Central Banking
Fed's Greenspan on free markets
In a speech given on 14 December Alan Greenspan of the Federal Reserve said the rise in global living standards despite fears of violence is a testament to the value of free markets in the world.
Krueger on the global consequences of Asian growth
In the speech 'Still achieving, still pursuing: The global consequences of Asian growth' given on 14 December Anne Krueger of the IMF said many Asian economies have long been reaping the benefits of trade liberalization.
Singapore's Tong on riding the Asian tide
In the speech 'Riding the Asian tide' given on 8 November Goh Chok Tong said the rise of China and India will shift the global economic centre of gravity from West to East.
BNM's Aziz on the Malaysian banking industry
In the speech 'Developing a robust competency framework for the Malaysian banking industry' given on 6 December Zeti Akhtar Aziz of the Central Bank of Malaysia said the success in developing a robust industry competency framework requires collaborative…
International Journal of Central Banking, Dec 05
The December 2005 issue of the International Journal of Central Banking was published on Thursday 15 December. The latest edition contains six articles including 'How Should Monetary Policy Respond to Asset-Price Bubbles?,' and 'Inflation Targeting and…
Bell calls Bank of England forecasts 'ambitious'
Former Bank of England Monetary Policy Committee member Marian Bell said in an interview that the central bank's forecasts for economic growth are "ambitious" and that if she was still on the MPC she would consider cutting rates.
LDP calls on BOJ to set nominal growth target
Japan's ruling Liberal Democratic Party said on Thursday 15 December that it wants the Bank of Japan to set a target for nominal economic growth in accordance with the government.
Trichet: ECB must act before inflation develops
European Central Bank president Jean-Claude Trichet said in an interview the ECB must not wait for inflation to develop before taking action against it.
UK's Brown to meet Bernanke on Friday
British Chancellor Gordon Brown will meet the new designated future chairman of the U.S. Federal Reserve, Ben Bernanke, in Washington on Friday 16 December.
Fazio may face ECB probe
The European Central Bank may decide at its council meeting Thursday 15 December to open a formal inquiry into Bank of Italy governor Antonio Fazio's links with former Banca Popolare Italiana CEO Gianpiero Fiorani, said Corriere della Sera in an…
Comment: Brazil's surprise IMF settlement
Earlier this week Brazil announced that it plans to pay off its entire $15.5 billion in debt to the IMF by the end of the month. In doing so, the country will meet its outstanding IMF obligations two years ahead of schedule.
RBA's Stevens on Asia's financial system
In a speech to the 18th Australasian Finance and Banking Conference 2005 given on 14 December Glenn Stevens of the RBA said the development of Asia's financial system had not kept pace with its rapidly accelerating economies.
Accounting, risk management, prudential regulation
The BIS has released the Programme from its "Accounting, risk management and prudential regulation" Workshop held on 11-12 November in Basel.
Bank of Canada Financial System Review, Dec 2005
The Bank of Canada has published its semi-annual December 2005 Financial System Review. In general, the financial health of Canadian financial institutions, households, and non-financial corporations remains robust.
New York Fed's Economic Policy Review, Dec 2005
The Federal Reserve Bank of New York has published the December 2005 edition of its Economic Policy Review. The articles in the latest edition were presented at a conference organised by the Federal Reserve Bank of New York in April 2005, "Urban Dynamics…
Gold is more than a hedge
According to this article published on Monday 12 December, the latest idea to grip the markets is that gold is poised to become the world's fourth major currency.
Brazil announces intention to repay IMF debt
Brazil announced on Tuesday 13 December its intention to make an early repayment of its entire outstanding obligations to the International Monetary Fund amounting to SDR 10.79 billion (about US$15.46 billion).
Fed raises rates, tweaks statement
The Federal Open Market Committee decided on Tuesday 13 December to raise its target for the federal funds rate by 25 basis points to 4-1/4 percent. In its statement the FOMC removed the term 'policy accommondation' but suggested rates could rise further…
Central bankers are not magicians says BoE's King
Bank of England governor Mervyn King said in an interview with a Swedish newspaper published on Wednesday 14 December that central bankers cannot do magic tricks and politicians shouldn't make comments about the monetary policy of independent central…
Germany against gold sale to fill budget holes
Conservatives in German Chancellor Angela Merkel's ruling coalition remain opposed to using central bank gold reserves to fill budget holes, a senior lawmaker was quoted as saying on Wednesday 14 December.
Fazio confident despite banker arrest
Bank of Italy Governor Antonio Fazio said he did not break the law, after Gianpiero Fiorani was arrested for suspected embezzlement, but a leading newspaper on Wednesday 14 December called on Fazio to quit.
St Lucia to introduce single financial regulator
A Single Regulatory Unit (SRU) involving all parties in the financial sector is currently being introduced in St Lucia. The SRU should come into effect during the last quarter of 2006.
Comment: Fed signals end to rate cycle
The Fed this week increased interest rates by 25 basis points for the 13th consecutive time. While the move itself was a foregone conclusion, the removal of the word "accommodative" from the accompanying monetary policy statement, indicates that the…
Word junkies get ready for a fix from the Fed
According to this article published on Monday 12 December, while there is little doubt the Fed will raise the funds rate by another 25 basis points to 4.25 percent on Tuesday, the main issue is the language of the statement.