News/Governance
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…
Greenspan holds his own
In his recent testimony to Congress, Alan Greenspan has "reached a new low" according to a certain Congressman Sanders. By apparently suggesting that manufacturing doesn't matter, Greenspan had "insulted tens of millions of American workers".
Franco faces new accusations
Oh, this fickle world! Once praised by his compatriots for his hand in hauling Brazil out of the mire in 1997, and even named central banker of the year by Euromoney as a consequence, the tide has turned for Gustavo Franco.
New vice-governor in Belgium
Seasoned politician Luc Coene has been appointed as the new vice-governor of the National Bank of Belgium. He was previously the prime minister Guy Verhofstadt's right hand man, acting among other things as his chief of staff.
An original career change
After a career in central banking, what is there left? A certain feeling of emptiness has been known to haunt ex-central bankers, which some have attempted to relieve by immersing themselves in academic studies, while others have resorted to the soothing…
Finance minister becomes governor in Peru
How will Javier Silva measure up as the new governor of Peru's central bank? Previously the country's finance minister, Silva stepped into the breach to replace Richard Webb after the latter's resignation on account of unworkable disagreements between…
New Serbian governor asserts independence
Did the Serbian government give Mladjan Dinkic the boot because of his questionable running of the central bank? If so, his successor won't last long. Energy minister Kori Udovicki who has been chosen to take his place told the Financial Times, "I will…
Another one for the ladies
CentralBankNet notes that Udovicki's appointment pushes the number of the world's lady central bank governors a little more comfortably into double figures, now numbering a still rather paltry eleven. She joins Bodil Nyboe Andersen as Europe's only other…
Meltzer magic
Allan Meltzer and the dear old Bretton Woods twins haven't always been on the best of terms. As he told Central Banking journal barely a year and a half a go: the world bank's inefficiencies were a "scandal"; in many of its activities it "contributes…
Macfarlane goes for a decade
Ian Macfarlane, the governor of the Reserve Bank of Australia, is buckling down for another term - but not a full one. At the age of 57, it seems that the prospect of another whole seven-year term would have been a bit much, so he put a bid in for a…
BIS increases transparency
Something which has largely escaped people's notice amid the flurry of recent changes at the BIS is that it has now declared the salaries of its senior management. This is consistent with its more general drive for greater transparency, since, as the new…
Straight talking from Zhou
Straight monetarist talk these days is considered controversial in certain circles; and you would not expect to hear it coming from the mouth of the governor of the central bank of China, with all the country's communist traditions. But the "moderniser"…
Quote of the week from Hormats
"Had there been an IMF in the 1850s to insist that the United States create a strong central bank, its advice would have been bitterly resisted by many Americans".
"Upside down world" in Peru
Peru's central bank is in a state of flux. Its governor, Richard Webb, has abruptly resigned, lamenting to CentralBankNet that the central bank is caught up in "an upside down world". Webb's flight was prompted by unworkable differences between himself…
Dinkic goes down fighting
If the situation in Peru seems a little unstable, spare a thought for the devastation visited on Serbia's fledgling central bank. The government's use of a legislative blunderbuss to remove Mladjan Dinkic has triggered a sort of apocalyptic self…
McTeer, the Lonesome Dove
While many have criticised the Fed for being not being dovish enough by only cutting rates by a quarter point, this has not spoiled Bob McTeer's good humour.
Tietmeyer to open doors for Lazard's
Hans Tietmeyer, former president of Germany's Bundesbank, has joined Lazard's as a senior adviser. The appointment gives a boost to Lazard's position in Germany, where the bank has been adding senior staff over the past year.
Mervyn King looks up Sylvia Hotpants
Some people have been tempted to ask, "Do we need a new Bretton Woods"? According to Mervyn King, the answer is clearly "no". Why? Well, there are dangers in them woods. "My mother said, I never should, play with the gypsies in the woods". Especially if…
John Footman in key Bank role
The new Bank of England governor, Mervyn King, has set about selecting his top team and slotting people into jobs.
New Bank team take their bow
Appearing for the first time before the UK Treasury Select Committee in his new capacity as governor of the Bank of England, Mervyn King disarmingly admitted to having "no idea" whether the current level of 3.5% of interests was the correct level. This…
Get ready for Reddy
The coast appears clear for Dr Yaga Venugopal Reddy, deputy governor of the Reserve Bank of India until last year, to assume his well-deserved place as governor. Current governor Bimal Jalan is set to abandon the central bank in August, well before the…
Second term for Mexico's Ortiz
Guillermo Ortiz, the governor of the Bank of Mexico, looks set to push on through to a second term when his current term expires at the end of this year. Ortiz has confirmed that Fox will nominate him to the senate, whose approval will be needed for…