Central Banking
Bank of Japan at the cutting edge
Toshihiko Fukui, Japan's central bank governor, keeps up with the times. He openly admits to entertaining his runaway addiction to the latest in mobile phone technology and is shortly to experience the unbridled pleasure of getting the NTT DoCoMo 505i…
Philippine central bankers to defend integrity
Four senior officials at the central bank in the Philippines, including the governor Rafael Buenaventura and his deputy Alberto Reyes, are getting heat from lawmen, accused of being "administratively liable of gross neglect of duty".
Cricketing King's unlikely heroes
When Mervyn King was the guest of honour last week at the lunch-time chat on BBC Radio 4's cricket programme "Test Match Special", he revealed his affection for - and knowledge of - the game as well as a certain ambition for socialite status. The…
Zimbabwe's central bankers urged to go
Things aren't getting any less desperate in Zimbabwe, which is in the thick of a crippling cash crisis, now that parliament is demanding that the central bank management just leave.
Donald Winn passes away
Fed old-timer Donald Winn sadly died at the age of 66 with pancreatic cancer after faithfully serving the central bank for almost half of his life. With 30 years on the clock, Winn had proved a precious asset to no less than four chairmen, in charge of…
RBNZ buys BIS shares
The Reserve Bank of New Zealand today announced that it had accepted an offer to become a shareholder in the BIS. The cost of the BIS shareholding is approximately NZ$100m (almost US$60m,) which has been raised from the Reserve Bank's balance sheet. In…
European inflation dips below ECB's target
Inflation in the eurozone dipped below 2% for July, according to Eurostat. The figure of 1.9% was down from 2% in June, helped by a 0.2% drop in prices - the largest monthly fall in two years, reports the Financial Times.
Swedish cabinet split over euro decision
The Swedish government, already split over whether to join the euro, was headed for crisis on Tuesday amid reports of an imminent cabinet reshuffle, reports Eubuisiness.com. The national referendum on whether to join the single currency is to be held on…
RBA asset bubbles conference
The Reserve Bank of Australia 2003 conference, 'Asset Prices and Monetary Policy', was held at the H.C. Coombs Centre for Financial Studies, in Sydney on 18 and 19 August 2003. The conference focused on the implications of asset price booms for the…
Balance sheet approach to financial crisis
A IMF note summarises the main conclusions from the working paper "A Balance Sheet Approach to Financial Crisis". It describes the conceptual framework of the balance sheet approach and how it has been reflected in the Fund's work.
Eurozone in your pocket
The ECB launched its latest periodical: "Statistics Pocket Book" on August 15. Updated monthly, the guide offers the latest key economic figures for the eurozone in a handy-size book.
US inflation measures compared
Keeping a close eye on changes in consumer prices is a key aspect of central banks' task to keep inflation low and stable. But measuring the changes and agreeing on the measure is not straightforward. A recent Economic Letter from the San Francisco Fed…
Political support needed for Africa currency union
Africa's central bank governors gathered together to discuss the possibility of forming a regional currency union, but concluded that however desirable and technically feasible it may be, it cannot be done without the support of politicians, reported the…
Balcerowicz urges fiscal reform in Poland
Polish central bank governor Leszek Balcerowicz has urged the government to undertake serious fiscal reform measures, according to Deutsche Presse-Agentur. If Poland is to avoid repeating Argentina's mistakes, there is a simple choice: "Either tolerance…
What is a central bank governor worth?
CentralBankNet's Monday Special reveals the going rate for the job of central bank governor.
Buenaventura wins president's support to appeal
Philippine central bank chief Rafael Buenaventura has won the support of President Gloria Macapagal-Arroyo following a court ruling to suspend him for a year, according to Agence France-Presse. Although Buenaventura should be able to appeal, she does not…
Serbian National Bank loan to boost govt budget
Bozidar Djelic, Serbian finance minister, today announced in an interview with the Belgrade financial daily Pregled that the government will take out a loan with the Serbian National Bank in September to boost the budget reports B92. The announcements…
Zimbabwe limits currency holdings
Zimbabwe has outlawed of individuals holding cash exceeding five million Zimbabwean dollars (US$6,250) in another attempt to halt the cash crisis, reports the Sunday Times in South Africa.
Arminio Fraga hedges his bets
Investors have been scrumming to get a piece of the action as Arminio Fraga, Brazil's ex-central bank governor and former employee of George Soros, is starting his own hedge fund. "It's going well," says Fraga, and great things are expected, according to…
Nigerian cb branded reckless and inefficient
The central bank in Nigeria has been denounced for its "recklessness and managerial inefficiency" by a member of the House of Representatives, which he says explains the sorry state of the banking sector, according to a report in the Daily Champion,…
Indian economy on the mend, says Jalan
Outgoing governor of India's central bank, Bimal Jalan, believes that strong economic fundamentals will clear the way for a higher growth rate and ease the way to full convertibility of the rupee, according to Asia Pulse.
Paper: monetary policy rules with uncertainty
What happens to Taylor rules when uncertainty in the economy increases? A recent paper by Gabriel Srour of the Bank of Canada addresses this question and analyses how the rule changes when uncertainty and time lags increase.
European lawmaker calls for action on euro fakes
Christa Randzio-Plath, chair of the European Parliament's Committee on Economic and Monetary Affairs, has called for an "urgent and concerted" effort to tackle counterfeits euro banknotes. These have included a €300 note.
BIS on cross-border cooperation for Basel II
The Bank for International Settlements today issued a report outlining principles for closer cross-border cooperation between supervisors on the new Basel Accord.