Central Banks Quotes - Page 5

• [When] the market is trying to get to terms with, first, lower global growth, particularly out of emerging markets and China. And, second, the market is worried the central banks have run out of ammunition. So put these two things together, and then investors are repricing the market lower.

  Mohamed El-Erian

  Running, Two, Growth

  Source: www.pbs.org

  4 Copy quote

  Show source

• For a small open economy that trades mostly with the euro zone it makes absolute sense to be part of the currency union. Our currency has already pegged to the euro since 2002. We don't have an independent monetary policy. We are regulated by the European Central Bank in Frankfurt, but we are not able to reap all the profits. Our businesses want to save the transaction costs.

  Dalia Grybauskaite

  Independent, Cost, Unions

  Source: www.spiegel.de

  8 Copy quote

  Show source

• There's only one thing that all of the central banks control and that is the base, their own liability, and they can control that in various ways. They can control it directly by open market operations, buying and selling government securities or other assets, for example, buying and selling gold, or they can control it indirectly by altering the rate at which banks lend to one another.

  Milton Friedman

  Government, Gold, Way

  4 Copy quote

• The central banks cannot control interest rates. That's a mistake. They can control a particular rate, such as the Federal Funds rate, if they want to, but they can't control interest rates.

  Milton Friedman

  Mistake, Want, Interest

  11 Copy quote

• What central banks can control is a base and one way they can control the base is via manipulating a particular interest rate, such as a Federal Funds rate, the overnight rate at which banks lend to one another. But they use that control to control what happens to the quantity of money. There is no disagreement.

  Milton Friedman

  Way, Use, Interest

  4 Copy quote

• Central banks don't have divine wisdom. They try to do the best analysis they can and must be prepared to stand or fall by the quality of that analysis.

  Mary Kay Ash

  Fall, Divine Wisdom, Trying

  7 Copy quote

• The world's central banks and the International Monetary Fund still have vaults full of bullion, even though currencies are no longer backed by gold. Governments hold on to it as a kind of magic symbol, a way of reassuring people that their money is real.

  James Surowiecki

  Real, Government, People

  "Why Gold?". www.newyorker.com. November 29, 2004.

  7 Copy quote

  Show source

• Japan's experience suggests the importance of assessing the sustainability of price stability over a fairly long period, which many central banks have emphasized in recent years.

  Toshihiko Fukui

  Japan, Years, Long

  7 Copy quote

• It is clear to me that the financial sector, including CNBC, loves central banks

  Marc Faber

  Financial, Clear, Including

  8 Copy quote

• Quantitative easing is just the latest chapter in the Federal Reserve’s hundred-year history of failure. (...) The American people have suffered long enough under a monetary policy controlled by an unaccountable, secretive central bank. It is time to finally audit - and then end - the Fed.

  Ron Paul

  Years, Long, People

  5 Copy quote

• The Central Bank is constantly purchasing, purchasing and selling and vice versa - this is their job.

  Vladimir Putin

  Jobs, Vices, Selling

  Source: thesaker.is

  5 Copy quote

  Show source

• I've always believed that a speculative bubble need not lead to a recession, as long as interest rates are cut quickly enough to stimulate alternative investments. But I had to face the fact that speculative bubbles usually are followed by recessions. My excuse has been that this was because the policy makers moved too slowly - that central banks were typically too slow to cut interest rates in the face of a burst bubble, giving the downturn time to build up a lot of momentum.

  Paul Krugman

  Philosophy, Cutting, Long

  "Actually, Krugman Was A Huge Advocate Of The Housing Boom" by Joe Weisenthal, www.businessinsider.com. June 17, 2009.

  9 Copy quote

  Show source

• There's no denying that a collapse in stock prices today would pose serious macroeconomic challenges for the United States. Consumer spending would slow, and the U.S. economy would become less of a magnet for foreign investors. Economic growth, which in any case has recently been at unsustainable levels, would decline somewhat. History proves, however, that a smart central bank can protect the economy and the financial sector from the nastier side effects of a stock market collapse.

