Central Banking
Greenspan says flexibility crucial to economy
The ability of the US to weather a surge in energy prices is the latest example of how economic flexibility helps prevent serious recessions, Federal Reserve Chairman Alan Greenspan said on Wednesday 12 October.
Fukui says BOJ in critical period on policy
Bank of Japan Governor Toshihiko Fukui said on Wednesday 12 October that the BOJ was entering a critical phase for deciding an end to its ultra-loose monetary policy.
G7 meeting fixed for London on Dec 2-3
G7 finance ministers and central bank governors will hold a special meeting in London on 2-3 Dec, a UK Treasury spokeswoman said on Tuesday 11 October.
Proposed BOT Bill will increase authority
Thailand's Finance Ministry is currently considering the drafts of the Bank of Thailand Bill and the Currency Bill. If implemented, the new rules will broaden the BOT's authority to manage international reserves.
Fed's Bies on regulatory issues
In the speech 'Regulatory issues' given on 12 October Susan Bies of the Federal Reserve said banks were taking increased risks in real-estate lending, adding they could be hurt if interest rates rise or home prices decline.
Snow calls on China to make yuan more flexible
U.S. Treasury Secretary John Snow called on China to continue with development of its financial markets on Wednesday 12 October, including a more flexible exchange-rate system.
Comment: "Critical period," says Fukui
Yesterday was an important day for the Bank of Japan. All eyes were on its governor, Toshihiko Fukui, as he spoke after the latest policy board meeting. Also, deputy governor, Toshiro Muto, delivered parliamentary testimony.
RBA's Stevens on economic conditions and prospects
In the speech 'Economic conditions and prospects October 2005' given on 11 October Glenn Stevens of the RBA said record fuel prices will stoke Australia's inflation rate in the third quarter and may lead to longer-term increases in the cost of other…
HKMA's Topping on improving the management of risk
In the speech 'Improving the management of risk through implementation of Basel II' given on 27 September Simon Topping of the HKMA said although preparations for the implementation of the new capital framework are well advanced in a large number of…
Gjedrem on the outlook for the Norwegian economy
In the speech 'Monetary policy and the outlook for the Norwegian economy' given on 10 October Svein Gjedrem of Norges Bank said the Norwegian economy is in an upturn and is now expanding at a brisk pace.
US gains little by urging IMF to hound China
This recent article looks at comments by Tim Adams of the U.S. Treasury: that had the IMF used its power of "special consultations" with countries more often, it could now use moral suasion on China to make it accept a stronger yuan.
Bank of Canada, Business Outlook Survey, Autumn 05
The Bank of Canada published its Autumn 2005 Business Outlook Survey on 7 October, saying firms overall remain positive about the economic outlook.
Brown should bank on a change of approach
This article published on Tuesday 11 October asks whether it could be time for the UK's Chancellor to re-order the remit of the Bank of England's MPC? Or at least place growth, which ultimately leads to jobs and prosperity, as an equal priority to price…
Sweden's Riksbank appoints new governor
The Riksbank General Council on Tuesday 11 October appointed Stefan Ingves to succeed Lars Heikensten as Governor of Sveriges Riksbank.
Bank of Italy says still talking to ECB
The Bank of Italy said Tuesday 11 October it was still talking with the European Central Bank about its role in a controversial takeover battle and denied a press report claiming the ECB had concluded that Antonio Fazio broke banking rules.
Hungary's PM says euro date needs more thinking
Hungarian Prime Minister Ferenc Gyurcsany said Tuesday 11 October that adopting the euro in 2010 needs more consideration because of the social implications of the budget spending reductions the move would require.
Belarus, Russia agree on ruble introduction plan
The National Bank of Belarus and the Russian central bank have approved a plan of action to introduce the Russian ruble as sole legal tender in Belarus.
Italy Senate approves central bank reform
Italy's Senate on Tuesday 11 October approved a bill to reform the Bank of Italy and the financial sector.
Comment: ECB on banking in the EU
The ECB recently published its annual report on EU banking structures, outlining the main developments in the sector in 2004 and the first half of 2005. The report identifies a number of important structural developments that are of great importance for…
ECB report on EU banking structures
The European Central Bank on Friday 7 October published a report on EU banking structures, prepared by the Banking Supervision Committee of the European System of Central Banks (ESCB).
Buba's Zeitler on combating counterfeit money
In the speech 'Strategies for combating counterfeit money in Germany' given on 5 October Franz-Christoph Zeitler of the Bundesbank said preventing and combating counterfeits remains an ongoing task for central banks.
Chicago Fed 's Moskow on monetary policy
In the speech 'Reflections on monetary policy: Flexibility, transparency, and inflation guidelines' given on 26 September Michael Moskow of the Federal Reserve Bank of Chicago said he was wary of setting strict numerical targets for inflation and that a…
Has financial development made the world riskier?
This paper by Raghuram Rajan discusses the implications for monetary policy and prudential supervision of an increase in financial-sector-induced turmoil for some economies, due to developments in the financial sector.
ECB's Trichet on the euro area economy
In the speech 'The euro area economy: determinants of growth, competitiveness and the need for structural reforms' given on 10 October Jean-Claude Trichet of the ECB said euro zone growth may fall below 2 pct in the period up to 2010 and below 1.5 pct by…