Central Banking
Chicago Fed National Activity Index, Sep 2004
The Chicago Fed National Activity Index was -0.01 in September, off slightly from a downward-revised +0.03 in August. The small decline in the monthly index was primarily due to a slightly larger negative contribution from the employment-related…
IMF pressures China over flexible yuan
The International Monetary Fund has again pressured Beijing to revalue its currency, the Renminbi yuan, China Daily reported on Thursday 21 October.
Brazil raises rates for second month in a row
Brazil's central bank raised interest rates on Wednesday 20 October for the second consecutive month amid concerns about high oil prices and growing domestic demand.
Malaysia set to launch plastic money soon
Malaysia's central bank said on Thursday 21 October that it will launch plastic banknotes next week, joining a growing trend for the more durable 'paper' money.
Greenspan on US mortgage market and consumer debt
In a speech on 'The mortgage market and consumer debt' given on 19 October, Alan Greenspan of the Federal Reserve said conceded there were concerns about "the exceptional run-up in home prices" but said Americans were handling their debts well.
Bank of England MPC Minutes, 6&7 October
The minutes from the 6 and 7 October meeting of the Monetary Policy Committee of the Bank of England were released on 20 October. All nine MPC members voted to keep interest rates unchanged at 4.75 percent this month, while there seemed to be no…
Yuan reform feasible says PBOC adviser
Making the exchange rate of the Chinese currency more flexible was feasible, although it would result in many problems, a top central bank adviser was quoted as saying on Tuesday 19 October.
Fed's Olson sees no housing 'bubble' in US
Federal Reserve Governor Mark Olson said on Tuesday 19 October thatthe United States does not have a house price "bubble" because the national market is too large.
Minister says Poland to meet euro criteria in 2007
Poland will be ready in 2007 to join the euro, Polish Finance Minister Miroslaw Gronicki said on Wednesday 20 October, following a report which said that none of the 10 new EU members yet meet the criteria for adopting the single European currency.
ECB says new EU members deficit cutting 'too slow'
In a report published Wednesday the European Central Bank said countries including the Czech Republic and Hungary, which joined the European Union this year, have been "too slow" in reducing budget deficits and meet requirements to join the euro.
SA's Mboweni on forex market developments
In a speech on 'Developments in the foreign exchange markets during the last couple of years' given on 20 September, Tito Mboweni of the South African Reserve Bank said various factors are in one way or the other responsible for the Rand's general…
BoE's Central Banking courses 2005
The Bank of England's Centre for Central Banking Studies has published a provisional list of Seminars and Workshops to take place in London in 2005.
Asian central banks should follow S Korea's lead
The more Asian central banks try to convince the markets that their judgment on interest rates isn't clouded by political interference, the less anyone believes them, this article says. It suggests policy makers from Jakarta and Manila to Bangkok and…
Fed's Olson says US economy still improving
Federal Reserve Governor Mark Olson said on Monday 18 October that although the US economy was improving it had not maintained the pace it had been expected to. Olson also said rising oil prices have put a damper on the economy's performance, but he did…
Renewed central bank gold sales not disruptive
A report by London metals researcher GFMS suggests that renewed selling of gold by central banks is unlikely to be a major disruptive factor in the market, Business Day reported on Tuesday 19 October.
BOJ's Sept. Monetary Policy Mtg Minutes
The Bank of Japan released the minutes from its 8 and 9 September Monetary Policy meeting on 18 October. The minutes showed that the bank was not greatly worried by a slowdown in export and industrial output growth, seeing it as due to temporary factors…
Netherlands' Wellink on business cycles
In a speech on 'Business cycles and foreign direct investment' given on 23 September, Nout Wellink of the Netherlands Bank and President of the Bank for International Settlements said looking at the current business cycle he is convinced that the worst…
St Louis Fed's Poole on good policy practice
In a speech on 'Safeguarding good policy practice' given on 8 October, William Poole of the Federal Reserve Bank of St. Louis said central bank leadership requires at times a willingness to push hard enough to get the job done, and recognition of how…
Fed's Ferguson on good policy practice
In a speech on 'Safeguarding good policy practice through maintaining flexibility' given on 8 October, Roger Ferguson of the Federal Reserve said he is opposed to the idea of adopting an explicit inflation target as it could limit the ability of the Fed…
Fed debates policy for post-Greenspan era
This article reports that battle lines are drawn at the Federal Reserve between those who favour formal inflation goals and those who don't, with the debate heating up ahead of Alan Greenspan's retirement. It cites Roger Ferguson and Ben Bernanke at the…
Bank of Canada raises interest rates by 0.25%
The Bank of Canada announced on Tuesday 19 October that it is raising its target for the overnight rate by one-quarter of one percentage point to 2 1/2 per cent. The bank said that given the effects of higher oil prices and the past appreciation of the…
MEPs set to discuss ECB performance with Trichet
MEPs are to debate the performance of the European Central Bank with Jean-Claude Trichet on 25 October when they consider a draft report from Alain Lipietz (Greens/EFA, FR) for the Economic and Monetary Affairs Committee.
PBOC's Zhou calls for deposit insurance
China should make the setting up of a bank deposit insurance system a priority to protect savers and help liquidate indebted banks, central bank governor Zhou Xiaochuan was quoted on Monday 18 October as saying.
Who manages the public debt?
Over the last decade, central banks have been the losers as dozens of countries have created powerful standalone financial supervisors. Is debt management going the same way? CentralBankNet reports on another speciality that may be slipping from the…