Central Banking
Greenspan, Snow meet lawmakers on China trade
Federal Reserve Chairman Alan Greenspan and US Treasury Secretary John Snow were due to travel to Capitol Hill on Thursday 30 June to discuss the issue of China trade policy with lawmakers.
Armenian central bank law to strengthen dram
A central bank of Armenia law enacted on 28 June on hard currency regulation and hard currency supervision, seeks to strengthen the position and significance of Armenia's national currency, the dram.
Reserve Bank of Australia calls for China float
Reserve Bank of Australia governor Ian Macfarlane has added his voice to international pressure on China to float the yuan, arguing in a speech that it is in China's interest for the currency to rise.
Federal Reserve expected to raise rates again
The Federal Reserve was widely expected to increase US interest rates by a quarter point to 3.25 per cent at the conclusion of its FOMC meeting on Thursday 30 June.
Does world need a universal financial institution?
This Working Paper asks whether the International Monetary Fund is an appropriate model for a world where macroeconomic imbalances, financial crises, and disparities in economic development must compete for attention and resources?
ECB's Trichet on monetary policy in EMU
In the speech 'Monetary policy in EMU - views and challenges' given on 24 June Jean-Claude Trichet of the ECB said slow growth rates in some euro zone countries may reflect poor competitiveness and economic rigidities, rather than the normal divergences…
Kansas Fed's Hoenig on the US economic outlook
In the speech 'The US economic outlook and monetary policy: Under an inflation watch?' given on 16 June Thomas Hoenig of the Federal Reserve Bank of Kansas City said the Fed could slow down its policy action if the economy weakened but speed up if growth…
SARB's Quarterly Bulletin, June 2005
The South African Reserve Bank released its June 2005 Quarterly Bulletin on 23 June. In the Bulletin the SARB said firm increases in economic activity in recent quarters have improved employment prospects materially.
Canada's Dodge on the international monetary order
In the speech 'The international monetary order and the Canadian economy' given on 28 June, David Dodge of the Bank of Canada said that while imbalances in global savings and investment flows are an international problem, policy-makers can help resolve…
ECB's Bini Smaghi says rates at historical lows
European Central Bank board member Lorenzo Bini Smaghi was reported in La Repubblica newspaper as saying that the ECB's interest rates are at historical lows.
Dodge calls for G8 focus on imbalances
Bank of Canada governor David Dodge urged the Group of Eight to focus more on imbalances affecting global prosperity than on Africa and climate change.
EU issues Italy with budget deadline
On Wednesday 29 June the European Union gave Italy until the end of 2007 to cut its budget deficit. It gave the country two years instead of just one to bring the deficit back in line due to weakness in Italy's economy.
Villepin urges ECB dialogue with euro-zone states
French Prime Minister Dominique de Villepin has called for a dialogue between the European Central Bank and the 12 euro zone countries to coordinate economic policies in the region.
Careful consideration needed before yuan move
China should take a gradual approach to currency reforms and consider the economic consequences of a rise in the yuan if it is allowed to move more freely, a state newspaper said on Wednesday 29 June.
ECB's Trichet on international financial system
In the speech 'Reflections on the international financial system' given on 21 June, Jean-Claude Trichet of the ECB said that the widening current account deficit in the United States posed a big threat to global growth.
Dallas Fed's Fisher on trade
In the speech given on 14 June Richard Fisher of the Federal Reserve Bank of Dallas said trade with China is helping raise our productivity and lower our prices.
Danmarks Nationalbank, Monetary Review 2nd Q 2005
The Danmarks Nationalbank's Monetary Review for the Second Quarter 2005 includes articles on: Recent economic and monetary trends, Memorandum of understanding on financial supervision, Capital flows and the exchange rate of the krone, The German labour…
Central bank transparency under model uncertainty
This Federal Reserve Bank of New York Staff Report explores the effects of central bank transparency on the performance of optimal inflation targeting rules.
BIS conference on cb cooperation
The BIS is holding a conference: "Past and future of central bank cooperation", celebrating 75 years of the Bank for International Settlements, 1930 - 2005 in Basel 27-29 June.
Redrado says Argentina needs to reach IMF deal
Argentina's central bank governor Martin Redrado said on Sunday 26 June that it is important for the country to reach a loan accord with the International Monetary Fund to repay debt.
Interest rates to stay 'relatively low' says Zhou
People's Bank of China Governor Zhou Xiaochuan said in an interview the country will keep interest rates "relatively low" to help boost consumer spending and eliminate a trade surplus that has led to tensions with Europe and the US.
Snow says energy prices hurting US economy
Record high oil prices are beginning to take their toll on the U.S. economy, but not enough to halt or reverse the recovery, U.S. Treasury Secretary John Snow said on Tuesday 28 June.
Papademos says rate correct despite oil price high
European Central Bank Vice President Lucas Papademos said eurozone interest rates are "appropriate," even as the price of oil reaches record levels.
Southern Africa could have common central bank
The Common Monetary Area, Southern Africa's 30-year-old monetary union, could have its own central bank within five years, the governor of the Central Bank of Swaziland, Martin Dlamini, told CentralBankNet.