Central Banking
Philadelphia Fed Business Outlook Survey, Sep 2005
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, September 2005, activity in the region's manufacturing sector slowed in September.
Liebscher says property prices won't influence ECB
European Central Bank Governing Council member and Austrian Central Bank Governor Klaus Liebscher said in an interview that the ECB would not raise interest rates solely as a result of rising real estate prices in some eurozone countries.
South Africa plans no change to inflation target
Treasury Director General Lesetja Kganyago has said South Africa has no plans to modify its inflation targeting framework to aim for the middle of the established three to six per cent target range.
New Bank of Israel law agreed
The Israeli government has agreed to the wording of a new Bank of Israel Law that would transfer responsibility for setting interest rates from the central bank governor alone to a monetary committee.
NY Fed statement on credit derivatives meeting
The Federal Reserve Bank of New York hosted a meeting with representatives of major market participants and their domestic and international supervisors on Thursday 15 September.
What future for central banks?
The London School of Economics is hosting a public lecture on Thursday 24 November. 'What future for central banks?' will be presented by Howard Davies, director of the LSE and chaired by Professor Charles Goodhart.
Mexico's financial regulator needs more autonomy
According to this article published on Monday 19 September, despite impressive progress more must be done if Mexico is to have a credible set of enforceable rules that assure economic stability.
Central Bank of Argentina - a changed view on gold
This article published Monday 19 September says the Central Bank of Argentina has now changed its philosophy and was a purchaser of gold during 2004 as it reshaped its portfolio and may consider taking more in the future along with other Latin American…
ECB's Papademos on the new EU Member States
In a speech given on 19 September Lucas Papademos of the ECB said that the ECB so far sees no sign that costly energy is pushing up wages and prices broadly throughout the eurozone economy.
Comment: Gold stages a comeback
With the gold price hitting 18-year highs, it is about time there was serious re-thinking among central bankers with regards to holding gold as a part of their reserve portfolios.
Monetary policy predictability in the euro area
This Norges Bank Working Paper evaluates the ability of market participants to anticipate monetary policy decisions in the euro area and in 13 other countries.
Policymaking on the FOMC: Transparency, Continuity
This Economic Letter is adapted from remarks by Janet Yellen, President and CEO of the San Francisco Fed, made on 31 May. Yellen says over the past decade, the FOMC has continually re-assessed the costs and benefits of various steps toward greater…
EU calls for single payment area by 2010
Charlie McCreevy, the European Commissioner for the Internal Market and Services said on Tuesday 20 September that banks must create a single pan-EU system for payments by 2010, a demand the European Commission will underpin by legislation.
Jarai says euro target date 'hopeless' for Hungary
Hungary's "macroeconomic developments do not appear to be improving, especially in terms of the public sector", Hungary's central bank Governor Zsigmond Jarai told a press conference on Monday 19 September.
China to attend G7 Washington talks
China has accepted an invitation to a working lunch on Friday in Washington of finance ministers and central bank governors of the Group of Seven major industrialised countries, Vice-Finance Minister Li Yong said on Tuesday 20 September.
BoE's Nickell warns on growth shortfall in UK
The economy faces a 'serious risk' that economic growth will fall short of the Bank of England's forecasts, Stephen Nickell, a member of the central bank's rate-setting body told the Financial Times.
Fed will raise rates and indicate more to come
According to an article published on Monday 19 September, the Federal Reserve's FOMC committee will increase interest rates on Tuesday, with financial markets gradually accepting that the effect of Hurricane Katrina won't deter them.
BoE's Walton on monetary policy challenges
In the speech 'Monetary policy challenges facing a new MPC member' given on 16 September David Walton of the Bank of England said it has been a very interesting, and challenging, time to join the MPC.
ECB's Gonzalez-Paramo on regional divergence
In the speech 'Regional divergence in the euro area' given on 19 September Jose Manuel Gonzalez-Paramo of the ECB said growth and inflation differentials among euro countries are far from being large, whether from a historical perspective or compared…
Central Europe: What's delaying the euro
Momentum in Central Europe to adopt the euro as soon as possible has diminished, this article reports. The big obstacle, it says, is budget deficits.
Albania's Fullani on the Bulgarian National Bank
In the speech 'Experiences of the Bulgarian National Bank in its road towards the ESCB' given on 5 September Ardian Fullani of the Bank of Albania said the Bulgarian economy and the Bulgarian National Bank have been going through substantial reforms in…
Report says IMF to cut US growth outlook
The International Monetary Fund expects the United States economy to grow less than previously expected this year and next, but will upgrade Japan's growth prospects on its upcoming world economic scorecard, German newspapers said over the weekend.
PBOC vows to maintain stable yuan
China's central bank said Monday 19 September it will keep the yuan rate basically stable as it works to improve the exchange rate mechanism introduced at the end of July.
GSE bill vote seen this week
The U.S. House of Representatives may vote on legislation to rein in Fannie Mae and Freddie Mac this week, a key lawmaker has said.