Monetary policy frameworks--Norges Bank in the light of the literature and international practice.
The past 20 years have brought major changes in monetary policy, in Norway and abroad. Most central banks now have instrument independence, and price stability is the common objective of monetary policy. The organisation of the monetary policy decision within central banks has also changed. This decision is now...

State-sanctioned counterfeiting: the Federal Reserve's little-understood financial operations have just gotten a bit more arcane, thanks to the recent creation of the Term Auction Facility, or TAF.
[ILLUSTRATION OMITTED] The Federal Reserve, like all central banks, is primarily engaged in manipulating the money supply. Nowadays, in the absence of any precious-metal standard tied to government money, the amount of money that central banks can create out of thin air (aptly named "fiat money") is...

The central bank's liquidity policy in an oil economy.
Norges Bank's instrument for achieving the objective of low and stable inflation is the key policy rate--the rate of interest on banks' deposits in Norges Bank. But how do Norges Bank's interest rate decisions affect market interest rates? They work through liquidity policy. The aim of liquidity policy is...

P/$ rate stands at P40.80/$ 1.
The peso exchange rate closed at P40.80 to the US dollar last Friday at the Philippine Dealing & Exchange Corp., (PDEx). The weighted average rate stands at P40.939. Investment upgrade studied Moody's Investors Service will decide in the next 12 months whether or not to...

Dick Bryan and Michael Rafferty: Capitalism with Derivatives: A Political Economy of Financial Derivatives, Capital and Class.
Dick Bryan and Michael Rafferty Capitalism with Derivatives: A Political Economy of Financial Derivatives, Capital and Class Palgrave Macmillan, 2006, viii + 236 pp. ISBN: 1-4039-3645-5 (hbk) 58.50 [pounds sterling] For most people, derivatives are relatively obscure--part of the esoterica of...

Can the Gulf weather the storm of US recession?
[ILLUSTRATION OMITTED] The US economic downturn is already taking its toll on global markets. In this issue of The Middle East three specialist commentators give their opinions on where the crisis in America will leave the oil-producing Gulf states. Skilled economic analyst, Moin Siddiqi, looks at the...

Dollar climbs on inflation data.
NEW YORK, Dec. 16 (Reuters) -- The US dollar rose sharply on Friday, posting its largest daily increase against the euro in almost three years, after strong US consumer price data trimmed expectations for further interest rate cuts by the Federal Reserve. The dollar rallied against major...

US Fed may see more room to cut rates as dollar stabilizes.
NEW YORK, Dec. 9 (Reuters) -- The US Federal Reserve may breathe a little easier as it ponders the impact of an interest rate cut next week now that the dollar has shown signs of stabilizing after a protracted slide against major currencies. The Fed is widely...

Investors look to likely BSP rate cut.
Byline: Edu Lopez Local investors are closely watching external factors particularly the impact of another rate cuts by Bangko Sentral. But the Wall Street plunge Friday is seen as a dampener to today's opening trade. Wall Street took a beating Friday as a...

Asian central banks defy G7, keep supporting $.
SINGAPORE (Dow Jones) China and other Asian countries, rebuffing a call by the industrial powers to let the regions currencies rise, Monday bought dollars and signaled they remain intent on curbing their currencies gains. Finance chiefs of the Group of Seven nations called Saturday for more flexibility...