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Fed's Roseman on developments in payment systems
In testimony on 'Recent developments in the payments system' given on 20 April, Louise Roseman of the Federal Reserve said the payments system in the United States is continuing to change and become increasingly efficient. However, the shift away from…
Bundesbank's Meister on Basel II
In a speech on 'The supervisory implications of Basel II' given on 20 April, Edgar Meister of the Deutsche Bundesbank said that a common goal that finance ministries, central banks and supervisory authorities are sharing is to enhance the stability of…
A post-reflation monetary framework for Japan
Modifications to Japan's monetary policy framework will be needed as positive inflation resumes because the current monetary regime and operations are tailored to ending deflation, this IMF Working Paper says.
Norway's Bergo on business cycles, monetary policy
In a speech on 'Business cycles and monetary policy' given on 21 April, Jarle Bergo of Norges Bank said the Norwegian economy is growing at a solid pace and there are prospects that growth will remain high.
RBZ drawing up economic recovery plans
Reserve Bank of Zimbabwe governor, Dr Gideon Gono, said on Monday 25 April that the RBZ was drawing up an appropriate and effective response to the various challenges facing the country.
Tanigaki says economy still in moderate deflation
Japan is still in ``moderate deflation'' and policy makers should keep attempting to overcome it, Finance Minister Sadakazu Tanigaki said on Tuesday 26 April.
UK's Brown says IMF gold sales plan 'on the table'
British finance minister Gordon Brown said on Monday 25 April that his proposal to sell the International Monetary Fund's gold to finance debt relief for poor countries was still on the British agenda in spite of opposition from the US.
EU's Almunia says no ECB rate rise from French No
European Economic and Monetary Affairs Commissioner Joaquin Almunia said on Tuesday 26 April that the European Central Bank is unlikely to raise interest rates if France rejects the European Constitution in the May 29 referendum.
Russia and SARB hold first consultations
The Central Bank of Russia and the Reserve Bank of South Africa have held consultations in Pretoria, the first in the history of bilateral relations, the Russian central bank's foreign and public relations department stated.
European Central Bank - Annual Report 2004
The ECB published its Annual Report for the year ended 2004 on Tuesday. Lucas Papademos said there should not be any negative economic consequences from the loosening of the stability and growth pact's fiscal policy rules if the reformed pact is…
Fed's Ferguson on the US current account deficit
In the speech 'U.S. current account deficit: Causes and consequences' given on 20 April, Roger Ferguson of the Federal Reserve said that America's current account deficit does not mean the world economy is doomed because its root is likely the…
Trichet on the euro: One currency, one market
In a speechon 'The euro: one currency, one financial market' given on 19 April, Jean-Claude Trichet of the ECB said that inflation expectations for the dozen countries that use the euro are in line with the ECB's goal of keeping consumer price increases…
Does excess liquidity pose a threat in Japan?
This IMF Discussion Paper examines the effects of quantitative easing implemented by the Bank of Japan since early 2001, looking specifically at the impact on inflation expectations and real asset prices.
BOJ's Fukui on the bank's Semiannual Report
In a speech given on 31 March (published 22 April), Toshihiko Fukui of the Bank of Japan said that although Japan's economy is at a pause, it is expected to continue recovering with the further expansion of overseas economies and progress in adjustment…
PBOC's Zhou suggests faster yuan shift
Zhou Xiaochuan, governor of the People's Bank of China, said at the weekend that the government was still working on the "sequencing" of a potential move to a more flexible exchange rate but acknowledged that encouragement from abroad could result in a…
T&T launches improved website
The governor of the Central Bank of Trinidad and Tobago, Ewart Williams, has launched the bank's redesigned website, highlighting its improved functionality, data access, faster download capability, smoother navigation and printer- friendly versions.
Malaysia's reserves rise in first half of April
Bank Negara Malaysia said on Friday 22 April that its international reserves rose to RM276.7 billion (US$72.8 billion) as at 15 April 2005.
Fed's Fisher says tariffs hurt inflation fight
Imposing tariffs on imports to the United States would hurt consumers and hamper attempts to control inflation, the president of the Federal Reserve Bank of Dallas said in a column in The Wall Street Journal on Monday 25 April.
ECB's Tumpel-Gugerell on payment systems
In a speech on 'The need for regulatory involvement in the evolution of payment systems' given on 25 April Gertrude Tumpel-Gugerell of the ECB said euro zone banks are moving too slowly on the integration of payment systems, which would allow consumers…
Chicago Fed National Activity Index, Mar 2005
The Chicago Fed National Activity Index for March 2005 was +0.11, down from +0.22 in February. Three of the four broad categories of indicators that comprise the index made positive contributions last month, according to the CFNAI.
SARB Financial Stability Review, March 2005
The South African Reserve Bank has published the March 2005 edition of its Financial Stability Review. In its latest report the SARB says the resilience of the global financial system improved further during the second half of 2004, mainly as a result of…
Fed's Kohn on imbalances in the US economy
In a speech on 'Imbalances in the US economy' given on 22 April, Donald Kohn of the Federal Reserve said the central bank would likely keep pushing US interest rates up at a "measured pace" to keep inflation under control.
ECB assessment of securities settlement systems
The Governing Council of the European Central Bank updated the assessment of securities settlement systems (SSSs) eligible for the settlement of collateral for Eurosystem credit operations, on Thursday 21 April.
IMF paper on cb losses in selected countries
The IMF Working Paper "Central bank losses and experiences in selected countries" April 2005 says that under normal circumstances, a central bank should be able to operate at a profit with a core level of earnings derived from seigniorage. However,…