Central Banking
Estonia says euro adoption unlikely before 2010
The Bank of Estonia announced Wednesday 8 November that soaring inflation is likely to set back Estonia's target date for adopting the euro to 2010.
Interview with Richmond Fed's Jeffrey Lacker
In an interview with the Financial Times, published Wednesday 8 November, Richmond Fed president Jeffrey Lacker said the Federal Reserve has failed to communicate its determination to bring down inflation in a forceful enough fashion.
BOJ's Mizuno says gradual rate hikes needed
Bank of Japan policy board member Atsushi Mizuno said on Wednesday 8 November the central bank should gradually increase interest rates as long as recent weakness in economic indicators proves to be temporary.
Turkey's Yilmaz says price stability not ensured
In a speech to industrialists Turkey's central bank chief, Durmus Yilmaz, said inflation rates have turned out to be below expectations in October and created an optimistic mood, but cautioned it is not time yet for festivities.
Peru may confirm central bank appointees Friday
Peru's Congress will probably confirm Friday three candidates for the central bank's board of directors, Bloomberg reported Thursday 9 November.
Bank of England moves rates higher as expected
The Bank of England's Monetary Policy Committee voted Thursday 9 November to raise UK interest rates by 0.25 percentage points to 5.0%.
Fed's Hoenig: This time it's different (or is it?)
In the speech 'This time it's different (or is it?)' given on 30 October Thomas Hoenig of the Federal Reserve Bank of Kansas City said conditions today are good: strong earnings, good asset quality, no bank failures in more than two years.
Asian bond markets: issues and prospects
The BIS published papers on Monday 7 November presented at a BIS/Korea University conference of central bankers, scholars and market participants held in Seoul on 21-23 March 2004.
Cleveland's Pianalto on the Federal Reserve System
In the speech 'An overview of the Federal Reserve System' given on 5 October Sandra Pianalto of the Federal Reserve Bank of Cleveland said the official data that are available are just not current enough for a forward-looking enterprise like monetary…
Bergo on Norwegian economy & financial stability
In the speech 'The Norwegian economy and financial stability' given on 7 November Jarle Bergo of the Norges Bank said the Norwegian financial system appears sound, well managed and competitive, and shorter-term vulnerabilities appear low overall.
Keeping faith in CBK's supervisory obligation
According to this article published Tuesday 7 November by the Kenya Times, a logical move by the Central Bank of Kenya to shut down the country's twenty or so banks affected by bad debts would have had dire implications for the economy.
Longworth on the Canadian economy
In the speech 'The Canadian economy and financial markets in perspective' given on 8 November David Longworth of the Bank of Canada said that hedge funds had a largely positive impact on the efficiency of financial markets.
Islamic banking MoU signed in Pakistan
A Memorandum of Understanding (MoU) was signed on Monday 6 November to promote Islamic Banking in Pakistan.
ECB report says EU banks need to exercise caution
The European Central Bank said in a report on Tuesday 7 November that EU banks need to exercise caution with their mortgage lending because of the risk of some households getting into financial difficulties.
BoJ likely to raise interest rates before year end
Speaking at a seminar in Tokyo on Tuesday 7 November, the governor of the Bank of Japan, Toshihiko Fukui, indicated that he would be in favour of raising interest rates in anticipation of higher inflation.
RBA raises rates to 6.25%
The Reserve Bank of Australia has increased the official cash rate by 25 basis points to 6.25% as widely expected, after its monthly monetary policy meeting on Wednesday 8 November.
SNB names new head of asset management
As of 1 December 2006, Sandro Streit will succeed Thomas Stucki as Head of Asset Management at the Swiss National Bank.
Hildebrand named new SNB vice-president
The Swiss government on Wednesday 8 November named Philipp Hildebrand as the new vice-president of the Swiss National Bank (SNB) as of May next year, replacing Niklaus Blattner, who will retire.
OECD's Gurria on the role of bank supervisors
In the speech 'The role of bank supervisors in the fight against corruption' given on 5 October Angel Gurria of the OECD said a recent OECD study found that only a few countries have developed guidelines and typologies on money laundering transactions…
Econ Perspectives - Central counterparty clearing
The Chicago Fed's Economic Perspectives for the Fourth Quarter 2006 focuses on central counterparty clearing and includes a summary of the conference, titled "Issues related to central counterparty clearing."
Nyberg on the Riksbank and the property market
In the speech 'The Riksbank and the property market' given on 6 November Lars Nyberg of the Sveriges Riksbank said he sees no serious risks to financial stability in the growing household indebtedness and rising property prices.
Chicago Fed's Moskow on U.S. economic outlook
In the speech 'U.S. economic outlook' given on 6 November Michael Moskow of the Federal Reserve Bank of Chicago said U.S. economic growth is likely to bounce back from the third quarter, when real gross domestic product rose by 1.6 percent.
BOJ's Fukui on the outlook for Japan's economy
In the speech 'The outlook for Japan's economy and the conduct of monetary policy' given on 7 November Toshihiko Fukui, governor of the Bank of Japan, said exports have continued to increase against the background of the expansion of overseas economies.
Fed gets ambiguous data, no reasons for a change
Federal Reserve officials are likely to keep US interest rates unchanged at their next meeting, according to this article from Bloomberg published Tuesday 7 November.