Central Banking
The evolving inflation process: an overview
This BIS Working Paper reviews analytical work carried out by central banks that participated in the Autumn Meeting of Central Bank Economists on "The evolving inflation process" which the BIS hosted on 28-29 October 2005.
RBNZ Monetary Policy Statement, March 2006
The Reserve Bank of New Zealand published its March 2006 Monetary Policy Statement on 9 March. The report said that economic indicators are now clearly signalling a slowdown, following New Zealand's longest economic expansion in 30 years.
ECB Monthly Bulletin, March 2006
The European Central Bank published its March 2006 Monthly Bulletin on Thursday. In the report the ECB said the decline of the euro and relatively low interest rates contributed to the strong performance of euro zone stock markets last year.
Fed Reserve Bank of St Louis Review, Mar/Apr 2006
The latest edition of the St Louis Fed's Review for Mar/Apr 2006 includes the article 'Macroeconomic news and real interest rates'. Economic news affects the perceptions of investors, forecasters, and policymakers about the strength or weakness of the…
PBOC says US pressure not a factor on yuan
A People's Bank of China official was quoted on Thursday 9 March as saying that pressure from the US is not a factor under consideration in determining the yuan's exchange rate.
New vice-governor for Slovak central bank
The National Bank of Slovakia is to get a new vice-governor, the Slovak Spectator reported.
Liebscher says EU integration must not be hampered
National Bank of Austria governor Klaus Liebscher said in an interview that EU integration must not be hampered by protectionist measures to fight cross-border mergers in some countries.
RBNZ leaves OCR unchanged at 7.25 per cent
The Reserve Bank of New Zealand announced on Thursday 9 March that its Official Cash Rate (OCR) will remain on hold at 7.25 per cent.
Bank of Japan's statement on policy guidelines
Following is the full text of the Bank of Japan's statement on its change in monetary policy guidelines, Thursday 9 March.
IMF upholds sanctions against Zimbabwe
The Executive Board of the International Monetary Fund met Wednesday 8 March to review Zimbabwe's overdue financial obligations to the Fund and consider the sanctions imposed on Zimbabwe.
Bank of Japan ends quantitative-easing policy
The Bank of Japan voted 7-1 to end its five-year-old super-easy monetary policy on Thursday 9 March at the end of a two-day meeting, but said it will maintain short-term interest rates near zero until its next meeting in April.
Comment: Measuring financial fragility
Central banks and regulators have created well-staffed financial stability departments, producing voluminous reports and reviews. However, policymakers are not always sure what they are aiming at in this opaque, but systemically important, area. New…
State Bank of Pakistan - Annual Report 2004-2005
According to the State Bank of Pakistan's Annual Report 2004-2005, the year remained eventful in many aspects including record high economic growth.
IMF paper on banks during the Argentine crisis
According to the IMF Working Paper "Banks during the Argentine crisis: Were they all hurt equally? Did they all behave equally?" published February 2006, the simple answer to both questions in the title is: No.
The monetary transmission mechanism in Jordan
This IMF Working Paper, published February 2006, examines monetary transmission in Jordan using the vector autoregressive approach.
Past and future of central bank cooperation
The BIS on Tuesday published papers from its fourth Annual Conference on Past and Future of Central Bank Cooperation, held as part of the Bank's 75th anniversary celebrations, on 27-29 June 2005.
Fed's Stern doesn't see inflation accelerating
According to this article published on Monday, 6 March Minneapolis Fed president Gary Stern is about as relaxed regarding inflation as a central banker can be.
Japan's Abe praises Fukui's wisdom
Japan's top spokesman repeated the government's position on Wednesday 8 March that the Bank of Japan should exercise caution over scrapping its ultra-loose monetary policy.
Greenspan's memoirs sold to Penguin
Former Federal Reserve Chairman Alan Greenspan signed a deal on Tuesday to publish his memoirs with The Penguin Press.
Prime Minister of Lithuania visits ECB
The Prime Minister of the Republic of Lithuania, HE Algirdas Brazauskas, visited the European Central Bank (ECB) on Tuesday.
Swedish Riksbank unanimous in rate hike decision
The Swedish Riksbank's board was unanimous in its 22 February decision to raise the repo rate by 0.25 pct to 2 pct, according to the minutes of the meeting published Wednesday.
Fed's Poole says more rate hikes may be needed
The U.S. economy has a "great deal of momentum" and the Federal Reserve may have to raise interest rates further, one of its top policymakers said on Monday 6 March.
Comment: Has the ECB become more credible?
A recent New York Fed staff paper finds that market perceptions of the ECB's "inflation aversion" have improved significantly over the last six years, reflecting the idea that monetary policy has been guided by a dedication to price stability.
ECB warns on further Asian reserves build-up
The ECB said in a paper published Wednesday 8 March that a further build-up of foreign exchange reserves in Asia could lead to problems such as inflation pressures and asset price bubbles.