Central Banking
Comment: Talking points in June
June has been a particularly eventful one for many emerging markets, with talk of increase risk aversion and reduced international liquidity driving a reversal of market sentiment towards emerging market currencies. The month also saw some important…
Fed raises rates, suggests may be nearing end
The Federal Reserve raised US interest rates to the highest point in more than five years Thursday 29 June and suggested the rate hike cycle may be nearing the end.
Nigeria removed from FATF list
In an announcement issued on Friday 23 June the Financial Action Task Force (FATF) announced that Nigeria has been removed from the Non-Cooperative Countries and Territories (NCCT) list.
Iceland appoints new central bank governor
Ingimundur Fririksson was appointed governor of the Central Bank of Iceland on Thursday 29 June.
Fukui, would-be Greenspan of Asia, replaceable
According to this article from Bloomberg published Friday 30 June, Bank of Japan governor Toshihiko Fukui was urged to become the "Greenspan of Japan, if not Asia" soon after he began running the BOJ in 2003.
Bank of Canada, Business Outlook Survey, Summer 06
The Bank of Canada published its Summer 2006 Business Outlook Survey on 30 June, saying businesses continue to be positive about the economic outlook.
The Dutch block of the ESCB multi-country model
This ECB Working Paper, published June 2006, presents the Dutch country block of the ESCB Multi-Country Model (MCM) for the euro area.
ECB paper on monetary policy
The ECB Working Paper "Adaptive learning, persistence, & optimal monetary policy" shows that, when private sector expectations are determined in line with adaptive learning, optimal policy responds persistently to cost-push shocks.
Fischer plans radical bank restructuring
Bank of Israel governor Stanley Fischer has announced a major structural reorganisation of the bank, according to this article by Haaretz, published Friday 30 June.
Bank of Japan may ban staff investment
A Bank of Japan panel decided Friday 30 June to recommend that the central bank ban its executives from investing in private funds, Kyodo News agency reported.
Bank Indonesia - Annual Report 2005
According to Bank Indonesia's Annual Report 2005, the past year of 2005 was not only witness to a number of challenges confronting the economy, but taught us numerous lessons.
When facts change, central bank intentions should
According to this article published by the Financial Times on Wednesday 28 June, by Francesco Giavazzi and Charles Wyplosz, the Bank of England, which once pioneered transparency and innovative communication, is trailing behind other central banks.
Fed views on U.S. inflation targeting
This article from Reuters, published Wednesday 28 June, provides summaries of views voiced by Federal Reserve policy-makers on the merits of stated numerical inflation targets.
BoE's King criticises MPC appointment process
Bank of England governor Mervyn King on Thursday 29 June took aim at the "very much last minute" way in which members were appointed to the Monetary Policy Committee by Chancellor of the Exchequer Gordon Brown.
Fernandez Ordoez nominated as Bank of Spain chief
Spain's finance minister, Pedro Solbes, proposed Miguel Angel Fernandez Ordonez as the new governor of the Bank of Spain on Wednesday 28 June.
Yamamoto says Fukui should resign 'immediately'
Kozo Yamamoto, head of the ruling Liberal Democratic Party's monetary policy panel, said Thursday 29 June that Bank of Japan governor Toshihiko Fukui should resign "immediately" over the Murakami investment scandal.
Hong Kong unlikely to use yuan as reserve currency
The Hong Kong Monetary Authority is unlikely to use the yuan anytime soon as one of its reserve currencies, HKMA chief executive Joseph Yam said Thursday 29 June.
Sao Tome government fires central bank governor
The government of Sao Tome and Principe has dismissed the governor of the country's central bank, the macauhub.com website reported on Wednesday 28 June.
Comment: When 364 economists were wrong
It is rare to find two economists who can agree on anything, but in 1981 no less than 364 British economists agreed to write an open letter condemning the tightness of that year's budget. Amongst them: a certain Mervyn King.
Norges Bank Inflation Report, June 2006
Norges Bank published its Second Inflation Report for June 2006 on Thursday 29 June. The cyclical expansion in the Norwegian economy is continuing, according to the report.
Trichet on further integrating euro area economies
In the speech 'Further integrating euro area economies: some reflections' given on 29 June Jean-Claude Trichet of the ECB said the economic and financial environment is changing and euro area countries are becoming progressively more interdependent.
Transparency, expectations, and forecasts
In 1994 the FOMC began to release statements after each meeting. This ECB Working Paper investigates whether the public's views about the current path of the economy and of future policy have been affected by changes in the Federal Reserve's…
Consultation paper on Payments System Risk Policy
The Federal Reserve has published a consultation paper to seek information from financial institutions and other interested parties on their experience in managing intraday liquidity, credit, and operational risks relating to Fedwire funds transfers and…
Federal Reserve expected to raise rates
Federal Reserve policymakers were widely expected to finish a two-day meeting on Thursday 29 June, by raising US interest rates for the 17th consecutive time to 5.25 percent.