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Russia's euro reserves increase
The euro now accounts for one third of Russia's foreign currency reserves, a top official from Russia's central bank said on Tuesday 8 February.
ECB's TARGET2 Progress Report
The ECB published a progress report on TARGET2 on 8 February. The report considers three main issues - service, pricing and migration to TARGET2. These issues were decided upon by the Governing Council on 16 December 2004.
Spain's Caruana on the implementation of Basel II
In a speech given on 18 January to the European Parliament Jaime Caruana of the Bank of Spain outlines the reasons why Basel II matters so much and how it will support the continued safety and soundness of the banking system.
Deutsche Bundesbank Monthly Report, December 2004
The Deutsche Bundesbank's December 2004 Monthly Report said growth in the German economy faltered in the third quarter of 2004.
Fed's Bies: Behind the scenes at the FOMC
In a speech 'Behind the scenes at the FOMC: How the Federal Reserve determines monetary policy' given on 7 February, Susan Schmidt Bies of the Federal Reserve said interest rate policy may need to be more accommodative than expected to ensure the economy…
BoF's Noyer says French GDP forecast plausible
In an interview on Monday 7 February, Bank of France governor Christian Noyer said the government's 2.5 per cent forecast for GDP growth in 2005 is plausible, although economists have suggested the figure is too optimistic.
Is the IMF's mandate still relevant?
In an article published on 1 February IMF Managing Director Rodrigo de Rato said that although the world has changed dramatically since the Bretton Woods Agreement of 1944, the IMF's role remains as vital as ever.
IMF's gold to help relieve Third World debt?
Gold prices struggled to hold key support in Europe on Monday 7 February following confusion over what the IMF might do with its huge gold reserves to help relieve Third World debt.
PBOC chief Zhou says China on track to reform
China is very much on the track toward an exchange rate reform in response to the demand of the world's richest nations for a more flexible exchange regime, China's central bank chief told Xinhua News in an interview.
G7 calls for increased exchange rate flexibility
G7 finance ministers and central bank governors have called for more flexibility in international exchange rates and warned that excess volatility would restrict global growth.
Juncker says stability pact changes to be limited
Euro group president Jean-Claude Juncker said at the weekend that reform of the EU stability pact will be limited and will not harm economic stability.
Fed's Gramlich says US should raise saving rate
Speaking on Monday 7 February, Federal Reserve Board Governor Edward Gramlich said that while the US economy was doing well, he was troubled by the nation's low saving rate.
Book review - Samuel Brittan's 'Against the flow'
Samuel Brittan has been one of the Financial Times' leading columnists for nearly thirty years. This recently published book collects together the most important of his writings from the last three decades.
IMF paper on currency crises
This IMF Working Paper tests the implications of a number of theoretical models that attempt to highlight the dynamics behind currency crises. The empirical findings provide support for the view that a deterioration in economic fundamentals and the…
RBA Statement on Monetary Policy, February 2005
The Reserve Bank of Australia published its February 2005 Statement on Monetary Policy on 7 February. After a strong year in 2004 the world economy retains momentum, with growth continuing to be led by the United States and China, the report says.
Fed's Greenspan on Adam Smith
In a speech titled 'Adam Smith' given on 6 February Alan Greenspan of the Federal Reserve said that 18th-century philosopher Adam Smith was "a towering contributor to the development of the modern world."
SNB's Blattner on the new banknotes project
In a speech on Switzerland's new banknotes project given on 2 February, Niklaus Blattner of the Swiss National Bank said this step has become necessary because of the development of new technologies and the typically high demands on the design quality of…
Deal for Africa seen in jeopardy
Speaking on Friday 4 February US Treasury Under Secretary appeared to reject a plan to create an International Finance Facility to raise $100 billion a year for African nations.
G7 set to discuss yuan exchange rate
A French official said on Friday 4 February the G7 meeting in London will "evidently address" the question of the Chinese yuan's exchange rate.
Tanigaki says G7 statement likely unchanged
Japanese Finance Minister Sadakazu Tanigaki said the tone of the communique to be issued at the Group of Seven meeting of finance ministers and central bank governors will likely be little changed from last year's, Jiji Press reported.
Greenspan to testify on Social Security 15 March
Federal Reserve Chairman Alan Greenspan will testify on Social Security on March 15 at 10 a.m. EST (1500 GMT) before the Senate Special Committee on Aging, the panel said on Thursday 3 February.
BoE's King on the International Monetary System
In a speech on 'The International Monetary System' given on 4 February, Mervyn King of the Bank of England urged members of the Group of Seven industrial nations to agree "on the nature of the risk" and collaborate with China and India to rebalance…
Fed's Greenspan on the current account
In a speech on 'Current account' given on 4 February, Alan Greenspan of the Federal Reserve said the dollar's decline and fiscal restraint by the US government may soon begin to reduce the US current account deficit, which stood at a record in the third…
New York Fed's Foreign Exchange Operations report
The Federal Reserve Bank of New York said on Thursday 3 February in its quarterly report to the US Congress that the US monetary authorities did not intervene in the foreign exchange markets during the October - December 2004 quarter.