Central Banking
Pushed, prodded, Greenspan leaves openness legacy
This article published on Wednesday 18 January says one of the abiding legacies Alan Greenspan will leave behind when he departs the Federal Reserve at the end of January is a major shift toward openness at the U.S. central bank.
BOJ alone cannot be responsible for recovery
According to this article published Thursday 19 January, it seems the Japanese government is putting the brakes on the economy while demanding the central bank press the accelerator.
Philadelphia Fed Business Outlook Survey, Jan 2006
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, January 2006, activity in the region's manufacturing sector continued to expand at the beginning of 2006.
Iran confirms reserves transfer
The head of the Central Bank of Iran has indicated that Tehran has already started shifting its foreign hard currency reserves amid the threat of sanctions, Iranian media reported on Friday 20 January .
Fukui upbeat on economic recovery
Bank of Japan Governor Toshihiko Fukui increased expectations on Friday 20 January that the central bank could end its ultra-loose monetary policy soon, saying that his opinion on a policy shift had moved forward since December.
IMF's Rajan sees a very promising 2006
The International Monetary Fund's Chief Economist on Friday 20 January predicted better global economic growth in 2006 but warned the European Central Bank against raising interest rates too quickly.
Yellen says Fed shouldn't target bubbles
It should not be the Federal Reserve's role to directly target its policies at bursting possible asset bubbles, San Francisco Fed president Janet Yellen said on Thursday 19 January.
Comment: Fed debate continues
Janet Yellen, president of the San Francisco Fed, on Thursday 20 January came out in strong support of incoming chairman Ben Bernanke's suggestion that the Fed should adopt fully-fledged inflation targetting.
Lacker sees continued clarity move for Fed
Richmond Fed president Jeffrey Lacker said Friday 20 January that Fed chairman-nominee Ben Bernanke will maintain the shift toward greater policy transparency.
IMF repayment hits Brazil's reserves
Brazil's international reserves stood at US$ 53.8 billion at year-end 2005, down US$ 10.5 billion from November, the central bank said.
RBI group to advise on accounting issues
The Reserve Bank of India plans to establish a small group comprising representatives from the Institute of Chartered Accountants of India (ICAI) and the central bank to discuss matters relating to audit and accounting standards.
ECB Monthly Bulletin, January 2006
The European Central Bank published its January 2006 Monthly Bulletin on Thursday 19 January. In the report the ECB said its interest rates remain low and it is therefore keeping a close eye on inflation risks in the euro zone.
Federal Reserve Board - Beige Book, January 2006
The Federal Reserve published its January 2006 Beige Book survey on 18 January. US economic activity increased across the country in the last several weeks of 2005, but rising energy costs worried businesses in some areas, the report said.
Central Bank of the UAE - Annual Report 2004
Preliminary estimates of the balance of payments showed that surpluses were achieved in both the trade balance and the current account in 2004, according to the Central Bank of the United Arab Emirates Annual Report 2004.
Fed's Bies on productivity and economic outlook
In the speech 'Productivity and economic outlook' given on 18 January, Susan Schmidt Bies of the Federal Reserve said last fall's inflation scare has eased somewhat, and the core U.S. inflation rate is at a manageable level.
Inflation targeting: the New Zealand experience
The Reserve Bank of New Zealand released a paper 'Inflation Targeting: the New Zealand Experience and Some Lessons' on Wednesday 18 January , by Dr Alan Bollard and Ozer Karagedikli, which was presented to a conference hosted by the Central Bank of the…
ECB's Issing sees no let up in euro zone growth
European Central Bank chief economist Otmar Issing told a conference on Wednesday 18 January that there are no signs that euro zone growth is slowing.
Bini Smaghi says rate to rise if justified by data
European Central Bank board member Lorenzo Bini Smaghi said on Wednesday 18 January that the ECB will raise its interest rates if new economic data justifies this move.
Bangladesh, Vietnam to sign cb agreement
Dhaka and Hanoi are expected to sign an agreement on cooperation between their central banks during the first meeting of the Bangladesh-Vietnam Joint Economic Commission, scheduled for 6-7 February in Hanoi.
SNB's Roth says price stability not in danger
The chairman of the Swiss National Bank, Jean-Pierre Roth, said on Wednesday 18 January that there are no signs that suggest price stability is in danger in the near term.
Policy shift will be 'headache' says Watanabe
Coping with higher interest rates will pose a "headache" for the Japanese economy, and the central bank is considering how to limit the impact on bonds, according to Hiroshi Watanabe, Japan's vice finance minister for international affairs, who was…
Nigeria's Soludo to speak on global economy
The Central Bank of Nigeria Governor, Prof. Charles Soludo, will speak on the global economy on January 24, at the World Economic Forum in Davos, Switzerland.
Comment: Ugandan banking takes off
A recent IMF working paper documents the vast improvements in the Ugandan banking sector in recent years, arguing that the extension of the central bank's regulatory capacity and the withdrawal of state control have resulted in efficiency gains.
Will Japan target inflation in 2006?
According to this article published on Wednesday 18 January, despite its previous opposition, the Bank of Japan is now likely to find merit in the adoption of a formal inflation target, possibly in conjunction with the government.