Opinion/Central Banks
Political pointers
LETTER - Letter published in the London Financial Times on 24 June from Maurice Fitzpatrick.
Is it too early to call an end to deflation?
ARTICLE - Prices have stopped falling and the balance of Bank of Japan banknotes circulating in the market is on a sharp rise. So is it too early to worry about the possibility of inflation asks the Yomiuri Shimbun newspaper on Monday.
A flawed independence
ARTICLE - Treasury interference could stop the Bank of England mitigating the effects of inflationary shocks, says Christopher Huhne in an article in Thursday's London edition of the Financial Times.
Interview - Luxembourg central bank's Yves Mersch
FEATURE - Luxembourg Central Bank governor Yves Mersch said the European Central Bank is awaiting hard evidence of an upturn in the euro zone's manufacturing sector before raising interest rates. In an interview with AFX News he also said the decision of…
Is It Possible to Predict the Future?
ARTICLE - William Poole, president of the St Louis Fed, has given his opinion on economic forecasting in an article called 'Is It Possible to Predict the Future?'
Why the Fed should ignore the stock market
ARTICLE - Opinion from James B. Bullard and Charles M. Hokayem of the Federal Reserve Bank of St. Louis argue the Fed should not react to equity price developments because it would be 'similar to looking in a mirror', saying that such a policy would only…
Polish governor's bodyguards removed
ARTICLE - The relationship between the government and central bank in Poland continues to deteriorate. A full apology from the government is in order over the latest episode, argues an editorial in the Warsaw Business Journal.
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…
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…
Afghan central bank struggles to defend currency
FEATURE - Afghanistan's central bank plans to issue a new bank note and chop three zeros off the volatile afghani in order to bring money supply under its control, the governor of the Bank of Afghanistan said on Tuesday in an interview with Reuters.
Paul O'Neill and pop star argue over aid issue
UGANDA - The Washington Post reports that US Treasury Secretary Paul O'Neill and Irish rock star Bono have apparently fallen out, over the issue of digging wells, during a joint 10-day trip around Africa to investigate the aid issue. O'Neill has…
New £5 coin would make more sense
LETTER - A letter published in the London edition of the Financial Times on 28 May.
Risks await in raising interest rates
FEATURE - If central bankers are 100 per cent sure that interest rates need to start rising, it is probably too late reports Tuesday's Financial Times.
Posh jobs
FEATURE - Former directors of Equitable Life who are being sued for more than £3bn will turn green with envy if they cast an eye over the Bank of England's annual report. In a section on governance and accountability, it makes clear that the Bank's Court…
Two new faces on the Bank of England's MPC
FEATURE - In the auspicious oak panelled surroundings of Committee Room 16 at the Houses of Parliament the newest recruits to the Bank of England's Monetary Policy Committee were put through their paces by the Treasury Select Committee on Wednesday…
Stern sees signs business spending picking up
FEATURE - Federal Reserve Bank of Minneapolis President Gary Stern said on Thursday that business spending was starting to pick up and the U.S. economy is on track for moderate growth this year.
Britons hoard £1bn cash
FEATURE - British households are sitting on an estimated £945m cash pile, according to a new survey - and much of it can be found under sofa cushions.
Facing up to a post-Greenspan future
FEATURE - With every change of personnel at the Federal Reserve comes renewed speculation about what the institution will look like once Alan Greenspan, its revered chairman, finally departs.
Central bank they deserve
LETTER - Letter to the Financial Times published in the US edition 18 May. From Anthony Gould, New Jersey.
Dissenters are becoming dying breed at the Fed
FEATURE - It appears the imposing figure of Alan Greenspan at meetings of the US Federal Reserve is more than enough to persuade other members to keep their mouths shut. Report from Bloomberg news agency, New York.
Policy flaw at heart of the ECB
FEATURE - Keynes eroded the firmly-held idea that there were mysteries about central banking which justified secrecy about how it was meant to work. The process of erosion has taken a long time. This article was written by Professor Sir Alan Peacock in…
Brash makes his first political speech
FEATURE - Prospective National MP Don Brash has made his first political speech since standing down as Reserve Bank of New Zealand governor.
Strong appeal
FEATURE - An emotional day yesterday for Ian Plenderleith - by Bank of England standards at least. The outgoing head of financial market operations has always been taciturn when helping to unveil the inflation report, reports Thursday's Financial Times.