Central Banking
Sweden leaves repo rate unchanged at 2 per cent
At its meeting on 28 April, the Executive Board of the Sveriges Riksbank decided to leave the repo rate unchanged at 2 per cent. Inflation, measured in terms of UND1X, is expected to be in line with the Riksbank's target a couple of years ahead, the bank…
Denmark's Andersen on the global economy
In a speech given on 28 April, Bodil Nyboe Andersen of Danmarks Nationalbank said the global economy is generally in a period of strong growth - at a rate of 5.1 per cent in 2004. However, this may not completely match the picture painted by the media.
Greenspan misses the point about yuan
This article looks at Alan Greenspan's recent comment on China that "They're going to have to, for stability's purposes, move their currency." In theory, Greenspan is right about the central bank "finding some difficulty" in selling debt. However, the…
Interview with Bank Indonesia's deputy governor
In an interview published this week, Bank Indonesia senior deputy governor Miranda Gultom said the central bank is preparing to introduce new money-market instruments to address the alarming sag in the local currency and perceived shortcomings of present…
What has Trichet achieved as the ECB's President?
Jean-Claude Trichet has now been president of the ECB for eighteen months, and if you measure his performance by the narrow mandate of price stability, then he has done his job, this article says. Yet if you were to gauge his performance by a wider…
No plan for imminent yuan reform says PBOC
China has no plans to revalue its currency, the yuan, during next week's Labour Day holiday, a People's Bank of China spokesman was quoted as saying on Friday 29 April, quashing rumours that such a change was imminent.
Report says Fed likely to hike rates again
The U.S. Federal Reserve is likely to raise the target for its key short-term interest rate to 3 percent from 2.75 percent when its rate-setting committee meets on Tuesday, The Wall Street Journal said on Friday 29 April.
Kansas Fed's Hoenig praises entrepreneurs
As much as half the economic growth in the United States has come from entrepreneurial ventures, the president and chief executive officer of the Federal Reserve Bank of Kansas City said on Thursday 28 April.
Bangladesh Bank gets new chief
The Bangladesh government has appointed Salehuddin Ahmed as the new governor of the country's Central Bank, the Zee News website reported on Friday 29 April.
ECB faces criticism from Germany, Italy
The European Central Bank came under fire this week when senior German and Italian politicians called on the eurozone central bank to change its policies to help boost Europe's weak economic growth rate.
Integrated markets should boost growth says Weber
More integration of financial markets should give Europe's long-term growth prospects a much-needed boost, European Central Bank Governing Council member Axel Weber said on Thursday 28 April.
Bofinger named favourite to replace Issing at ECB
German Chancellor Gerhard Schroeder's government hasn't decided yet who will succeed European Central Bank Chief Economist Otmar Issing when he retires next year, government spokesman Bela Anda said Friday, after reports named Peter Bofinger as a…
Fischer to begin at Bank of Israel on Sunday
Stanley Fischer is scheduled to start his new job as the governor of the Bank of Israel on Sunday 1 May.
Ecuadoran congress fires central bank directors
The Central Bank of Ecuador (BCE) was left leaderless on Thursday 28 April after the National Congress dismissed the members of its board, the BBC Monitoring Service reported.
CBN on learning curve
In almost one year of Charles Soludo's appointment as governor of the Central Bank of Nigeria his tenure the CBN is in a learning curve, this article says. This has manifested in three major policies, among them the restructuring of the CBN and the…
Norway's Gjedrem: Business cycles, monetary policy
In a speech 'On business cycles, monetary policy and property markets' given on 26 April, Svein Gjedrem of Norges Bank said the Norwegian economy is growing at a solid pace and there are prospects that growth will remain high.
ECB's Issing on EU and euro zone enlargement
In a speech on 'The enlargement of the EU and the euro zone' given on 27 April Otmar Issing of the ECB said the main question for the new Member States is how to achieve fast catching up to the old Member States.
Philadelphia Fed Business Outlook Survey, Apr 2005
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, April 2005, activity in the region's manufacturing sector continues to expand.
Fed Reserve Bank of St Louis Review, Mar/Apr 2005
The latest edition of the St Louis Fed's Review for March-April 2005 includes an article by Allan Meltzer "Origins of the Great Inflation". The Great Inflation from 1965 to 1984 is the climactic monetary event of the last part of the 20th century. The…
RBNZ leaves rates unchanged at 6.75%
The Reserve Bank of New Zealand left the OCR unchanged at 6.75 per cent on Thursday 28 April. In a statement RBNZ governor Alan Bollard said underlying inflation pressures are persisting, as evidenced by rising business costs and ongoing labour market…
ECB's Trichet calls for debate on company profits
European Central Bank president Jean-Claude Trichet has called for a European debate on the way company profits are distributed.
Fed's Gramlich on federal /state lending standards
Federal Reserve Governor Edward Gramlich said on Wednesday 27 April that creating federal standards to combat predatory lending will not necessarily lead to a safer system for consumers.
Calls for curb on Brazil's central bank autonomy
Severino Cavalcanti, the president of Brazil's lower house of congress, has said he wants to remove the power of the central bank to independently set interest rates.
Fukui says policy may not change with positive CPI
Bank of Japan governor Toshihiko Fukui said Thursday the central bank would not necessarily abandon its ultra-easy credit policy once the core consumer price index stops falling.