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EU issues Italy with budget deadline
On Wednesday 29 June the European Union gave Italy until the end of 2007 to cut its budget deficit. It gave the country two years instead of just one to bring the deficit back in line due to weakness in Italy's economy.
Dodge calls for G8 focus on imbalances
Bank of Canada governor David Dodge urged the Group of Eight to focus more on imbalances affecting global prosperity than on Africa and climate change.
ECB's Bini Smaghi says rates at historical lows
European Central Bank board member Lorenzo Bini Smaghi was reported in La Repubblica newspaper as saying that the ECB's interest rates are at historical lows.
Canada's Dodge on the international monetary order
In the speech 'The international monetary order and the Canadian economy' given on 28 June, David Dodge of the Bank of Canada said that while imbalances in global savings and investment flows are an international problem, policy-makers can help resolve…
SARB's Quarterly Bulletin, June 2005
The South African Reserve Bank released its June 2005 Quarterly Bulletin on 23 June. In the Bulletin the SARB said firm increases in economic activity in recent quarters have improved employment prospects materially.
Kansas Fed's Hoenig on the US economic outlook
In the speech 'The US economic outlook and monetary policy: Under an inflation watch?' given on 16 June Thomas Hoenig of the Federal Reserve Bank of Kansas City said the Fed could slow down its policy action if the economy weakened but speed up if growth…
ECB's Trichet on monetary policy in EMU
In the speech 'Monetary policy in EMU - views and challenges' given on 24 June Jean-Claude Trichet of the ECB said slow growth rates in some euro zone countries may reflect poor competitiveness and economic rigidities, rather than the normal divergences…
Does world need a universal financial institution?
This Working Paper asks whether the International Monetary Fund is an appropriate model for a world where macroeconomic imbalances, financial crises, and disparities in economic development must compete for attention and resources?
Southern Africa could have common central bank
The Common Monetary Area, Southern Africa's 30-year-old monetary union, could have its own central bank within five years, the governor of the Central Bank of Swaziland, Martin Dlamini, told CentralBankNet.
Papademos says rate correct despite oil price high
European Central Bank Vice President Lucas Papademos said eurozone interest rates are "appropriate," even as the price of oil reaches record levels.
Snow says energy prices hurting US economy
Record high oil prices are beginning to take their toll on the U.S. economy, but not enough to halt or reverse the recovery, U.S. Treasury Secretary John Snow said on Tuesday 28 June.
Interest rates to stay 'relatively low' says Zhou
People's Bank of China Governor Zhou Xiaochuan said in an interview the country will keep interest rates "relatively low" to help boost consumer spending and eliminate a trade surplus that has led to tensions with Europe and the US.
Redrado says Argentina needs to reach IMF deal
Argentina's central bank governor Martin Redrado said on Sunday 26 June that it is important for the country to reach a loan accord with the International Monetary Fund to repay debt.
BIS conference on cb cooperation
The BIS is holding a conference: "Past and future of central bank cooperation", celebrating 75 years of the Bank for International Settlements, 1930 - 2005 in Basel 27-29 June.
Central bank transparency under model uncertainty
This Federal Reserve Bank of New York Staff Report explores the effects of central bank transparency on the performance of optimal inflation targeting rules.
Danmarks Nationalbank, Monetary Review 2nd Q 2005
The Danmarks Nationalbank's Monetary Review for the Second Quarter 2005 includes articles on: Recent economic and monetary trends, Memorandum of understanding on financial supervision, Capital flows and the exchange rate of the krone, The German labour…
Dallas Fed's Fisher on trade
In the speech given on 14 June Richard Fisher of the Federal Reserve Bank of Dallas said trade with China is helping raise our productivity and lower our prices.
ECB's Trichet on international financial system
In the speech 'Reflections on the international financial system' given on 21 June, Jean-Claude Trichet of the ECB said that the widening current account deficit in the United States posed a big threat to global growth.
Nobel winner says China growth may be understated
Nobel Prize laureate Robert Fogel said he is optimistic about China's sustained economic growth, predicting at least 8% growth for the next 35 years.
ECB's Mersch sees no reason to alter rates
Current European Central Bank interest rates are appropriate, ECB Governing Council member Yves Mersch said in an interview published on Monday 27 June.
Gonzalez Paramo says ECB rates right for now
Current eurozone interest rates are 'adequate' and 'appropriate,' European Central Bank board member Jose Manuel Gonzalez Paramo told La Gaceta de los Negocios in an interview.
BOJ's Haru says monetary policy may change
Bank of Japan policy board member Hidehiko Haru said in a speech the central bank may see the possibility of ending its quantitative monetary policy easing in the year to March 2007.
Malaysia to maintain low rates despite oil price
Bank Negara Malaysia may keep interest rates low, even though global oil prices continue to remain high, national news agency Bernama reported, quoting the central bank's governor Zeti Akhtar Aziz.
BIS's Wellink at the 75th Annual General Meeting
In a speech at the 75th Annual General Meeting of the BIS on Monday 27 June, Chairman of the Board of Directors and BIS President Nout Wellink said with world growth at almost 5%, 2004 was the best year in nearly three decades, with emerging market…