Central Banking
Knight on Asia, the dollar & global imbalances
In the speech 'Asia, the US dollar and global imbalances' given on 18 May Malcolm Knight of the BIS said global imbalances in current account deficits and budget deficits are "not sustainable".
Hong Kong Monetary Authority - Annual Report 2005
According to the Hong Kong Monetary Authority's Annual Report 2005, Hong Kong enjoyed robust economic growth in 2005, following a strong and broad-based recovery in 2004.
Central Bank of Sri Lanka - Monetary Policy Review
According to the Central Bank of Sri Lanka's Monetary Policy Review for May 2006, both exports and imports expanded further in March 2006 with imports growing at a faster rate mainly due to the increase in the petroleum imports.
ECB paper on foreign reserves management
The ECB Working Paper "Foreign reserves management subject to a policy objective," published May 2006, studies the implications of introducing an explicit policy objective to the management of foreign reserves at a central bank.
Russian central bank to manage state oil fund
Russia's central bank has been given the green light to manage the state's fund of oil profits, the Russian minister of finance, Alexey Kudrin, announced earlier this week.
Central bankers eye Norway's clarity on rates
According to this article published by the Financial Times on Friday 26 May, Norges Bank's "subversive" transparency is attracting a great deal of attention in central banking circles.
PBOC's Tang says China may not tighten further
China may not need to tighten its macro-economic policy further in the near future, Tang Xu, the director of the People's Bank of China's research bureau, said in an interview published in the official Shanghai Securities News.
UAE offers training to central bank of Afghanistan
The central bank of the UAE on Thursday 25 May offered to provide the central bank of Afghanistan with technical training for its staff, the Khaleej Times reported.
Fed can't ignore stock, home prices says Bernanke
Fed chairman Ben Bernanke said in a written response to a senator that the US central bank cannot turn a blind eye to price changes for stocks and homes when deciding on interest rates, but should take action only when they threaten the overall economy.
Bernanke to deliver MIT's commencement address
Federal Reserve chairman Ben Bernanke will deliver the main commencement address at the Massachusetts Institute of Technology on 9 June.
Comment: Reserves management update
How much has changed in the last year in the world of official reserves management? The same issues - the threat of a weakening dollar, central banks' role in bring this about and their response to it, a continuation of the unprecedented accumulation of…
Federal Reserve Bank of Atlanta - Annual Report 05
According to the Federal Reserve Bank of Atlanta's Annual Report 2005, the 2005 hurricane season made an indelible mark on the Southeast.
Chicago Fed National Activity Index, April 2006
The Chicago Fed National Activity Index for April 2006, published 18 May, was +0.38 in April, up slightly from +0.35 in March.
Fisher on globalization's impact on U.S. growth
In the speech 'Globalization's impact on U.S. growth and inflation' given on 22 May Richard Fisher of the Federal Reserve Bank of Dallas said Washington policymakers don't understand how globalization has changed the world economy.
Fed's Olson on compliance risk management
In the speech 'Compliance risk management in a diversified environment' given on 16 May Mark Olson of the Federal Reserve said the Fed is pleased that large banks are creating senior positions to oversee whether institutions are in step with regulations…
Fed's Kroszner on innovative statistics
In the speech 'Innovative statistics for a dynamic economy' given on 24 May Randall Kroszner of the Federal Reserve said that Congress should spend money and seek new approaches to bring U.S. economic statistics into the new century.
SF Fed paper on the bond yield 'conundrum'
The Federal Reserve Bank of San Francisco Working Paper "The bond yield 'conundrum' from a macro-finance perspective," published May 2006, documents the extent and timing of the bond yield conundrum using two empirical no-arbitrage macro-finance models…
Syria, Lebanon sign memorandum on money laundering
Syria and Lebanon signed a memorandum of understanding on Wednesday 24 May to fight money laundering and terrorist financing, the Syrian News Agency SANA reported.
Singapore, Thai central banks sign supervisory MOU
Singapore and Thailand have signed a memorandum of understanding (MOU) for banking supervisory cooperation between the two countries, the MAS said Thursday 25 May.
MAS says common Asian currency unlikely soon
A top official from the Monetary Authority of Singapore has said that the establishment of a common Asian currency is unlikely to be realised in the near term.
Comment: Volatility returns
Before recovering somewhat this week, stock markets around the world from Bombay to New York to Sydney to Moscow took a beating last week and on Monday. Here is a quick look at some recent arguments on what this means for central bankers.
China will strictly control new bank loans
China's banking regulator said in a statement published Thursday 25 May that it will strictly control the issuance of new loans.
China's reserve center to open in July
The China International Reserve Center will open in Shanghai this July, according to the China Knowledge website.
Bush has 'total confidence' in Bernanke
President George W. Bush has "total confidence" in Federal Reserve chief Ben Bernanke, a top White House adviser said in an interview on Thursday 25 May.