Central Banking
Bies on Basel II developments in the US
In the speech 'Basel II developments in the United States' given on 26 September Susan Schmidt Bies of the Federal Reserve said the Fed is still assessing the potential effects of proposed new international banking regulations on U.S. banks and hopes to…
SARB's Quarterly Bulletin, September 2005
The South African Reserve Bank has released its September 2005 Quarterly Bulletin. According to the latest Bulletin, global economic activity lost some of its earlier vigour in the first half of 2005, but still maintained a sturdy and probably more…
Fed's Greenspan on mortgage banking
In the speech 'Mortgage banking' given on 26 September Alan Greenspan of the Federal Reserve said though mortgage debt is rising, most Americans have built up so much equity in their homes that they could weather a price drop without serious harm.
BSP's Tetangco on capital markets
In the speech 'Capital market: A cornerstone of BSP financial reform agenda' given on 23 August Amando Tetangco of the Bangko Sentral ng Pilipinas said the BSP has also been fully supportive of the establishment of the Fixed-Income Exchange (FIE) as an…
Fed must focus on inflation says Hoenig
Kansas City Fed president Thomas Hoenig said on Monday 26 September that the damage to the US economy caused by hurricanes Katrina and Rita can be shaken off and the Fed must focus on keeping inflation at bay to maintain stable growth.
Belgium's Quaden says rates not hampering growth
The Belgian National Bank governor said in an interview that the European Central Bank's interest rates remain appropriate.
Italy considers banking supervision transfer
The Italian parliament will examine the transfer of competition supervision in the banking sector to the antitrust agency from the Bank of Italy, the daily MF said.
PBOC chief repeats gradualist approach on yuan
The head of the People's Bank of China has reiterated, through use of an old saying, that the government will take a gradual and careful approach to exchange rate reform.
BOK report sees China dominant economy by 2040
China will become the world's largest economy in terms of GDP by 2040, and India will closely follow its heels, according to a soon to be released report from the Bank of Korea.
US rebuffs French remarks on Greenspan
US officials have sought to defuse a potentially embarrassing situation after France's Finance Minister, Thierry Breton, told reporters in Washington that Alan Greenspan had admitted America had "lost control" of its budget.
Comment: The IMF ducks challenges
The meeting of the IMF, the World Bank and G7 finance ministers and central bankers have as usual afforded influential international policymakers the opportunity to reflect on the role of these international institutions. Key is the role of the IMF.
Bank of England Quarterly Bulletin, Autumn 2005
The Bank of England released its Quarterly Bulletin Autumn 2005 on Monday. The Bulletin includes the article "Assessing the MPC's fan charts" which says the Bank's use of fan charts has given a 'reasonably good guide' to the risks surrounding the outlook…
Fed's Olson on challenges for the banking industry
In the speech 'Business trends and management challenges for the banking industry' given on 16 September Mark Olson of the Federal Reserve called on U.S. lenders to use care with "non-traditional" types of home mortgages such as interest-only and…
RBA Financial Stability Review, September 2005
The Reserve Bank of Australia published the September 2005 edition of its Financial Stability Review on Monday 26 September. The Australian financial system remains in good shape, according to the latest Review.
NY Fed's Rutledge on bank supervision
In the speech 'Bank supervision and financial center development' given on 1 September William Rutledge of the Federal Reserve Bank of New York said the Federal Reserve's efforts as a supervisor have contributed to the strength and resiliency of our…
BOJ's Fukui on the global economy
In a speech given on 25 September Toshihiko Fukui of the Bank of Japan emphasized the central bank's commitment to eradicating deflation.
Riksbank reallocates gold and for ex reserves
Sweden's Riksbank said it intends to sell up to 10 tonnes of the gold reserve in the period from 27 September 2005 to 26 September 2006.
Communique from G10 ministers and governors
The Finance Ministers and Central Bank Governors of the countries of the Group of Ten met in Washington, D.C. on 25 September.
ECB to give opinion on reforms, Fazio in 1-2 weeks
European Central Bank president Jean-Claude Trichet said in an interview in La Stampa Sunday 25 September that the ECB will give its opinion on Italian government plans to reform the Bank of Italy, and on current governor Antonio Fazio's conduct, within…
Zhou says yuan rate need not reflect trade
China's exchange rate should not reflect its large trade surplus with the United States, People's Bank of China chief Zhou Xiaochuan said in a interview published on Saturday 24 September.
Eurozone rates appropriate says Weber
ECB governing council member Axel Weber said on Sunday 25 September ECB interest rates were appropriate, despite a rise in German consumer prices.
Italy's Fazio loses World Bank role
Italy's government stripped Bank of Italy governor Antonio Fazio of his ability to represent the country at a World Bank meeting. The move came after Italian Prime Minister Silvio Berlusconi called on the ECB to help oust Fazio.
G7 worry over high oil prices
Finance ministers from the G7 richest nations said that sky-high oil prices were a worry and warned fuel costs could hit global economic growth.
Comment: Chinese gradualism
The invitation of China's finance minister and central bank governor to the G7 meeting in Washington this week would have dispelled any suggestion that "yuan politics" would not be a major talking point. But has anything new actually been said? The…