Central Banking
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.
BOJ scandal heats up
Calls for the resignation of Bank of Japan governor Toshihiko Fukui are intensifying amid worries about interest-rate hikes and falling stock prices, according to this article from BusinessWeek, published Tuesday 27 June.
Paulson has strong confidence in Bernanke
Henry Paulson, President Bush's nominee as the next US Treasury Secretary, has thrown his weight behind Ben Bernanke, the new chairman of the Federal Reserve.
Philippines central bank to reduce policy meetings
The central bank of the Philippines has decided to hold its monetary policy-setting meetings every six weeks starting July, instead of every four weeks.
Sri Lanka appoints new central bank governor
Effective from Thursday 22 June Presidential Advisor on Economic Affairs and Secretary to the Ministry of Plan Implementation Ajith Nivard Cabraal became the new governor of the Central Bank of Sri Lanka.
ECB 'permanently alert' says Trichet
European Central Bank president Jean-Claude Trichet said in an interview published Tuesday 27 June the ECB governing council is "permanently alert" and ready to act to counter inflation risks.
King, robed in red, given Cambridge's top honour
According to this article, Bank of England governor Mervyn King was due to receive Cambridge University's highest honour on Tuesday 27 June.
Fed confronts failure to comprehend
According to this article from Bloomberg published Tuesday 27 June, five months into the term of Ben Bernanke at the Fed he and his colleagues haven't figured out how to get financial markets to understand what they are trying to do with monetary policy.
RBA paper on optimal monetary policy
The RBA Discussion Paper "Optimal monetary policy with real-time signal extraction from the bond market" sets up a model where the central bank uses real-time data from the bond market together with standard macroeconomic indicators to estimate the…
IMF paper on impacts of non-adoption of the euro
The IMF Working Paper "Price impacts of non-adoption of the euro for small European countries" uses the Sjaastad model to analyze the price-making power of major currencies with regard to the prices of traded goods in small countries that have not…
SNB's Roth on transparency and communication
In the speech 'No news, good news - transparency and communication in monetary policy' given on 16 June Jean-Pierre Roth of the Swiss National Bank said central bank transparency yields economic benefits because it enhances monetary policy effectiveness…
Comment: Bold CBT holds its breath
After another emergency meeting over the weekend the Central Bank of Turkey has raised interest rates by 225 basis points (bp). This has taken interest rates to 17.25%, following an initial hike of 175 bp earlier this month. Will this bold move make any…
Garganas says ECB may aggressively raise rates
European Central Bank council member Nicholas Garganas said in an interview the bank is ready to accelerate the pace of interest-rate increases to counter higher inflation risks in the eurozone.