Central Banking
China's yuan decision may not change things much
This article published on on Thursday 28 July suggests the enthusiasm which greeted China's recent currency revaluation was sorely misguided. Taken together, the details outlined in the announcement left the future of China's currency as murky as if the…
New York Fed's Economic Policy Review, Aug 2005
The Federal Reserve Bank of New York published the August 2005 edition of its Economic Policy Review on 25 July. The latest Review includes proceedings of the conference "Labor market developments in the United States and Canada since 2000" cosponsored…
SARB appoints new deputy governor
The President of South Africa, Thabo Mbeki, has appointed Dr Renosi Mokate as deputy governor of the South African Reserve Bank for a period of five years, effective from 1 August 2005.
Greenspan may get five more years
A California congressman has said he wants to introduce legislation to give Federal Reserve chairman Alan Greenspan five more years in the job.
Buchholz named as a candidate for Fed seat
Todd Buchholz, an adviser to President Bush during the 2004 presidential campaign, is being considered by the White House for a seat on the Federal Reserve Board, reports said this week quoting sources close to the administration.
PBOC to reveal more details on yuan in next step
The People's Bank of China said on Friday 29 July that it will provide more details of its revaluation of the yuan in the next step, including more information on the basket of currencies for the yuan exchange rate.
Brazil's Meirelles says economy sound
Despite the country's current political crisis, Brazil's economy is supported by solid fundamentals that will maintain growth, central bank president Henrique Meirelles said on Thursday 28 July .
IMF's Rato says no case for sanctions on China
IMF Managing Director Rodrigo Rato said in an interview on Thursday 28 July that there is no case for trade retaliation against China because of its foreign exchange policy.
Bank of Italy - Annual Report 2004
The Bank of Italy has published its Annual Report for the year ended 2004. In Italy the expansion of output has been unsatisfactory, according to the report. Since 2000 the average annual growth rate has been less than 1 per cent.
MAS's Keat on managing risks, fostering innovation
In the speech 'Managing risks, fostering innovation' given on 14 July Heng Swee Keat of the Monetary Authority of Singapore said our aim is to maintain a supervisory framework that is robust and responsive.
'Fazio affair' meeting set for coming week
The Italian government will discuss how to tackle the controversy surrounding Bank of Italy governor Antonio Fazio at a cabinet meeting on 3 August, Italian Prime Minister Silvio Berlusconi said Friday.
China advisor sees second yuan revaluation in 2006
Zhang Shuguang, a former senior fellow at China's Academy of Social Sciences, the government's leading research body, said he expects a second revaluation of the yuan of between 2-3% in 2006 as hot money pressures are likely to force further adjustment.
US Fed meets with Taiwan officials
Officials from the Federal Reserve are in Taiwan to visit the Ministry of Finance, the central bank and the Financial Supervisory Commission to exchange opinions about the government's financial reform and exchange rates, government officials said…
Israel's Fischer on capital market reforms
In the speech 'Capital market reforms in Israel' given on 5 July, Stanley Fischer of the Bank of Israel said the stability of the banking system will not be affected by the separation of the provident funds and mutual funds from the banks.
Albania's Fullani on banking supervision
In the speech 'Cooperation in the field of banking supervision in Albania' given on 11 July, Ardian Fullani of the Bank of Albania said we have established contacts with all the central banks of the region, up to the high levels of representation and I…
Bank of Israel - Annual Report 2004
The Bank of Israel has published its Annual Report for the year ended 2004. In 2004 the long-term strategy of Israel's macroeconomic policy - intended to place the economy firmly on the path towards the realization of its growth potential - moved forward…
RBNZ leaves OCR unchanged at 6.75 per cent
The Reserve Bank of New Zealand left the Official Cash Rate unchanged at 6.75 per cent on Thursday 28 July. Governor Alan Bollard said short-term inflation pressures have recently emerged as a result of surging oil prices.
Systemic risk in alternative payment system design
This European Central Bank Working Paper analyses the consequences of an isolated, sudden and unexpected failure of a bank in alternative interbank payment system designs.
Federal Reserve Board - Beige Book, July 2005
The Federal Reserve published its July 2005 Beige Book survey on 27 July. According to the report the economy continues to expand in almost every area of the country with little or no additional price pressure.
Germany's Clement says ECB rate cut overdue
German Economy Minister Wolfgang Clement has criticised the European Central Bank for failing to give the region's economy a boost by cutting rates at a time when conditions would have been more easily able to cope with relaxation of monetary policy.
BoE's Large fuels rate cut talk
Bank of England policy maker Andrew Large gave an interview on Wednesday 27 July which is likely to fuel expectations that UK interest rates would fall next week for the first time in two years.
Brazil cb and Congress to improve bank controls
Brazil's central bank and lawmakers will seek ways to improve control over the financial system, the bank said in a statement sent by e-mail.
Market to decide yuan's value according to PBOC
The People's Bank of China has insisted that it would allow markets to set the value of the yuan following last week's 2.1 percent adjustment, state media reported Thursday.
Philadelphia Fed Business Outlook Survey, Jul 2005
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, July 2005, activity in the region's manufacturing sector increased modestly.