Central Banking
OECD's Gurria calls for global imbalances action
Washington and Beijing need to back their words with action, after pledging to deal with global economic imbalances, the incoming chief of the Organization for Economic Cooperation and Development said on Thursday 16 February.
Bank of Canada Review, Winter 05-06
The Bank of Canada published its Review for Winter 2005-2006 on 16 February. The Review includes the article "70 Years of Central Banking: The Bank of Canada in an International Context, 1935-2005".
Comment: Inflation targetting
A number of emerging market economies have encountered problems in the early stages of inflation targetting. The latest to hit some bumps in the road in is the National Bank of Romania.
Romania to keep 2006 inflation target
The National Bank of Romania this week published its third inflation report since adopting inflation targetting in August last year. Despite forecasts suggesting that inflation will overshoot the upper limit of this year's target, the central bank has…
Lacker on transition and continuity at the Fed
In the speech 'Transition and continuity at the Federal Reserve in 2006' given on 14 February Jeffrey Lacker of the Federal Reserve Bank of Richmond said that incoming Fed Chairman Ben Bernanke must preserve the hard-won credibility for maintaining low…
Bank of England Inflation Report, February 2006
The Bank of England published its February 2006 Inflation Report on 15 February. Governor Mervyn King told a press conference the outlook for the UK economy is "benign" and the slowing of consumer spending growth that began in the middle of 2004 "appears…
Solomon Islands - Annual Report 2004
According to the Central Bank of Solomon Islands Annual Report 2004, the economic performance in 2004, although generally positive, highlighted the vulnerability and fundamental structural weaknesses underlying the economy.
Federal Reserve's Monetary Policy Report, Feb 2006
The Federal Reserve published its February 2006 Monetary Policy Report to the Congress on Wednesday 15 February. The U.S. economy should continue to perform well in 2006 and 2007. But higher energy prices will probably exert some restraint on activity…
Bernanke says more rate rises 'may' be necessary
Ben Bernanke told Congress on Wednesday 15 February that more US rate hikes "may" be necessary as the threat of higher inflation persists despite a year-and-a-half of steady tightening.
Sweden's Rosenberg on monetary policy
Sveriges Riksbank deputy governor Irma Rosenberg gave a speech on Tuesday saying new information made available since January appears to confirm indications in December that the development of economic activity is stronger than expected.
Fed nominees emphasise inflation control
The two nominees for the Federal Reserve Board, Randall S. Kroszner and Kevin M. Warsh, said on Tuesday 14 February, in testimony to the Senate Banking Committee that controlling inflation was the key to maintaining economic growth in the United States.
Fisher: Fed won't let inflation raise "ugly head"
Dallas Fed President Richard Fisher said on Tuesday 14 february that the Federal Reserve is committed to pursuing monetary policy that supports economic growth without higher inflation.
ECB is wrong to stamp on Europe's property boom
The ECB is wrong to be complaining about house prices, according to this article published Wednesday 15 February. You can't target anything unless you know what you are aiming at, it says.
Comment: Bernanke's debut
New Fed chairman, Ben Bernanke, provided little further insight into the likely further path of interest rates in the US on Wednesday. On the whole he painted a fairly rosy picture of the economy's health - both in a cyclical and structural sense. His…
SADC central banks meet in Malawi
Central banks from the Southern Africa Development Corporation (SADC) region are meeting at Ryalls Hotel in Malawi's commercial city of Blantyre to devise new laws that would be used as a benchmark for the standardization of central banks.
PBOC rules out 2nd revaluation - reports
The People's Bank of China has ruled out a second revaluation of its currency, but plans broader reform of its interest rates, including a simplification of deposit rates, local media said on Wednesday 15 February.
Phil Fed's Survey of Professional Forecasters
The Federal Reserve Bank of Philadelphia published its First Quarter 2005 Survey of Professional Forecasters on 13 February. The U.S. economy will grow strongly in the first quarter, following unexpectedly slow growth in last year's fourth quarter,…
Greenspan remains relevant in gold debate
This article published on Friday 10 February looks at recent comments by Alan Greenspan that the recent strength of the gold price is all down to the uncertain international political situation. Overnight developments in the US support Greenspan's thesis…
Let's cut the bullion about holding gold
This article published on Saturday 11 February asks whether the Reserve Bank of Australia has made a costly blunder in its management of Australia's international reserves. This task is surely a litmus test of a central bank's financial acumen, it says.
Pianalto on economic forecasts and monetary policy
In the speech 'Economic forecasts and monetary policy' given on 13 February Sandra Pianalto of the Federal Reserve Bank of Cleveland said recent economic reports offer hints that the US economy may have rebounded from the weakness seen in the last three…
ECB paper: A new theory of forecasting
This ECB Working Paper argues that forecast estimators should minimise the loss function in a statistical, rather than deterministic, way.
South African Reserve Bank - Annual Report 2005
According to the South African Reserve Bank's - Annual Report 2005, the 2004/05 financial year saw the balance sheet of the Bank increase by a significant margin, mainly as a result of the accumulation of foreign reserves.
Committee says Gieve fulfils BoE criteria
The UK Treasury select committee said Wednesday that new Bank of England Deputy Governor Sir John Gieve 'fulfils the criteria' for his new position.
EU's Almunia says Slovenia meets euro criteria
EU economic and monetary affairs commissioner Joaquin Almunia has said Slovenia stands alone as the only euro entry candidate that currently qualifies for membership of the single currency.