Central Banking
BIS Quarterly Review, September 2005
The Bank for International Settlements published its September 2005 Quarterly Review on Monday 5 September. Investors showed mounting anxiety over energy costs in late August, the report said.
Bergo on the Norwegian economy & challenges ahead
In the speech 'The outlook for the Norwegian economy and the challenges ahead' given on 25 August, Jarle Bergo of Norges Bank said the Norwegian economy is in an upturn and is now expanding at a brisk pace.
Sweden's Nyberg on household debt
In a speech given on 25 August Lars Nyberg of the Sveriges Riksbank said developments since the spring indicate that households are continuing to increase their debts at a rapid rate.
Greenspan the 'risk manager'
The recent Jackson Hole conference provided another peek into the mind of a central banker who has kept Wall Street guessing for two decades, this article writes. The essence of Greenspan's approach, it says, is to anticipate and accommodate possible…
BoE's Bean on the business cycle
In a speech given on 26 August Charlie Bean of the Bank of England comments on Bob Hall's article "Separating the Business Cycle from Other Economic Fluctuations".
ECB's Bini Smaghi rejects France's proposal
European Central Bank Executive Board member Lorenzo Bini Smaghi has rejected France's proposal for a dialogue between the ECB and eurozone states regarding economic policies in the region, according to an interview with Handelsblatt.
Fed's Lacker says US can cope with Katrina shock
The US economy can absorb the aftermath of Hurricane Katrina because the Federal Reserve will not repeat the mistake of the 1970s of allowing an energy shock to fuel inflation expectations, Richmond Fed chief Jeffrey Lacker said on Friday 2 September.
Zimbabwe's Gono pleads against IMF expulsion
Zimbabwe's central bank chief called on the IMF not to expel the country on Sunday 4 September and denied using undeclared foreign exchange to pay back part of the IMF debt.
IMF chief sees global growth despite oil prices
Global economic growth will stay above 4% this year, the head of the International Monetary Fund said at the weekend.
Italy's finance minister calls on Fazio to resign
Italian Finance Minister Domenico Siniscalco has asked Bank of Italy governor Antonio Fazio to resign so that credibility can be restored to the institution.
Comment: Oil markets - The need to look deeper
Crude oil futures last week shot above the $70 per barrel in the wake of hurricane Katrina's devastation of the American south coast.
On tap for the next Fed chief: Trouble
The recent three-day gathering of central bankers in Jackson Hole was capped with an extended standing ovation for the Fed chief from the traditionally straitlaced crowd. But the challenges awaiting Alan Greenspan's successor may be far tougher than the…
ADB president assumes office
The 7th elected President of the African Development Bank (ADB) Group, Donald Kaberuka, was sworn in on 1 September, at the Temporary Relocation Agency (ATR) in Tunis.
Interview with Bank Indonesia's deputy governor
Bank Indonesia deputy governor Miranda Gultom said in an interview published on Wednesday 31 August that the central bank will review regulations that may be impeding desperately needed capital inflows at a time when the rupiah has hit record lows…
Socialist Party calls for sacking of NBU chief
Ukraine's Socialist Party, which makes up one of three groups in the government coalition, called for the dismissal of National Bank of Ukraine governor Volodymyr Stelmakh on Tuesday 30 August, saying the strong currency is damaging the economy.
Speculation on nominee to head Iran's central bank
Iran's new President Mahmoud Ahmadinejad is planning to appoint his close confidante Ali Saeedlou as director of the country's central bank, Iran Focus reported this week.
Trichet: 'Fazio is one of us'
ECB president Jean-Claude Trichet said on Thursday 1 September that beleaguered Bank of Italy governor Antonio Fazio remains 'one of us' and rejected suggestions that the Governing Council was divided on the Fazio issue.
Fed Reserve Bank of St Louis Review, Sep/Oct 2005
The latest edition of the St Louis Fed's Review for Sep/Oct 2005 includes an article "Targeting versus instrument rules for monetary policy" which advances arguments that contradict all of the four objections forwarded in Lars Svensson's 2003 paper on…
Chicago's Moskow on the US economic outlook
In the speech 'U.S. economic outlook' given on 24 August Michael Moskow of the Federal Reserve Bank of Chicago said the United States needs higher interest rates to keep inflation down as the job market tightens and energy prices remain high.
BoE's King on UK inflation
In a speech given on 27 August Mervyn King, governor of the Bank of England, said that inflation expectations in the UK may shift significantly even if the cause of the change in prices is due to temporary factors.
Fed's Kohn on financial markets
In a speech given on 27 August Donald Kohn of the Federal Reserve defended the central bank's practice of signalling interest rate moves, saying less-clear statements may hurt the economy.
Oil price rise leads to C-word use in Asia
This article published onb Friday 2 September says that when respected and sober Asian economists start using the word 'crisis' in reference to surging oil prices it's time to take them seriously.
BOJ's Muto sees 'lasting' economic recovery
Japan's economy, the world's second-biggest, is in a ``lasting and self-sustaining'' recovery, Bank of Japan Deputy Governor Toshiro Muto said.
Too soon to judge Katrina impact - Trichet
It is still too early to assess the impact of Hurricane Katrina on European economic growth, European Central Bank President Jean-Claude Trichet said on Friday 2 September, adding he was monitoring the situation carefully.