Central Banking staff
Follow Central Banking
Articles by Central Banking staff
Philadelphia Fed Business Outlook Survey, Nov 2004
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, November 2004, activity in the region's manufacturing sector continues to expand. Manufacturing executives are more optimistic than they were last month about future…
ECB decides not to issue €1 or €2 banknotes
The Governing Council of the ECB decided not to introduce very low denomination euro banknotes. In a press release Thursday 18 November it concluded that the negative aspects of introducing very low denomination banknotes outweigh the positive aspects.
Meirelles's ministerial status 'unconstitutional'
Brazil's state prosecutor, Claudio Fonteles, was quoted by AFX as saying that the presidential decree to grant the president of the central bank Henrique Meirelles cabinet minister status was unconstitutional.
No decision made on ECB's new premises
The Governing Council of the European Central Bank said on Thursday 18 November that it will continue its deliberations on the new ECB premises.
ECB appoints new Director General Research
The Executive Board of the European Central Bank has appointed Mrs Lucrezia Reichlin, Professor of Economics at the Universite Libre de Bruxelles, Belgium, as Director General Research at the European Central Bank from 15 February 2005.
Denmark promotes Assistant Head of Division
Danmarks Nationalbank's Committee of Directors announced on 16 November that it has appointed Kristian Kjeldsen, Assistant Head of Division, to Head of Division.
RBNZ seeks Economics Department leader
The Reserve Bank of New Zealand said this week that it was looking for a self-motivated people manager to join the Bank's Economics Department to lead the Research team.
Fed's Gramlich urges cuts to US deficits
Federal Reserve Governor Edward Gramlich said in a speech the U.S. twin deficits should be cut soon because fiscal remedies will become tougher when the retirement of the baby boom generation strains public finances.
Euro and oil pose risk to outlook says Hurley
"The balance of risks to growth are now clearly to the downside," said Hurley, 59, in an interview in Dublin. "We're disappointed that growth, particularly in the euro area, is not as strong as we would have wished. "Sudden movements" in exchange rates …
NBU expected to introduce inflation targeting 2006
The National Bank of Ukraine is expecting to introduce inflation targeting in 2006, according to NBU Acting Governor Arseniy Yatseniuk, speaking to journalists.
Hungarian PM calls for central bank rate cut
Hungarian Prime Minister Ferenc Gyurcsany was quoted as saying on Thursday 18 November that he wanted the Hungarian central bank to cut interest rates to help the wider economy.
Toronto delegation visits European Central Bank
A delegation comprised of Deputy Mayor Joe Pantalone and Toronto business people visited the European Central Bank (ECB) on Wednesday 17 November.
Brouwer on financial integration in the EU
In a speech on 'Financial integration in the EU - some food for thought' given on 5 November, Henk Brouwer of the De Nederlandsche Bank said there has been substantial progress in financial integration in the EU, thanks to efforts by the Commission, the…
Gonzalez-Paramo on fiscal & monetary policy in EMU
In a speech on 'Fiscal and monetary policy in EMU' given on 11 November, Jose Manuel Gonzalez-Paramo of the ECB said that unlike most central bankers around the world today, and throughout history, European central bankers' point of reference is no…
Minutes of the FOMC meeting 21 September
Minutes from the Federal Reserve's 21 September FOMC meeting released on 12 November revealed that the policy-setting panel spent part of the meeting discussing the implications of the United States' massive trade gap.
Santomero on prospects for the U.S. economy for 05
In a speech on 'Prospects for the U.S. economy for 2005' given on 16 November, Anthony Santomero of the Federal Reserve Bank of Philadelphia said the U.S. economy is on course for a sustained period of moderate economic growth with low inflation.
Sweden's Rosenberg on economic outlook:
In the speech 'Economic outlook is changed' given on 17 November, Irma Rosenberg of the Sveriges Riksbank said that labour market developments will continue to be weak and there are still no clear signs of a turnaround. The continuation of favourable…
South Korea's reserves hit new high
South Korea's foreign reserves rose to a new high in mid-November, helped by an increase in the dollar-conversion value of non-dollar assets, the Bank of Korea said Wednesday.
Fukui confident on China slowdown
Toshihiko Fukui, Governor of Bank of Japan expressed confidence about the prospects of both a soft landing of China's economy and the fast growth of the US economy.
PBoC's Zhou says policy to favour stability in 05
China's monetary policy will lean towards stability next year, Zhou Xiaochuan, governor of the People's Bank of China, was quoted as saying in the China Securities Journal.
Pianalto: Fed will monitor oil, act appropriately
The US Federal Reserve will take the steps needed to prevent a spike in energy prices from becoming entrenched in inflation, Cleveland Fed president Sandra Pianalto said on Wednesday 17 November.
Bank of Canada issues new $50 banknote
The Bank of Canada put into circulation Canada's new $50 banknote on Wednesday 17 November. The new note will be distributed and become available across the country over the next few weeks.
Bank of England MPC Minutes, 3&4 November
The minutes from the 3 and 4 November meeting of the Monetary Policy Committee of the Bank of England were released on 17 November. The minutes showed that policymakers preparing their quarterly forecasts saw growth near trend and inflation on course to…
Chicago's Moskow on labor markets &energy prices
In a speech on 'Labor markets, energy prices, and the outlook for 2005' given on 16 November, Michael Moskow of the Federal Reserve Bank of Chicago said that today, rather than heading toward a soft landing, the economy is approaching its cruising…