Opinion

Comment: Greenspan's legacy

As the curtains are drawn on the Alan Greenspan era at the Federal Reserve, the debate over whether or not the Fed should have increased interest rates to curb asset bubbles rages on. This debate misses the extent to which the Fed's actions may have…

Comment: The Old Lady's new deputy

The Bank of England's new deputy governor for financial stability, Sir John Gieve, appeared yesterday before the Treasury Committee of the House of Commons for his appointment hearing.

Comment: Lambert on CB communication

In a speech delivered in Mumbai earlier this week, Richard Lambert, an external member of the Bank of England's Monetary Policy Committee, argued that although a disciplined communications strategy is an absolute necessity for all modern central banks,…

Interview with CBN's Charles Soludo

Speaking on Thursday 19 January Central Bank of Nigeria governor Charles Soludo forecast 2006 inflation to fall to "single digits", probably nine percent, and said 2005 price growth had likely been 12 percent, just above the 10 percent target.

Time to judge the whole record of Alan Greenspan

According to this article published Thursday 19 January, Alan Greenspan was widely seen as giving his blessing to the tax cuts of 2001 - the beginning of the end of a solid decade of progress on fiscal discipline.

Comment: Geithner sounds a loud warning

For the second time this month New York Fed president and vice-chairman of the rate-setting Federal Open Market Committee, Timothy Geithner, has publicly adopted a view on a major policy issue that differs substantially from that of incoming Fed chairman…

Foreign reserves: a dilemma of success

According to this article published Friday 20 January, China is caught in a dilemma between relieving the pressure for the yuan's value to rise and tempering the growth of money supply.

Interview with PBOC's Ma Delun

In comments published on Friday 20 January, People's Bank of China Assistant Governor Ma Delun said the market is determining the yuan's exchange rate, rejecting US criticism that the Chinese authorities are keeping the currency artificially weak to help…

Pushed, prodded, Greenspan leaves openness legacy

This article published on Wednesday 18 January says one of the abiding legacies Alan Greenspan will leave behind when he departs the Federal Reserve at the end of January is a major shift toward openness at the U.S. central bank.

Comment: Fed debate continues

Janet Yellen, president of the San Francisco Fed, on Thursday 20 January came out in strong support of incoming chairman Ben Bernanke's suggestion that the Fed should adopt fully-fledged inflation targetting.

Comment: Ugandan banking takes off

A recent IMF working paper documents the vast improvements in the Ugandan banking sector in recent years, arguing that the extension of the central bank's regulatory capacity and the withdrawal of state control have resulted in efficiency gains.

Will Japan target inflation in 2006?

According to this article published on Wednesday 18 January, despite its previous opposition, the Bank of Japan is now likely to find merit in the adoption of a formal inflation target, possibly in conjunction with the government.

Bernanke must prove mettle with rate hike

What the financial markets want from a new Fed chairman are several attributes, among them technical competence and independence, according to this article published on Tuesday 17 January. To prove he's the right person for the job, Ben Bernanke must…

Comment: Are mortgage markets too complex?

A report published this week by the Bank for International Settlements (BIS) suggests that households may no longer "completely understand their mortgage contracts". Not surprisingly, the authors contend that recent changes in housing finance systems…

Eventually, Soludo is the solution

According to this article, Saturday 31 December 2005 marked the triumph of Central Bank of Nigeria governor Prof. Charles Soludo's vision over preponderant pessimism, the haranguing of hired hecklers and the legal ambush of vested interests.

Britain's fiscal rule is more leaden than golden

Lectures to Britain from the European Union on fiscal discipline are hypocritical and pointless, according to this article published on Monday 16 January. However, the UK government's "golden rule" has masked an escalating deficit on state spending that…

Draghi joins ECB council,marking changing of guard

A new generation is taking the levers of power at the ECB. This article published on Monday 16 January says the new breed of central banker could bring a heightened pragmatism to ECB decision-making, one less shaped by ideology as the centre of gravity…

Former Fed governors expect change

According to the article "As Bernanke era begins, former Fed governors expect change" published Wednesday 11 January, Ben Bernanke will arrive at the Fed without the clout either of his predecessors carried on Wall Street or in Washington. Only time will…

Is China accumulating too much foreign cash?

According to this article published on Monday 16 January, with China's reserves now approaching the level of Japanese holdings, there are fears that this vast hoard of foreign exchange exposes the country to risks that could undermine future growth.

Comment: Riksbank to turn the tide

Incoming Riksbank governor, Stefan Ingves, faces a challenge that few, if any, central bank governors have yet had to confront: making the case for a rate hike at a time when inflation is still below the inflation-targetting central bank's tolerance…

China's conundrum tops Greenspan's riddle

According to this article published on Friday 13 January, China's ascent will become more apparent than ever this year, establishing the nation's status as a superpower and sending new reverberations through the global economic order.

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