Economics
HKMA's Yam rejects calls to dump dollar peg
The Hong Kong Monetary Authority has said it would resist pressure to re-peg the Hong Kong dollar away from the U.S. dollar and onto the Chinese yuan.
Asia is getting ready to dump the dollar peg
According to this article published Monday 8 May, even as they continue to pile up U.S. debt in their foreign exchange reserves to keep their currencies stable against the dollar, Asian nations are preparing for a scenario where the dollar collapses…
Why the dollar is set to plunge
The fundamental reason for the dollar's weakness has become greater since it enjoyed a modest revival from the end of 2004, according to this article published Monday 8 May.
Central Bank of Bosnia - Annual Report 2004
According to the Central Bank of Bosnia and Herzegovina's Annual Report 2004, the BH economy has continued its growth from the previous period and during 2004 it had a higher growth rate than it had in 2003. Real growth is close to the growth of the…
Weber on forecasting in eurosystem central banks
In the speech 'Forecasting in eurosystem central banks - Overview and challenges' given on 5 May Axel Weber of the Bundesbank said the European Central Bank's economic forecasts will be based on market expectations for interest rates in future, rather…
Chairman Bernanke's clarity issue
According to this article published Thursday 4 May, while Ben Bernanke is unlikely to make radical changes in the statement issued after the next FOMC meeting, Fed watchers say he could aid his cause by eventually disclosing the central bank's forecasts…
RBA Statement on Monetary Policy, May 2006
The Reserve Bank of Australia published its May 2006 Statement on Monetary Policy on 5 May. The Australian economy is continuing to benefit from favourable international conditions, according to the report.
German pay policy points to a eurozone design flaw
According to this article by Paul de Grauwe, published Friday 5 May, in spite of the fact that the eurozone is a union of countries which set their monetary policy jointly, wage policies have been characterised by a blatant co-ordination failure.
Trichet 'not satisfied' with inflation over 2%
Speaking at the Frankfurt Chamber of Industry and Commerce on Friday 5 May, Jean-Claude Trichet said the European Central Bank is 'not satisfied' with inflation above 2 pct in the euro zone.
SNB's Blattner says rates will rise 'gradually'
Swiss National Bank vice-president Niklaus Blattner said on Friday 5 May that Swiss interest rates would continue to rise "gradually" to ensure longer term price stability.
An Asian monetary union?
This Working Paper from The Australian National University, published April 2006, empirically examines whether a group of 12 Asian countries is suitable to form an Asian Monetary Union (AMU).
Paper on political authorities and central banks
The Working Paper "Do interactions between political authorities and central banks influence FX interventions? Evidence from Japan" published April 2006 proposes a model that takes account explicitly of differences in exchange rate objective between…
Stratthaus rejects Buba board membership
Gerhard Stratthaus, finance minister of the state of Baden-Wurttemberg, has declined to join the Bundesbank's board, according to the Financial Times Deutschland.
Bulgarian National Bank - Annual Report 2004
According to the Bulgarian National Bank's Annual Report 2004, economic growth in Bulgaria accelerated to 5.6 per cent in 2004.
Europe must relax inflation test for euro entrants
According to this article by Willem Buiter, published Thursday 4 May, forcing eurozone membership candidate countries to meet both an exchange rate criterion and an inflation criterion makes no economic sense.
Is the IMF still useful?
IMF reform has been on the policy agenda for a long time. In the last year, however, reform discussions acquired a new sense of urgency, this article by Barry Eichengreen published Thursday 4 May says.
China needs more Volcker and less Greenspan
According to this article published Monday 1 May, China's recent increase in interest rates may have the opposite effect to what was intended. The move may boost the economy, instead of slowing it, it says.
Fed's Bies on current bank capital and market risk
In the speech 'Supervisory perspective on current bank capital, market risk, and loan product issues' given on 4 May Susan Schmidt Bies of the Federal Reserve said top bank managers must be involved to make sure their institutions' exposure to risks is…
Information & interest rate-setting central banks
The Working Paper "How much information should interest rate-setting central banks reveal?" extends Morris and Shin's model to the case where the central bank must anyway convey some information by setting the interest rate.
ECB's Gonzalez-Paramo on financial statistics
In the speech 'Financial statistics for a global economy' given on 4 May Jose Manuel Gonzalez-Paramo of the ECB said the global statistical governance for official financial statistics will be guided by the fundamental principles of official statistics…
ADB says growth depends on oil price fall
The Asian Development Bank has said the rapid growth of the region's economies may only be sustained if there is a decline in global oil prices.
Cayman Islands Monetary Authority - Ann Rep 04-05
According to the Cayman Islands Monetary Authority's Annual Report 2004-2005, the Authority completed its second full year of operational independence from the Cayman Islands Government during the period under review.
Bernanke couldn't be clearer -- You hear that?
According to this article published on Wednesday 3 May, although virtually all reporters treat discussions at social events as being off-the-record, Ben Bernanke wasn't cautious enough about the ground rules when he chatted with journalists at the recent…
Issing's views return to fashion
Just as he prepares to leave the European Central Bank, Otmar Issing's views are coming into fashion, according to the article 'Issing's views return to fashion as he prepares to leave ECB' published on Wednesday 3 May.