Monetary Policy
Testimony of Fed Chairman Alan Greenspan, 12 Sep
TESTIMONY - In testimony titled 'Current fiscal issues' to the US budget committee on Thursday Greenspan was downbeat suggesting that the most recent forecasts of Fed policymakers, released in July, would be "somewhat lower" if re-estimated today. He…
Speech by A Schilder, Nederlandsche Bank, 27 June
SPEECH - In the speech titled 'Social exclusion and the financial system' Schilder said that a financially stable economy and a solid banking system are key factors to allow better chances for social inclusion of the poor. If there is no such stability,…
IMF Global Financial Stability Report
REPORT - The International Monetary Fund on 12 September published its Global Financial Stability Report, Market Developments and Issues, September 2002. In the report the IMF said there were "signs of contagion" from Brazil to other emerging market bond…
Fiji central bank head concerned at worker loss
FIJI - The head of Fiji's central bank has expressed concern at the increasing number of skilled people leaving the country permanently.
BOJ considers easing credit further
JAPAN - The Bank of Japan is considering easing credit to give the economy a push before companies close their books for the half year ending this month, BOJ sources have said.
Ex-Trinidad central bank head is party candidate
TRINIDAD - Former central bank Governor Winston Dookeran will contest the 7 October general elections on a ticket of the main opposition United National Congress (UNC), amid mounting fears that violence may mar the campaign.
New currency to stabilise inflation in Afghanistan
AFGHANISTAN - The head of Da Afghanistan Bank, the central bank in Afghanistan, Anwar al-Haq Ahadi, announced in an interview that with the distribution of the new banknotes in Afghanistan it can be hoped inflation will be reduced.
Kazakh Nat Bank head rejects resignation rumours
KAZAKHSTAN - The chairman of the National Bank of Kazakhstan, Grigoriy Marchenko, has rejected rumours that he would soon resign.
Yugoslav central bank rejects devaluation talk
YUGOSLAVIA - Yugoslav National Bank governor Mladjan Dinkic on Thursday rejected all speculation about the devaluation of the national currency, the dinar, saying that it "will remain stable over the next 10 years until it is replaced by the euro after…
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.
IMF sees signs of Brazil contagion on bond market
US - The signs of bond market contagion from political uncertainty in Brazil developed in emerging bond markets in the second quarter of the year, according to an International Monetary Fund report published Thursday.
Federal Reserve Board - Beige Book, September 2002
REPORT - The Federal Reserve Beige Book released 11 September showed slow and uneven growth across the country, and that manufacturers, hit hard by the recession, continued to experience weak demand. Other findings included little job growth.
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 Release, 12 Sep
PRESS RELEASE - Monetary policy decisions, 12 September.
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…
Trinidad and Tobago reports slower economic growth
TRINIDAD - The central bank has reported a deceleration in economic growth so far this year, saying in its September report this was due to a contraction in the non-energy sectors.
Report claims the euro may cause skin allergy
SWITZERLAND - Euro coins give some people a skin rash and a group of Swiss scientists have just released their research findings as to why this happens.
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…