Central Banking
Argentina sells bonds to Venezuela
Argentina sold $496 million in bonds to Venezuela to help boost its international reserves as it prepares to pay back the $9.8 billion it owes the International Monetary Fund.
China statistician calls yuan reforms 'successful'
China's top statistician Li Deshui said on Tuesday 20 December that China's exchange rate reform is "successful", noting that the policy "should not be changed so frequently."
Comment: Filling Fazio's shoes
Giulio Tremonti, Italy's finance minister, said in an interview on Wednesday that the person who replaces Antonio Fazio as the governor of the Bank of Italy will "capable, honest and respectable". Here is a brief look at the main candidates that are…
A question, Mr. Trichet. Why is dad out of work?
This article published on Monday 19 December looks at the education kit for schools "Price stability: Why is it important for you?" which was recently unveiled by the European Central Bank. It is simply not good enough to repeat the mantra of price…
'The Region' from the Minneapolis Fed, Dec 2005
The Federal Reserve Bank of Minneapolis has published its regular magazine, The Region, for December 2005. The latest edition contains an article "Economic research and the role of the Federal Reserve in payments" by Gary Stern. It also carries an…
Krueger on IMF's role in the modern global economy
In the speech 'At the service of the nations: The role of the IMF in the modern global economy' given on 16 December Anne Krueger of the IMF said the Fund's mandate is as relevant today as it was when the Fund was established more than 60 years ago.
Why I decided to vote against the governor: Bean
In this article published on Sunday 18 December, Bank of England Chief Economist and MPC member Charlie Bean said that he has no regrets about voting against the governor to cut interest rates and says that we may not have to wait until spring for the…
Bank of Japan Monthly Report, December 2005
The Bank of Japan published the English version of its December 2005 monthly report on 20 December. In its report the BOJ said the Japanese economy continues to recover, keeping its view unchanged from the previous month.
Bank of Portugal offloads 10 tonnes of gold
The Bank of Portugal has said it has sold 10 tonnes of gold from its reserves over the past month.
Trichet says ECB 'fully respects' Fazio's decision
The European Central Bank "fully respects" the decision of Bank of Italy governor Antonio Fazio to resign, its president, Jean-Claude Trichet, said in a statement.
Iran's central bank set to open Kyrgyzstan branch
The chairman of the Kyrgyz National Bank, Ulan Sarbanov, has discussed opening a branch of the Central Bank of Iran in Kyrgyzstan.
BCEAU leaders to meet in Niger
Heads of states from the West African Monetary Union are due to hold an extraordinary meeting on 23 December in Niamey, Niger.
Italy agrees central bank reforms
The Italian government approved reforms for the Bank of Italy on Tuesday 20 December, changing the central bank governor's lifetime post to a fixed term.
Adams says China lacks 'consensus' on yuan
The U.S. Treasury's top official for international issues, Tim Adams, said Monday 19 December that China's reticence at allowing a greater role for the market in determining the value of its currency may rest with political leaders who are yet to take a…
Comment: Latin America spurns the Fund
Last week Brazil and Argentina surprised the international community by announcing that they both intend paying off all of their outstanding debt to the IMF before the end of the year.
Fed wraps holiday statement in shade of neutral
According to this recent article, Fed Chairman Alan Greenspan has offered the markets some holiday cheer, hinting at the recent FOMC meeting that the federal funds rate had entered a neutral zone.
ECB's Trichet on European financial integration
In the speech 'European financial integration' given on 16 December Jean-Claude Trichet of the ECB said a lack of integration in eurozone mortgage markets may affect the impact that ECB rate decisions have in different countries.
Bank of England Inflation Attitudes Survey, Nov 05
The Bank of England published its November 2005 Inflation Attitudes Survey on Monday. When asked about the future path of interest rates, 46% expected rates to rise in the next 12 months, compared with 34% in August and 52% in May.
SARB's Quarterly Bulletin, December 2005
The South African Reserve Bank has released its December 2005 Quarterly Bulletin. According to the latest Bulletin, the world economy continued to enjoy robust economic growth in the first three quarters of 2005 and is likely to register real growth of…
Quaden on the National Bank of Belgium
In the speech 'The National Bank of Belgium - a century and a half of Belgian and European history' given on 22 November Guy Quaden of the National Bank of Belgium said it is unusual for modern central banks to be purely central banks.
Garganas says ECB will act on rates if needed
The European Central Bank will raise interest rates in the future if December's hike isn't enough to keep inflation subdued, Bank of Greece governor and ECB Governing Council member Nicholas Garganas said Monday 19 December.
ECBs Papademos calls for action on labour reform
Eurozone countries are at risk of inflation accelerating even as unemployment remains 'disappointingly high' because of labour market inflexibility, European Central Bank vice-president Lucas Papademos said.
Bank of Italy's Fazio resigns
Bank of Italy governor Antonio Fazio resigned on Monday 19 December, just days before reforms were set to be put in place to finally force him out. On Friday CentralBankNet reported that rumours Fazio would quit at the weekend were described as "nonsense…
GCC ratifies FX union criteria
GCC leaders have endorsed criteria for a European-style monetary union in the Gulf region and agreed to forge a common policy on negotiating trade agreements.