Central Banking
German govt confirms Bundesbank staff cut plan
The German government is considering plans to reduce the size of the Bundesbank's staff with cuts that go beyond a current round of planned reductions, the Finance Ministry said on Saturday 7 January.
Burundi central bank gets new governor
Burundi President Pierre Nkurunziza has appointed economist Gabriel Ntisezerana as the new governor of the Bank of the Republic of Burundi (BRB) instead of Gabriel Toyi, official sources said in Bujumbura.
McCreevy welcomes new Bank of Italy governor
European Internal Market Commissioner Charlie McCreevy Tuesday 10 January welcomed Mario Draghi's appointment as the new governor of the Bank of Italy.
China mulls reserves shift to liquid assets
People's Bank of China officials revealed more on Tuesday 10 January as to how they are likely to manage their foreign-exchange reserves, saying they won't sell off a large amount of existing US dollar holdings but may move some reserves into other…
Wellink says growth pickup may see rates higher
European Central Bank council member Nout Wellink said Monday 9 January a pickup in economic growth raises the chances of further increases in interest rates.
Boston Fed's Minehan on uncertainty
In the speech 'How should monetary policymakers cope with uncertainty?' given on 6 January, Cathy Minehan of the Federal Reserve Bank of Boston said the U.S. has entered a period in which Federal Reserve policy changes are increasingly dependent on…
The costs of increasing transparency
This Working Paper from De Nederlandsche Bank, published January 2006, sets up as an explicit interactive game between the Central Bank, the objectives of which is modelled explicitly, and the private sector. The authors show that in the absence of costs…
Jurgen Stark on the IMF's strategic direction
In an Editorial published on Friday 6 January, Jurgen Stark, currently vice president of the Deutsche Bundesbank, says efforts to strengthen the IMF's surveillance function and the so-called "exceptional access framework" - must now be locked in and…
Fed speeches may send investors in wrong direction
This article published on Saturday 7 January reports on research presented in Boston by Vincent Reinhart, director of the Fed's monetary affairs division, and Brian Sack, a former Fed economist which says Federal Reserve speeches "are the least accurate…
Federal Reserve Bulletin, Autumn 2005
The Federal Reserve published its Bulletin for Autumn 2005 on 5 January. The article 'Recent developments in the credit card market and the financial obligations ratio' says three developments in the credit card market contributed to the rise in the…
Central bankers upbeat on world economy
The global economy is growing at a dynamic pace and may even accelerate in 2006, central bankers from major countries said on Monday 9 January.
IMF's Rato calls for 'market value' yuan
International Monetary Fund Managing Director Rodrigo Rato on Sunday 8 January said China should take full advantage of its decision last year to introduce more flexibility to its currency regime.
Caruana to leave Basel Committee in July
Jaime Caruana said on Monday 9 January he will step down as chairman of the Basel Committee on Banking Supervision when he leaves his post as governor of the Bank of Spain in July this year.
Jean-Pierre Roth to chair BIS Board
The Board of Directors of the Bank for International Settlements (BIS) on Monday 9 January elected as its new Chairman Jean-Pierre Roth, Chairman of the Governing Board of the Swiss National Bank.
Argentina to buy euros to restock reserves
Argentina's central bank will begin buying euros in the foreign exchange market to help bolster its foreign reserves, which were sharply reduced to pay back the country's debt with the IMF, a central bank official said on Sunday 8 January.
Soros expects global economy slow down in 2007
International financier George Soros said in Singapore Monday 9 January that he expects a global recession in 2007 if the U.S. housing market continues to cool after the Fed halts it rate hike campaign.
Gold rises on central bank buying rumours
The gold price had been lent further momentum by investors anticipating central banks would deliver on comments they would buy gold, Bloomberg News reported.
Danmarks Nationalbank, Monetary Review 4th Q 2005
The Danmarks Nationalbank's Monetary Review for the Fourth Quarter 2005 notes that even though oil prices are very high, momentum in the global economy remains robust.
Norges Bank, Economic Bulletin, December 2005
Norges Bank, the central bank of Norway, has published its December 2005 Economic Bulletin. The latest Bulletin includes the article "Norges Bank's role in cash distribution" the major changes Norges Bank has made in its cash operations during the past…
Muto: Price stability, central bank responsibility
In the speech 'Price stability and central banks' responsibility' given on 2 December (published 29 December) Toshiro Muto of the Bank of Japan said he holds a different view from other central bank policymakers who say the bank should end its ultra-easy…
Fed may take pass at Jan. 31 meeting
According to this article published on Thursday 5 January, there's an outside chance the Federal Reserve could pass on raising rates on 31 January following 25-basis-point moves at each of the last 13 meetings. The next move skywards would put the Fed's…
Atlanta Fed names vice president
John Robertson was named vice president at the Federal Reserve Bank of Atlanta on Tuesday 3 January.
IMF's Rato to visit Brazil on January 10-11
Rodrigo de Rato, Managing Director of the International Monetary Fund, will visit Brazil on January 10-11, 2006, at the invitation of the President Luis Inacio Lula da Silva to mark the nation's early repayment of its outstanding obligations to the Fund.
Euro 'War of the words' continues
Latvia has poured oil on the fire in the standoff over the Eurozone common currency spelling (EURO) and supported Malta for sticking to its principles in wanting to use the spelling which is correct according to its national language.