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China rate rise 'not necessarily' yuan-related
An unnamed IMF official was quoted on Friday 29 October as saying that China's interest rate increase on Thursday 28 October did "not necessarily" mean a shift in the country's fixed exchange rate regime.
Issues paper for ECB conference on 10 Nov
In preparation for an internal conference on e-payments, the ECB has produced an issues paper entitled "E-payments without frontiers". The paper covers observations on innovation in retail payments, challenges to be faced before a mature and integrated…
BoE paper on monetary policy rules
This Bank of England Working Paper evaluates the performance of three popular monetary policy rules where the central bank is learning about the parameter values of a simple New Keynesian model. The paper argues that adopting integral representations of…
Remsperger on the Bundesbank's view of the outlook
In a speech on 'The Bundesbank's view of the economic outlook and economic policy challenges' given on 25 October, Hermann Remsperger of the Deutsche Bundesbank said the German economy remains vulnerable to a slowdown in global economic activity. This is…
Issing on EU enlargement and monetary integration
In a speech on 'EU enlargement and monetary integration' given on 22 October, Otmar Issing of the ECB said that the 10 countries that joined European Union in May should not rush to join the euro or the European Exchange Rate Mechanism II until they were…
Trichet's concluding remarks to ECB conference
In concluding remarks to the Third ECB Central Bank conference on 22 October Jean-Claude Trichet of the ECB said that a stable macroeconomic environment and progress in structural and fiscal reforms are essential to take full advantage of the benefits of…
Report claims Israel's Klein asks for second term
A report by Haaretz Daily this week claimed Bank of Israel governor David Klein asked about his chances of being appointed for a second term at the central bank during a meeting with Finance Minister Benjamin Netanyahu.
China's 'Father of the Euro' university to open
It was announced on Thursday 28 October that the recently established Mundell International University of Entrepreneurship will open in November.
Yushchenko went from central bank to politics
Viktor Yushchenko, who was governor of the National Bank of Ukraine through most of the 1990s, goes into Sunday's presidential election in the Ukraine as the main opposition candidate. This article assesses his chances, and also takes a look at his…
Former Bank of Italy governor gets pacemaker
Italian President Carlo Azeglio Ciampi, who was governor of the Bank of Italy between 1979 and 1993, underwent surgery to install a pacemaker last week, his office said.
Federal Reserve appoints regional Fed chairmen
The Federal Reserve Board on Wednesday 27 October announced the appointment of the chairmen and deputy chairmen of the twelve Federal Reserve Banks for 2005. Each Reserve Bank has a nine-member board of directors. The Board of Governors in Washington…
Interview with Philadelphia Fed's Santomero
In an interview published last Friday, 22 October, Philadelphia Fed President Anthony Santomero said that the Federal Reserve will be able to slow down the pace of interest rate rises if the economy grows less rapidly than it expects.
Interview with Dr YV Reddy, Governor of the RBI
This interview was given to Emerging Markets on the occasion of the magazine presenting Dr YV Reddy of the Reserve Bank of India the Best Central Bank Governor of the year award. Issues considered for such nominations include "strong track record,…
Danmarks Nationalbank appoints head of Secretariat
As of 1 November, Karsten Biltoft, Head of Division, is appointed Head of Danmarks Nationalbank's Secretariat which, among other things, is responsible for external and internal communication.
Sveriges Riksbank alters management forms
At its meeting on 13 October, the Executive Board of the Sveriges Riksbank decided to make certain changes in the way the bank is managed. Responsibility of members of the Executive Board for preparing matters from the departments will be replaced by a…
Federal Reserve Board - Beige Book, October 2004
The Federal Reserve has published its October 2004 Beige Book survey. The report said the economy grew in most regions of the United States in September and early October, despite signs that higher energy costs are beginning to bite.
Norway's Bergo on cyclical developments
In a speech on 'Monetary policy and cyclical developments' given on 18 October, Jarle Bergo of Norges Bank said in Norway output growth has picked up after a pause in 2003. The interest rate reductions since 2002 have contributed to a turnaround and the…
HKMA's Yam on the challenges of an emerging Asia
In a speech on 'The financial stability challenges of an emerging Asia' given on 25 October, Joseph Yam of the Hong Kong Monetary Authority gave one of the most high-profile endorsements of an Asian monetary union, saying countries in the region should…
Why the Bank of Japan keeps on doing nothing
For pretty much all of 2004, the Bank of Japan has done nothing. And looking ahead to 2005, it's not expected to do a whole lot more, this article suggests. That the BOJ isn't having a serious discussion of deflation ending anytime soon throws cold water…
RBNZ increases OCR to 6.50 per cent
The Reserve Bank of New Zealand announced on Thursday 28 October that it has increased the Official Cash Rate from 6.25 per cent to 6.50 per cent.
Mexico's Ortiz sees inflation falling
Central bank Governor Guillermo Ortiz said on Wednesday 27 October that he expects Mexico's annual inflation rate to start declining in the second quarter of 2005, and the Banco de Mexico remains committed to fighting rising prices.
China's central bank raises interest rates
The People's Bank of China on Thursday 28 October raised interest rates for the first time in nearly a decade to guide its heated economy to a path of slower growth.
ECB's Garganas: little effect on exports from euro
European Central Bank council member Nicholas Garganas said in an interview the euro's appreciation against the dollar this month probably won't hurt European exports and will help offset the effects of surging oil prices on the economy.
Tanigaki says Japan's economy is recovering
Japanese Finance Minister Sadakazu Tanigaki told parliament on Thursday 28 October that Japan's economy is on a recovery trend while deflation remains.