Opinion
New Bank of England governor speaks of his pride
On the eve of taking over as Governor of the Bank of England, Mervyn King spoke to The Times about his personal approach to the role, filling the shoes of Sir Edward George and crucial issues facing the financial sector, including the prospect of…
Fedspeak with the Fed rate cut
An article in the Washington Times suggests that to understand what the Federal Reserve does, it's best to start with reasonably low expectations about what any central bank can do. It also suggests that the Fed's "balance of risk" assessment of the…
The Bank of England gets a respected new chief
Mervyn King began his 5-year term as governor of the Bank of England on 1 July. An article in BusinessWeek describes him as the brains behind the Bank's solid track record since 1997. He is viewed as both a formidable scholar and independent thinker.
Farewell Eddie
Sir Edward George retired from the Bank of England on Monday. An article in the Financial Times looks back at his time as governor which, it says, can be looked on a successful decade which will not see him move rapidly from Who's Who to Who's He?
The case for a single currency for the planet
A recent conference in Italy debated the idea of a common global currency and a world central bank, according to the Wall Street Journal. If the euro can replace the franc, mark and lira, why can't a new world currency merge the dollar, euro and yen? A…
''The Fed has not avoided danger''
An article in the Financial Times argues that the Federal Reserve's decision to cut interest rates last week was a missed opportunity. Quantitative easing through an expansion of the money supply is needed, it argues, or the economic recovery could be…
Spotlight on central bank efficiency
Centralbanknet Monday Special Feature: How many economists does it take to set an interest rate? 320 staff toil away in the Bank of England's monetary analysis area. New Zealand's reserve bank manages with an entire staff of under 200. On the other hand,…
Wisdom, wit and gaffes from Sir Edward George
As the governor of the Bank of England prepares to leave the Old Lady an article in the Independent guides you, in its words, "through some of Sir Edward's "thoughts" and some other thoughts about Sir Edward, renowned central banker, after-dinner speaker…
FATF tightens laundering rules - Monday Special
The Financial Action Task Force (FATF) on money laundering on Friday 20 June released a radically-overhauled set of rules for preventing money laundering internationally. CentralBankNet's Monday special feature comes from the sidelines of the meeting in…
Gap in our knowledge about output and inflation
In this article in the Financial Times Samuel Brittan looks at the idea of discretionary fiscal policy replacing monetary policy once Britain is in the euro - a return to Keynesian demand management as some have describe it. The Treasury's proposal…
CBN: Who wants Sanusi out ?
An article in the Nigerian Daily Times discusses the recent speculation over the resignation of the governor of the central bank of Nigeria (CBN) Joseph Sanusi. During the week he found himself learning about his resignation from the media the article…
Interview with Bank of England's Stephen Nickell
UK inflation has peaked and will soon head lower, Bank of England Monetary Policy Committee member Stephen Nickell told Reuters in an interview on Tuesday 17 June. He also played down the importance of the government's plan to switch the Bank's inflation…
"Do not impose a currency crisis on Europe"
In an article in the Financial Times Charles Wyplosz asks which exchange rate band should apply to the EU's accession countries aiming to qualify for membership of the euro. The narrow exchange rate mechanism band of 2.25 per cent may apply but the new…
Central bank technocrats rule democratic roost
Joseph Stiglitz said in an article in Business Day, Johannesburg, that research shows that if central banks focus on inflation, they do a better job at controlling inflation. However, controlling inflation is not an end in itself: it is merely a means of…
"Too important for central bankers"
Central banks' ruthless pursuit of price stability holds back economic growth and boosts unemployment, says Joseph Stiglitz in an article published in the Guardian on Tuesday June 10.
Joseph Stiglitz - Big lies about central banking
Central banks make decisions that affect every aspect of society, including rates of economic growth and unemployment, but because there are tradeoffs, these decisions can only be made as part of a political process, writes Joseph Stiglitz in the Taipei…
Interview with central bank governor: Yves Mersch
In an interview with Reuters, Yves Mersch of the central bank of Luxembourg said he hopes for a "euroisation" effect with the opening up of EU markets because of the single currency.
U.K. Euro Decision: Assessment and Analysis Guide
A report published on Monday 9 June by Bloomberg News provides a concise guide to the UK decision on the euro. It lists the five tests and the 18 separate studies used in the decision process as to whether to call a referendum on adopting the euro in the…
CentralBankNet Monday Special Feature
CentralBankNet looks into the Bank of England's forthcoming trial over its regulation of the now-liquidated Bank of Credit and Commerce International and finds the implications of a loss in court disturbing.
New BIS chief says banks weathering downturn well
In an interview with Reuters Malcolm Knight, who took over as general manager of the BIS in March, said though banks have suffered a combination of woes, including uncertainty over the Iraq war, market volatility and the economic downturn, "the overall…
Brazil's Meirelles says inflation 'stubborn'
Brazil's central bank governor Henrique Meirelles said in a Reuters interview on Monday 2 June that last year's collapse in the value of the real has left stubborn inflationary pressures with prices failing to adjust domestically after the fall in the…
"Myths surrounding a deflationary spiral"
An article published in the Financial Times argues that although some commentators think that the world economy is about to be devoured by deflation, in fact UK and Eurozone rates are currently at 3 and 1.9 per cent. Jacek Rostowski says that those…
Deflation is a "matter of national choice"
In an article published in the Financial Times Avinash Persaud says attempts by the Japanese to inflate their economy fail because Japan is a nation of creditors.
Survey says number of forex players may fall
A future with fewer players in the global foreign exchange market is the main finding of a new survey, says a report by Chris Swann, former foreign exchange correspondent at the Financial Times. CentralBankNet takes a look at the main findings of the…