Opinion

Comment: Talking points in October

October has been a month of change, with high-profile staff announcements at the Bank of England, the Swedish Riksbank and, of course, the U.S. Fed. Here is a check list of these and other topics that have surfaced this month and are likely to remain of…

Missing ingredient in BOK

According to this article published on Wednesday 26 October, although the Bank of Korea's interest rate policy is supposed to be as powerful as the Fed's, few still believe that the BOK operates its monetary policy independently from the government.

Comment: Braced for a bumpy ride

The Bank of England, along with central banks in several other developed countries, has enjoyed fairly benign conditions in recent years. Inflation pressures have been relatively low, avoiding the need for the Bank to make the tough choice between output…

Ben Bernanke has a lot going for him to make it

According to this article published on Tuesday 25 October, Ben Bernanke will have a lot going for him if he becomes, as expected, the next chairman of the Federal Reserve. He is among the most knowledgeable economists in the world about monetary policy…

How can Bernanke succeed Greenspan?

This article published on Tuesday 25 October asks how can Ben Bernanke succeed a man described by President Bush as the most dominant central banker in history?

Comment: 'Ideas guy' takes the reins

The nomination of Ben Bernanke to be the fourteenth Federal Reserve chairman has been met in academic and policymaking circles with warm applause. Bernanke, quite simply, was the candidate the market wanted.

Comment: Bands or point targets?

Relatively little attention is paid to issues regarding optimal institutional arrangements for inflation-targeting central banks, as the big policy debates seem to revolve more around whether or not countries should adopt the framework in the first place…

Comment: FX interventions

Most central banks have moved away from actual foreign exchange market interventions and now use communication, or verbal intervention, as a policy instrument to influence exchange rates when deemed necessary and desirable.

Greenspan isn't signaling rate-increase pause

According to this article published on Thursday 20 October, when Alan Greenspan told business executives in Tokyo this week that from now on "the recent surge in energy prices will undoubtedly be a drag" on economic growth, he wasn't signaling a pause in…

Comment: Slipping behind on the euro

When ten new countries joined the EU in May last year, they did so promising that one day they would adopt the euro as their currency. At the time it seemed they hardly needed any coercing - joining the euro was something policymakers in these countries…

Comment: Oil's well that ends well?

In an increasingly integrated world, the economic fortunes of other countries and the health of the global economy weigh heavily on the minds of domestic policymakers. One of the most important "external" issues for monetary policymakers to deal with is…

G-20 statement following meeting in China

Finance ministers and central bank governors from the G-20 industrial and emerging economies issued a statement on Sunday 16 October after their two-day meeting in the city of Xianghe, south of Beijing, China.

BOJ must tread carefully in the days ahead

According to this Editorial published on Friday 14 October, the Bank of Japan must take great care when scrapping its easy-money policy. And the central bank's monetary policy should be consistent with the government's efforts to regain fiscal health, it…

Comment: Dealing with financial risks

Financial systems around the world have changed dramatically in the last 30 years. Borrowing and lending volumes have increased to levels unimaginable three decades ago, lending rates recently reached historically low levels, and instruments catering to…

Euro losing allure for EU newcomers

According to this article published on Tuesday 11 October, the EU's single currency seems to have lost its allure for several of the 10 countries that joined the bloc in May last year.

Comment: An EMU fairy tale revisited

In 1996, David Lascelles wrote an imaginative and controversial report titled "The Crash of 2003: an EMU Fairy Tale", which was presented as a fictional report into the demise of the single currency.

Comment: "Critical period," says Fukui

Yesterday was an important day for the Bank of Japan. All eyes were on its governor, Toshihiko Fukui, as he spoke after the latest policy board meeting. Also, deputy governor, Toshiro Muto, delivered parliamentary testimony.

Brown should bank on a change of approach

This article published on Tuesday 11 October asks whether it could be time for the UK's Chancellor to re-order the remit of the Bank of England's MPC? Or at least place growth, which ultimately leads to jobs and prosperity, as an equal priority to price…

Comment: ECB on banking in the EU

The ECB recently published its annual report on EU banking structures, outlining the main developments in the sector in 2004 and the first half of 2005. The report identifies a number of important structural developments that are of great importance for…

Comment: Trichet on European reforms

In order to enhance or even maintain its economic prospects, Europe needs substantial economic reforms. While continental electorates appear reluctant to accept this argument, it has become the battle cry of the European centre-right and international…

Comment: Venezuela's reserves

The Central Bank of Venezuela last week confirmed that it had liquidated more than half of its operational reserves and deposited the funds at the Bank for International Settlements (BIS).

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