Economics
IMF paper on the European single financial market
The IMF Working Paper "The lender of last resort in the European single financial market" published May 2006 examines challenges in effectively implementing the lender-of-last-resort function in the EU single financial market.
ECB announces distribution of responsibilities
Within the framework of its collective responsibility for the overall functioning of the business areas of the European Central Bank, the Executive Board of the ECB agreed Thursday 1 June on a distribution of responsibilities among its members, with…
Bernanke subcommittee to explore communication
Federal Reserve chairman Ben Bernanke has called on three experienced Fed officials to explore a broad range of issues related to how the Fed talks to financial markets.
RBA's Stevens on risk and the macroeconomy
In the speech 'Risk and the macroeconomy' given on 27 May Glenn Stevens of the Reserve Bank of Australia said interest rates around the world can't stay low and steady ``permanently'' and central banks will continue to control inflation.
Comment: Replacing Issing
Pressure is mounting on the ECB to finalise the reshuffle of its executive board, necessitated by the departure of its chief economist and head of research, Otmar Issing, this week. The absence of any official announcements on the matter is leading to…
Former Fed chair Volcker faults US policy
Former chairman of the Federal Reserve Paul Volcker has said US policy abroad is too abrasive.
Japan's Tanigaki sees continuity with Paulson
Japanese Finance Minister Sadakazu Tanigaki said Wednesday 31 May that he does not believe, at least for now, that there will be a change in the U.S. foreign exchange policy under Treasury Secretary nominee Henry Paulson.
RBA's Stevens calls for continuity
Glenn Stevens, deputy governor of the Reserve Bank of Australia, has called for "continuity" above all else when it comes to finding a replacement for governor Ian Macfarlane in September.
Fed's Olson on community development
In the speech 'Community development and the bigger picture' given on 25 May Mark Olson of the Federal Reserve said recent news on the U.S. economy has been positive on balance and forecasters expect activity to moderate to a more sustainable pace than…
Reflections on operating inflation targeting
In a paper delivered on Thursday 25 May at the Graduate School of Business of the University of Chicago, Paul Tucker of the Bank of England sets out some reflections on the operation of an inflation targeting regime after four years on the MPC.
Fed Reserve Bank of Dallas - Annual Report 2005
The Federal Reserve Bank of Dallas's Annual Report 2005 includes the essay "Racing to the top: How global competition disciplines public policy." All over the world, consumers are getting more of what they buy from other countries. Since 1987, exports…
ECB paper on catching-up member states
The ECB Working Paper "Implications of monetary union for catching-up member states," published May 2006, examines the implications of monetary union for macroeconomic stabilisation in catching up participating countries.
Comment: May in Review
Inflation concerns and financial markets volatility returned in the month of May - central bankers around the world, in both the developed and developing world, are suddenly confronted with a very different environment.
Dodge on the Canadian economy
In a speech given on 30 May David Dodge of the Bank of Canada said the past few years have seen extraordinarily strong global economic growth.
New Zealand hosts EMEAP central bank governors
Central bank governors from major countries in the region gathered in New Zealand over the weekend to discuss common issues, Reserve Bank of New Zealand governor Alan Bollard said Monday 29 May.
ECB's Issing warns against EMU 'tensions'
European Central Bank chief economist Otmar Issing is warning against "tensions" in the European monetary union, according to an interview published in Handelsblatt on Monday 29 May.
Fukui says zero rate policy depends on economy
Bank of Japan governor Toshihiko Fukui said in parliamentary testimony on Tuesday 30 May that ending the central bank's zero interest rate policy depends on economic growth and inflation.
Bush nominates Henry Paulson as Treasury Secretary
US President George W. Bush on Tuesday 30 May said he would appoint Hank Paulson, chief executive of Goldman Sachs, to take over from John Snow as treasury secretary.
Bank of Canada Review, Spring 2006
The Bank of Canada published its Review for Spring 2006 on 25 May. The Review includes the article 'Global imbalances - Just how dangerous?' which provides a guide to the major issues and controversies involved in the debate.
Knight on Asia, the dollar & global imbalances
In the speech 'Asia, the US dollar and global imbalances' given on 18 May Malcolm Knight of the BIS said global imbalances in current account deficits and budget deficits are "not sustainable".
Hong Kong Monetary Authority - Annual Report 2005
According to the Hong Kong Monetary Authority's Annual Report 2005, Hong Kong enjoyed robust economic growth in 2005, following a strong and broad-based recovery in 2004.
Russian central bank to manage state oil fund
Russia's central bank has been given the green light to manage the state's fund of oil profits, the Russian minister of finance, Alexey Kudrin, announced earlier this week.
PBOC's Tang says China may not tighten further
China may not need to tighten its macro-economic policy further in the near future, Tang Xu, the director of the People's Bank of China's research bureau, said in an interview published in the official Shanghai Securities News.
UAE offers training to central bank of Afghanistan
The central bank of the UAE on Thursday 25 May offered to provide the central bank of Afghanistan with technical training for its staff, the Khaleej Times reported.