Central Banking
Russian reserves hit all time high
Russia's gold and foreign exchange reserves, boosted by record world oil prices, have touched an all-time high of $243.3 billion, the central bank said on Thursday 1 June.
Adviser says China should buy gold with reserves
China should use its foreign-currency reserves to buy gold and oil as a hedge to guard against the risk of a sudden drop in the U.S. dollar, according to a member of the central bank's advisory board.
Bernanke subcommittee to explore communication
Federal Reserve chairman Ben Bernanke has called on three experienced Fed officials to explore a broad range of issues related to how the Fed talks to financial markets.
Comment: Fed ponders communication strategy
The minutes of the US Fed's last monetary policy meeting, released this week, have enhanced the perception of an uncertain FOMC, and strengthened the view that further rate increases will be required. A close look at recent events show that the issue of…
Which news moves the euro area bond market?
This ECB Working Paper explores a long dataset (1999-2005) of intraday prices on German long-term bond futures and examines market responses to major macroeconomic announcements and ECB monetary policy releases.
BIS paper on dynamic prudential regulation
The BIS Working Paper "Dynamic prudential regulation: Is prompt corrective action optimal?" investigates whether reliance on book-value capital is a good policy choice and if PCA is an optimal regulatory approach.
Yellen on monetary policy in a global environment
In the speech 'Monetary policy in a global environment' given on 27 May Janet Yellen of the Federal Reserve Bank of San Francisco said a depreciation in the U.S. dollar could increase the need for tighter Federal Reserve monetary policy.
RBA's Stevens on risk and the macroeconomy
In the speech 'Risk and the macroeconomy' given on 27 May Glenn Stevens of the Reserve Bank of Australia said interest rates around the world can't stay low and steady ``permanently'' and central banks will continue to control inflation.
Comment: Replacing Issing
Pressure is mounting on the ECB to finalise the reshuffle of its executive board, necessitated by the departure of its chief economist and head of research, Otmar Issing, this week. The absence of any official announcements on the matter is leading to…
Bank of Jamaica to stick with US dollar reserves
The governor of the Bank of Jamaica, Derick Latibeaudiere, has said that the central bank will continue to maintain Jamaica's net international reserves (NIR) in U.S. dollars.
Former Fed chair Volcker faults US policy
Former chairman of the Federal Reserve Paul Volcker has said US policy abroad is too abrasive.
PBOC to increase yuan flexibility
The People's Bank of China said in its first quarter monetary report that it will increase the flexibility of the yuan's exchange rate mechanism and intervene less in determining the currency's value.
ECB's Wellink says ECB should raise rates
European Central Bank council member Nout Wellink said in an interview that interest rates need to be increased because of rising inflation expectations.
Japan's Tanigaki sees continuity with Paulson
Japanese Finance Minister Sadakazu Tanigaki said Wednesday 31 May that he does not believe, at least for now, that there will be a change in the U.S. foreign exchange policy under Treasury Secretary nominee Henry Paulson.
RBA's Stevens calls for continuity
Glenn Stevens, deputy governor of the Reserve Bank of Australia, has called for "continuity" above all else when it comes to finding a replacement for governor Ian Macfarlane in September.
Fed's Olson on community development
In the speech 'Community development and the bigger picture' given on 25 May Mark Olson of the Federal Reserve said recent news on the U.S. economy has been positive on balance and forecasters expect activity to moderate to a more sustainable pace than…
Reflections on operating inflation targeting
In a paper delivered on Thursday 25 May at the Graduate School of Business of the University of Chicago, Paul Tucker of the Bank of England sets out some reflections on the operation of an inflation targeting regime after four years on the MPC.
Rybinski on inflation targeting, challenges ahead
In the speech 'Inflation targeting and the challenges ahead' given on 18 May Krzysztof Rybinski of the National Bank of Poland said that since 1990, when the pioneering Reserve Bank of New Zealand first introduced inflation targeting, over twenty…
Fed Reserve Bank of Dallas - Annual Report 2005
The Federal Reserve Bank of Dallas's Annual Report 2005 includes the essay "Racing to the top: How global competition disciplines public policy." All over the world, consumers are getting more of what they buy from other countries. Since 1987, exports…
ECB paper on catching-up member states
The ECB Working Paper "Implications of monetary union for catching-up member states," published May 2006, examines the implications of monetary union for macroeconomic stabilisation in catching up participating countries.
Comment: May in Review
Inflation concerns and financial markets volatility returned in the month of May - central bankers around the world, in both the developed and developing world, are suddenly confronted with a very different environment.
Dodge on the Canadian economy
In a speech given on 30 May David Dodge of the Bank of Canada said the past few years have seen extraordinarily strong global economic growth.
New Zealand hosts EMEAP central bank governors
Central bank governors from major countries in the region gathered in New Zealand over the weekend to discuss common issues, Reserve Bank of New Zealand governor Alan Bollard said Monday 29 May.
IMF names Liam P. Ebrill as HR director
Rodrigo de Rato, Managing Director of the IMF, on Friday 26 May named Liam P. Ebrill to the position of Director of the Human Resources Department to succeed Jorge Marquez-Ruarte.