Central Banking
Venezuela central bank against reserves plan
Venezuela's central bank has again repeated its opposition to President Hugo Chavez's plan to deprive the bank of its autonomy and take $7 billion of international reserves to fund projects and social programs.
Japan denies scrapping yen policy
Japan's Ministry of Finance has taken the unusual step of denying a report on The Times newspaper's website that Japan's campaign to suppress the rise of the yen against the dollar had 'officially' ended.
Canada's Jenkins on Asia and the Global Economy
In a speech on 'Asia and the Global Economy' given on 30 March, Paul Jenkins of the Bank of Canada explores the issues arising from the growing importance of Asian emerging-market economies, notably China and India, in the global economy.
Parry on community development and leaving the Fed
In opening remarks given on 29 March at the Community Reinvestment Conference in Hollywood, California, Robert Parry of the San Francisco Fed discussed why community development is a priority for the Federal Reserve System. Parry also talks about what…
IMF Research Review
The latest round-up of IMF academic publications, featuring papers by Ayhan Kose and Tito Cordella and country studies of Chile and Hong Kong Special Administrative Region.
Zambia's Fundanga speaks to the media
Dr Caleb M.Fundanga speaks on media relations and key economic developments in Zambia during 2003. He asks the press to talk in a constructive way of the positive developments that have taken place in the last year and goes on to list these.
Return and volatility spillovers In Hong Kong
Laurence Fung and Ip-wing Yu discuss the effects of return and volatility spillovers in Hong Kong financial markets.
OeNB's Liebscher: reviving the European economy
Klaus Liebscher gives his view of the euro as a success story and discusses the areas he believes must be addressed to revive the Lisbon Agenda.
New Zealand cb's reserves boosted
The Reserve Bank of New Zealand will receive an extra NZ$1.9 billion (US$1.2 billion) in foreign exchange "for the purpose of stabilising the foreign exchange market in a period of, or to avoid, market dysfunction," Michael Cullen, the finance minister,…
Edwards to replace Carson as IMF statistics head
Anne Krueger, acting managing director of the International Monetary Fund (IMF) since Horst Kohler resigned, is to appoint Rob Edwards, an Australian, to replace Carol Carson as the IMF's head of statistics.
BoE's s Barker: no need to raise rates
A high inflation forecast does not mean the Bank of England has to raise rates, a member of its rate-setting monetary policy committee told a Scottish newspaper, as figures released today showed the UK housing boom continuing apace.
Economy vulnerable to rate rise says Forum
Following a meeting in Rome, chaired by Fed vice chairman Roger Ferguson, the Financial Stability Forum (FSF) issued a generally upbeat assessment of the global economy but highlighted worries about excessive levels of debt and capital flows to emerging…
Federal Reserve to close Columbia branch
The Federal Reserve Bank of Richmond's regional office in Columbia will close in August, it was announced earlier this month.
Foreign investment in emerging market economies
New CGFS publication and press release on the importance of financial sector foreign direct investment in bringing emerging market economies into the global financial system.
FSF: global economy vulnerable to rate rises
Following a meeting in Rome, chaired by Fed vice chairman, Roger Ferguson, the Financial Stability Forum (FSF) issued a generally upbeat assessment of the global economy but highlighted worries about excessive levels of debt and capital flows to emerging…
Interview - Sir Andrew Large
CentralBankNet presents the highlights of Sir Andrew Large's recent interview with The Financial Regulator journal, in which he describes how the Bank of England works to maintain financial stability in the United Kingdom, and comments on the new Basel…
Bank of Canada - Annual Report 2003
The Bank of Canada has published its Annual Report for the year ended 2003. In the Governor's Message David Dodge said the Bank of Canada recognises that adjusting to the stronger Canadian dollar will be one of the most important economic challenges…
Fed's Bernanke on monetary policy modeling
In a speech on 'Monetary Policy Modeling: Where Are We and Where Should We Be Going?' given on 27 March, Ben Bernanke of the Federal Reserve said researchers should aim to provide more realistic models of the economy, improve economic forecasting and…
Philadelphia Fed's Santomero on 21st C banking
In a speech on 'Banking in the 21st Century' given on 27 March, Anthony Santomero of the Federal Reserve Bank of Philadelphia said a new law this year will make it more efficient for banks to process the growing number of electronic payments, even as old…
Norway's Gjedrem on inflation targeting
In a speech on 'Flexible inflation targeting' given on 29 March, Svein Gjedrem of Norges Bank said external cyclical developments and events have had considerable implications for developments in the Norwegian economy.
New Venezuelan law targets central bank reserves
President Hugo Chavez of Venezuela said on Sunday 28 March that his government was drafting a new law to force the country's independent central bank to release international reserves to finance government projects.
Japan says will continue currency intervention
Japan's Ministry of Finance (MOF) said on Monday 29 March that it would continue its foreign exchange intervention, brushing aside a British newspaper report that Tokyo would finish its massive intervention into the currency market.
Bank of England's Nickell sees rapidly rising debt
Bank of England Monetary Policy Committee member Stephen Nickell said on Monday 29 March that most UK borrowers can afford the burden of "rapidly" growing mortgage debt, signalling it may see room for higher interest rates.
Snow tells PBOC governor to scrap peg
U.S. Treasury Secretary John Snow told People's Bank of China Governor Zhou Xiaochuan on Friday 26 March that China needs to scrap its dollar-pegged foreign exchange system and float the yuan.