Central Banking
Eventually, Soludo is the solution
According to this article, Saturday 31 December 2005 marked the triumph of Central Bank of Nigeria governor Prof. Charles Soludo's vision over preponderant pessimism, the haranguing of hired hecklers and the legal ambush of vested interests.
Britain's fiscal rule is more leaden than golden
Lectures to Britain from the European Union on fiscal discipline are hypocritical and pointless, according to this article published on Monday 16 January. However, the UK government's "golden rule" has masked an escalating deficit on state spending that…
BoE's King on the UK economy
In a speech given on 16 January Mervyn King of the Bank of England said the fall in long-term interest rates was one of the three key "signposts" for central banks - the others being the fall in manufactured goods prices and the surge in oil costs.
St Louis Fed's Central Banker, Winter 2005
The St. Louis Fed has published the Winter 2005 edition of its Central Banker magazine. The article "How is the payment business likely to change?" says that while financial institutions and others continue to invent and offer various payment "whiz-bang"…
Draghi joins ECB council,marking changing of guard
A new generation is taking the levers of power at the ECB. This article published on Monday 16 January says the new breed of central banker could bring a heightened pragmatism to ECB decision-making, one less shaped by ideology as the centre of gravity…
Japan's Tanigaki urges caution on deflation call
Japanese Finance Minister Sadakazu Tanigaki on Tuesday 17 January urged the Bank of Japan to be cautious in determining when deflation is over, saying a "cautious assessment" was required.
ECB says forgers favouring 20-euro notes
The European Central Bank has reported the number of forged bank notes traced in 2005 fell 2.5 percent, but the number of 20-euro notes rose sharply in the second half of the year.
Serbian central bank deputy fired
The National Bank of Serbia on Monday 16 January dismissed a deputy governor who was arrested last week for allegedly taking a bribe.
Fed's Guynn sees less clear policy outlook
Atlanta Fed President Jack Guynn on Monday 16 January said the US central bank's interest rate policy outlook is becoming less clear and more tied to the economy.
Draghi: Bank of Italy will affirm its authority
The Bank of Italy's new governor, Mario Draghi, said Tuesday 17 January that the central bank retains its authority and will help shape Europe's monetary policy.
Comment: Botswana's challenge
After decades of expansion, Botswana's central bank now faces a battle to restore economic stability and its own credibility.
RBI plans RTGS cover for 5000 branches
The Reserve Bank of India said it plans to bring another 5,000 bank branches under the Real Time Gross Settlement (RTGS) system mechanism by June 2006.
Sweden's Rosenberg on monetary policy and economy
In the speech 'Monetary policy and the economy' given on 13 January Irma Rosenberg of the Sveriges Riksbank said the Swedish economy is growing stronger than expected in the last Inflation Report published in early December.
Former Fed governors expect change
According to the article "As Bernanke era begins, former Fed governors expect change" published Wednesday 11 January, Ben Bernanke will arrive at the Fed without the clout either of his predecessors carried on Wall Street or in Washington. Only time will…
ECB's Trichet on European financial integration
In the speech 'The process of European financial integration: where do we stand?' given on 13 January Jean-Claude Trichet of the ECB said as regards the further integration of securities (i.e. bonds and equity) markets, a prominent role should be…
Central Bank of Yemen - Annual Report 2004
According to the Central Bank of Yemen's Annual Report 2004, real economic growth strengthened from 3.9% in 2002 to 4.2% in 2003.
Forecasting ECB monetary policy accuracy
The ECB Working Paper 'Forecasting ECB monetary policy accuracy is (still) a matter of geography' uses a database of surveys of professional ECB policy forecasters in 24 countries, the authors find remarkable differences in forecast accuracy, and show…
Is China accumulating too much foreign cash?
According to this article published on Monday 16 January, with China's reserves now approaching the level of Japanese holdings, there are fears that this vast hoard of foreign exchange exposes the country to risks that could undermine future growth.
Serbian governor denies responsibility for deputy
The head of the National Bank of Serbia said on Friday 13 January that he did not feel responsible for the actions of his deputy, who was arrested for allegedly taking bribes.
Mexican reserves will protect in election campaign
Mexico's large currency reserves offer protection against the risk that the peso could be destabilised during the country's presidential campaign, a regional Fed president said Friday.
US's Snow says some dollar reserves shift normal
U.S. Treasury Secretary John Snow said on Friday 13 January some countries' movement of reserves out of dollar-denominated assets would have only a small impact on U.S. markets.
Greenspan set for book deal, after dinner speeches
Soon to retire Fed chairman Alan Greenspan is keen to start work on a book, and will also become a highly sought-after speaker when he leaves the US central bank, reports said on Monday 16 January.
Draghi begins tenure at Bank of Italy
The new governor of the Italian central bank, Mario Draghi, formally took over his new job Monday 16 January, the Bank of Italy said.
China's forex reserves rise to $819 bn
China's foreign exchange reserves grew nearly $50 billion in the last quarter of 2005 to reach $819 billion, making it likely China will exceed Japan's reserves by the end of the year.