Central Banking
Caruana at the ECB's Governing Council Dinner
In a speech given on 7 June Jaime Caruana of the Bank of Spain said the ECB's monetary policy has been positive for the euro zone economy, but it needs to be supported by economic reforms by euro zone governments.
BOJ urged to maintain zero rate policy
Japan's government has urged the central bank to maintain its zero interest rates policy in order not to choke off the country's economic recovery.
Brazil's Meirelles says growth is sustainable
In an address to foreign investors on the first day of the International Conference of American Chambers of Commerce in Latin America, the president of Brazil's central bank, Henrique Meirelles, affirmed that Brazilian growth is sustainable.
Kohn: Nomination as Vice Chairman to the Board
In testimony given on 8 June Donald Kohn of the Federal Reserve said that rising prices had raised an inflation "warning flag" that demanded attention, in the latest hawkish remarks from central bank policymakers.
RBNZ Monetary Policy Statement, June 2006
The Reserve Bank of New Zealand published its June 2006 Monetary Policy Statement on 8 June. The report said that recent economic activity has been weaker than projected in the March Monetary Policy Statement. However, the short-term inflation outlook…
What drives volatility persistence in FX market?
The Federal Reserve Board Discussion Paper "What drives volatility persistence in the foreign exchange market?" published May 2006 analyses the factors driving the widely-noted persistence in asset return volatility using a unique dataset on global euro…
ECB's Tumpel-Gugerell on SEPA
In the speech 'What is the outlook for the Single European Payments Area (SEPA)?' given on 7 June Gertrude Tumpel-Gugerell of the ECB said the project is on track and many hands are needed for making the SEPA vision reality.
Fed's Bies on effective risk management
In the speech 'Challenges of conducting effective risk management in community banks' given on 6 June Susan Schmidt Bies of the Federal Reserve said US banking regulators are warily eyeing concentrations of commercial real estate loans and worry some…
Mohan on financial sector reforms, monetary policy
In the speech 'Financial sector reforms and monetary policy: The Indian experience' given on 2 June Rakesh Mohan of the Reserve Bank of India said the RBI will maintain vigil over asset price rises, especially in housing and real estate that are emerging…
New York Fed's Economic Policy Review, May 2006
The Federal Reserve Bank of New York has published the May 2006 edition of its Economic Policy Review. The latest edition includes the article "Trading risk, market liquidity, and convergence trading in the interest rate swap spread".
BIS's Knight on globalisation & financial markets
In the speech 'Globalisation and financial markets' given on 22 May Malcolm Knight of the BIS discusses the consequences of the liberalisation of international transactions in financial instruments by many countries.
Launching of Bloomberg e-bond trading system
With the support of the Central Bank of Sri Lanka and the Primary Dealer community, Wednesday 7 June, Bloomberg officially launched its e-bond trading system in Sri Lanka.
Fed's Poole sees stagflation possibility
If inflation expectations are rising, a slowing economy may not reduce inflation pressures, said St. Louis Federal Reserve President William Poole, quoted in the Wall Street Journal online edition.
Greenspan picks writer to help with memoirs
Alan Greenspan has selected a Fortune Magazine veteran, Peter Petre, to assist him on his memoirs, The New York Times reported.
Comment: BCCI 'farce' all over
A final line was drawn yesterday under the "farcical" BCCI. The book is closed on the matter with the Bank of England's financial compensation falling short of the amount it said it would push for when BCCI liquidators, Deloitte, dropped its £1 billion…
Final curtain for long running BCCI 'farce'
A full and final settlement was agreed on Wednesday 7 June on costs in the proceedings brought by the Liquidators of BCCI against the Bank of England.
Greenspan sees little impact on growth from oil
Former Federal Reserve Chairman Alan Greenspan told the Senate Foreign Relations Committee in Washington that higher oil prices have had "little consequence" for a "more flexible" U.S. economy and probably haven't caused "serious erosion" worldwide.
Fed's Hoenig says too soon to be behind curve
Kansas president Thomas Hoenig said on Tuesday 6 June that monetary policy acts with a lag and, as a result, it was premature to say the U.S. central bank was "behind the curve" in raising interest rates.
National Bank of Austria - Annual Report 2005
According to the National Bank of Austria's Annual Report 2005, Austria's real GDP grew by 1.9% in 2005, mainly fuelled by strengthened exports and the dynamic development of the industrial sector.
Norges Bank Financial Stability Report No.1, 2006
The central bank of Norway, Norges Bank, published its twice yearly Financial Stability Report 1/2006 on 6 June. The overall outlook for financial stability is considered to be satisfactory, said deputy governor of Norges Bank Jarle Bergo.
BIS's Knight on long-term interest rates
In the speech 'Why have long-term interest rates been so low? Is the global interest rate cycle beginning to turn?' given on 12 May Malcolm Knight of the BIS discusses the surprising decline in real long-term interest rates that has taken place in…
Paper on monetary policy and asset prices
The University of Warwick Research Paper "Monetary policy and asset prices : What role for central banks in new EU member states?" deals with the relationship between monetary policy and asset prices.
Fed's Bernanke on the outlook for the U.S. economy
In the speech 'Panel discussion: Comments on the outlook for the U.S. economy and monetary policy' given on 5 June Ben Bernanke of the Federal Reserve said recent increases in measures of inflation ``are unwelcome'' and he will ensure the trend isn't…
Legal foundations of int'l monetary stability
A new book by Rosa Maria Lastra, a senior lecturer in International Financial and Monetary Law, describes the legal framework promoting, and policy implications of, monetary and financial stability.