Central Banking
Unipol considers appeal
The European Commission said it has not yet received a reply from the Italian authorities regarding its legal action against Italy over the involvement of its central bank in the takeover battle for Banca Antonveneta SpA. And Unipol was reported to be…
Serbia's National Bank vice-governor arrested
Serbian police have arrested the vice-governor of Serbia's National Bank, Dejan Simic, on suspicion of taking bribes, Mina news agency reported.
Lull in hostile criticisms from politicians
The New Year seems to have started on an unusually harmonious note as far as relations between central banks and politicians are concerned. With policy interest rates on hold in the UK and euro areas, and perhaps soon to reach a plateau in the US,…
Who is Ben Bernanke?
Of all the things investors can worry about in the new year, the Greenspan void has to be on the list, according to this article published on Monday 9 January. Bernanke faces not only the risk of unsettling the Greenspan bon ami in global markets, it…
Pianalto on childhood education & economic future
In the speech 'Early childhood education and our economic future' given on 10 January Sandra Pianalto of the Federal Reserve Bank of Cleveland said raising education standards will lift U.S. growth, employment and income and ease the fiscal burden of…
IMF's Rajan on global current account imbalances
In the speech 'Financial system reform and global current account imbalances' given on 8 January Raghuram Rajan of the IMF said China is reaching important cross-roads and must speed up financial sector reform.
IMF's Rato welcomes Brazil's economic progress
Rodrigo de Rato, Managing Director of the International Monetary Fund said on Tuesday 10 January that since his last visit in September 2004, the Brazilian economy has continued to make remarkable progress.
Vietnam sets up anti-counterfeit money section
The State Bank of Vietnam (SBV) has set up an anti-counterfeit money section to protect the Vietnamese dong and raise public awareness of how to recognise counterfeit money, said an SBV official.
Bernanke Senate vote expected by 31 Jan
The full US Senate will vote on whether to confirm Ben Bernanke as the next Federal Reserve chairman by the end of January, a spokesman for Senate Majority Leader Bill Frist said on Tuesday 10 January.
Ukraine's reserves more than double in 2005
The gross foreign reserves of the National Bank of Ukraine (NBU) grew 2.04 times in 2005 - from $9.5249 billion to $19.39476 billion.
Analysts sceptical over central bank gold buying
Central banks are unlikely to rush to diversify their reserves into gold in the near future due to the lengthy decision-making process and small size of the bullion market, Reuters said in a report.
Deutsche Bundesbank Monthly Report, November 2005
The Deutsche Bundesbank published the English version of its November 2005 Monthly Report on 20 December. The German central bank said it still expects GDP to grow around 1 pct this year following a faster-than-expected rise in the third-quarter…
St Louis Fed's Regional Economist, January 2006
The Regional Economist, January 2006 edition, from the St Louis Fed includes the article "A lesson in productivity for higher ed". College tuition has increased dramatically over the past decade, yet few think the quality of graduates has kept up…
Latin American monetary policy reform in the 90's
The Central Bank of Chile Working Paper "The 1990's institutional reform of monetary policy in Latin America," published December 2005, takes stock of the institutional reform of monetary policy in Latin America since the early 1990s.
Bank of Italy rejects Unipol bid
The Bank of Italy said on Tuesday 10 January it had rejected insurer Unipol's 5 billion euro ($6 billion) bid for BNL. The move marks the second domestic bank takeover offer to fail following the financial scandal that tarnished Italy's image.
Regulators should not be competition authorities
Does the Bank of Italy's rejection of the takeover bid for Banca Nazionale de Lavoro by Italian insurer Unipol mean that the Italian authorities have stopped protecting the Italian banking system?
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Fed's Fisher: Globalization impact on mon. policy
In the speech 'Coping with globalization's impact on monetary policy' given on 6 January Richard Fisher of the Federal Reserve Bank of Dallas reiterated his vow to keep inflation contained, and offered again his concerns about the budget deficits the…
Fed's Hoenig on the national economy & mon. policy
In the speech 'The national economy and monetary policy in the new year' given on 9 January Thomas Hoenig of the Federal Reserve Bank of Kansas City said the U.S. central bank has pushed interest rates into the lower end of a "neutral" range and where…
Fed's Guynn on strengthening economic foundation
In the speech 'Now is the time to strengthen our economic foundation' given on 9 January Jack Guynn of the Federal Reserve Bank of Atlanta said the U.S. economy was on track for a third consecutive year of good growth in 2006, and it was essential policy…
BIS to host Irving Fisher Committee
The Bank for International Settlements (BIS) announced on Tuesday10 January that it has agreed to provide the Secretariat for the Irving Fisher Committee on Central Bank Statistics with immediate effect.
Europe's central bank must show some backbone
According to this article published on Monday 9 January , political pressure could be responsible for the European Central Bank's 'timid' interest rate move last month.
Federal Reserve needs English elocution lessons
Once Ben Bernanke becomes Federal Reserve chairman after the bank's 31 Jan meeting, suggests this article published on Tuesday 9 January, a top priority should be ending the textual semaphore that's become the central bank's way of not quite…
Tanigaki warns BOJ in ending loose policy
Japanese Finance Minister Sadakazu Tanigaki on Monday 9 January urged the Bank of Japan to be cautious in determining when to end its ultra-loose monetary policy.