Coming in from the cold

Article Abstract:

Central bank independence needs to be accompanied by accountability and transparency in democracies. The public should be education about the benefits of price stability, and there is a need for financial markets and central banks to understand each other. The European Central Bank has been criticized for lack of transparency, despite a clear monthly bulletin. There is no inflation forecast and the is linked to uncertainties faced by the bank, which does not have to answer to a particular government.

Political aspects, Central banks, Monetary policy

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Singapore's little bang

Article Abstract:

The economy of Singapore has performed better than most in South East Asia in the two years since the economic crisis began in the region. This is linked to sound fiscal management, and the competence of Singapore's financial regulators. The stock market was liberalized in 1998, and banking reform has been announced in 1999. Restrictions will be eased on foreign investment in domestic banks, and additional powers will be granted to the Monetary Authority of Singapore.

Banking industry, Economic policy, Singapore

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