Central Banking
Japan upgrades economic assessment
The Japanese government upgraded its view of the economy on Wednesday 15 June for the first time in 11 months, citing recovery in personal spending and the labour market.
RBA's Macfarlane: global influences on the economy
In the speech 'Global influences on the Australian economy' given on 14 June, Ian Macfarlane of the Reserve Bank of Australia downplayed a recent slowdown in Australia's economic growth as a healthy correction that might help prolong the current…
BoE's King on the UK economy
In a speech given on 13 June, Mervyn King of the Bank of England said consumer spending may bounce back after a weak first half and that inflation may accelerate.
Riksbank's workshop on inflation targeting
The Sveriges Riksbank held a workshop titled "Inflation targeting: implementation, communication and effectiveness" between 10-12 June. Papers presented at the workshop included "Central-bank communication and the publication of interest rate projections…
Sweden's Heikensten on inflation targeting
In opening remarks to the Conference on inflation targeting: implementation, communication and effectiveness given on 11 June, Lars Heikensten of the Sveriges Riksbank said the contributions to this conference have succeeded in capturing the most…
Bundesbank's Stark on the IMF in a changing world
In the speech 'The IMF in a changing world' given on 8 June, Jurgen Stark of the Bundesbank said he is convinced that the IMF has done an excellent job so far in helping member countries adapt to a changing economic environment.
Flexible yuan would help world economy says Snow
US Treasury Secretary John Snow said on Tuesday 14 June that the world economy would benefit from a more flexible Chinese yuan exchange rate.
SA fin min says IMF gold sales not an option
South African Finance Minister Trevor Manuel said on Monday 13 June that the sale of gold held by the International Monetary Fund was not an option in funding debt relief for poor developing countries any more.
ADB chief calls for early yuan shift
Asian Development Bank President Haruhiko Kuroda said on Tuesday 14 June that China should shift to a more flexible currency regime at an early date as such a move would benefit China and the rest of the world.
PBOC to guard against inflation
China's central bank's stance will remain focused on preventing major fluctuations in the country's economy and keeping prices "from growing to quickly", the official Financial News reported.
Bof E did not lie over BCCI, says former director
A former head of supervision at the Bank of England rejected allegations on Monday 14 June that the Bank had lied during an inquiry into the collapse of Bank of Credit and Commerce International.
BIS's Knight on insurance and banking worlds
In the speech 'Meeting worlds? Insurance and banking' given on 2 June, Malcolm Knight of the BIS discusses how the worlds of banking and insurance are moving closer together, a process triggered by financial liberalisation and financial innovations.
IMF's Rato welcomes G8 proposal on debt
IMF Managing Director Rodrigo de Rato welcomed the G8 Finance Ministers' Conclusions on Development, the IMF said in a press release on 11 June.
BIS Quarterly Review, June 2005
The Bank for International Settlements published its June 2005 Quarterly Review on Monday 13 June. Corporate bond markets have suffered their worst sell-off since 2002, but overall financing conditions remain favourable, according to the survey.
Bank of Canada Financial System Review, Jun 2005
The Bank of Canada published its semi-annual June 2005 Financial System Review on 9 June. If China's economy were to stall its way into a "hard landing," the biggest hit for Canada would come indirectly through a decline in global commodity prices, the…
Philadelphia's Santomero on the economic outlook
In the speech 'Economic outlook and the role of bank directors' given on 11 June, Anthony Santomero of the Federal Reserve Bank of Philadelphia said he expected US inflation to be well-contained in 2005, allowing the Fed to raise interest rates to a…
G8 pressures Asia to adopt flexible FX
Finance ministers from the G8 rich nations on Saturday 11 June urged emerging Asia to adopt flexible currency policies, but did not mention currencies in their final communique.
Noyer says no European government would leave euro
Banque de France President and European Central Bank governing council member Christian Noyer said in an interview he believes no European government would seriously consider leaving the euro.
ECB's Issing doesn't rule out rate cut
In an interview with German weekly magazine Der Spiegel, ECB chief economist Otmar Issing said he did not think the recent "no" votes in France and the Netherlands were adversely affecting the currency.
Former Dallas Fed head sees two further rate hikes
The Federal Reserve will hike rates by two more quarter-point moves and then stop, according to Robert McTeer, the former president of the Federal Reserve Bank of Dallas.
EU's Almunia says euro to 'stay forever'
EU Economic and Monetary Affairs Commissioner Joaquin Almunia has downplayed concerns over the viability of European Monetary Union, saying that no member is likely to abandon the body.
Bush says replacing Greenspan will be hard
US president Bush said in an interview on Wednesday 8 June that finding a replacement for Federal Reserve chairman Alan Greenspan is going to be a tough job.
Sao Tome names central banker new prime minister
The president of Sao Tome, a tiny African archipelago, named the head of the country's central bank as the new prime minister late on Tuesday 7 June.
Fed-speak a snafu for new Dallas Fed chief
This article looks at what can happen when Federal Reserve officials stray beyond what is known as "Fed-speak". Recent comments by Dallas Fed chief Richard Fisher that the Fed was "clearly in the eighth inning" of a long run of interest rate hikes, with …