Central Banking
St Louis Fed's Poole on inversion
In the speech 'Inversion' given on 18 May William Poole of the Federal Reserve Bank of St. Louis said he's "been a bit puzzled" by talk beginning last fall that an inverted yield curve would likely herald a recession.
BoE's Walton on a shift in the balance of risks
In the speech 'A shift in the balance of risks' given on 18 May David Walton of the Bank of England said listed five main reasons why the upside risks had emerged and necessitated an immediate quarter point increase in the central bank's key rate to 4.75…
RBNZ Financial Stability Report, May 2006
The Reserve Bank of New Zealand published its May 2006 Financial Stability Report on 19 May. RBNZ governor Alan Bollard said that New Zealand's financial system is well placed to weather the slowdown in the economy.
ECB's Trichet on structural reforms in Europe
In the speech 'Structural reforms in Europe' given on 22 May Jean-Claude Trichet of the ECB said the European Union is undergoing an important process of reforms of its socio-economic model so as to adapt it to future challenges.
Greenspan says housing bubble over
Former Federal Reserve chairman Alan Greenspan said Thursday 18 May, in his first public U.S. speech since retiring in January, that US consumption could fall now that the US housing market's "extraordinary boom" has ended.
ECB wants action on reform agenda - Trichet
European Central Bank president Jean-Claude Trichet on Monday 22 May called on the EU to implement its structural reform programme which has been revamped.
BoE's Nickell sees UK inflation checked
Spare capacity in the UK economy will help lower inflationary pressures, and will keep inflation below the Bank of England's target, according to outgoing Bank of England Monetary Policy Committee member, Steve Nickell.
Roach urges new monetary policy approach
In comments published on Monday 22 May, Stephen Roach of Morgan Stanley said he is worried that central banking's recent record will not be judged kindly by history.
Rato says more Fed hikes may be needed
International Monetary Fund chief Rodrigo Rato said on Monday 22 May that the Federal Reserve may need to continue raising interest rates depending upon how US economic conditions evolve.
PBOC says China to boost yuan flexibility in 06
China will boost the flexibility of the yuan this year, the central bank said in its annual report published in the China Securities Journal over the weekend.
Comment: Issing's parting shot
In his final speech before stepping down as chief economist and member of the executive board of the ECB, Otmar Issing yesterday said the adoption of the euro has prevented damaging currency speculation. He also admitted that he was somewhat of a "euro…
Qatar appoints Lord Woolf to regulatory tribunal
Lord Woolf, formerly Lord Chief Justice, is to be appointed as the senior judge for Qatar's new financial centre. He will become the first President of the Qatar Financial Centre (QFC) Tribunal, which he will help establish, and he will preside over…
Bank of Albania - Annual Report 2004
According to the Bank of Albania's Annual Report 2004, the development of the Albanian economy during 2004 was in compliance with the main objectives of the country's economic development strategy.
BoE's Tucker on uncertainty, monetary policy, risk
In the speech 'Uncertainty, the implementation of monetary policy and the management of risk' given on 19 May Paul Tucker of the Bank of England said consumption growth in the UK today has become far more stable than in previous years, thanks to…
Treasuries' safe-haven status faces growing threat
According to this article published Wednesday 17 May, long-term threats to the status of Treasury bonds as a safe haven are gathering even as global investors pour money into U.S. government debt.
The new Fed chairman faces the same old dilemma
Ben Bernanke is facing the age-old test all central bankers eventually have to confront: what to do in the face of slowing growth and rising inflation, according to this article published Thursday 18 May.
ECB's Target Annual Report 2005
The European Central Bank (ECB) published the TARGET Annual Report 2005 on Friday 19 May. This publication, which is the sixth of its kind, gives an overview of TARGET operations in 2005.
Work on converging accounting standards must go on
According to this article by Tommaso Padoa-Schioppa, published Friday 19 May, convergence between IASB and US standards is just one step on the road towards high quality, understandable and enforce-able global accounting standards.
Comment: Safe hands for Fed No. 2 spot
US president George W. Bush opted for a safe pair of hands in the form of Donald Kohn to replace Roger Ferguson as No. 2 at the Fed. Kohn, a 36-year Fed veteran, will be both a countervailing and supplementary force to the more studious Ben Bernanke.
Rato appoints committee to study IMF costs
IMF Managing Director Rodrigo de Rato on Thursday 18 May announced the appointment of a committee of eminent persons to provide the Fund with an independent view of the available options for ensuring that it has a sustainable and durable income base with…
IMF's Rato proposes new first deputy MD
Rodrigo de Rato, Managing Director of the International Monetary Fund (IMF), on Thursday 18 May proposed the appointment of John Lipsky to the position of First Deputy Managing Director.
Kyrgyzstan approves new central bank chief
Kyrgyzstan's parliament on Thursday 18 May approved by majority vote the appointment of Marat Alapayev as chairman of the National Bank of Kyrgyz Republic, RIA Novosti reported.
Kohn going to be next Fed vice-chairman
US president George W. Bush on Thursday 18 May announced plans to nominate Fed governor Donald Kohn to be vice chairman of the Federal Reserve Board of Governors.
Fed's Kohn on the evolving financial system
In the speech 'The evolving nature of the financial system: Financial crises and the role of the central bank' given on 18 May Donald Kohn of the Federal Reserve said U.S. bank regulators are focused on encouraging market discipline, sound risk…