Economics
Comment: Islamic banking - progress and hurdles
Recent IMF research puts the number of Islamic financial institutions worldwide above 300, having risen from only one in 1975. The total assets of these institutions, growing at 15% a year, have reached an estimated $250 billion.
The ECB's path that was not taken
The ECB risks painting itself into a corner following its recent interest-rate hike, according to this article published on Monday 12 December. The move implies more increases will follow, it says, and that will cost the Eurozone economies heavily.
Bank of England Quarterly Bulletin, Winter 2005
The Bank of England released its Quarterly Bulletin for Winter 2005 on Monday 12 December. The latest Bulletin includes the article "Do financial markets react to Bank of England communication?".
Dallas Fed's Fisher on globalization & govt policy
In the speech 'Globalization and government policy' given on 2 December Richard Fisher of the Federal Reserve Bank of Dallas said the Fed must not accommodate growing federal budget deficits by compromising monetary policy, and it must continue to fight…
Indonesia's bumpy road to credibility
With inflation set to stay in double digits for much of 2006, Indonesia's central bank continues to face a precarious balancing act, according to this article published on Monday 12 December. The puzzle is how to balance monetary tightening to cool…
ECB's Liebscher sees no more hikes 'at the moment'
ECB Governing Council member Klaus Liebscher said in a media interview that the eurozone central bank is not planning any further rate rises for now but will keep a close watch on new economic data.
Quaden notes rates favour euro zone growth
European Central Bank council member Guy Quaden told Belgian TV that the ECB's benchmark rate can still foster economic growth and that policy makers haven't decided whether to add to this month's increase in rates.
ECB's Liikanen says rates support growth
European Central Bank Governing Council member Erkki Liikanen said on Monday 12 December that eurozone interest rates are low and support growth.
Bank of England defends communication
A study published by the Bank of England on its communications on Monday 12 December that financial markets show the strongest reaction to minutes of its MPC policy meetings and the quarterly Inflation Report.
ACCI sees no reason to change RBA appointments
The Reserve Bank of Australia is the most successful central bank in the world and the appointment process to its board should not be changed, Australia's business organisation ACCI said this week.
Interview with IMF's Agustin Carstens
Agustin Carstens, Deputy Managing Director of the International Monetary Fund, recently talked about the challenges facing the Eastern Caribbean region.
State Bank of Pakistan appoints governor
The President of Pakistan appointed Dr Shamshad Akhtar as governor of the State Bank of Pakistan on Saturday 3 December for a period of three years.
BCEAO governor named as Cote D'Ivoire PM
The governor of the Central Bank of West African States (BCEAO), Charles Konan Banny, has been named the new Prime Minister of the Cote D'Ivoire, formerly known as Ivory Coast.
Stark tipped as Issing's replacement at ECB
Germany wants to hold its seat on the European Central Bank's executive board and could nominate Bundesbank Vice President Juergen Stark to replace Otmar Issing next year, Deputy Finance Minister Thomas Mirow said in an interview this week.
ECB's Bini Smaghi on economic forecasting
In the speech 'Economic forecasting and monetary policy' given on 8 December Lorenzo Bini Smaghi of the ECB hinted that further interest rate increases may be on the way for the euro zone.
Knight on central banking: some secrets of success
In the speech 'Central banking: some 'secrets of success'' given on 1 December Malcolm Knight of the BIS said the media, markets and politicians place powerful demands on a modern central bank.
Paper on central bank research, 1990-2003
The Bank of Canada Working Paper "Quantity, quality, and relevance: Central bank research, 1990-2003" published December 2005 documents the research output of 34 central banks from 1990 to 2003, and use proxies of research inputs to measure the research…
Greenspan saves the world again
Federal Reserve chairman Alan Greenspan attended his final G7 meeting in his official capacity last weekend. He receives various tributes, honours and gifts, including a cartoon depicting him as a goal keeper.
IMF chief economist sees further US rate hikes
The International Monetary Fund's chief economist, Raghuram Rajan, predicted on Friday 9 December that the Federal Reserve would probably continue to raise interest rates.
ECB's Issing says rate policy no block to recovery
The European Central Bank's interest rate policy is no obstacle to an economic upturn in the euro zone, ECB chief economist Otmar Issing told German weekly Rheinischer Merkur.
Greenspan says debate, openness must be balanced
Federal Reserve chairman Alan Greenspan said in response to questions from Congress that the FOMC works hard to balance policymakers' need to have private discussions about economic matters and investors' desire for transparency.
Greece's Garganas: ECB won't follow Fed rate rises
The European Central Bank won't follow the US Federal Reserve's practise of continuous interest rate hikes, Bank of Greece governor and ECB Governing Council member Nicholas Garganas said Friday 9 December.
Tanigaki urges BOJ not to rush policy shift
Finance Minister Sadakazu Tanigaki has urged the Bank of Japan not to rush in ending its current quantitative expansionary monetary policy framework.
Comment: Risks facing buoyant South Africa
As is the case in many emerging market economies, South Africa is yet to escape the perception that its economic fortunes are to a large extent dependent on the performance of its currency.