The desire of some lawmakers to subject the Fed to extra scrutiny betrays a misunderstanding of central bank independence and monetary policy.
Articles on Central banks
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Mario Draghi did get round to announcing a much-anticipated new round of quantitative easing (QE) in the end, but never have nine minutes felt so long. The world tuned into the European Central Bank press…
Currency wars have been predicted for years. Outright monetary battles were last seen during the Great Depression of the 1930s, when governments competed to devalue their currencies to gain market advantage…
China’s central bank surprised most observers last month when it announced its first interest rate cut in more than two years. The move is intended to bolster growth in the world’s second-largest economy…
The subprime crisis and the subsequent failure of Lehman Brothers came as such a shock – and the repercussions were so severe that when the time came to mount a response, policy makers were as surprised…
Federal Reserve Chair Janet Yellen has her work cut out for her if she hopes to change the culture at the world’s most important central bank. Media reports abound with evidence that the financial industry…
As the US economy emerges from recession, the prospect of the US Federal Reserve raising interest rates grabs the attention of the financial markets more and more. US rates have been close to zero for…
It’s an unnerving time for Africa’s banking industry. On August 19, the ratings agency Moody’s announced it had downgraded by a notch the risk rating of South Africa’s four biggest banks – FirstRand, Standard…
As UK house prices continue to head sharply higher, Bank of England governor Mark Carney thinks they represent the biggest danger to the economic recovery in Britain. They certainly pose a stern test for…
The effective death of the forward guidance strategy offered by the Bank of England came with the announcement in early February that there would be a switch to a less quantitative approach. Dubbed by…
The suspension of governor Lamido Sanusi from the helm of the Central Bank of Nigeria (CBN) is important, and not just for for analysts of future Nigerian monetary and exchange policies. Sanusi’s case…
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