Central Banking
Central banks and the challenge of development
The BIS has published papers presented at a special meeting of central bank governors held in Basel, 14-15 March 2006. For the first time in more than 30 years, there has been a marked revival of growth in much of Africa, and inflation has been brought…
Chicago Fed National Activity Index, May 2006
The Chicago Fed National Activity Index for May 2006, published 22 June, was -0.16 in May, down from +0.26 in April.
Mervyn King's Mansion House Dinner speech
In a speech given on 21 June Mervyn King of the Bank of England said urged the government to introduce legislation to reform the Commercial Court following the collapse of the Bank of Credit and Commerce International trial. King also discussed the …
Comment: Uganda eyes inflation target
The Bank of Uganda will implement an inflation-targetting framework in the near future, the governor of the central bank, Emmanuel Tumusiime-Mutebile, told CentralBankNews.com. Only a lack of adequate and timely data is holding it back.
IMF's Krueger on globalization and flexibility
In the speech 'Globalization, flexibility and interdependence: Equipping economies for the 21st century' given on 13 June Anne Krueger of the IMF said if we have learned anything since the IMF was established more than sixty years ago, it is that the art…
Atlanta Fed's Guynn set to retire
Jack Guynn, president of the Federal Reserve Bank of Atlanta, announced Thursday 22 June that he plans to retire effective from 1 Oct 2006.
Bank of England's Walton dies unexpectedly
David Walton, a member of the Bank of England's Monetary Policy Committee, died unexpectedly on Wednesday night after a short illness, the Bank said in a statement released on Thursday 22 June. Mr Walton was 43.
Mark Olson resigns from Fed
Mark W. Olson submitted his resignation Wednesday 21 June as a member of the Board of Governors of the Federal Reserve System, effective June 30, 2006.
BOJ's Nishimura sees low rates problem
Keeping Japan's interest rates at low levels for a prolonged period may cause excessive investment by companies and overstimulate economic growth, according to Kiyohiko Nishimura, a Bank of Japan policy maker.
Koizumi urges BOJ to improve transparency
Japanese prime minister Junichiro Koizumi called on the Bank of Japan to improve its transparency on Thursday 22 June, following governor Toshihiko Fukui's investment with the Murakami fund, Finance Minister Sadakazu Tanigaki said.
Liikanen says euro area inflation risks on upside
Inflation risks in the eurozone are on the upside, European Central Bank Governing Council member Erkki Liikanen was quoted as saying by Finnish daily Demari in an interview published on Thursday 22 June.
BOJ members closely watching stock prices
Minutes of the Bank of Japan's recent policy board meeting released Tuesday 20 June said members need to closely watch the impact of a global decline in stock prices on the world's second-largest economy.
Fukui on recent economic & financial developments
In the speech 'Recent economic and financial developments and the conduct of monetary policy' given on 20 June Toshihiko Fukui of the Bank of Japan said Japan's economy continues to grow, with domestic and external demand and also the corporate and…
ECB's Trichet on economic and monetary issues
In the testimony given on 21 June Jean-Claude Trichet of the ECB said the insight that price stability is the primary goal for monetary policy has also been translated into the mandates of central banks of advanced economies and also of a very large…
Bank of England voted 7-1 to hold rates
Bank of England policymakers voted 7-1 to leave UK interest rates unchanged at their 7-8 June meeting, minutes released Wednesday 21 June showed.
Ten million reasons BOJ's Fukui must resign
According to this article published by Bloomberg on Wednesday 21 June, Bank of Japan governor Toshihiko Fukui should stop apologising, clarifying and sidestepping, and just resign.
Hedge funds vs. central bankers
This article from the Los Angeles Times Service, published Wednesday 21 June, asks what on earth is going on with world stock markets?
Deutsche Bundesbank Monthly Report, May 2006
The Deutsche Bundesbank published the English version of its May 2006 Monthly Report on 20 June. The report said the outlook for the German economy is 'mainly favourable' as it expects domestic demand will continue to recover.
IMF's Rato on the changing global economy
In the speech 'Adapting to the changing global economy: The IMF's medium-term strategy' given on 16 June Rodrigo de Rato of the IMF said there is already considerable agreement on the broad policies that are needed to reduce global imbalances.
Former Fed vice chairman joining Swiss Re
Former Federal Reserve vice chairman Roger Ferguson is joining global reinsurance company Swiss Re in a senior executive position, the company announced on Monday 19 June.
Trichet will 'fiercely' defend ECB independence
European Central Bank president Jean-Claude Trichet told the European Parliament on Wednesday 21 June that he will "fiercely" defend the independence of the ECB.
What central banks are doing to raise interest
This article published Wednesday 21 June looks at central bank websites, saying that at their best the world's central banks are showing how a website can be used to provide information for a range of audiences.
Canada's Dodge on global economic forces
In the speech 'Global economic forces and the need for adjustment' given on 21 June David Dodge of the Bank of Canada said powerful developments and trends in the global economy mean that Canadian businesses need to make adjustments.
Comment: Testing times for the SARB
After almost three years of stable economic conditions, the South African Reserve Bank faces a new challenge. Widely applauded for its sound management of the economy, the central bank now has to show that it can the do the job when the external…