Central Banking
Philadelphia Fed Business Outlook Survey, Feb 2006
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, February 2006, the pace of activity in the region's manufacturing sector picked up in February. The general activity index improved notably this month, and indicators for…
Bank of Sierra Leone - Annual Report 2004
According to the Bank of Sierra Leone's Annual Report 2004, the improved business confidence in 2004 stimulated activity in the agriculture, mining, construction and service sectors.
Norway's Gjedrem on economic perspectives
In the speech 'Economic perspectives' given on 16 February Svein Gjedrem of Norges Bank said the Norwegian interest rate should be gradually - in small, not too frequent steps - brought up to a more normal level.
Macroeconomic challenges with EU accession
The IMF Working Paper "Macroeconomic challenges with EU accession in Southeastern Europe: An overview" published February 2006 reviews key macroeconomic challenges with EU accession in Southeastern Europe (SEE).
BoT Nijathaworn: Are there limits to transparency?
In the speech 'Are there limits to transparency?' given on 23 January Bandid Nijathaworn of the Bank of Thailand said transparency is not just a fad. It is something that will stay. And as organizations making public policy decisions, transparency is of…
Buba worried re cash supply after Heros insolvency
The Bundesbank has called on local branches to lengthen their operating hours after a money-transport company which accounts for around 50 per cent of the German money transport sector filed for insolvency.
OECD's Cotis worried over Europe's growth prospect
OECD Chief Economist Jean-Philippe Cotis said on Tuesday 21 February that European economic growth has been slowed by poor fiscal policies and weak channels of transmission for monetary policy.
Trichet calls Stark a 'remarkable person'
European Central Bank President Jean-Claude Trichet described Bundesbank Vice President Juergen Stark as a remarkable candidate for the ECB's Executive Board on Monday 20 February .
ECB's Wellink sees 2% eurozone growth
Dutch central bank governor Nout Wellink told an audience in Toronto Monday that he was "mildly optimistic" for Europe's future and saw growth in the euro area in the next two years of about 2 per cent.
PBOC vows to maintain a prudent monetary policy
The People's Bank of China vowed on Tuesday 21 February to continue perfecting the managed float of the yuan and to introduce new financial products to help firms hedge new-found currency risk.
Hong Kong may build gold warehouse for China
Hong Kong may soon build a bonded warehouse at its airport to store gold and make the Chinese territory a regional trading hub while feeding rising demand from mainland China, industry officials were quoted as saying on Tuesday 21 February.
Comment: Sepa progress report
In its fourth progress report on the Single Euro Payments Area (Sepa) the ECB says it "expects the European Payments Council (EPC) to take overall responsibility for defining and implementing a monitoring framework for each phase of the migration process…
MAS - Annual Report 2004-2005
According to the Monetary Authority of Singapore's Annual Report 2004-2005, the Singapore economy expanded by a robust 8.4% in 2004, the highest growth rate recorded since 2000.
St Louis Fed's Central Banker, Spring 2006
The St. Louis Fed has published the Spring 2006 edition of its Central Banker magazine. The article "Greenspan's unconventional view of the long-run inflation/output tradeoff" says that the former Fed chairman's views on the relationship between…
BIS' Knight: Challenges for financial institutions
In the speech 'Challenges for financial institutions today' given on 7 February Malcolm Knight of the BIS said many observers and analysts see major macroeconomic risks present in the global economy.
Towards a Single Euro Payments Area - 4th report
In its fourth progress report on the Single Euro Payments Area (SEPA), published Friday, the Governing Council of the ECB defined the final SEPA objectives.
IMF Paper on forecasting ECB monetary policy
Monetary policy in the euro area is conducted within a multicountry, multicultural, and multilingual context involving multiple central banking traditions. This IMF Working Paper published February 2006 asks how this heterogeneity affects the ability of…
New Zealand's new coins introduced on 31 July
The Reserve Bank of New Zealand announced on Monday 20 February that New Zealand's new 50, 20 and 10 cent coins will be introduced on 31 July 2006.
BoE's King on reform of the IMF
In the speech 'Reform of the International Monetary Fund' given on 20 February Mervyn King of the Bank of England said the IMF urgently needs to reassess its purpose and needs more focus, independence and legitimacy.
Garganas says eurozone inflation risks increased
Greek central bank governor Nicholas Garganas said on Friday 17 February that since December's hike in eurozone interest rates, inflation pressures have increased, partly due to rising oil prices.
PBOC says China needs market system for currency
A People's Bank of China vice-governor said the correct value of the Chinese currency will not be determined until Beijing builds a system capable of fully reflecting supply and demand for the currency, Caijing magazine reported.
Comment: Bundesbank stands firm
Leading members of the German parliament are very upset about the refusal of the Bundesbank even to talk about the sale of its gold reserves. In what is turning into a litmus test of its independence, the German central bank has, thus far, stood firm.
Buba's Weber says inflation risks remain
Bundesbank president Axel Weber told a conference on Monday 20 February that inflation risks still exist in the eurozone and a forward-looking monetary policy is needed to counter these risks at an early stage.
Chavez demands more BCV reserves
President Hugo Chavez' government has asked the Central Bank of Venezuela (BCV) for a new transfer of surplus official reserves to the executive branch.