Economics

Thailand acting to stem baht increase

Thai central bank governor Pridiyathorn Devakula said Wednesday 9 August the central bank has been acting to halt the baht's rise to prevent excessive strength in the currency from hurting exporters.

Is King readying his pen reluctantly or eagerly?

The UK press has jumped on the admission by Mervyn King that he might soon have to write a letter to the chancellor if inflation climbs above the 3% limit, but such a letter would not be the admission of failure that many imply.

The banking system in emerging economies

Drawing on contributions by senior central bank officials from emerging market economies and staff of the Bank for International Settlements, the BIS Papers "The banking system in emerging economies: how much progress has been made?" published 7 August…

Fundanga on the future of the Zambian economy

In the speech 'Future of the Zambian economy - a balanced look' given on 30 June Caleb M Fundanga of the Bank of Zambia said we see the future of the Zambian economy as one which is highly diversified through resuscitating the industrial base to enable…

How Greenspan gave Stevens a master class

According to this article, published Tuesday 8 August by The Australian, the elevation of Glenn Stevens to governor of the Reserve Bank of Australia barely raised a ripple on Wall Street.

SARB's Guma reappointed deputy governor

South African President Thabo Mbeki has reappointed Xolile Guma to serve as deputy governor of the central bank for another five years, the South African Reserve Bank (SARB) said on Monday 7 August.

Bank of Uganda to manage oil revenues

According to this article published by The East African on Monday 7 August, Uganda is finalising the setting up of a Petroleum Fund to manage revenues expected from recently-discovered oil fields in the country.

Slovakia pledges 2009 for euro adoption

In an interview with the Financial Times, Slovakia's finance minister Jan Pociatek said, "It is my personal responsibility to follow the euro commitment," allaying fears that the new leftist government might delay the adoption of the single currency.

Kansas Fed's Hoenig on the economic outlook

In the speech 'The economic outlook and monetary policy: Challenges in the period ahead' given on 19 July Thomas Hoenig of the Federal Reserve Bank of Kansas City said monetary policy is "somewhat restrictive".

Guru with the keys to the kingdom

In a recent interview with The Banker magazine, Dr YV Reddy, governor of the Reserve Bank of India, says he is "not necessarily looking for a dramatic shift" in the "dynamic mix" that currently makes up the banking sector in India.

Li Yang says China shouldn't follow US

China should not follow in the footsteps of the United States by starting a cycle of interest rate rises, former central bank adviser Li Yang said in an article published on Monday 7 August.

New York Fed's Foreign Exchange Operations Report

According to the Federal Reserve Bank of New York's Treasury and Federal Reserve Foreign Exchange Operations quarterly report for April-June 2006, published 3 August, the U.S. monetary authorities did not intervene in the foreign exchange markets during…

IMF's Rato on the Fund's Medium-Term Strategy

In the speech 'Progress in implementing the Fund's Medium-Term Strategy' given on 3 August Rodrigo de Rato of the IMF said the International Monetary Fund's relationship with Japan is one of its most important.

Mishkin sees benefits in inflation target range

According to this article by Reuters, published Wednesday 2 August, a new study by incoming Federal Reserve governor Frederic Mishkin says inflation target ranges can help central banks sidestep political pressure to let prices rise and achieve low…

IMF to give emerging economies votes

Managing director Rodrigo Rato said the International Monetary Fund is ready to give emerging economies greater representation in the organisation with changes to members' voting powers in September.

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