Central Banking
McCreevy favours legal action over Fazio
European Union (EU) internal market commissioner, Charlie McCreevy, said on Tuesday that he favoured legal action against Italy over the way the country's central bank handled two foreign bank takeover bids earlier this year.
EC report on lack of financial sector integration
The European Commission has presented a preliminary analysis of why there has been little cross-border consolidation in the EU financial sector.
Book on Economic Integration in South East Asia
The research department of the Nepal Nastra Bank's international financial division recently published a book on economic integration in South East Asia.
Turkish interest rate cut
The Central Bank of Turkey (CBRT) yesterday, 8 November, cut short-term interest rates by 25 basis points, bringing the overnight borrowing rate and the lending rate to 13.75 percent.
ECB's Weber sees inflation risks
Bundesbank president and ECB governing council member, Axel Weber, told reporters at a news conference on 8 November that risks to price stability have increased in the eurozone in recent weeks, primarily due to a rebound in economic growth, soaring oil…
Comment: The ECB clarifies collateral policy
President Jean-Claude Trichet's clarification yesterday that the ECB would only accept sovereign debt with a rating of A- or higher as collateral for loans to commercial banks, is likely to have policymakers in Italy and Greece and a number of eurozone…
ARB sees "modest" inflation threat
The Australian Reserve Bank said in its monetary policy statement released on Monday 7 November that it expects "a modest" increase in inflation rate and hinted that interest rates would remain on hold this year.
BoK feels the pinch
Bank of Korea (BoK) officials are up in arms about alleged plans by the government to scrap some of the central bank's 16 regional headquarters and cut its payroll.
Brazilian CB reduces number of meetings
The Central Bank of Brazil will lengthen the period between its interest rate policy meetings to 44 days from the current 30 days.
Colombian CB continues to sell reserves
The Colombian central bank sold $114 million in foreign exchange reserves to the government last week.
Euro ministers warn against rate hikes
Finance ministers meeting in Brussels renewed their calls for the European Central Bank to refrain from interest rates hikes.
G10 report on pension reform released
A report on the implications of ageing and pension system reform for financial markets and economic policies, requested by the Group of 10 was released earlier this week.
Georgian battle over CB capital
The National Bank of Georgia (NBG) and the government look set for a stand-off over the bank's capital.
Jordan's interest rates on the move
The Central Bank of Jordan (CBJ) governor, Umayya Touqan, announced on Sunday 6 November that interest rates on repurchase agreements for a week would be raised by 25 basis points.
Comment: Issing - federal deficit not to blame
At a Banque de France symposium on globalisation on Friday, Ottmar Issing of the ECB added his voice to those arguing that the root of global imbalances do not lie with the US budget deficit.
SARB publishes Monetary Policy Review
The South African Reserve Bank (SARB) released its bi-annual Monetary Policy Review yesterday. It expects the main inflation rate to stay inside its 3-6 percent target range over the next two years, although the outlook has deteriorated because of high…
New York Fed's Foreign Exchange Operations Report
According to the Federal Reserve Bank of New York's Treasury and Federal Reserve Foreign Exchange Operations quarterly report for July-September 2005, the U.S. monetary authorities did not intervene in the foreign exchange markets during the quarter.
Fed's Ferguson on monetary credibility & inflation
In the speech 'Monetary credibility, inflation, and economic growth' given on 3 November Roger Ferguson of the Federal Reserve said that central bankers must use "all our tools" to stop inflationary expectations from taking hold in the economy.
Norges Bank Inflation Report, November 2005
Norway's central bank, Norges Bank, has published its latest Inflation Report for November 2005. After a period of very low consumer price inflation, there are prospects that inflation will again rise at a faster pace, the report says.
IMF's Rato on building better institutions
In the speech 'Building better institutions' given on 3 November Rodrigo de Rato of the IMF said central banks in emerging markets that used inflation targeting not only reduced inflation but experienced less volatility.
Interview with PBOC's Tang Xu
In an interview published on Wednesday 2 November, Tang Xu, director-general of the research bureau of the People's Bank of China, said China's economy has already achieved its long-awaited landing even with growth rates around 9 percent.
Swaziland appoints new board member
Finance Minister Majozi Sithole has appointed Swaziland Finance and Development Corporation CEO Vincent Mhlanga to the Central Bank of Swaziland's Board of Directors.
Ireland's Hurley ranked tops for pay
Central Bank of Ireland governor John Hurley was listed as the third-highest paid governor in the twelve-nation eurozone this week, even though he leads the smallest central bank.
Chicago's Moskow on the future of higher education
In a speech given on 2 November Michael Moskow of the Federal Reserve Bank of Chicago said an evolving economy means education, productivity and economic growth are more closely linked than ever at a time U.S. universities are under mounting financial…