Central Banking
Kansas Fed's Payments system research briefing
The Kansas City Fed's Payments system research briefing for May 2006, examines the potential for fraud associated with various "traditional" payment methods and the protective measures that consumers should take when using them.
U.K. inflation targeting and the exchange rate
This St Louis Fed Working Paper, published May 2006, considers whether it is welfare-reducing to target inflation in the CPI rather than in a narrower index.
Joint Forum paper on liquidity risk management
The Joint Forum on Wednesday 3 May released a paper on funding liquidity risk management practices in use by conglomerates engaged in banking, securities and insurance activities.
G10 central bankers wary of inflation
Central bank chiefs from leading industrialised and developing countries called on Monday 8 May for "very special attention" to guard against ongoing global economic growth from becoming inflationary.
HKMA's Yam rejects calls to dump dollar peg
The Hong Kong Monetary Authority has said it would resist pressure to re-peg the Hong Kong dollar away from the U.S. dollar and onto the Chinese yuan.
PBOC trying to cool overheating sectors
The People's Bank of China is seeking to cool overheating economic sectors such as real estate as well as cut its huge foreign exchange reserves, a senior Chinese government official said.
Comment:Government debt offices gear up for change
Government debt offices play a vital role in managing the cost and risk of government borrowing and in the development of the domestic financial system, but they are frequently overlooked. A recent survey looks at the trends towards concentrated…
Asia is getting ready to dump the dollar peg
According to this article published Monday 8 May, even as they continue to pile up U.S. debt in their foreign exchange reserves to keep their currencies stable against the dollar, Asian nations are preparing for a scenario where the dollar collapses…
Philippines, Japan sign currency swap
The Philippine central bank and the Bank of Japan have signed a currency swap arrangement letting both countries draw from each other's foreign reserves for any "immediate need".
Why the dollar is set to plunge
The fundamental reason for the dollar's weakness has become greater since it enjoyed a modest revival from the end of 2004, according to this article published Monday 8 May.
Qatar appoints central bank chief
Qatar appointed a member of its ruling family to the position of head of the central bank on Sunday 7 May, according to the AME Info website.
Angola swears in deputy governors
The Angolan Head of State, Jose Eduardo dos Santos swore in last Wednesday 3 May in Luanda two deputy governors of the National Bank of Angola (BNA).
Bank of Israel names new deputy governor
Bank of Israel governor Stanley Fischer has named Tel Aviv University economics professor Zvi Eckstein for the position of deputy governor, Haaretz reported.
Central Bank of Bosnia - Annual Report 2004
According to the Central Bank of Bosnia and Herzegovina's Annual Report 2004, the BH economy has continued its growth from the previous period and during 2004 it had a higher growth rate than it had in 2003. Real growth is close to the growth of the…
Weber on forecasting in eurosystem central banks
In the speech 'Forecasting in eurosystem central banks - Overview and challenges' given on 5 May Axel Weber of the Bundesbank said the European Central Bank's economic forecasts will be based on market expectations for interest rates in future, rather…
New York Fed's Foreign Exchange Operations Report
According to the Federal Reserve Bank of New York's Treasury and Federal Reserve Foreign Exchange Operations quarterly report for January-March 2006, published 4 May, the U.S. monetary authorities did not intervene in the foreign exchange markets during…
Chairman Bernanke's clarity issue
According to this article published Thursday 4 May, while Ben Bernanke is unlikely to make radical changes in the statement issued after the next FOMC meeting, Fed watchers say he could aid his cause by eventually disclosing the central bank's forecasts…
RBA Statement on Monetary Policy, May 2006
The Reserve Bank of Australia published its May 2006 Statement on Monetary Policy on 5 May. The Australian economy is continuing to benefit from favourable international conditions, according to the report.
German pay policy points to a eurozone design flaw
According to this article by Paul de Grauwe, published Friday 5 May, in spite of the fact that the eurozone is a union of countries which set their monetary policy jointly, wage policies have been characterised by a blatant co-ordination failure.
Trichet 'not satisfied' with inflation over 2%
Speaking at the Frankfurt Chamber of Industry and Commerce on Friday 5 May, Jean-Claude Trichet said the European Central Bank is 'not satisfied' with inflation above 2 pct in the euro zone.
SNB's Blattner says rates will rise 'gradually'
Swiss National Bank vice-president Niklaus Blattner said on Friday 5 May that Swiss interest rates would continue to rise "gradually" to ensure longer term price stability.
Comment: Unravelling the RBA hike
The Reserve Bank of Australia has joined the world's leading central banks in tightening mode. Last week's rate rise was largely unexpected and opinion is split over how far the central bank will go in hiking rates this year.
Issing to leave ECB but monetarism lives on
Otmar Issing's legacy is set to continue, despite his retirement from the European Central Bank at the end of the month, according to this article published Friday 5 May.
An Asian monetary union?
This Working Paper from The Australian National University, published April 2006, empirically examines whether a group of 12 Asian countries is suitable to form an Asian Monetary Union (AMU).