Monetary Policy
Polish central bank wants Poland in euro zone 2006
POLAND - The Polish National Bank (NBP) wants Poland to join the euro zone in 2006, but does not rule out that the entry will take a year later, PAP News Agency reported NBP Deputy Governor Andrzej Bratkowski as saying on Tuesday.
Credit cards post huge growth in Thailand
THAILAND - The credit-card market is expected to grow by at least 40% next year, following estimated expansion of about 45% this year, Wanvimol Kanoktanaporn, a senior vice-president at the Bank of Asia, said yesterday.
Turkmen c bank issues gold and silver coins
TURKMENISTAN - The Central Bank of Turkmenistan has issued a set of memorial gold and silver coins, devoted to the parents of Turkmen President Saparmyrat Nyyazow, Turkmen TV first channel reported.
Speech by Fed Chairman Alan Greenspan, 7 Oct
SPEECH - In a speech on 'The continued strength of the U.S. banking system' Greenspan explores the apparent incongruity between this and the recent substantial losses on corporate credits. He sums up on a cautious but positive note: 'Success, indeed…
Speech by M Moskow, President, Chicago Fed, 3 Oct
SPEECH - Moskow said in a speech on 'The Economy and Expanded Trade' that the last 20 years has brought deregulated financial markets, developed more flexible labor markets and made major advances in technology for the U.S. economy. Moskow concluded that…
Testimony of Wim Duisenberg, ECB President, 8 Oct
SPEECH - In testimony before the EU Parliament Duisenberg stressed that structural reforms are required so that the full benefits of the introduction of the euro can be reaped. Given the environment of subdued economic growth, Duisenberg was of the…
Nikkei plunges on Takenaka's remarks
JAPAN - Stocks hit their lowest level since 1983 after Japan's finance minister said no bank is too big to fail. Investors, fearing a wave of corporate bankruptcies under the government's bad-loan solution, drove Tokyo share prices to another 19-year low…
BOJ's Hayami- Utmost being done on monetary policy
JAPAN - Governor of the Bank of Japan Masaru Hayami said on Monday that the central bank is doing its utmost to ease credit conditions.
Gulf bank governors meet today in al-Riyadh
SAUDI ARABIA - The governors of monetary establishments and central bank in the Gulf Cooperation Council (GCC) states today discuss in Riyadh necessary criterion to provide a success for the monetary federation among their respective states.
SARB-South Africa's inflation outlook has improved
SOUTH AFRICA - Central bank governor Tito Mboweni sent a strong signal on Tuesday that interest rates may not rise again in November, saying the country's inflation outlook had improved "significantly".
BOK likely to raise call rate: Deutsche Bank
KOREA - Deutsche Bank yesterday forecast the Korean central bank will increase the overnight call rate by 25 basis points to 4.50 percent at its Monetary Policy Committee meeting slated for tomorrow.
US banks 'quite healthy' - Fed's Greenspan
US - Consumers and home owners helped the US banking system absorb bad business loans and remain 'quite healthy,' Federal Reserve chairman Alan Greenspan said.
Economy improving, O'Neill tells bankers
US - The U.S. economy is likely grew at least 3 percent during the third quarter and will show slightly more robust performance in the current quarter and beyond, Treasury Secretary Paul O'Neill predicted in Phoenix on Monday.
Chinese central bankers in visit to Taiwan
TAIWAN - A China central bank delegation heading to Taiwan may include the highest-level official yet to visit the island as Taiwan banks prepare to open their first offices across the strait, the Taipei Times said.
Afghan bank governor wants aid to be productive
INTERVIEW - Afghanistan's U.S.-educated central bank head says he wants to see the war-ravaged country standing on its own feet economically within four to five years. In an interview given to Reuters at the weekend he also revealed he has two full time…
Brazil central bank moves to prop up currency
BRAZIL - Brazil's Central Bank on Monday made it more expensive for banks to hold foreign currency and gold assets in hopes of propping up its own local currency, the real.
Chicago Fed Letter, November 2002
PUBLICATION - The November 2002 issue of the Chicago Fed Letter is titled 'A regional perspective on the U.S. business cycle'. It is not difficult to come up with a definition of the business cycle that most of us would understand. A thornier issue is…
Bank of England News Release
NEWS RELEASE - Bank of England Meetings in Manchester and Liverpool, 7 October.
Bank of Japan Discussion Paper
RESEARCH - 'Monetary and Fiscal Policy in the European Monetary Union' by Juergen von Hagen and Matthias Brueckner - The introductory phase of the European Monetary Union ended with the emission of euro currency in 2002. This paper presents a review of…
New appointments at the Riksbank
PRESS RELEASE - At its meeting on 3 October, the Executive Board of the Riksbank decided to appoint the Head of the Monetary Policy Department Claes Berg advisor to the future Governor Lars Heikensten with effect from 1 January 2003.
The Regional Economist, October 2002
PUBLICATION - The Quarterly Review of Business and Economic Conditions, The Regional Economist, edition from the St Louis Fed contains an article 'Story Time at the FOMC'. Formal data don't tell policy-makers everything they need to know about the…
Federal Reserve Bulletin - October 2002
REPORT - Article by Brian M. Doyle and Jon Faust titled 'An Investigation of Co-movements among the Growth Rates of the G-7 Countries'.
CentralBankNet Monday Special Feature
SPECIAL FEATURE - In this weeks special feature CentralBankNet looks at the issue of asset price bubbles. Central bankers have come under some criticism recently for a failure to control such 'irrational exuberance', but hit back that it's not their job…
Speech by David Dodge, Bank of Canada, 5 Oct
SPEECH - In a speech on 'Dollarization and North American Integration', Dodge discusses the benefits and costs of a floating exchange rate versus dollarization, given the current conditions, and the implications for the floating exchange rate should the…