Central Banks

The euro and the political debate in Europe

Political union is necessary for the success of European monetary union, argues Professor Andre Szasz, so that Eurozone members begin to accept that their neighbour's problems are now their problems. But lack of policy coordination, potentially could…

Interview with Hanna Gronkiewicz-Waltz

The changes to Poland's monetary policy framework in the 1997 National Bank of Poland Act have proved rather difficult to swallow. But now the reforms are bedding down, central bank presidentHanna Gronkiewicz-Waltz can focus on preparing Poland for…

Tumpel-Gugerell praises transition economies

At the opening of the International East-West Conference entitled "Completing Transition: The Main Challenges", the Central Bank of Austria's vice governor Tumpel-Gugerell highlights positive growth of all transition economies

Salameh - new Cabinet takes heat off pound

Lebanon's central bank governor Riad Salameh said that the pressure on the Lebanese pound had eased substantially since the formation of the new government and would continue to do so in the near future.

Iranian vice-president talks about monetary policy

An interview with Dr Mohammad Ali Najafi, vice-president of the Republic of Iran, entitled "Printing bank notes without monetary cover equals the sharp depreciation of the national currency", published by Iranian newspaper 'Hayat-e Now' on 2 November.

Turkish cenbank goes live with real-time DvP SSS

Central Bank of Turkey has gone live with new securities settlement system named ESTS (Electronic Securities Transfer and Settlement System) after three years of development. On October 31, the first day of use, 1,800 securities transactions were settled…

NBP discusses draft payment systems laws

Today the meeting of the National Bank of Poland's payment systems council, a consultative and advisory body of the central bank's management board, discussed draft laws that implement the basic regulations of the European Union in the area of payment…

John Nugee goes to State Street

John Nugee, the head of reserve management at the Bank of England, has moved to State Street. Paul Chilcott is the new chief reserve manager.

The role of payment systems in systemic stability

In May this year there was a high-level payment system workshop held by the BIS' Committee for Payment and Settlement Systems in Mexico. The papers presented at that meeting have now been published.

Yemen cenbank governor counts oil blessings

Robust oil prices have helped boost Yemen's foreign reserves to a recordhigh of $2.5bn. The extra revenues are also speeding up economic reformsand the repayment of the country's debts, central bank governor AhmadAbdul-Rahman al-Samawi said.

SARB gets new power on reserves

The South African parliament has given central bank governor Tito Mboweni anew lever of monetary policy, giving him the right to change the definitionof what type of money commercial banks must hold as reserves.

The Zero Bound in an Open Economy

A very interesting paper by Professor Svensson (Lars.Svensson@iies.su.se) going against the grain oftraditional theories of the cause and solution of Japan's economicdifficulties.

Risk Management in Danmarks Nationalbank

This article by Ib Hansen and Christian Olgaard, in line with the National Bank of Denmark's transparency policy, takes an inside look at the way the bank manages financial market risks.

Monetary and Exchange Rate Policies

Book Review: "Monetary and Exchange Rate Policies, EMU and Central and Eastern Europe" by D. Begg, L. Halpern, C. Wyplosz (Forum Report of the Economic Policy Initiative (EPI)), (Centre for Economic Policy Research (CEPR), 1999) 108pp, £25, ISBN…

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