Central Banking
Forecasting ECB monetary policy accuracy
The ECB Working Paper 'Forecasting ECB monetary policy accuracy is (still) a matter of geography' uses a database of surveys of professional ECB policy forecasters in 24 countries, the authors find remarkable differences in forecast accuracy, and show…
Is China accumulating too much foreign cash?
According to this article published on Monday 16 January, with China's reserves now approaching the level of Japanese holdings, there are fears that this vast hoard of foreign exchange exposes the country to risks that could undermine future growth.
Serbian governor denies responsibility for deputy
The head of the National Bank of Serbia said on Friday 13 January that he did not feel responsible for the actions of his deputy, who was arrested for allegedly taking bribes.
Mexican reserves will protect in election campaign
Mexico's large currency reserves offer protection against the risk that the peso could be destabilised during the country's presidential campaign, a regional Fed president said Friday.
US's Snow says some dollar reserves shift normal
U.S. Treasury Secretary John Snow said on Friday 13 January some countries' movement of reserves out of dollar-denominated assets would have only a small impact on U.S. markets.
Greenspan set for book deal, after dinner speeches
Soon to retire Fed chairman Alan Greenspan is keen to start work on a book, and will also become a highly sought-after speaker when he leaves the US central bank, reports said on Monday 16 January.
Draghi begins tenure at Bank of Italy
The new governor of the Italian central bank, Mario Draghi, formally took over his new job Monday 16 January, the Bank of Italy said.
China's forex reserves rise to $819 bn
China's foreign exchange reserves grew nearly $50 billion in the last quarter of 2005 to reach $819 billion, making it likely China will exceed Japan's reserves by the end of the year.
Comment: Riksbank to turn the tide
Incoming Riksbank governor, Stefan Ingves, faces a challenge that few, if any, central bank governors have yet had to confront: making the case for a rate hike at a time when inflation is still below the inflation-targetting central bank's tolerance…
Bank of Zambia - Annual Report 2004
The Bank of Zambia's Annual Report 2004 says that the performance of the Zambian economy was impressive, with a growth rate of 5% GDP.
Kennedy on Canada's monetary policy framework
In the speech 'Canada's monetary policy framework: Dealing with global economic change' given on 12 January Sheryl Kennedy of the Bank of Canada said the effects of rising energy prices are still working through the Canadian economy, as are other factors…
Chicago Fed's Moskow on the US economic outlook
In the speech 'US economic outlook' given on 12 January Michael Moskow of the Federal Reserve Bank of Chicago called for more rate hikes to snuff out any potential for higher inflation at a time U.S. economic growth is on a "self-sustaining" track.
China's conundrum tops Greenspan's riddle
According to this article published on Friday 13 January, China's ascent will become more apparent than ever this year, establishing the nation's status as a superpower and sending new reverberations through the global economic order.
Enough said, Mr. Park
This Editorial published on Friday 13 January urges Bank of Korea Governor Park Seung not to cause any more losses to the country through his verbal mistakes. Following comments made Thursday by Mr Park, the won surged immediately, causing a big…
Eurosystem central bank staff cuts gather pace
The number of central bankers in the eurosystem stands at 49,559, a fall of 5.3% or 7,237 staff since one year ago, and 11.9% lower than when the euro was launched in 1999, reveals the 2006 edition of Central Banking Publications' Central Bank Directory.
Alan Greenspan - Monetary myopia
The accolades bestowed upon Alan Greenspan ahead of his retirement on January 31st have a strong whiff of irrational exuberance, according to this article published on Thursday 12 January. "Does he really deserve such uniform praise?" it asks.
Dallas Fed launches new publication
The Federal Reserve Bank of Dallas has launched 'Economic Letter,' a monthly publication, that will provide commentary on important trends and policy issues shaping the increasingly global economy.
China: No plan to sell dollar assets, buy oil
China has no plan to sell off its US dollar assets, the head of the People's Bank of China, Zhou Xiaochuan, was quoted as saying in the official Shanghai Securities News.
NY Fed to hold credit derivatives meeting
The Federal Reserve Bank of New York has scheduled a meeting on 16 February, to follow up on issues and major developments in the credit derivatives markets since its 15 September 2005, meeting.
BOK vows intervention to stabilise won
The government and the Bank of Korea will make significant efforts to stabilise the Korean economy, according to Korea's top economic official.
Rato suggests greater autonomy for Brazil cb
Even after Brazil paid off its debt with the International Monetary Fund, their partnership will remain, according to IMF Managing Director, Rodrigo de Rato.
Comment:Euro area central banks begin to modernise
Central banks are busy modernizing themselves - indeed, it has become an important element in building credibility. That process almost always involves staff cuts.
Deutsche Bundesbank Monthly Report, December 2005
The Deutsche Bundesbank published the English version of its December 2005 Monthly Report on 10 January. The German central bank said the construction industry may have stabilized in the last few months after declining in the past few years.
Reserve Bank of Zimbabwe - Annual Report 2004
The Reserve Bank of Zimbabwe's Annual Report 2004 notes the urgent need to address the serious macro-economic imbalances, which had permeated the economy.