Central Banking
BOK holds rates, sees signs of recovery
The central Bank of Korea kept its key interest rate unchanged at a record low 3.25 percent on Tuesday 15 February, citing accelerating inflation amid signs of a much-awaited economic recovery.
ECB official says interest rates may have to rise
Christian Noyer suggested the European Central Bank is moving closer to raising interest rates, the International Herald Tribune reported on Tuesday 15 February.
Russia 'not in a position' to fight strong ruble
The central bank of Russia is "not in a position" to combat the strengthening of the ruble because it may stoke inflation, said Oleg Vyugin, a former first deputy chairman of the Central Bank and now head of the Federal Service for Financial Markets.
Bernanke on inflation in Latin America: A new era?
In the speech 'Inflation in Latin America: A new era?' given on 11 February, Ben Bernanke of the Federal Reserve said he could not gauge the chances for the Fed adopting a numerical target for inflation.
SF Fed's Yellen on the U,S. economic outlook
In a speech on 'The U.S economic outlook' given on 11 February, Janet Yellen of the Federal Reserve Bank of San Francisco said the U.S. economy is on track for sustainable above-trend growth, and with monetary policy still accommodative, interest rates…
SARB's Monetary Policy Committee statement
In a statement released on Thursday 10 February South African Reserve Bank governor Tito Mboweni said that over the longer term there are a number of developments which could also lead to a favourable inflation outcome.
IMF Symposium: Whither development economics?
The International Monetary Fund is holding a Symposium on Wednesday 16 February titled "Whither development economics?" Five leading scholars will elaborate their perspectives on development economics, following which there will be a debate between the…
Zhou on corporate governance & capital markets
In a speech 'Improve corporate governance and develop capital market' given on In the speech 'Improve corporate governance and develop capital market' given 1 December (published 28 Jan), Zhou Xiaochuan of the People's Bank of China said the development…
Papademos: Price stability risk has risen recently
European Central Bank vice president Lucas Papademos has said medium-term risks for price stability in the eurozone have increased recently.
ECB's Wellink: rising real estate prices a concern
ECB Governing Council member Nout Wellink, also Dutch central bank president, said in an interview that rising asset prices in the real estate sector in the US and in some countries in the euro zone are a cause for concern.
Issing praises RBNZ's Bollard
European Central Bank chief economist Otmar issing has singled out New Zealand's Reserve Bank governor, Alan Bollard, for his innovative thinking on asset price bubbles.
Iran, Tajikistan discuss banking cooperation
Representatives from the central banks of Iran and Tajikistan on Friday 11 February discussed possible areas where they could increase banking cooperation.
Korea's banknotes set for new look
Korea's banknotes are to get a radical overhaul to curb rising forgery. The Bank of Korea said Monday 14 February it plans to incorporate high-tech features in the new notes, including holograms.
Greenspan the economic detective
Receiving his honorary degree in Edinburgh on Monday 7 February, Alan Greenspan said that as an economic detective he has long found inspiration in the wisdom of Sir Arthur Conan Doyle's Sherlock Holmes.
ECB board selection process is too restrictive
In a letter published this week, Prof Francesco Giavazzi and Prof Charles Wyplosz said the selection process for ECB board members is seriously inadequate. According to them, members should be chosen solely on their own merits, irrespective of the…
Letters reveal 'low point' for Sir Eddie
Letters released this week by the UK Treasury showed that Gordon Brown's decision to remove responsibility for banking supervision from the Bank of England almost prompted Sir Edward George, the Bank's governor to resign.
New York Fed's Geithner on the US economy
In a speech given on 9 February Timothy Geithner of the Federal Reserve Bank of New York said growing imbalances hang over the world economy maintaining low inflation is "vital" to ensure policy makers have the tools to handle potential shocks.
FATF welcomes China as an observer
The Financial Action Task Force (FATF), meeting in Paris from 9 to 11 February 2005, has welcomed for the first time the People's Republic of China to attend its Plenary meeting as an observer.
Sweden's Nyberg on household debt burden
Speaking at a breakfast meeting in Malmo on Friday 11 February Sveriges Riksbank Deputy Governor Lars Nyberg said households currently have on average debts amounting to 125 per cent of their annual income, which is almost as much as the figure…
BoE cancels 2005 governors' symposium
The Bank of England has cancelled its 2005 governors' symposium due to the UK's overcrowded international schedule. Mario Blejer, head of the Bank's centre for Central Banking Studies, wrote to central bank governors recently to tell them the news.
Minutes from the Sveriges Riksbank Meeting, 27 Jan
Minutes from the Sveriges Riksbank Executive Board meeting on 27 January revealed that the forecast for growth in Sweden and abroad over the coming years remained largely unchanged and inflation was expected to increase during the course of 2006.
Bank of England's Chief Cashier John Page dies
John Page, who was the last person to hold the post of Chief Casher of the Bank of England before the position was downgraded in the 1980s, died on 2 February aged 81.
Czech president appoints new CNB board members
The President of the Czech Republic, Vaclav Klaus, at Prague Castle on Friday 11 February appointed three new members to the Bank Board of the Czech National Bank. He also said Zdenik Tma will remain CNB Governor for a further six-year term.
Inflation targeting comes under fire
The theory of central bank inflation targeting has been ripped up by Harvard economist Benjamin Friedman. Speaking at the Reserve Bank of India he said inflation targeting hides other goals and impedes transparency.