Central Banking
Coo!
FEATURE - Sushil Wadhwani's tenure as a member of the Bank of England's interest rate setting committee comes to an end on Friday. The Financial Times, in its Observer column on Thursday, couldn't help making one last joke about Wadhwani's dovish…
Ian exits
FEATURE - The FT's Observer writes on Thursday, farewell Ian Plenderleith - sphinx-like to the end. At a Tuesday night retirement bash for the Bank of England director, his boss Eddie George preserved Plenderleith's legendary reputation as a backroom…
ECB Working Paper Series
RESEARCH - The Spanish block of the ESCB-multi-country model, by Alpo Willman and Angel Estrada, May 2002.
Speech by Sirkka Hamalainen of the ECB, 30 May
SPEECH - In a speech titled 'The role of the euro in global capital markets' Hamalainen described the euro as a global currency and said that the aim and goal of the Eurosystem should be to strengthen the integration and economic performance of the EU…
Outgoing MPC member raises bank independence fears
UK - The independence of the Bank of England could be at risk if it continues to undershoot its target for inflation, a member of the Bank's monetary policy committee has warned.
BOJ's Hayami says forex must be watched closely
JAPAN - Bank of Japan Governor Masaru Hayami said on Thursday he wanted to closely watch moves in the foreign exchange market, adding the recent rise in the yen was due to caution on the U.S. economy and hopes for a recovery in Japan.
Loyalty not on RBA cards
FEATURE - Ian Macfarlane and his Reserve Bank appear set on making their proposed changes to the open card schemes, Bankcard, Mastercard and Visa, by the end of the year, regardless of the growing belief the "reforms" will harm the people the central…
Brazil central bank sees '02 inflation over 5 pct
BRAZIL - Brazil's central bank projected inflation this year of "slightly above" 5 percent, according to minutes of its rate-setting meeting last week released Wednesday.
Murray Sherwin favourite in poll for RBNZ governor
NEW ZEALAND - Murray Sherwin, a former Reserve Bank of New Zealand deputy governor, is the best person to take the bank's top job according to a poll of New Zealand based economists conducted by Dow Jones Newswires.
Wadhwani - Inflation forecasts overestimate threat
UK - Reaching for an analogy to explain what the Bank of England's monetary policy committee has got wrong, Sushil Wadhwani turns to the wisdom of one of the cricketing legends: Geoff Boycott in an interview with the Financial Times.
South Asian bankers to discuss clearing issues
SRI LANKA - Amid fears of war between nuclear-armed India and Pakistan, while Sri Lanka struggles for peace, South Asian central bank officials meet this week to improve processes that would boost trade in the region.
Speech by M Moskow, President, Chicago Fed, 10 May
SPEECH - In remarks to the Conference on Bank Structure and Competition Moskow said that at issue is whether banks behave in a manner that tends to accentuate business cycles, and whether bank regulation further augments this volatility.
Speech by Cathy Minehan, Boston Fed Bank, 8 May
SPEECH - In a speech titled 'U.S. Retail Payments: Change, Challenge and Opportunity' Minehan said "the payments system today faces sources of significant change--change in the form of new payments choices by consumers and businesses, driven by the…
Speech by W. McDonough, New York Fed Bank, 14 May
SPEECH - McDonough says in his speech "Improvements in accounting and disclosure practices will help safeguard the proper use of financial derivatives. Transparency not only will provide a healthy incentive for firms to manage their risks prudently but…
Speech by Robert Parry, San Francisco Fed, 14 May
SPEECH - In a speech titled 'After the Recession: A Monetary Policymaker Looks Ahead' Parry predicted higher interest rates at some point, saying the Fed may be "deliberative" as inflation poses no "imminent problem." Excess capacity and rising…
HM Treasury Announcement
ANNOUNCEMENT - Non-Executive appointments to the Court of the Bank of England, 29 May.
Bundesbank Monthly Report
REPORT - Deutsche Bundesbank Monthly Report, April 2002.
ECB Working Paper
RESEARCH - Modelling the daily banknotes in circulation in the context of the liquidity management of the European Central Bank by Alberto Cabrero, Gonzalo Camba-Mendez, Astrid Hirsch and Fernando Nieto, May 2002.
Speech by Shigemitsu Sugisaki of the IMF, 26 May
SPEECH - Making a speech titled 'Achieving Financial Stability: An International Perspective' Sugisaki talked about the efforts that are underway in individual countries and the international community to achieve and maintain financial stability.
Eurozone current account moved to surplus in March
GERMANY - The euro zone had a current account surplus of 3.7 billion euros (3.4 billion dollars) in March, compared with a deficit of 600 million euros a year earlier, data published by the European Central Bank on Wednesday showed.
S Asian central bankers to stay clear of tension
SRI LANKA - Amid fears of war between nuclear-armed India and Pakistan, while Sri Lanka struggles for peace, South Asian central bank officials meet this week to improve processes that would boost trade in the region.
Islamic banking conference hailed a great success
PAKISTAN - Justice Muhammad Taqi Usmani, Chairman, Centre for Islamic Economics, said here on Monday; that the International Conference on Islamic Banking and Finance was a great success and hoped that fullest efforts would be made for the eradication of…
JD1 coin to be replaced by new banknote in Jordan
JORDAN - The Central Bank of Jordan (CBJ) is expected to soon circulate new banknotes, to replace the current round JD1 coins, following numerous cases of counterfeit detected by security and financial authorities, a bank official said on Tuesday.
Japan entering cyclical rebound: BOJ board member
JAPAN - A Bank of Japan Policy Board member said on Wednesday that Japan's economy was starting to recover but the financial sector posed a risk.