Central Banking
Deutsche Bundesbank Monthly Report, November 2005
The Deutsche Bundesbank published the English version of its November 2005 Monthly Report on 20 December. The German central bank said it still expects GDP to grow around 1 pct this year following a faster-than-expected rise in the third-quarter…
St Louis Fed's Regional Economist, January 2006
The Regional Economist, January 2006 edition, from the St Louis Fed includes the article "A lesson in productivity for higher ed". College tuition has increased dramatically over the past decade, yet few think the quality of graduates has kept up…
Latin American monetary policy reform in the 90's
The Central Bank of Chile Working Paper "The 1990's institutional reform of monetary policy in Latin America," published December 2005, takes stock of the institutional reform of monetary policy in Latin America since the early 1990s.
Bank of Italy rejects Unipol bid
The Bank of Italy said on Tuesday 10 January it had rejected insurer Unipol's 5 billion euro ($6 billion) bid for BNL. The move marks the second domestic bank takeover offer to fail following the financial scandal that tarnished Italy's image.
Regulators should not be competition authorities
Does the Bank of Italy's rejection of the takeover bid for Banca Nazionale de Lavoro by Italian insurer Unipol mean that the Italian authorities have stopped protecting the Italian banking system?
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Fed's Fisher: Globalization impact on mon. policy
In the speech 'Coping with globalization's impact on monetary policy' given on 6 January Richard Fisher of the Federal Reserve Bank of Dallas reiterated his vow to keep inflation contained, and offered again his concerns about the budget deficits the…
Fed's Hoenig on the national economy & mon. policy
In the speech 'The national economy and monetary policy in the new year' given on 9 January Thomas Hoenig of the Federal Reserve Bank of Kansas City said the U.S. central bank has pushed interest rates into the lower end of a "neutral" range and where…
Fed's Guynn on strengthening economic foundation
In the speech 'Now is the time to strengthen our economic foundation' given on 9 January Jack Guynn of the Federal Reserve Bank of Atlanta said the U.S. economy was on track for a third consecutive year of good growth in 2006, and it was essential policy…
BIS to host Irving Fisher Committee
The Bank for International Settlements (BIS) announced on Tuesday10 January that it has agreed to provide the Secretariat for the Irving Fisher Committee on Central Bank Statistics with immediate effect.
Europe's central bank must show some backbone
According to this article published on Monday 9 January , political pressure could be responsible for the European Central Bank's 'timid' interest rate move last month.
Federal Reserve needs English elocution lessons
Once Ben Bernanke becomes Federal Reserve chairman after the bank's 31 Jan meeting, suggests this article published on Tuesday 9 January, a top priority should be ending the textual semaphore that's become the central bank's way of not quite…
Tanigaki warns BOJ in ending loose policy
Japanese Finance Minister Sadakazu Tanigaki on Monday 9 January urged the Bank of Japan to be cautious in determining when to end its ultra-loose monetary policy.
German govt confirms Bundesbank staff cut plan
The German government is considering plans to reduce the size of the Bundesbank's staff with cuts that go beyond a current round of planned reductions, the Finance Ministry said on Saturday 7 January.
Burundi central bank gets new governor
Burundi President Pierre Nkurunziza has appointed economist Gabriel Ntisezerana as the new governor of the Bank of the Republic of Burundi (BRB) instead of Gabriel Toyi, official sources said in Bujumbura.
McCreevy welcomes new Bank of Italy governor
European Internal Market Commissioner Charlie McCreevy Tuesday 10 January welcomed Mario Draghi's appointment as the new governor of the Bank of Italy.
China mulls reserves shift to liquid assets
People's Bank of China officials revealed more on Tuesday 10 January as to how they are likely to manage their foreign-exchange reserves, saying they won't sell off a large amount of existing US dollar holdings but may move some reserves into other…
Wellink says growth pickup may see rates higher
European Central Bank council member Nout Wellink said Monday 9 January a pickup in economic growth raises the chances of further increases in interest rates.
Boston Fed's Minehan on uncertainty
In the speech 'How should monetary policymakers cope with uncertainty?' given on 6 January, Cathy Minehan of the Federal Reserve Bank of Boston said the U.S. has entered a period in which Federal Reserve policy changes are increasingly dependent on…
The costs of increasing transparency
This Working Paper from De Nederlandsche Bank, published January 2006, sets up as an explicit interactive game between the Central Bank, the objectives of which is modelled explicitly, and the private sector. The authors show that in the absence of costs…
Jurgen Stark on the IMF's strategic direction
In an Editorial published on Friday 6 January, Jurgen Stark, currently vice president of the Deutsche Bundesbank, says efforts to strengthen the IMF's surveillance function and the so-called "exceptional access framework" - must now be locked in and…
Fed speeches may send investors in wrong direction
This article published on Saturday 7 January reports on research presented in Boston by Vincent Reinhart, director of the Fed's monetary affairs division, and Brian Sack, a former Fed economist which says Federal Reserve speeches "are the least accurate…
Federal Reserve Bulletin, Autumn 2005
The Federal Reserve published its Bulletin for Autumn 2005 on 5 January. The article 'Recent developments in the credit card market and the financial obligations ratio' says three developments in the credit card market contributed to the rise in the…
Central bankers upbeat on world economy
The global economy is growing at a dynamic pace and may even accelerate in 2006, central bankers from major countries said on Monday 9 January.