Central Banking
Riksbank research on exchnage rates
Sweden's Riksbank has initiated cooperation with a number of external researchers as a complement to the bank's regular research to make a broader, more in-depth analysis of the development of the Swedish krona and its determinants.
BOJ deputy suggests 1% inflation benchmark
Bank of Japan deputy governor Kazumasa Iwata said the consumer price index needs to show a year-on-year rise of 1 pct over a period of 1-1/2 to two years to ensure that deflation is defeated, the Nikkei News Service reported.
ECB's Bini Smaghi says rates could rise
The European Central Bank could raise its official interest rate to 2.25 pct from 2.00, when the bank's governing council meets tomorrow, said ECB executive Lorenzo Bini Smaghi on Wednesday 30 November
ECB's Tumpel-Gugerell on SEPA
In the speech 'SEPA: making the dream become a reality' given on 15 November Gertrude Tumpel-Gugerell of the ECB said the ECB acts as a helping hand to create, out of the many different national payment schemes, one pan-European scheme for each of the…
Comment: Frosty start for Bundesbank and new govt
Relations between the German Bundesbank and the new coalition government of Angela Merkel have got off to frosty start. Bundesbank president Axel Weber has been critical of plans to consolidate public finances.
Deutsche Bundesbank Monthly Report, October 2005
The Deutsche Bundesbank published the English version of its October 2005 Monthly Report on 25 November. Following a sharp improvement at the beginning of the third quarter, industrial business activity slackened somewhat in August.
Banks' attitude 'key to gold's fortunes'
According to this article published on Friday 25 November, fresh impetus in the gold price and continued uncertainty about the outlook for the dollar could change central banks' attitude towards the gold reserves they have been inclined to sell off over…
ECB's Trichet on European financial integration
In the speech 'The state of European financial integration' given on 28 November Jean-Claude Trichet of the ECB said further EU financial integration would be positive for economic growth.
Canada's Dodge on investing in productivity
In the speech 'Investing in productivity' given on 28 November David Dodge of the Bank of Canada said Canada must reduce its public infrastructure deficit or risk harming productivity and prosperity.
How should central banks communicate?
This European Central Bank Working Paper published on 25 November shows that central bank communication is a key determinant of the market's ability to anticipate monetary policy decisions and the future path of interest rates.
Change in Fed statement is coming (either way)
According to this article published on Monday 28 November, the part of the Fed's statement on the balance of risks to the Committee's objectives has degenerated, as have all the Fed's formulaic means of conveying an inter-meeting bias or long-term…
PBOC officials to miss G7 meeting
The People's Bank of China said on Monday 28 November that its governor and vice governors won't be attending the Group of Seven meeting of finance ministers and central bank governors which takes place in London this weekend.
Azerbaijan to issue new banknotes
The National Bank of Azerbaijan is preparing to present new banknotes, according to NBA board chairman Elman Rustamov.
Russian people keep $30bn
The Central Bank of Russia has evaluated the volume of hard currency accumulated by residents at $20 billion to $30b, central bank chairman Sergei Ignatyev told a session at the State Duma.
OECD names Mexican as secretary-general
The OECD named Mexican former Foreign Minister Angel Gurria as its next secretary-general on Friday 25 November, after he received backing from a majority of the organization's 30 member countries.
UK to make statistics office independent
UK Chancellor of the Exchequer Gordon Brown said Monday 28 November that the Treasury intends to make the Office for National Statistics independent from the government.
Share price rise benefits BOJ
A surge in Japanese share prices has seen the Bank of Japan's holdings of shares in business firms increase to a record 1,132.3 billion yen as of Sept. 30.
Fed's Ferguson: Market stress may affect policy
Federal Reserve Vice Chairman Roger Ferguson said in a speech released on Monday 28 November that central banks may consider changing interest rates if financial stresses on markets or institutions put financial stability at risk.
OECD says ECB should leave rates 'unchanged'
The OECD joined in on the debate over an expected increase in eurozone interest rates, warning Tuesday 29 November that the cost of borrowing should be left "unchanged."
Comment: Euro adoption order changes
Slovakia's decision on Friday 25 November to join the Exchange Rate Mechanism II (ERM II) with immediate effect took markets by surprise. Policymakers had been saying they were aiming at mid-2006 for joining the ERM II, which serves as a crucial…
BoE's Large on liquidity risk in a global system
In the speech 'Financial Stability: Managing liquidity risk in a global system' given on 28 November Andrew Large of the Bank of England put the case for central banks and regulators in all jurisdictions to review the appropriateness of current liquidity…
Mboweni's financial & economic review of the year
In the speech 'A financial and economic review of the year' given on 24 November Tito Mboweni of the South African Reserve Bank said global oil prices and domestic demand still posed "significant risks" to South Africa's inflation outlook, but so far…
Rato on problems and issues in the global economy
In the speech 'Problems and issues in the global economy: A call for action' given on 22 November Rodrigo de Rato of the IMF said we need action on IMF governance.
Dodge on inflation targeting in Canada
In the speech 'Inflation targeting in Canada: Design, lessons, and challenges' given on 14 November David Dodge of the Bank of Canada said the bank is unlikely to change its practice of using the consumer price index as its target for monetary policy.