancellor of the Exchequer Gordon Brown.
Fernandez Ordoez nominated as Bank of Spain chief
Spain's finance minister, Pedro Solbes, proposed Miguel Angel Fernandez Ordonez as the new governor of the Bank of Spain on Wednesday 28 June.
Yamamoto says Fukui should resign 'immediately'
Kozo Yamamoto, head of the ruling Liberal Democratic Party's monetary policy panel, said Thursday 29 June that Bank of Japan governor Toshihiko Fukui should resign "immediately" over the Murakami investment scandal.
Hong Kong unlikely to use yuan as reserve currency
The Hong Kong Monetary Authority is unlikely to use the yuan anytime soon as one of its reserve currencies, HKMA chief executive Joseph Yam said Thursday 29 June.
Sao Tome government fires central bank governor
The government of Sao Tome and Principe has dismissed the governor of the country's central bank, the macauhub.com website reported on Wednesday 28 June.
Comment: When 364 economists were wrong
It is rare to find two economists who can agree on anything, but in 1981 no less than 364 British economists agreed to write an open letter condemning the tightness of that year's budget. Amongst them: a certain Mervyn King.
Norges Bank Inflation Report, June 2006
Norges Bank published its Second Inflation Report for June 2006 on Thursday 29 June. The cyclical expansion in the Norwegian economy is continuing, according to the report.
Trichet on further integrating euro area economies
In the speech 'Further integrating euro area economies: some reflections' given on 29 June Jean-Claude Trichet of the ECB said the economic and financial environment is changing and euro area countries are becoming progressively more interdependent.
Transparency, expectations, and forecasts
In 1994 the FOMC began to release statements after each meeting. This ECB Working Paper investigates whether the public's views about the current path of the economy and of future policy have been affected by changes in the Federal Reserve's…
Consultation paper on Payments System Risk Policy
The Federal Reserve has published a consultation paper to seek information from financial institutions and other interested parties on their experience in managing intraday liquidity, credit, and operational risks relating to Fedwire funds transfers and…
Federal Reserve expected to raise rates
Federal Reserve policymakers were widely expected to finish a two-day meeting on Thursday 29 June, by raising US interest rates for the 17th consecutive time to 5.25 percent.
Nishimura on the BOJ's new policy framework
In the speech 'The new policy framework of the Bank of Japan: Central banking in an uncertain world' given on 27 June Kiyohiko Nishimura of the Bank of Japan said we are in the midst of fundamental uncertainty.
IMF paper on the euro's challenge to the dollar
The IMF Working Paper "The euro's challenge to the dollar: Different views from economists and evidence from COFER (Currency composition of Foreign Exchange Reserves) and other data" examines opposing views on the euro's challenge to the dollar as an…
ECB paper on the Stability and Growth Pact
A year on from the SGP reform, the ECB Occasional Paper "The reform and implementation of the Stability and Growth Pact" takes stock of how the EU fiscal rules have evolved.
Srejber on monetary policy & inflation-targeting
In the speech 'Should monetary policy subdue inflated high debts and asset prices in an inflation-targeting regime?' given on 28 June Eva Srejber of the Sveriges Riksbank said the Swedish central bank is not hamstrung by its practise of inflation…
National Bank of Hungary - Annual Report 2005
According to the National Bank of Hungary's Annual Report 2005, 2005 was a successful year for the Magyar Nemzeti Bank, both in terms of performing its core duties laid down by law and achieving its organisational objectives.
Bank of Guyana - Annual Report 2005
According to the Bank of Guyana's Annual Report 2005, the economy, during 2005, suffered heavily from the effects of the flood in the early part of the year.
Euro membership not good for all, study says
According to this article published Monday 26 June, a new report from the CEPR claims Britain and other European economies have little to gain from adopting the euro now.
Iran's central bank and BIS to boost cooperation
According to IRNA news agency, Iran's central bank governor Ebrahim Sheibani held talks with the general Manager of the BIS, Malcolm Knight, in Basel aimed at stepping up banking cooperation.
Bank of Canada appoints Special Adviser
The Bank of Canada announced Wednesday 28 June the appointment of Professor Steve Ambler to the position of Special Adviser for the year 2006-07. The Special Adviser position was created to bring additional perspectives to monetary policy discussions.
BoF's Noyer warns on imprudent mortgage lending
Bank of France governor Christian Noyer told the French banking commission Wednesday 28 June that imprudent mortgage lending by French banks could lead to problems if interest rates rise or property prices fall.
Comment: Passing the buck
The current outcry over American intelligence officials' access to private information linked to international money transfers has raised some thorny issues over who regulates the international messaging and financial telecommunications group, SWIFT.