  Ben Bernanke

  Smart, Challenges, Growth

  "A Crash Course for Central Bankers" by Ben Bernanke, foreignpolicy.com. Novemeber 20, 2009.

  7 Copy quote

  Show source

• I know very well about the necessary level of reserves of the Central Bank as well as the purpose.

  Vladimir Putin

  Purpose, Levels, Wells

  Source: thesaker.is

  4 Copy quote

  Show source

• We are privileged that the dollar is the "currency of last resort" and the most important currency in the world. Global commodities are priced in dollars. Central banks in other countries hold great quantities of dollars. The dollar was the safe harbor, the port in the storm during the credit crisis.

  Kabir Sehgal

  Country, Important, Storm

  Source: bobmorris.biz

  6 Copy quote

  Show source

• We can tell the general public that the gold and foreign currency reserves of the Central Bank are not designed to finance the economy, but rather to ensure foreign trade turnover. Therefore, we need this level to be able to provide the necessary foreign trade turnover for such an economy as Russia's for a period of at least three months.

  Vladimir Putin

  Russia, Gold, Three

  Source: thesaker.is

  4 Copy quote

  Show source

• All issues - purchasing and selling of currency - are related to the regulation of the national currency market. However, it is still difficult to say what will be the reaction of the Central Bank and if it would lead to increasing the gold and foreign currency reserves.

  Vladimir Putin

  Issues, Gold, Regulation

  Source: thesaker.is

  6 Copy quote

  Show source

• In the current situation, particular attention should be given to the quality of financial and economic management. The Government and the Central Bank should have a strategic action plan

  Tatyana Golikova

  Government, Should Have, Quality

  4 Copy quote

• It is always and everywhere the province of the central bank to monetize any spending, the government's or the private sector's, by printing enough money to pay for it in depreciated dollars.

  Caroline Baum

  Government, Dollars, Pay

  4 Copy quote

• In the U.A.E. we were the least-regulated environment in the region, and over time we are seeing more and more regulation coming in. On the other hand, a central bank can overregulate and choke the economy, and then we will have a dead banking industry.

  Abdul Aziz Al Ghurair

  Hands, Banking, Regulation

  6 Copy quote

• In fact, some leaders come right out and say it. Mario Draghi the president of the European Central Bank had an interview with the Wall St Journal in which he said the social contract's dead; we finally got rid of it.

  Noam Chomsky

  Wall, Leader, President

  "Noam Chomsky on America's Economic Suicide". Interview with Laura Flanders / GRITtv, www.alternet.org. May 4, 2012.

  4 Copy quote

  Show source

• The problem is, if at all, in the different view of the economy, of economic growth. Growth is too low, even for us. That needs to change: More investments, a stronger role by the European Central Bank. Otherwise, there are no tensions between Italy and Germany. But on this point, compromises must be reached and we will reach them.

  Paolo Gentiloni

  Views, Growth, Stronger

  Source: www.spiegel.de

  4 Copy quote

  Show source

• The one instrument that has relative political autonomy is monetary policy. Central banks do not need to go to Congress to get approval for an interest rate hike.

  Mohamed El-Erian

  Political, Needs, Approval

  Source: www.pbs.org

  7 Copy quote

  Show source

• If we speak about fundamental things, regulation of the rate is actually the function of the main regulator, namely the function of the Central Bank. And it should think of how the economy and industry react, but also of its fundamental tasks in order to ensure the stability of the rate.

  Vladimir Putin

  Thinking, Order, Regulation

  Source: thesaker.is

  4 Copy quote

  Show source

• The stability of the rate is the main issue and the Central Bank manages to ensure it one way or another. This was finally achieved after the Central Bank switched to a floating national currency exchange rate.

  Vladimir Putin

  Issues, Floating, Way

  Source: thesaker.is

  4 Copy quote

  Show source