Monetary Policy

South Africa raises interest rate

SOUTH AFRICA - The South African Reserve Bank on Thursday made a one percentage point increase in the country's prime interest rates in an effort to force inflation below 6 per cent.

Speech by Cathy Minehan, Boston Fed Bank, 9 Sep

SPEECH - In a speech Minehan said U.S. interest rates are low enough to stimulate the economy and bolster consumer spending in a "slow" recovery from recession. "This recovery will stay the course, however bumpy that might be right now," Minehan said to…

Speech by H Kohler, Managing Director, IMF, 10 Sep

SPEECH - In a speech titled 'Japan and the IMF - 50 Years of Economic Progress and International Leadership' Kohler said there are welcome signs that Japan may at last be emerging from recession. But the consensus among forecasters is that the recovery…

Speech by H Kohler, Managing Director, IMF, 10 Sep

SPEECH - Opening Remarks for a Press Conference on Japan by Horst Kohler, Managing Director, International Monetary Fund, Imperial Hotel, Tokyo, 10 September. Symposium to Commemorate the 50th Anniversary of Japan's Membership in the International…

Deutsche Bundesbank Monthly Report, August 2002

REPORT - Germany's central bank, on 11 September published its Monthly Report for August 2002. The Bundesbank finds that although the global economic recovery continued at a moderate pace in the second quarter, the outlook for the coming months has…

ECB Press Conference, 12 Sep

PRESS CONFERENCE - Introductory statement by Willem F. Duisenberg, President of the European Central Bank, Lucas Papademos, Vice-President of the European Central Bank, Frankfurt, 12 September 2002. At today's meeting Duisenberg said the Governing…

Exports provide a boost to Japanese economy

JAPAN - The Japanese government on Wednesday confirmed that the country emerged from a year of economic recession in the April-June period by making a slight upward revision to second-quarter gross domestic product figures.

Greenspan says U.S. weathered several blows

US - Federal Reserve Chairman Alan Greenspan told Congress on Thursday that a year after the terrorist attacks, the U.S. economy appears to have done a good job of withstanding a series of severe blows, "although the depressing effects still linger."

Fed's beige book confirms US economy sluggish

US - The Federal Reserve's beige book published Wednesday offered support from the central bank's districts that the economy is in a lacklustre phase of recovery, and may imply no change in interest rates at the Fed's next policy meeting.

Articles from the Federal Reserve Bulletin

PUBLICATION - Retail Fees of Depository Institutions, 1997-2001, by Timothy H. Hannan in the Federal Reserve Bulletin, September 2002. Since 1990, the Federal Reserve Board has reported annually on changes in the availability of retail banking services…

Speech by M Moskow, President, Chicago Fed, 9 Sep

SPEECH - In a speech titled 'Open Markets and Expanded Trade' Moskow said "the road to recovery is turning out to be bumpy". He also said that "the Fed cannot, and should not, try to smooth out every bump. Monetary policy is simply not capable of doing…

Venezuelan central bank rejects gov't criticism

VENEZUELA - The Central Bank of Venezuela (BCV) has said that it will continue its monetary policy despite criticism from the government and warned about the negative consequences a confrontation of positions would have on the exchange market.

Speech by U Backstrom of Sveriges Riksbank, 5 Sep

SPEECH - In the speech titled 'In the wake of financial turmoil' Backstrom said that the events to do with WorldCom and Enron are a part of a broader context and are directly connected with the recent years' stock-market bubble. But at a deeper level he…

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