Central Banking
BoE's Barker says uncertainty prevented rate rise
Bank of England Monetary Policy Committee member Kate Barker was reported as saying in an interview that the uncertain short-term outlook for the UK economy prevented the nine-member MPC from raising interest rates in February.
Bank of Korea plans to diversify reserves
South Korea's central bank has said it plans to diversify its reserves, which are the world's fourth largest, into a greater variety of currencies. It's reserves have traditionally been held in U.S. Treasuries and agency debt.
Bank of Japan Monthly Report, February 2005
The Bank of Japan published the English version of its January 2005 monthly report on 21 February. In the report the BoJ said the economy continues to recover, leaving its view unchanged for a third consecutive month.
Sweden's Persson: monetary policy in low inflation
In a speech on 'Monetary policy in a low-inflation economy' given on 18 February, Kristina Persson of the Sveriges Riksbank said international economic activity is expected to continue to strengthen and resource utilisation in the world economy to become…
IMF's Rato on Latin America in the global economy
In a speech on 'Latin America in the global economy - Challenges and opportunities' given on 4 February, Rodrigo de Rato of the International Monetary Fund said global growth should remain robust in 2005 although at a slightly slower pace than a year…
Fazio on outlook for the global economy and Italy
In a speech on 'The outlook for the global economy and Italy' given on 12 February, Antonio Fazio of the Bank of Italy said the ECB has left interest rates at two per cent "given the expectation of inflation returning below 2pc and the still uncertain…
Fed's Pianalto relaxed on US inflation
Cleveland Federal Reserve President Sandra Pianalto said on Monday 21 February that US inflationary pressures remain muted despite a surge in January wholesale prices.
Bundesbank report optimistic on economy
The Bundesbank expressed cautious optimism on the outlook for German growth this year in its February report released on Monday 21 February, despite the surprise contraction in gross domestic product in the final quarter of 2004.
ECB's Wellink: Inflation expectations 'contained'
European Central Bank council member Nout Wellink said in an interview that inflation is under control and does not pose a threat to the eurozone economy.
UAE central bank, Isle of Man sign cooperation MOU
The UAE central bank signed a memorandum of understanding with the Isle of Man Financial Supervision Commission (IOMFSC) on Monday 21 February.
UK, China plan cooperation on global economy
Britain and China agreed on Monday 21 February to work together to address the macroeconomic and structural challenges of the global economy.
ECB's new version of 'General Documentation'
The European Central Bank (ECB) published on Monday 21 February a revised version of the document entitled "The implementation of monetary policy in the euro area: General documentation on Eurosystem monetary policy instruments and procedures" (generally…
Interview with ECB's Papademos
In an interview published this week European Central Bank Vice-President Lucas Papademos told Handelsblatt that whenever possible, central banks should try to prevent the evolution of asset price bubbles. "In principle, prevention is better than cure."
Duisenberg to mediate in Dexia investors dispute
Wim Duisenberg, the European Central Bank's former president, has been appointed to mediate in a long-running dispute between Franco-Belgian bank Dexia, and Dutch investors who are suing it for allegedly mis-selling investment products.
Interview with ECB's Noyer
In an interview published on Wednesday 16 February, ECB governing council member and governor of the Bank of France Christian Noyer said there was no evidence of price pressures in the euro area that would warrant an immediate shift in monetary policy.
Trichet's passion for the French language
Asked in a recent interview if he prefers the language of Shakespeare to that of Moliere, Jean-Claude Trichet, President of the European Central Bank, said that over ten years ago he founded the Club of French-speaking central bankers whose members…
Interview with ECB's Padoa-Schioppa
Speaking in an interview published on Thursday 17 February, Tommaso Padoa-Schioppa of the ECB said channels of communication with Asia, and with China in particular, are open and the ECB itself has close bilateral ties with the Chinese monetary…
Philippines appoints new central bank governor
President Gloria Arroyo announced on Monday 14 February the appointment of 52-year-old deputy governor Amando Tetangco as the new chief of the Philippines central bank, BSP. Tetangco joined the central bank in 1974.
Federal Reserve announces website improvements
The Federal Reserve Board on Thursday 17 February announced improvements to its website to make the statistical releases and historical data easier to use.
First day of Bank of Italy strike
A strike organised by Bank of Italy trade unions on Thursday 17 February saw over 77% of workers taking part, according to AGI. Another day of action is scheduled for next Thursday, 24 February.
Italy's Bini Smaghi to join ECB board
Lorenzo Bini Smaghi, 48, the head of the Italian Finance Ministry's international department looks set to replace a fellow Italian on the board of the European Central Bank after a unanimous decision on Thursday 17 February.
Profile of T&T's new deputy governor
Joan John became deputy governor, Operations, at the Central Bank of Trinidad and Tobago for a period of five years starting 1 February. She recently led the implementation of the Real Time Gross Settlement System and the Government Securities Settlement…
T&T promotes second woman to senior position
The Central Bank of Trinidad and Tobago announced on Wednesday 16 February the appointment of the second woman in two weeks to a leadership position. Wendy Ho Sing assumed her new posting as Deputy Inspector of Financial Institutions.
Mankiw resigns from CEA, clears way for Bernanke
Gregory Mankiw has resigned as chairman of President Bush's Council of Economic Advisers. Federal Reserve Governor Ben Bernanke is a top contender to replace him, an administration official was quoted as saying.