Central Banking
Comment: Intervention tightrope
Central bank officials from three of the world's most important emerging markets this week made comments to the effect that they are intervening in foreign exchange markets and could continue to do so in the future. The reasons they put forward for doing…
Sweden's Nyberg on financing of deposit insurance
In the speech 'Financing of deposit insurance - a central banker's perspective' given on 15 September Lars Nyberg of the Sveriges Riksbank said to the extent that central banks are concerned with financial stability, there is an important reason for the…
'The Region' from the Minneapolis Fed, Sep 2005
The Federal Reserve Bank of Minneapolis has published its regular magazine, The Region, for September 2005. The article "Payments system issues and challenges" asks why the market, not the Fed, is the prime mover in the U.S. payments system. The latest…
IMF rebuffs US Treasury on China - Bravo!
After years of marginalization and soul-searching, the IMF seems to be finding its voice again, according to this article published on Wednesday 5 October. IMF chief Rodrigo de Rato isn't about to do the US's dirty work, by branding China as a currency…
Argentina explains: Why gold?
According to this article published on Tuesday 4 October, suggestions that the Central Bank of Argentina, along with other South American nations, might increase its gold holdings has now become a realistic scenario.
Walk, don't run, to the eurozone
This article asks why the Czech Republic is in such a hurry to join the euro? After all, Britain's GDP is growing significantly faster than overall levels in the eurozone, it says.
Financing conditions in the euro area
According to this Occasional Paper from the ECB, for central banks, the monitoring of financing conditions plays a pivotal role in assessing the actual transmission of monetary policy impulses to borrowers.
Buba's Meister regrets US delay on Basel II
A European Central Bank official responsible for bank oversight, Bundesbank board member Edgar Meister, said on Wednesday 5 October that the delay in implementing parts of Basel II in the US was regrettable.
Forex volatility a concern for RBI
The Reserve Bank of India is concerned about volatility in the rupee's exchange rate, RBI deputy governor Rakesh Mohan said on Wednesday 5 October.
Venezuela transfers $20 bn reserves to BIS
Venezuela has transferred $20 billion worth of its reserves to the Bank for International Settlements in Switzerland, Venezuela's central bank director Domingo Maza Zavala was quoted as saying, confirming comments by President Hugo Chavez last week.
Canada's Dodge says G7 wary of global deflation
The G7 needs to move swiftly to correct global imbalances in savings and investment or face the risk of worldwide deflation within ten years, Bank of Canada governor said on Tuesday 4 October.
Eurosystem currency reserves down
The European Central Bank said net foreign currency reserves in the eurosystem decreased by 0.7 bln eur to 165.4 bln in the week ending 30 September.
Comment: The Old Lady stands her ground
The Bank of England's decision to turn down a settlement offer from the Bank of Credit & Commerce International's (BCCI) liquidator, Deloitte, in the ongoing litigation case related to the BCCI's collapse in 1991, shows how tough the Bank can be when…
St Louis Fed's Regional Economist, October 2005
The Regional Economist, October 2005 edition, from the St Louis Fed includes the article "Gramm-Leach-Bliley turns 5". More than five years have passed since Congress enacted the Gramm-Leach-Bliley Act, tearing down regulatory barriers that separated…
Norges Bank paper on monetary policy, asset prices
A Norges Bank Working Paper investigates whether there is a case for asset prices in interest rates rules within a small econometric model of the Norwegian economy.
Fed wary of inflation, preparing rate increase
According to this article published on Tuesday 4 October, Federal Reserve officials are on track to raise interest rates at their next meeting. Right now they are on the watch for any sign that expectations for future inflation are deteriorating, it says.
Kansas Fed's Hoenig on the global economy
In the speech 'The global economy' given on 15 September Thomas Hoenig of the Federal Reserve Bank of Kansas City said globalisation will probably always have its skeptics and detractors, but the benefits - which are long lasting - outweigh the costs.
Norway's Bergo on the economic outlook
In the speech 'Household saving and the economic outlook' given on 3 October Jarle Bergo of Norges Bank said the existence of the Petroleum Fund may be influencing Norwegians' saving behaviour.
IMF's Rato offers condolences on bombings
International Monetary Fund Managing Director Rodrigo de Rato made a statement on Sunday 1 October expressing his deepest condolences at the terrorist attack in Bali.
Atlanta's Guynn says Fed work not done on rates
Atlanta Federal Reserve President Jack Guynn said in an interview on Monday 3 October that the Federal Reserve's 15-month interest rate hike campaign still has "a way to go" before completion.
Wellink warns against protectionism over China
Dutch central bank President and ECB Governing Council member Nout Wellink said Monday 3 September that European countries shouldn't resort to protectionism as a response to increased competition from China.
BoJ's Haru sees chance to lift super-loose policy
Hidehiko Haru, one of the Bank of Japan's nine policy board members said the BoJ sees the possibility of lifting its four-and-half-year long ultra-loose monetary policy in early 2006, but cautioned that the move would not be rushed.
IMF official calls for BOJ to 'be cautious'
A senior International Monetary Fund official on Monday 3 September urged the Bank of Japan to "be cautious" about ending its quantitative credit easing policy.
Bank of England rejects BCCI settlement offer
The Bank of England said on Tuesday 4 October that it had rejected a recent approach to settle a £1 billion lawsuit involving the collapse of Bank of Credit and Commerce International (BCCI).