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Bank of Canada Financial System Review, Dec 2004
The Bank of Canada published its semi-annual Financial System Review on 9 December. The report says continued strong global economic growth has reduced financial vulnerabilities in Canada and elsewhere. Higher oil prices have, however, raised questions…
Election to the Danmarks Nationalbank Board
The Board of Directors of Danmarks Nationalbank has elected Mr Niels Due Jensen, Group Chairman, to the Board of Directors of Danmarks Nationalbank, replacing Mr Bent le Fevre, General Manager, for the remainder of the term ending on 31 March 2009.
Philadelphia Fed announces promotion
The Federal Reserve Bank of Philadelphia announced the promotion of John D. Ackley to Treasury Services Officer on Wednesday. Ackley was a manager in the Treasury Services Department.
Interview with ECB's Gonzalez-Paramo
Jose Manuel Gonzalez-Paramo, member of the Executive Board of the European Central Bank, gave an interview this week to Il Sole 24 Ore. In the interview he said the Greek case [where the deficit has clearly been larger than that reported] speaks for…
Interview with ECB's Issing
In an interview with Slovenian daily newspaper Delo published this week, European Central Bank chief economist Prof. Otmar Issing said the US twin current account and budget deficits are unsustainable and the US is well aware of this. He reiterated ECB…
New York Fed names new director of research
Joseph S. Tracy was named executive vice president and director of research of the Federal Reserve Bank of New York on Monday 6 December.
Change in the members of the Bank Board of the NBS
A change in the membership of the Bank Board of the National Bank of Slovakia has become effective from 1 December. The four-year term of Professor Jozef Kosnar came to an end on 30 November. The NBS said in a press release he would be succeeded by…
Japan's Koizumi says rapid dollar fall unwelcome
Japanese Prime Minister Junichiro Koizumi said on Thursday 9 December at a press conference that he does not welcome a rapid fall in the US dollar but is also against resorting too much to market intervention.
Taiwan central bank to establish TIBOR system
As part of its efforts to develop Taiwan into a regional financial centre, the Central Bank of China will move to revitalize the trading of various terms of interbank loans and establish Taipei Interbank Offered Rate (TIBOR), China Economic News Service…
Fed report: Banks and lenders can solicit business
The Federal Reserve said in a report published on Wednesday 8 December that consumers would suffer and pay higher prices if Congress curtailed the ability of banks and lenders to send them solicitations.
World Bank says Chinese economy not over-heating
Chief of the economics unit of the World Bank's Beijing office, Bert Hofman denied that the Chinese economy is overheating, saying that he expects 9.2 per cent to 9.3 per cent growth for China, "which is by and large a good thing."
ECB Monthly Bulletin, December 2004
The European Central Bank published its December 2004 Monthly Bulletin on Thursday 9 December, saying the outlook for inflation in the eurozone is "worrisome" after a 33 percent appreciation in the price of oil over the past year.
Sweden leaves repo rate unchanged at 2 per cent
At its meeting on Wednesday, 8 December, the Executive Board of the Sveriges Riksbank decided to leave the repo rate unchanged at 2 per cent.
RBNZ Monetary Policy Statement, December 2004
Speaking at the release of the Reserve Bank of New Zealand's December 2004 Monetary Policy Statement on Thursday 9 December, RBNZ Governor Alan Bollard said "As indicated in our October Review, we continue to expect that the current policy position will…
Hungary to publish Monetary Council minutes
On Monday 6 December the Monetary Council of the National Bank of Hungary decided, after a six month trial, to publish abridged minutes of its regular rate-setting meetings in future. This summary presents the arguments and experiences supporting the…
State Street on the dollar
John Nugee of State Street Global Advisors, formerly of the Bank of England, has today released an analysis of the dollar problem. The paper argues that the main effect of the dollar weakness on central banks' willingness to hold dollars may be felt not…
Korea's financial watchdog to get Beijing office
South Korea's top financial watchdog will open an office in Beijing by January next year, the Financial Supervisory Service (FSS) said on Wednesday 8 December.
Mboweni prefers 'competitively' priced ex rate
Addressing the annual dinner in honour of the ambassadors and high commissioners to South Africa, Tito Mboweni said: "We neither prefer a weak rand nor an overvalued exchange rate. We prefer a competitively priced exchange rate."
CBR's Ignatyev says gold/ fx reserves may change
Changes in the structure of gold and foreign exchange reserves are possible, Russian central bank Chairman Sergei Ignatyev said in the State Duma.
ECB's Issing reassures on eurozone growth
The European Central Bank's chief economist Otmar Issing insisted in an interview published on Wednesday 8 December, that Eurozone growth would recover from its current lull next year.
Tanenaka says view of Japan's economy not changed
After the Japanese government revised the country's third-quarter gross domestic product, Economic and Fiscal Policy Minister Heizo Takenaka said Japan hasn't changed its view that the economy is recovering.
Fed's Bies on factors in risk management
In the speech 'It's not just about the models: Recognizing the importance of qualitative factors in an effective risk-management process' given on 7 December, Susan Bies of the Federal Reserve said mathematical investment models are not enough on their…
Bank of Canada, Business Outlook Survey, Autumn 04
The Bank of Canada's Autumn 2004 Business Outlook Survey reports that businesses remain essentially as optimistic about the economic outlook as they were in the summer survey. Although they have marked down their growth forecast for the US economy,…
Sveriges Riksbank, Financial Stability Report 2:04
Sweden's central bank, the Sveriges Riksbank, published its second Financial Stability Report for 2004 on 2 December. Household sector indebtedness has continued to rise during the autumn. At the same time there are currently no indications that this…