Opinion/Central Banks
Is Japan ready to reflate?
ARTICLE - When the Japanese prime minister says he wants a "deflation fighter" at the Bank of Japan, he may not be referring to monetary policy at all. This article says the Japanese consensus view - one shared by Mr Koizumi and Masaru Hayami, the BoJ's…
Paul Krugman on Alan Greenspan's testimony
ARTICLE - Last week we re-published an article by Paul Krugman, a much respected figure in the world of economics, saying that Alan Greenspan was an apologist for Bush's wayward fiscal policies. Now having heard Greenspan's testimony Professor K puts pen…
Interview with the governor, Malta's central bank
INTERVIEW - In the interview Michael Bonello sheds light on the role of the central bank and comments on the state of Malta's economy. He also discusses the effects eventual EU membership will have on the operation of the central bank.
Interview with RBNZ governor Alan Bollard
INTERVIEW - In the interview Reserve Bank of New Zealand Governor Alan Bollard revealed that the central bank is looking closely at the model it uses for forecasting the economy. "Definitely part of what I need to do is get some confidence about what the…
Monetary Policy Committee or Puzzle Committee?
ARTICLE - Perhaps the Bank of England's Monetary Policy Committee should be re-named the Monetary Puzzle Committee suggests Stephen King in an article. For him the B of E's decision to reduce interest rates last week after Sir Edward George criticised…
CentralBankNet Monday Special Feature
SPECIAL FEATURE - Interest rate setting is abit like gambling with players weighing up the odds and placing their bets. The ECB's announcement last week that it intends to formally recommend a new voting system for its Governing Council will change the…
What role for inflation targeting?
ARTICLE - Former executive director of the Reserve Bank of India, A. Vasudevan, asks whether inflation targeting or multiple objective targeting should be of concern only to central banks. He argues that, generally speaking, monetary policy needs to be…
Inflation-target sentiment seen growing inside Fed
ARTICLE - This article weighs up Federal Reserve policy-makers current positions on the issue of inflation targeting. The board appears split with governors putting the case for and against a target and Chairman Alan Greenspan coming down on the side of…
Some inflation target fans at Fed despite ECB
ARTICLE - This article asks whether some Federal Reserve officials are pushing an idea that gets the European Central Bank nothing but grief? The idea in question is inflation targeting.
Is the Maestro a Hack?
ARTICLE - Paul Krugman, a much respected figure in the world of economics, says he yearns for the return of the "old" Alan Greenspan. Once noted for his stern lectures on disciplined tax policies Greenspan is now, Krugman argues, an apologist for a…
Interview with Afghan central bank chief Ahadi
INTERVIEW - The head of the Afghan Central Bank, Anwar al-Haq Ahadi, has hailed the stability of the afghani since new banknotes were introduced. Speaking in an interview with Iranian radio, Ahadi also said that forgery was a problem, with forged…
Ex-BOJ Matsushima: need broad, combined policy
ARTICLE - Japan will succeed in ridding its economy of deflation only when the government and the Bank of Japan implement a coordinated, broad-based policy, according to an ex-BOJ senior official.
Kikuo Iwata: BOJ needs inflation target
INTERVIEW - The Bank of Japan should set a mild inflation target to defeat deflation, says Kikuo Iwata, a Gakushuin University professor, who believes that unless deflation is stopped, there can be no business revival nor fiscal reform.
CentralBankNet Monday Special Feature
SPECIAL FEATURE - New research carried out by CentralBankNet reveals that if all 10 of the European accession countries are to take up the euro, the Eurosystem will be able to boast some 70,000 central bankers. Published today, 3 February, in the 2003…
Ex Latvian central bank chief shocks with pay rise
ARTICLE - The ex governor of the central bank of Latvia, Einars Repse, now Prime Minister of the eastern European nation, has announced that all ministers are to have their salaries tripled. The move, needed to say, faced little opposition from the…
Eisuke Sakakibara: Why inflation targets wont work
INTERVIEW - Those who advocate inflation targets have not presented any convincing scenarios of how inflation targeting would cause the prices of goods and services to increase. Setting an inflation target without laying out such a scenario would be…
A funny way to manage Europe's money
ARTICLE - This article looks at the potential for enlargement of the eurozone and its impact on the ECB's governing council. The author sees problems ahead saying that today's 18 member council is already too large and proposals for rotational voting…
Who'll take over Poland's Monetary Policy Council?
ARTICLE - An interesting article 'New RPP in 2004: Who is Going to Replace the Hawks?' speculates on who may take over on the National Bank of Poland's Monetary Policy Council when the present members term finishes in 2004.
Bank of Canada seeks candidates for No. 2 post
ARTICLE - Canada's central bank is searching far and wide to replace its outgoing No.2 official, with advertisements in national newspapers and an international magazine for what observers say is a very short list of contenders.
The Fed official who cried 'bubble'
ARTICLE - The article considers the recently released transcript of an FOMC meeting from five years ago. Jerry Jordan warns in the transcript that inflation may not be the main worry for US policy makers in the future. He apparently forewarns, "The…
Interview with Andrew Crockett of the BIS
INTERVIEW - The global financial system is vulnerable to new shocks and officials will have to be on their toes to react should a series of them come together, the outgoing head of the Bank for International Settlements said in an interview Monday.
CentralBankNet Monday Special Feature
SPECIAL FEATURE - Information Technology plays a crucial role in modern central banking. In this weeks special feature CentralBankNet presents an exclusive interview with the Bank of England's Head of Information Technology, Andrew Brookes.
Clearing risks
ARTICLE - Following the publication of the G30 report last week this article describes the report as both wise and practical and it will serve as a road map that the many actors from the private and public sectors can use to reach the common destination…