Central Banking
Australia grants access to Visa Debit System
Australia's Payment System Board, which makes payment system regulation and is chaired by Ian Macfarlane, the RBA's governor, decided to impose an access regime on the Visa Debit System in Australia.
What's behind real exchange rate moves?
A new working paper from the Bank of England's economic research engine room looks into the reasons for past movements in exchange rates. In contrast to the "benchmark model" in this field, the paper finds an important role for nominal shocks in…
Fears over narrow inflation targets
Wolfgang Munchau criticises overemphasis on inflation targets in a column in the Financial Times. Inflation targets have done good work in bringing down inflation and inflation expectations, he says, but with that battle won, perhaps they are no longer…
Bank of Canada Review, Summer 2005
The Bank of Canada published its Review for Summer 2005 on 18 August. The Review contains three articles including "Estimating the impact of monetary policy surprises on fixed-income markets" and "Recent trends in Canadian defined-benefit pension sector…
Philadelphia Fed Business Outlook Survey, Aug 2005
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, August 2005, activity in the region's manufacturing sector continued to expand in August, at a somewhat faster pace than in July.
Pricking a housing bubble, Australian style
Reserve Bank of Australia governor Ian Macfarlane has declared victory in the fight to deflate one of the world's most obvious housing bubbles, according to this article published on Wednesday 17 August. In fact, he is so confident he has succeeded that…
ECB behind BoE, Fed on clarity; must reveal more
This article published on Thursday 18 August reveals the results of a poll of economists and academics who were asked to compare the ECB with the Bank of England, U.S. Federal Reserve and Bank of Japan for clarity of communication.
Reddy on micro-finance: RBI's approach
In the speech 'Micro-Finance: Reserve Bank's approach' given on 6 August YV Reddy of the RBI said that we, in India, have to focus on extending financial services in both rural and urban areas for ensuring financial inclusion of all segments of the…
Kohn to replace Gramlich on loan guarantee boards
Federal Reserve Board Chairman Alan Greenspan on Wednesday 17 August named Governor Donald L. Kohn to replace Governor Edward M. Gramlich as the Chairman's designee on four federal loan guarantee boards, effective 1 September.
Greenspan's marriage proposal - 'so oblique'
A recent interview with Fed chairman Alan Greenspan's wife revealed a few details on the maestro.
Italy's Fazio to quit, but may take a while
An article published this week says Bank of Italy Governor Antonio Fazio will eventually yield to the relentless pressure on him to resign, but it may not happen for some time. One reform that seems almost sure to emerge from the affair is the…
China's 'visionary' Zhou leads yuan float push
An article published on Wednesday 17 August looks at People's Bank of China governor Zhou Xiaochuan in depth. He was a visionary on yuan reform long before it became a global issue, it says, and moved steadily up the banking and finance hierarchy through…
Argentina's central bank deputy dismissed
Argentine President Nestor Kirchner has removed central bank vice-president Ricardo Branda from office. Branda is under formal investigation for alleged corruption.
Modest pay, one term 'best' for central bankers
A new study says that Europe's central bank chiefs should receive only modest pay and serve just a single term in office to avoid self interest creeping into interest rate decisions. It also found that limited terms and confidential interest rate…
Kidnap! Iraq's central bank manager seized
Gunmen have kidnapped the general manager of the Central Bank of Iraq in front of his home in eastern Baghdad, state-owned television reported.
Robbery! Brazil's central bank loses $68m
How do you lose $68m? The central bank of Brazil is asking itself the same question after thieves tunnelled in to bank and made this massive withdrawal.
China appoints new central bank vice governor
Hu Xiaolian has been appointed vice governor of the People's Bank of China (PBOC) by China's State Council, the cabinet, according to the official Xinhua news agency.
Bank of Canada's speech for 25 August cancelled
A speech that Bank of Canada deputy governor Sheryl Kennedy was due to give in New Brunswick on 25 August has been cancelled, the central bank said on Thursday 19 August.
Govt won't seek Fazio resignation - minister
The Italian government will not seek the resignation of central bank governor, Antonio Fazio, despite pressures for his removal because of his opposition to the takeover of two Italian banks by foreign companies, a minister was reported as saying by a…
Academics discuss East Asian Monetary Union
Academics meeting on Friday 19 August called for Asian nations to set up a regional cooperative body similar to the EU and adopt a common East Asian currency.
Comment: Governments eye foreign reserves
Two dimensions of official sector reserves receive a lot of attention in the press, in policy circles and from market analysts: foreign reserves held by central banks and public pension funds.
Budget misquoted says BoT governor
Bank of Thailand governor Pridiyathorn Devakula confirmed Thursday 18 August that the investment budget of the government's infrastructure development projects remains unchanged at 1.7 trillion baht and admitted that he had seen the wrong investment…
Philippine cb expects more bank consolidation
Philippine central bank governor Amando Tetangco told reporters on Thursday 18 August he expects the banking sector to continue consolidating this year.
Single currency in SADC remains elusive
Dreams of a regional central bank are far from fruition for the countries of the Southern Africa Development Community (SADC), according to this article published Tuesday 16 August.