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Central Banking

Sweden's Rosenberg on inflation targeting

In the speech 'The Riksbank's inflation targeting policy - the significance of the new interest rate assumption' given on 19 April Irma Rosenberg of the Sveriges Riksbank said that the strong level of economic activity in conjunction with current…

U.S. may rethink size of IMF stake

According to this article published on Wednesday 19 April, the United States will consider reducing its voting stake in the International Monetary Fund as part of an overhaul that would require the lender to increase scrutiny of nations' currency…

FOMC minutes suggest end to rate rises

According to the minutes of the Federal Reserve's meeting on 27-28 March released on Tuesday 18 April, policy-makers felt that the U.S. central bank was nearly finished raising interest rates, but remained worried about potential inflation risks.

Bernanke sees energy effects fading

Fed chairman Ben Bernanke said in a letter published on Monday 17 April that the increase in energy prices since late 2003 will not have a lasting impact on U.S. inflation as long as the Federal Reserve conducts policy appropriately.

IMF World Economic Outlook, April 2006

The International Monetary Fund published its World Economic Outlook April 2006 on 19 April. In the report the IMF said the ECB shouldn't "rush" to raise interest rates even as the eurozone economy expands this year by the most since 2004.

Comment: IMF reform checklist

The International Monetary Fund on Wednesday 19 April released its latest World Economic Outlook. Its central projection sees global growth at 4.75 percent in 2006 and 2007. The distribution of risks, however, is increasingly slanted to the downside.

Bank of France - Annual Report 2004

According to the Bank of France's Annual Report 2004, despite persisting risks, the international environment was buoyant in 2004 and monetary policy remained very accommodating within the euro area.

Fed's Kohn on the economic outlook

In the speech 'Economic outlook' given on 13 April Donald Kohn of the Federal Reserve said the U.S. central bank was focused on keeping inflation curbed though he anticipates the pace of economic growth will ease in coming months.

Transparency, expectations, and forecasts

Since 1994 the Federal Open Market Committee has increased the transparency about its economic outlook. This paper from the Federal Reserve Bank of Atlanta investigates whether this transparency has helped private agents improve their economic forecasts.

Fed comments and data point to one more increase

According to this article published on Tuesday 18 April, recent comments from Federal Reserve officials and the latest economic data continue to suggest that the cycle of US interest rate increases will come to an end next month.

Italy's Prodi may pick Padoa-Schioppa on economy

Italy's centre-left leader Romano Prodi is expected to pick former European Central Bank board member Tommaso Padoa-Schioppa as economy minister, if Prodi succeeds in forming a government, said La Stampa Saturday in an unsourced report.

ECB to advise GCC states

The European Central Bank will advise Gulf states on their plans for possible monetary union a spokesman for the ECB was quoted by AFX as saying on Tuesday 18 April.

Turkey names new central bank governor

Turkish President Ahmet Necdet Sezer approved the government's nominee for central bank governor on Tuesday 18 April after rejecting an earlier candidate, Economy minister Ali Babacan announced.

BoJ minutes show govt urged zero rates

The Bank of Japan was urged by the government to keep interest rates at zero when it ended its ultra-easy monetary policy last month, but the BoJ noted the risks of policy becoming too accommodative, minutes released Friday 14 April showed.

ECB's Issing sees overheating risks

Eurozone housing markets are at risk of overheating and strong money and credit growth is a danger to price stability, European Central Bank chief economist Otmar Issing said in a newspaper interview.

Comment: New governor for CBRT

The appointment of Durmus Yilmaz as governor of the Central Bank of the Republic of Turkey brings to an end weeks of turmoil as the government struggled to find a successor to the inflation-busting Sureyya Serdengecti.

Stone on the national & regional economic outlook

In the speech 'National and regional economic outlook' given on 6 April William Stone of the Federal Reserve Bank of Philadelphia said the Federal Reserve must remain vigilant on inflation, but for now incoming data can guide future policy moves.

Dallas Fed's Fisher on global competition

In the speech 'Racing to the top: How global competition disciplines public policy' given on 11 April Richard Fisher of the Federal Reserve Bank of Dallas said globalization has helped to cut U.S. inflation, but has not helped governments to control…

China short-term gold additions unlikely - GFMS

The People's Bank of China is very unlikely to increase its gold reserves in the short-term but in the medium- to long-term there is "excellent scope" for gold purchases by the central bank, metals consultancy GFMS said on Wednesday12 April.

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