Central Banking
PBOC adviser backs yuan rate policy
A Chinese central bank adviser has said that monetary policy should stay stable in the near future and that China's economic growth and inflation were optimally matched, the Financial News said on Tuesday 5 July .
Romania's Isarescu says inflation to reach 7.5%
The governor of Romania's central bank Mugur Isarescu said on TV that inflation might reach 7.5 per cent this year, instead of the 6per cent that was expected initially, but he assured his audience that inflation will continue to fall.
IMF's Rato says no need for ECB rate cut yet
International Monetary Fund managing director Rodrigo Rato said in an interview that there is no reason for the European Central Bank to cut interest rates at the moment, but it should do so if euro zone growth weakens any further.
Paper: MPC inflation targeting and decision making
This paper published June 2005 considers decision making in the Bank of England's MPC. It finds there are identifiable forms of heterogeneity among members of the committee that improves the predictability of interest rate changes.
Noyer on the establishment of the SEPA
In a speech given on 23 June, Christian Noyer of the Banque de France stressed that it is essential that the efforts put together by the banking industry since 2002 bear their fruit so that the SEPA becomes a tangible reality shortly.
Fed's Olson on US mortgage products
In the speech 'Revisiting traditional paths to ownership' given on 23 June, Mark Olson of the Federal Reserve said an explosion in mortgage products that lowers payments in the early years of a loan has helped to extend U.S. home ownership, but carries…
Fed Reserve Bank of St Louis Review, Jul/Aug 2005
The latest edition of the St Louis Fed's Review for Jul/Aug 2005 includes the proceedings from the 29th economic policy conference of the Federal Reserve Bank of St. Louis, "Productivity, labor, and the Business Cycle."
SARB Bank Supervision Annual Report 2004
The South African Reserve Bank published its Bank Supervision Department Annual Report 2004 on 28 June. During 2004, the South African banking system remained stable and, in general, banks were sound, the report said.
PBOC facing difficulty in setting policy-report
The People's Bank of China has said it is facing more difficulty in setting monetary policy because of the fast-changing domestic and international environment, the official Financial News reported.
Russia ranked world's fifth in reserves
Russia ranks the world's fifth in terms of its international reserve assets (for gold and foreign exchange reserves), Prime Tass economic news agency reported on Friday 1 July.
Philippines joins anti-money-laundering network
The Philippines' Anti-Money Laundering Council (AMLC) has been admitted as a member of the Egmont Group, a global network of financial intelligence units that tackles money-laundering, the central bank said.
ECB's Liebscher says slowdown 'temporary'
European Central Bank council member Klaus Liebscher has called a slowdown in the region's economy a "temporary phase of weakness" and said rising exports and a declining euro will help revive growth by the end of 2005.
New Philippine central bank governor sworn in
Philippine president Gloria Macapagal-Arroyo on Monday 4 July swore into office Amado Tetangco Jr. as the new chief of the central bank.
ECB reorganises human resources
The European Central Bank announced on Tuesday 28 June that it would merge the Directorate Human Resources and the Directorate Planning and Controlling into a new Directorate.
Interview with ECB's Bini Smaghi
In an interview published this week European Central Bank Executive Board member Lorenzo Bini Smaghi said blaming the euro is like blaming the thermometer when you are ill. Proof that the euro is not the cause of the crisis is provided by the fact that…
Interview with ECB's Gonzalez-Paramo
In an interview published this week European Central Bank Executive Board member Jose Manuel Gonzalez-Paramo said the price of oil is the main risk weighing on the recovery. But the persistence of global imbalances is also a threat.
RBI names Rakesh Mohan as deputy governor
The Economic Affairs Secretary, Rakesh Mohan, has been appointed as a Deputy Governor of the Reserve Bank of India and is likely to be in charge of the monetary policy department, an official was quoted as saying on Wednesday 29 June.
Interview with RBI's Reddy
In an interview published this week Reserve Bank of India governor Yaga Venugopal Reddy said there are continued uncertainties and fuel prices would be one of the topics for discussion at the RBI's next policy meeting in late July.
Federal Reserve raises interest rates to 3.25%
The Federal Open Market Committee decided to raise its target for the federal funds rate by 25 basis points to 3-1/4 percent on Thursday 30 June. In its statement the FOMC maintained its "measured" stance and said that although energy prices have risen…
Sveriges Riksbank Economic Review 2nd Quarter 2005
The Sveriges Riksbank has published its Economic Review for the 2nd Quarter 2005. This year's second issue contains four articles: Thoughts on how to develop the Riksbank's monetary policy work; Basel II - the new framework for bank capital; Monetary…
Reserve Bank of New Zealand Bulletin, Jun 2005
The Reserve Bank of New Zealand has published the June 2005 issue of its Bulletin. The first article of the Bulletin discusses the outcome of the recent review of New Zealand's 'silver' coinage, which will see the move to smaller and lighter 10, 20 and…
BOJ's Muto on the outlook for Japan's economy
In the speech 'The outlook for Japan's economy' given on 23 June, Toshiro Muto of the Bank of Japan said the central bank may see the possibility of ending a quantitative monetary policy easing in the year to March 2007, if things go smoothly.
ECB's Gonzalez-Paramo on monetary policy
In the speech 'The European Central Bank's monetary policy in an international context: principles and challenges' given on 23 June, Jose Manuel Gonzalez-Paramo of the ECB said there is no doubt in his mind that a monetary policy strategy based on a…
Interview with BSP's Tetangco
In an interview published on Friday July 1, Amando Tetangco, who takes over formally as governor of the Philippines central bank on Monday, said his move into the governor's seat won't result in major policy changes "because it's basically a continuation…