Central Banking
HKMA Quarterly Bulletin, June 2006
The Hong Kong Monetary Authority published the June 2006 issue of its Quarterly Bulletin on 14 June. The Bulletin has four feature articles including 'The oversight of payment and securities settlement systems in Hong Kong'.
Common currency basket in the 'ASEAN plus three'
East Asian countries, for example "ASEAN plus three countries" (China, Korea, and Japan), have been well cognizant of importance of the regional financial cooperation since the Asian currency crisis in 1997, according to the Discussion Paper "Adopting a…
Bank of Estonia - Annual Report 2005
According to the Bank of Estonia's Annual Report 2005, for Estonia 2005 was a year of fast economic growth, higher than expected employment, and households' growing confidence in the future.
Bank of England Inflation Attitudes Survey, May 06
The Bank of England published its May 2006 Inflation Attitudes Survey on Monday 19 June. Britons' expectations for inflation fell from the highest in more than six years in May, the survey showed.
Fed's Kohn on the effects of globalization
In the speech 'The effects of globalization on inflation and their implications for monetary policy' given on 16 June Donald Kohn of the Federal Reserve said cutting U.S. inflation "could be difficult and costly" once it rose.
Sveriges Riksbank Inflation Report, No. 2, 2006
Sweden's central bank, the Sveriges Riksbank, published its Second Inflation Report for 2006 on Tuesday 20 June. According to the report, economic activity is expected to remain good and UND1X inflation is expected to be in line with the inflation target…
Ignore cryptic central bankers at your peril
According to the article "Ignore at your peril the cryptic prophecies of central bankers" by William Keegan, published by The Observer on Saturday 17 June, with the world's stock markets suffering from an attack of the jitters, the role of central…
Two governors at the Central Bank of Kenya?
According to the article "Shall we end up with two 'governors' at the central bank?" published by The East African Standard on Friday 16 June, Kenya's Minister for Finance has made a significant pronouncement regarding the future management of the…
Fed's Olson named chairman of PCAOB
Federal Reserve governor Mark Olson was named on Monday 19 June as head of the Public Company Accounting Oversight Board, a U.S. watchdog that polices corporate auditors.
Senate approves Kohn as Fed vice chairman
The U.S. Senate approved the nomination of Federal Reserve governor Donald Kohn on Monday 19 June, to be vice chairman at the US central bank.
Single central bank an option for Caricom
An economist has said that a single central bank is an option worth exploring within the Caribbean Community (CARICOM).
Comment: Fukui comes out fighting
The governor of the Bank of Japan came out fighting on Tuesday 20 June in response to a public outcry due to a dubious personal investment. Fukui reiterated that he would not bow down to opposition politicians' calls for his head, and squashed rumours…
Fukui: 'I am very very sorry'
Bank of Japan chief Toshihiko Fukui apologised to the nation Tuesday 20 June and said he would take a 30% pay cut for six months. He also said the bank has set up a committee to review rules for its officials' assets.
ECB's Tumpel-Gugerell on the drivers of change
In the speech 'The drivers of change: regulation versus competition' given on 15 June Gertrude Tumpel-Gugerell of the ECB said the European case study shows that regulatory changes can have a very profound impact on the structure, profitability and…
Philadelphia Fed Business Outlook Survey, Jun 2006
According to the firms surveyed for the Philadelphia Fed's June 2006 Business Outlook Survey, activity in the region's manufacturing sector continues to expand.
Draghi on economic developments in Italy
In the speech 'Overview of economic and financial developments in Italy' given on 31 May Mario Draghi of the Bank of Italy said returning to growth is Italy's absolute priority for economic policy today, as was entering the monetary union ten years ago.
Paper on European monetary policy
The paper "Is European monetary policy appropriate for the EMU member countries? A counterfactual analysis" analyses whether interest rate paths in the EMU member countries would have been different if the previous national central banks had not handed…
Bank of Japan Monthly Report, June 2006
The Bank of Japan published the English version of its June 2006 monthly report on Monday 19 June. In the report the BOJ maintained its upbeat assessment of the nation's economy, citing rising production, capital investment and personal spending.
Bank of England Quarterly Bulletin, Summer 2006
The Bank of England published its Quarterly Bulletin for Summer 2006 on Monday 19 June. The latest issue includes the article "Cost-benefit analysis of monetary and financial statistics".
Poll result says Fukui should quit
Nearly half of the respondents to a poll by Kyodo News Service said Bank of Japan governor Toshihiko Fukui should step down from his position, the news agency reported.
Summers against inflation targets
Former US treasury secretary Lawrence Summers said on Friday 16 June that the Federal Reserve should not adopt any explicitly rule-based monetary policy regime.
BOJ's Noda sees turning point for economy
Tadao Noda, the most recent member of the Bank of Japan's policy board, said on Monday 19 June that Japan's economy and monetary policy are at a "turning point."
BOJ urged to strengthen rules
Japanese ruling and opposition lawmakers called on the Bank of Japan on Sunday 18 June to introduce asset disclosure rules following the BOJ chiefs admissions to holding a scandal-tainted investment.
Hoenig says imbalances spell slow-motion crisis
The United States faces a "growth crisis over time" from its large and persistent current account balance, Thomas Hoenig, president of the Kansas City Federal Reserve Bank, said on Friday 16 June.