Monetary Policy
Brazil sees Sept current account surplus of $1 bln
BRAZIL - Brazil's central bank on Thursday forecast a current account balance of payments surplus of $1 billion in September.
New deadline for balanced budgets splits euro club
FRANCE - A proposal by Brussels to allow euro-zone states more time to balance their budgets has blown up into a big row between EU countries that have been making sacrifices and four members -- France, Germany, Italy and Portugal -- that were falling…
IMF calls for boost to global confidence
US - International Monetary Fund Managing Director Horst Koehler said on Thursday that global growth had been hurt by financial market uncertainty and called on world financial leaders to do their bit to restore calm.
Speech by Governor, State Bank of Pakistan, 1 May
SPEECH - In the speech titled 'Economic Reforms and Macroeconomic Management in Pakistan (1999-2001)' Husain said the strategy for economic revival Pakistan pursued since December 1999 was designed to include four key elements, restoration of…
Speech by Fed Chairman Alan Greenspan, 25 Sep
SPEECH - In the speech titled 'Policy Coordination' Greenspan reflected on the historic association between the Bank of England and the Federal Reserve with ties cemented in the 1920's. Greenspan said that London has stayed on top in the provision of…
Federal Reserve Board Press Release
PRESS RELEASE - The Federal Open Market Committee decided today to keep its target for the federal funds rate unchanged at 1 3/4 percent, 24 September.
Argentina threatens loan default
ARGENTINA - Argentina has raised the pressure on international lenders to agree a new cash lifeline, threatening default if extra money is not forthcoming.
IMF report sees global economy recovering
US - Although downside risks are rising, the global economy is slowly recovering from a worldwide recession, the International Monetary Fund said Wednesday.
Poland's central bank cuts rates
POLAND - Poland's central bank on Wednesday reduced its key interest rates by a half percentage point, making its sixth cut this year against the backdrop of a sluggish economy and falling inflation.
Central Bank of Iceland Governor resigns
ICELAND - Central Bank of Iceland Governor Finnur Ingolfsson has been appointed Chief Executive Officer of the insurance company VS Ltd and has resigned as Governor of the Central Bank of Iceland.
Polish gov't freezes top state officials salaries
POLAND - The government decided to freeze salaries of top state officials in 2003, government spokesman Michal Tober told a news conference on Tuesday. The freeze includes all senior central bank staff.
Honour Greenspan and Lady Prudence
ARTICLE - When the Queen knights Alan Greenspan tomorrow at Balmoral it will raise profound questions for the world's other central bankers, reported the London edition of the FT on Wednesday in an article.
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.