Central Banking
Bank of England Financial Stability Review, Jun 05
The Bank of England published its latest Financial Stability Review for June 2005 on Monday 27 June. Near-term risks to the UK financial sector from default by households, firms and overseas borrowers have remained low since the December Review, the…
BoE's Tucker: Where are the risks?
In a speech given on 23 June Paul Tucker of the Bank of England noted that in one form or another risks crystallise every day. He asks whether today's capital markets are well placed to absorb any nasty shocks.
BIS amends Statutes to streamline governance
An Extraordinary General Meeting of the Bank for International Settlements (BIS) on Monday 27 June decided to revise the BIS Statutes.
BIS Annual Report 2004/ 2005
The Bank for International Settlements published its 75th Annual Report for 2004/ 2005 on Monday. Recent economic and financial developments have been broadly consistent with a number of trends in the global economy over the last two decades or so, the…
BIS's Wellink at the 75th Annual General Meeting
In a speech at the 75th Annual General Meeting of the BIS on Monday 27 June, Chairman of the Board of Directors and BIS President Nout Wellink said with world growth at almost 5%, 2004 was the best year in nearly three decades, with emerging market…
Malaysia to maintain low rates despite oil price
Bank Negara Malaysia may keep interest rates low, even though global oil prices continue to remain high, national news agency Bernama reported, quoting the central bank's governor Zeti Akhtar Aziz.
BOJ's Haru says monetary policy may change
Bank of Japan policy board member Hidehiko Haru said in a speech the central bank may see the possibility of ending its quantitative monetary policy easing in the year to March 2007.
Gonzalez Paramo says ECB rates right for now
Current eurozone interest rates are 'adequate' and 'appropriate,' European Central Bank board member Jose Manuel Gonzalez Paramo told La Gaceta de los Negocios in an interview.
ECB's Mersch sees no reason to alter rates
Current European Central Bank interest rates are appropriate, ECB Governing Council member Yves Mersch said in an interview published on Monday 27 June.
Nobel winner says China growth may be understated
Nobel Prize laureate Robert Fogel said he is optimistic about China's sustained economic growth, predicting at least 8% growth for the next 35 years.
Trichet on the ECB - five ideas
In an article published last week European Central Bank president Jean-Claude Trichet said that he is not preparing markets for either a cut or an increase in interest rates.
Iraq's central bank builds credibility
The strength of their currency is one solid economic achievement the Iraqis have to hold on to, according to this article. It attributes this remarkable level of stability to sound government policies - specifically the transformation of the Central Bank…
Philadelphia Fed head receives Italian civic honor
The Consul General of Italy recently presented the prestigious Italian recognition of "Cavaliere," an honorary knighthood, to Anthony Santomero, president of the Federal Reserve Bank of Philadelphia.
Peru's economy minister is IADB candidate
Peru has nominated Economy Minister Pedro Pablo Kuczynski as its candidate to head the Inter-American Development Bank once current head Enrique Iglesias leaves the post in September.
Magistrate says T&T central bank filing 'archaic'
Chief Magistrate Sherman McNicolls said this week he was "really alarmed" by the record filing system at the Central Bank of Trinidad and Tobago, the Trinidad and Tobago Express reported.
Interview with Bank of France's Noyer
In an interview published this week Bank of France governor and European Central Bank council member Christian Noyer said it was "crazy" to think that an interest rate cut in isolation can boost euro zone growth.
Bernanke sworn in as White House adviser
Ben Bernanke was sworn in as chairman of President George W. Bush's Council of Economic Advisers on Tuesday 21 June, leaving his post as a Federal Reserve member.
Key steps to African economic union
In this article South African Reserve Bank governor Tito Mboweni says the challenge is to ensure that SADC countries are ready and committed to implement the macroeconomic convergence programme while they develop the specialised skills and capacity to…
Chicago Fed National Activity Index, May 2005
The Chicago Fed National Activity Index for May 2005 was +0.10, up from +0.05 in April. Two of the four broad categories of indicators that make up the index - production and income and consumption and housing - made positive contributions.
Danmarks Nationalbank appoints new governor
Nils Bernstein, a senior government official, was named the new governor of Denmark's central bank on Wednesday 22 June.
IMF's Dawson announces plans to leave Fund
Thomas Dawson, the director of the International Monetary Fund's External Relations Department, told a press briefing on Thursday 23 June that he intends to leave the Fund in the next six or eight months.
RBI's Reddy says trade gap manageable
Reserve Bank of India governor YV Reddy said on Thursday 23 June that the widening trade deficit is sustainable because it is underpinned by buoyant export of services and remittances from overseas migrant workers.
Import prices no longer falling says BoE's Lambert
Bank of England MPC member Richard Lambert said on Thursday 23 June that there are signs that import prices, which have helped to keep inflation down, are falling.
ECB member says central banks won't sway ECB
ECB Executive Board member Jose Manuel Gonzalez-Paramo said late on Thursday 23 June that although rate cuts are back on the agenda at major central banks, it would not influence the European Central Bank's monetary policy.