Opinion/Central Banks
CentralBankNet Monday Special Feature
SPECIAL FEATURE - In this weeks CentralBankNet Special Feature Andrew Smithers discusses the economic solutions and political obstructions to reviving Japan's stagnant economy.
Secrets of a soon to be missed central banker
Speaking on Tuesday 20 May, UK chancellor Gordon Brown spoke in glowing terms of Sir Edward George, the soon to depart governor of the Bank of England. "I will miss Eddie" he said, and went on to reveal a few central banking secrets, including the case…
Britain misses its euro connection
An article in the Financial Times says that it shouldn't be forgotten that the decision over whether Britain joins the euro is a political rather than an economic one. Both Gordon Brown and Tony Blair, the authors argue, are guilty of dressing the…
EU's pact is a false promise of stability-Stiglitz
In an article in Business day (South Africa), Joseph Stiglitz says the lesson for Europe is clear: the EU should redefine its stability pact in terms of the structural or full employment deficit to what the fiscal deficit would be if the economy were…
How Independent are Arab Central Banks?
An article in the Middle east Financial Network says that one way to measure the independence of a central bank is to consider the period of the governor's term and how often it is renewed. A number of Arab central bank governors and their deputies, it…
Exit economists from NY Fed contest
An article in the Financial Times calls it troubling that the two front runners have pulled out of contention for the job of New York Fed president. This reluctance fits something of a disturbing trend, the article asserts, with all the members of George…
Wanted: An Alan Greenspan for South Korea
In a recent interview South Korean. When asked what he thought the Bank of Korea should do to boost growth, Bloomberg News reports thathe showed his determination to maintain the bank's independence: "I think that issue should be determined by the…
Is Europe already experiencing deflation?
An article in the Financial Times asks whether the threat of deflation is likely and suggests it may already be here and that, given the example of Japan, it may be that nothing can be done about it.
Riksbank on the euro in Swedish financial sector
Manageable risks in the changeover process if Sweden adopts the euro 2006, 14 May. A report published on Wednesday 14 May by the Sveriges Riksbank "The Euro in the Swedish Financial Sector - Progress Report 9" contains a summary and update of financial…
'The central bank that has missed the point'
The ECB's new monetary policy strategy has not impressed Professor Paul De Grauwe. In an article in the Financial Times he calls the moves an anticlimax with the ECB creating confusion instead of clarity. He suggests the eurozone central bank come up…
CentralBankNet Monday Special Feature
SPECIAL FEATURE - The threat of deflation in Europe prompted the European Central Bank to soften its inflation objective and redefine its monetary policy strategy on Thursday. In this weeks CentralBankNet special feature we look at what the ECB has done…
The case for a common Asian currency by 2025
An article in Asahi Shimbun considers the case for a common currency in Asia, saying Asia is a logical candidate to take a leadership role in the reform of global currency markets.
The price Britain faces for delay on euro entry
In an article supporting Britain's entry to the euro, Professor David Begg says that maintaining a 'wait and see' policy on the euro may have a significant price for the UK and the real issue is when not if Britain will join the euro.
Blair's euro ambitions in danger
A article in the Financial Times suggests that Tony Blair's euro ambitions are in danger from the five economic tests and the latitude given to the chancellor of the exchequer by the prime minister.
Interview with Bank of England's Sir Andrew Large
In an interview with the Financial Times, Bank of England deputy governor for Financial Stability Sir Andrew Large raised speculation that the Bank's MPC might reduce interest rates at its meeting next week after flagging up concerns about the weakness…
Bank of England to appoint five new Court members
The Court of the Bank of England is currently interviewing candidates for five non-executive places, notes the Guardian, which describes it as a "shadowy organisation".
UK must not waver in its euro tests
Anarticle in the Financial Times by Martin Wolf says for the UK government to win a referendum on the euro it must persuade the public of the economic benefits and be seen to approach the question with an open mind.
CentralBankNet Monday Special Feature
SPECIAL FEATURE - In this week's Special Feature CentralBankNet presents extracts from an exclusive interview with Professor Manfred Neumann of the University of Bonn. In the interview Professor Neumann spoke to Central Banking journal's Editor Robert…
IMF calls for transparency on inflation
The IMF's chief economist Kenneth Rogoff questions the long-term inflation objectives of the Fed, ECB and Bank of Japan asking why they are so reluctant to speak about the subject in an article in the Financial Times. Would a bit more transparency hurt,…
Decision looming on Iraqi currency
The Iraqi currency has collapsed along with the government. In an article published by Associated Press, Professor Steve Hanke says the currency issue is an urgent one and should be a high priority for Jay Garner and his team of U.S. administrators in…
UK tests for joining the euro
An article in the Financial Times suggests the UK government's assessment of whether the economic tests for membership of the euro have been passed will be important, even though it is widely expected that the tests will not have been passed. The…
Ukraine's Tyhypko sums up 100 days in office
The chairman of the National Bank of Ukraine, Serhiy Tyhypko, has spoken of his first 100 days in office, reports the Zerkalo Nedeliu website, Kiev. He said it was "difficult to give a definitive answer" when asked whether he would be involved in the…
The euro could help Iraq's economic recovery
In an article in the Financial Times Professor Steve Hanke says that to be successful, a currency reform plan in Iraq must be informed by the country's history, well crafted and available fast.