Economics
BoE's Nickell sees UK interest rate freeze
The prospect of interest rates in the UK remaining unchanged over the coming months increased when a leading Bank of England official was quoted as saying no further changes are required.
ECB's Caruana expects moderate rate rise
European Central Bank Governing Council Member Jaime Caruana echoed comments from some other ECB officials on Thursday 24 November when he said he expects a "moderate" rise in eurozone interest rates.
EU plans Bank of Italy legal action
The European Commission will begin legal action against the Bank of Italy next month over its handling of recent bank mergers involving foreign bids, Internal Market Commissioner Charlie McCreevy said on Thursday 24 November.
Chicago Fed National Activity Index, October 05
The Chicago Fed National Activity Index for October 2005 was +0.73 up from -0.82 in September. All four broad categories of indicators that make up the index made positive contributions.
SARB's Mboweni on the rand and hot money outflows
In the speech 'How exposed is the rand to the potential outflow of hot money?' given on 21 November Tito Mboweni of the South African Reserve Bank said there are a number of indicators that provide some comfort that the South African economy is coping…
Bank of England voted 9-0 to hold rates
The Bank of England's Monetary Policy Committee voted unanimously for a third month in November to keep the benchmark interest rate unchanged, according to minutes released on Wednesday 23 November.
US rate outlook may change `before long'
Federal Reserve policy makers discussed the need ``before long'' to alter their outlook for U.S. interest rates, with some FOMC members concerned about the risk of raising it too much, minutes of their 1 November meeting showed.
Forex pegging may be counterproductive says Dodge
Bank of Canada Governor David Dodge said in previously private remarks to the Bank of France on November 4 that pegging a country's foreign exchange rate could hinder macroeconomic adjustment.
BoE's Barker sees improved consumer spending
Consumer spending should improve by the middle of 2006, Bank of England policymaker Kate Barker said on Tuesday 22 November.
China could use more yuan flexibility says IMF
The International Monetary Fund urged China to follow up the July reforms to its currency regime on Monday 21 November by allowing market forces to exert more influence on the value of the yuan.
Fukui says BOJ will decide policy shift alone
The Bank of Japan will take full responsibility in deciding when to end its ultra-easy monetary policy, while maintaining close contact with the government, BOJ Governor Toshihiko Fukui was quoted as saying on Wednesday 23 November.
Comment: ECB's strategy risks confusion
Jean-Claude Trichet's recent comments have effectively shifted the debate from whether or not the ECB will raise interest rates, to how aggressive and how persistent future rate hikes will be. The ECB's strategy raises a number of questions.
Bank of Japan Monthly Report, November 2005
The Bank of Japan published the English version of its November 2005 monthly report on 22 November. In its report the BOJ said exports have continued to increase moderately, industrial production is on an uptrend and corporate fixed investment continues…
Philadelphia Fed Business Outlook Survey, Nov 2005
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, November 2005, activity in the region's manufacturing sector continues to expand.
Bank of Japan
According to this recent article, the government and Liberal Democratic Party officials should not be blatantly meddling in the Bank of Japan's policy. Although the BOJ needs to stay in closer connection with the fiscal authorities, it says.
Chicago Fed's Moskow on U.S. economic outlook
In the speech 'U.S. economic outlook' given on 21 November Michael Moskow of the Federal Reserve Bank of Chicago said more Federal Reserve rate increases are appropriate at this point, even with the federal funds rate now at the low end of a neutral…
Evolving perceptions of the European Central Bank
The New York Fed Staff Report 'Establishing credibility: Evolving perceptions of the European Central Bank' published November 2005 presents an empirical framework that uses high-frequency data to test for persistent variation in market perceptions of…
Gonzalez Paramo calms mood after Trichet comments
European Central Bank board member Jose Manuel Gonzalez Paramo has sought to play down Jean-Claude Trichet's recent comments that an increase in Eurozone interest rates could come at its next meeting on 1 December.
Belgium's Quaden cautious on rates
Belgian National Bank governor Guy Quaden said that the economic situation in the eurozone is different from that of the US which has seen a lengthy series of interest rate increases.
Buba says Merkel's budget may be unconstitutional
Angela Merkel, who was sworn in as German Chancellor on Tuesday 22 November, plans to ignore constitutional rules in running up record borrowing next year, the Bundesbank said in its November monthly report.
NZ's Bollard prioritises slowing demand
Reserve Bank of New Zealand governor Alan Bollard said in a report published on Tuesday22 November that slowing the pace of domestic demand is a `priority' and another interest-rate increase cannot be ruled out.
Phil Fed's Survey of Professional Forecasters
The Federal Reserve Bank of Philadelphia published its Fourth Quarter 2005 Survey of Professional Forecasters on 14 November. Growth in the current quarter looks slower now than it did just three months ago, according to the 51 forecasters surveyed.
Central banks as agents of economic development
In the last two decades, there has been a global sea change in the theory and practice of central banking. The neoliberal central bank policy package is drastically out of step with the history and dominant practice of central banking throughout most of…
Bank of Canada Review, Autumn 2005
The Bank of Canada published its Review for Autumn 2005 on 17 November. The Review contains four articles including "The exchange rate and Canadian inflation targeting" and "What drives movements in exchange rates?".