Central Banking
ECOWAS central bank governors begin Accra meeting
Central bank governors of ECOWAS member countries were due to converge on Accra Wednesday 31 August for the 15th meeting of the Committee of Governors (COG) to deliberate plans to achieve macro-economic convergence criteria for the creation of a single…
Govt close to Bank of Italy reform plan
The parties within the right-wing government led by Prime Minister Silvio Berlusconi are close to a compromise regarding the reform of the Bank of Italy, the daily La Stampa said, without giving a source.
Iran's central bank governor pledges reforms
The inflation rate in Iran will drop to a one digit figure by end of the fourth five-year economic development plan (2005-10), said governor of the Central Bank of Iran Ebrahim Sheibani here on Tuesday 30 August.
Comment: How to account for gold?
Opinions on whether gold is a good investment for central banks vary, but what is beyond dispute is that the different methods of accounting for gold in their balance sheets and income statements is a source of endless confusion.
MAS and IMF seminar on Asian integration
The Monetary Authority of Singapore (MAS) and the International Monetary Fund (IMF) will jointly host a high-level seminar on Asian regional financial integration in Singapore on Saturday 3 September.
Money separates European Central Bank from Fed
According to this article published on Tuesday 30 August, in the old days, bond traders had a singular, stock response to a surge in oil prices and the onset of natural disasters, such as hurricanes: Sell Treasuries.
Challenges for central banks in an enlarged EMU
A new book analyses the challenges that lie in front of the EU as it used to be, the hurdles that have to be cleared by possible candidates, and the impact of these developments on important economic sectors like the financial markets.
ECB Paper on hedge funds and financial stability
The ECB Paper "Hedge funds and their implications for financial stability", published on 26 August, provides an overview of the hedge fund industry, mainly from a financial stability and European angle.
Greenspan on the Fed and the future
In closing remarks to the Jackson Hole symposium given on 27 August, Fed chairman Alan Greenspan said he will miss debates on the conduct of monetary policy with members of the Federal Open Market Committee.
Financial Stability Forum to meet in London
The Financial Stability Forum announced on Tuesday 30 August that it will hold its fourteenth meeting on 8-9 September in London.
PBOC to change currency design
China's central bank said it will adopt a new design for its currency note, the yuan, to reduce counterfeiting of the new edition of notes which will start circulation on Wednesday 31 August.
Report says Fazio ready to accept limited term
Bank of Italy governor Antonio Fazio is ready to accept a reform of the central bank and the introduction of limited tenure for his post, the daily Il Corriere della Sera said, citing sources close to the governor.
Comment: Playing Yuan Politics (31 Aug)
How significant is last month's announcement by the Chinese monetary authorities that it is to drop the dollar peg for the yuan in favour of a basket of currencies?
Experiences of inflation targeting
A new IMF paper examines the experiences of inflation targeting countries and presents a number of "stylised facts" and conclusions for policy makers.
Strong demand for euronotes
The euro has received a good deal of flak recently, but in cash terms it seems people can't get enough of Europe's single currency as the value of euro banknotes in circulation soared past €500 billion in the second quarter of 2005.
What remains of the SGP?
Franz-Christoph Zeitler, a member of the executive board of Deutsche Bundesbank, delivered a speech at the Salzburg seminar, a high-profile meeting place of international leaders, at which raised the question "What remains of the Stability and Growth…
Comment: Summer roundup
For subscribers returning to their offices after the summer break - and for anybody wishing to catch breath before the autumn season - here is a check list of topics that have bubbled to the surface recently and are likely to remain of concern to central…
Rupiah sinks on oil-price rise
The Indonesian rupiah has sunk to its lowest level since January 2002, following a week of rapid depreciation. Burhanuddin Abdullah, governor of Bank Indonesia, vowed to continue to defend the rupiah.
Kenya committee to advise on monetary operations
The Central Bank of Kenya will benefit from expert advice on how to implement monetary policy, following the establishment of a Monetary Policy Advisory Committee on August 24.
Greenspan on the central banker's art
Alan Greenspan attributed the recent increase in asset values to investors' willingness to accept lower compensation for risk, as part of his opening remarks to the annual central bank symposium in Jackson Hole.
The yuan's stable float
Noises and signals continue to emerge from China about reforms to the exchange rate regime, but the central bank still appears to have a firm grip on the value of the yuan.
NY Fed to host credit derivatives powwow
The Federal Reserve Bank of New York is to hold a meeting with major banks to discuss issues in the credit derivatives market in September.
Peru's strong 2004
December 2004 saw Peru celebrate its 42nd consecutive month of economic growth with a "significant improvement in the principal macroeconomic indicators," according to the central bank in its report for the year.
Taiwan's 2004 in review
A combination of economic expansion, rising prices and negative real rates led Taiwan's central bank to shift its monetary policy stance and raise rates in 2004, writes the governor, Fai-nan Perng, in the annual report.