Central Banking
Comment: Risks in housing finance
Personal debt levels in the UK and USA are at record highs, while savings rates have fallen to record lows. As concerns grow over the risks posed to financial stability and economic performance, central banks and regulators are having to consider how…
Central banking and supervisory challenges
The IMF is holding a conference 'Financial Stability - Central banking and supervisory challenges' in Washington on 6-7 September. The conference will address key financial stability issues posing challenges to central bankers and supervisors around the…
Fed after Greenspan will need skillful handler
An article published on Wednesday 31 August asks whether the next Fed chairman can possibly be as skillful as Alan Greenspan has been in using a discretionary approach to monetary policy.
Philadelphia Fed's Santomero on economic outlook
In the speech 'Economic outlook' given on 31 August, Anthony Santomero of the Philadelphia Fed said the effects of Hurricane Katrina will cause economic dislocations in the short-term but will not derail the U.S. economic expansion.
ECB's Trichet on monetary policy
In the speech 'Monetary policy and 'credible alertness'' given on 27 August, Jean-Claude Trichet of the ECB defended the ECB's infrequent intervention in interest rates compared to the US Federal Reserve.
Atlanta Fed paper on credit and identity theft
This working paper from the Atlanta Fed looks at the phenomenon of identity theft. It says that ultimately society may have to find a level of theft that balances its preference for privacy with its tolerance for transaction fraud.
Trichet reports upside risks to inflation outlook
European Central Bank President Jean-Claude Trichet said Thursday 1 September that upside risks to price stability exist but there is no significant evidence of a build-up in underlying inflationary pressures.
Olson says 'too early' to judge impact of Katrina
Federal Reserve Governor Mark Olson told reporters on Wednesday 31 August it was "too early" to make any comment on the impact of Hurricane Katrina on the U.S. economy.
Low rates reflect low inflation says Santomero
The president of the Philadelphia Federal Reserve Bank said on Wednesday 31 August low long-term U.S. yield rates in the Treasuries market that have received so much attention in recent months are partly a reflection of low inflation expectations.
Malaysia introduces deposit insurance scheme
Malaysia introduced deposit insurance on Thursday 1 September, establishing an independent body to insure people against the loss of their bank savings.
Indonesian rupiah fall unlikely to impact Malaysia
The Indonesian rupiah's fall is unlikely to have any impact on the economies of Malaysia or the ASEAN nations, Bank Negara Malaysia governor Zeti Akhtar Aziz said.
Comment: UK's 50-year indexed gilt
The UK will combine two growing trends in sovereign debt issuance when it issues the world's first 50-year index-linked gilt in November.
Papers from 29th Kansas Fed Symposium
Papers presented at the Federal Reserve Bank of Kansas City's 29th annual economic policy symposium, The Greenspan Era: Lessons for the Future, held August 25 - 27 in Jackson Hole, Wyoming, were published on Wednesday 31 August.
FOMC Minutes, 9 August
Minutes from the Federal Reserve's 9 August meeting published on Tuesday 30 August. Most Federal Reserve policymakers expressed concern that inflation risks had "ticked up" recently, with some worrying that price increases were already at the upper end…
Atlanta Fed on the origins of central banking
This Working Paper from the Atlanta Fed outlines a model of the first true central bank, the Bank of Amsterdam, founded in 1609. It describes how it was able to control inflation in seventeenth- and eighteenth-century Netherlands.
Bank of Canada counterfeit deterrence awards
The Bank of Canada has announced the 2005 recipients of its annual Law-Enforcement Award of Excellence for Counterfeit Deterrence.
IMF's Rajan on the Greenspan era
In the speech 'The Greenspan era: Lessons for the future' given on 27 August Raghuram Rajan of the IMF said that financial markets are at present in extremely healthy shape.
Greenspan's legacy - 'Greatest central banker'
This article published Monday looks at a paper presented at the recent conference held by the Kansas Fed in Jackson Hole. Although the paper criticises that "much of the secret of Greenspan's success remains a secret" - according to the article this is…
More ECB dialogue wanted by France
France called for a more "resolute dialogue" between the eurozone's politicians and the European Central Bank on Tuesday 30 August, saying that fiscal and monetary policy must be better co-ordinated if faster economic growth is to be achieved.
ECOWAS central bank governors begin Accra meeting
Central bank governors of ECOWAS member countries were due to converge on Accra Wednesday 31 August for the 15th meeting of the Committee of Governors (COG) to deliberate plans to achieve macro-economic convergence criteria for the creation of a single…
Govt close to Bank of Italy reform plan
The parties within the right-wing government led by Prime Minister Silvio Berlusconi are close to a compromise regarding the reform of the Bank of Italy, the daily La Stampa said, without giving a source.
Iran's central bank governor pledges reforms
The inflation rate in Iran will drop to a one digit figure by end of the fourth five-year economic development plan (2005-10), said governor of the Central Bank of Iran Ebrahim Sheibani here on Tuesday 30 August.
Comment: How to account for gold?
Opinions on whether gold is a good investment for central banks vary, but what is beyond dispute is that the different methods of accounting for gold in their balance sheets and income statements is a source of endless confusion.
MAS and IMF seminar on Asian integration
The Monetary Authority of Singapore (MAS) and the International Monetary Fund (IMF) will jointly host a high-level seminar on Asian regional financial integration in Singapore on Saturday 3 September.