Monetary Policy
Fed holds rates steady but with rare split vote
US - The Federal Reserve on Tuesday held interest rates steady despite a hesitant economic recovery and worries about a possible war with Iraq. In an unusual move the meeting saw dissent, with two members calling for a rate reduction. This was the first…
Speech by Governor, State Bank of Pakistan, 10 Jun
SPEECH - In the speech titled 'Is State Bank of Pakistan doing its job?' Husain said since July 2001 Pakistan has been able to maintain stability in its exchange rate. Had the country not developed the cushion of reserves that it has, there was a strong…
Speech by T P Naranubala, Bank of Thailand, 28 Jun
SPEECH - In the speech titled 'Preparing for Rapid Growth' Naranubala said that this year we are seeing most South East Asian economies firmly back on the path of recovery. They are poised to regain their growth potentials. He adds that uckily, the…
Speech by Eugenio Domingo Solans, ECB, 17 Sep
SPEECH - Domingo Solans said in a speech titled 'European financial integration and stability' that the introduction of the euro has changed the terms of reference on which an appropriate solution for the best framework for banking regulation and…
Speech by Hermann Remsperger, Bundesbank, 23 Sep
SPEECH - In the speech titled 'Economic outlook and economic policy challenges for Germany' Remsperger said the planned enlargement of the European Union is certainly a challenge. The negotiations which are currently being conducted with 12 countries,…
Bank of Japan Monthly Report, September 2002
REPORT - The Bank of Japan published its Monthly Report of Recent Economic and Financial Developments, September 2002, on 20 September. In its report the Bank of Japan left its assessment of the Japanese economy unchanged for the second consecutive month…
Minutes of Japan's Monetary Policy Meeting
MINUTES - Minutes of the Bank of Japan's Monetary Policy Meeting on 8 and 9 August 2002, released 24 September. On the current state of Japan's economy, members concurred that despite persistent weakness in domestic demand and increasing uncertainty…
Speech by H Kohler, Managing Director, IMF, 19 Sep
SPEECH - In a speech titled 'Investing in Better Globalization' Kohler said the global economy has shown remarkable resilience in the face of multiple shocks over the past two years but that risks to the global economic outlook today are clearly tilted…
Business Survey Barometer August 2002
REPORT - The National Bank of Belgium's Business Survey Barometer for August 2002 stabilised in August after declining in the previous two months.
Reserve Bank's new target divides economists
ARTICLE - As widely expected, the policy targets agreement between the Government and new Reserve Bank Governor, Dr Alan Bollard, has been amended to require him to keep inflation in a 1 to 3 per cent band "on average over the medium term".
JGBs up as BoJ buying prompts short-covering
JAPAN - Japanese government bonds rebounded on Tuesday amid bargain-hunting following last week's tumble and as sentiment improved following a successful bond-buying operation by the central bank.
Germany 'at risk of breaching deficit limit'
GERMANY - The Bundesbank yesterday warned that Germany was at risk of breaching the European Union's 3 per cent deficit limit this year and cast doubt on its chances of balancing its budget by 2004.
Thai central bank puts loans case to Basel panel
THAILAND - The Bank of Thailand has asked member countries of BIS Basel Committee to curtail loans to hedge funds, according to Thirachai Phuvanatnaranubala, the central bank's deputy governor overseeing stability of financial institutions.
Poverty too high says head of Trinidad's c bank
TRINIDAD - The governor of the Central Bank of Trinidad and Tobago, Ewart Williams, says while the country has experienced economic growth over the last eight years, not enough had been done to improve the quality of life for its citizens.
UK Treasury Press Release
PRESS RELEASE - Chancellor and Sir Edward George pledge more money for Commonwealth Education Fund, 24 September. Chancellor Gordon Brown, and Governor of the Bank of England Sir Edward George, today announced the auction of low-numbered £5 banknotes,…
CentralBankNet Monday Special Feature
Each Monday in future CentralBankNet will run a special feature on a subject of topical interest. This week we look at the issues raised by Bill McDonough's recent speech deploring the excesses of US executive pay and ask: Is it the job of a central…
Speech by M R P Devakula, Bank of Thailand, 6 Mar
SPEECH - In the speech titled 'Outlook for 2002 and the Road Ahead' Devakula said we enter the year 2002 with more confidence. The Thai economy had most assuredly bottomed out last year. The latest released January economic figures point to more strength…
Bank of England Quarterly Bulletin Autumn 2002
REPORT - Of particular interest in the Autumn Quarterly Bulletin, released Monday, are the articles 'Committees versus individuals: an experimental analysis of monetary policy decision-making' where a simple experiment with students apparently confirmed…
Speech by Edward George, Bank of England, 20 Sep
SPEECH - In the speech George described the recent volatility of international stock markets as "hugely frustrating" and said that it was "very difficult to predict" whether the advantages of membership of the euro outweighed the risks for Britain's…
Customer due diligence for banks
REPORT - Customer due diligence: a new level of commitment among bank supervisors. Basel Committee Publications, 19 September 2002.
12th Int'l Conference of Banking Supervisors
PRESS RELEASE - Representatives of about 150 banking supervisory authorities from nearly 120 countries met in Cape Town on 18 and 19 September 2002. They were participating in the 12th International Conference of Banking Supervisors (ICBS) held at the…
Mexico central bank set to shore up currency
MEXICO - The Mexican central bank is expected to tighten monetary policy on Monday to shore up support for the peso, which fell 3.5 per cent last week.
Croatian, Indonesian central banks sign agreement
CROATIA - The HINA news agency in Zagreb reported on Monday that an agreement on understanding and cooperation between the Croatian and Indonesian central banks was signed at the Croatian National Bank on Monday during the visit of a delegation of Bank…
Hungary: Central bank rejects PM's plea on rates
HUNGARY - Zsigmond Jarai has said that the current rate of interest is appropriate.