Economics
Comment: The US housing puzzle
A new NBER working paper finds that there is "little evidence" of housing bubbles in the US. The authors argue that even in the highest-price cities, housing is perhaps only slightly more expensive than average.
Launch of spot USD/HKD fixing
The Treasury Markets Association (TMA) announced Monday 3 April that the Spot USD/HKD Fixing would be formally launched on 6 April 2006, the Hong Kong Monetary Authority said in a press release.
HKMA pay review 2006
The Hong Kong Monetary Authority (HKMA) announced on Friday 31 March the result of the annual pay review for staff of the HKMA in 2006.
National Bank of Kazakhstan - Annual Report 2004
According to the National Bank of the Republic of Kazakhstan's Annual Report 2004, investment activity on the part of domestic and foreign capital contributed a great deal to the country's economic growth.
Euro disaster a salutary lesson in what not to do
According to this recent article, the idea of a single currency area for countries like China, Japan, and Korea has certain obvious appeal. However, it is a big stretch to assume that a single currency union is either the best way for them to reap those…
Bernanke may prove hawk in dove's clothing
This article published on Wednesday 29 March reports that some commentators are saying the first few glimpses into the new Fed chairman's thinking suggest he may yet turn out to be more of a hawk than many predicted.
Review of IMF-World Bank collaboration
Rodrigo de Rato, Managing Director of the International Monetary Fund (IMF) and Paul Wolfowitz, President of the World Bank Group, announced Wednesday they have initiated a range of measures to promote a deeper and early review of Fund-Bank collaboration.
ECB's Trichet on economic integration
In the speech 'Economic integration in the euro area' given on 31 March Jean-Claude Trichet of the ECB said some eurozone countries are losing competitiveness due to high wage growth.
Canada's Dodge on an evolving IMF
In the speech 'The evolving international monetary order and the need for an evolving IMF' given on 30 March David Dodge of the Bank of Canada said the International Monetary Fund should virtually abandon the lending business and focus instead on…
Tumpel-Gugerell on ECB, Italy & Eastern Europe
In the speech 'The European Central Bank, Italy and the integration of Eastern Europe' given on 31 March Gertrude Tumpel-Gugerell of the ECB said the ECB's track record of containing inflation means that it does not have to hike interest rates…
Kansas Fed's Hoenig says US rates in neutral range
A Federal Reserve official said Friday 31 March that further economic data will let the U.S. central bank know how it should proceed on interest rates.
Central Bank of Kenya - Annual Report 2005
According to the Central Bank of Kenya's Annual Report 2005, economic performance during the year improved markedly from that witnessed in recent years.
India will grow faster with convertible rupee
According to this article published Monday 27 March, India's intention to make the rupee fully convertible could lead to full-fledged capital flight which could thrust the country into a serious banking and currency crisis.
The battle of the central bankers
According to this article published on Wednesday 29 March, central banks around the world are now engaged in a decorous competition to demonstrate their superior communication skills.
Rivals line up for RBA succession
Australian Treasurer Peter Costello has just six months to find a replacement for Reserve Bank of Australia governor Ian Macfarlane. According to this article published on Sunday 26 March, Glenn Stevens may be favourite for the post, but there is still…
Canada's Dodge on global imbalances
In the speech 'Global imbalances: Why worry? What to do?' given on 29 March David Dodge of the Bank of Canada said large and persistent current account imbalances are a global problem and all countries must adopt policies that will allow market forces to…
Bernanke says US can withstand dollar fall
The chronic U.S. trade gap need not fuel a "precipitous" decline in the dollar, but the economy may be able to shrug it off if it did, Federal Reserve Federal Reserve Chairman Ben Bernanke said in a letter.
Comment: Developments in March
March was an eventful month in central banking circles. The Bank of Japan put an end to its "quantitative easing" policy and attention now turns to the timing of its first interest rate increase.
Central Bank of Lesotho - Annual Report 2004
According to the Central Bank of Lesotho's Annual Report 2004, the Lesotho economy is estimated to have regained some growth momentum in 2004.
As rates rise, Asia's risky markets get riskier
The appetite for riskier Asian assets is strong, according to this article published Thursday 23 March, but rising interest rates raise the chance of investors dumping some of these assets and if sentiment turns suddenly, local markets could be…
Reforms to BoE's money markets operations
The Bank of England has announced that, subject to conducting a successful dress rehearsal, it is aiming to introduce the new reserve-averaging scheme and standing facilities on 18 May 2006.
New ECB premises project
As part of the preparations for the construction of the new ECB premises, the European Central Bank said on Tuesday 28 March that it has commissioned searches of the site.
ECB's Bini Smaghi: IMF risks becoming secretariat
European Central Bank (ECB) board member Lorenzo Bini Smaghi said the International Monetary Fund needs to give the ECB and eurozone stronger representation, according to an interview by the Financial Times.
Issing praises German deficit efforts
In an interview to be published Thursday 30 March European Central Bank chief economist Otmar Issing welcomed efforts by the German government to tackle the country's budget deficit.