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IMF paper: new taxonomy of monetary regimes
This IMF Working Paper proposes a new taxonomy of monetary regimes defined by the choice and clarity of the nominal anchor. The regimes are: (i) monetary nonautonomy, (ii) weak anchor, (iii) money anchor, (iv) exchange rate peg, (v) full-fledged…
Fed Reserve Bank of St Louis Review, Nov/Dec 2004
The latest edition of the St Louis Fed's Review for November-December 2004 includes the article "Monetary policy and asset prices: A look back at past U.S. stock market booms" which examines the economic environments in which past U.S. stock market booms…
The roughest terrain in China's central banking
This article makes comparisons between China's first interest-rate increase since 1995 recently and the actions of Paul Volcker at the Federal Reserve back in October 1979. PBOC governor Zhou Xiaochuan needs to bring fresh thinking and unconventional…
Norway's central bank leaves key rate unchanged
Norway's central bank announced Wednesday 3 November that its key interest rate would remain unchanged at a record low 1.75 per cent.
BOT chief says economy continues to grow
The Governor of the Bank of Thailand (BOT), M.R. Pridiyathorn Devakula, said on Tuesday 2 November that the Thai economy had continued to expand satisfactorily despite the downward revision of economic growth estimate.
IMF says Germany's budget aims 'challenging'
The International Monetary Fund (IMF) has warned in a report that Germany's budget deficit could breach EU rules in 2005 if additional economic measures are not taken by the government.
World central bank gold holdings down 3.2%
Analyst John C Tumazos of Prudential Financial said on Tuesday 2 November that world central bank gold holdings have declined by 3.2% since November 2002.
Romanian central bank lowers rates
Romania's central bank has announced that it has lowered its key interest rate by 0.5 percentage points to 18.25%.
Norges Bank Inflation Report, November 2004
Norway's central bank, Norges Bank, has published its latest Inflation Report for November 2004. The report said the effects of high oil prices on the Norwegian economy are mixed. Lower external demand will have a negative impact on some Norwegian…
Asian central banks on the horns of policy dilemma
These are tricky times for Asian central banks, this article reports. With semi-public wranglings between central banks and finance ministries, this is one of the least predictable environments for policy forecasting since the 1997-98 Asian financial…
State Bank of Pakistan - Annual Report 2003-2004
The State Bank of Pakistan has published its Annual Report for the year 2003-2004. The annual report said strong GDP growth in 2003-04 was led by the large-scale manufacturing sector, which was fuelled by higher demand stemming from a record growth in…
Riksbank's Rosenberg on monetary policy
In a speech on 'Monetary policy and the conditions for growth' given on 1 November, Irma Rosenberg of the Sveriges Riksbank said the Riksbank sees Swedish GDP growth of 2.0-2.5 pct over the longer term.
Argentina's Redrado on cb's 6-yr goals
In a speech on 'Central Bank of Argentina's key mission for the next six years' given on 5 October, Martin Redrado of the Central Bank of Argentina said our goals are to consolidate price stability and restore the peso's role and value. Create a…
Fed's Ferguson on business investment
In a speech on 'Factors influencing business investment' given on 26 October, Roger Ferguson of the Federal Reserve said US businesses are discarding their earlier caution and investing more in capital goods and structures.
Korea's central bank to restructure
The Bank of Korea (BOK) is to revamp its internal structure in an apparent bid to repair its reputation as an influential voice in the nation's economy, the Korea Times reported Tuesday.
Central bank of Oman awards RTGS project to Imtac
The Central Bank of Oman (CBO) has signed a contract for the implementation of Real Time Gross Settlement (RTGS) with Imtac LLC, a leading IT solutions vendor, the Times of Oman reported Tuesday.
BoJ to take time on ending ultra-loose policy
Bank of Japan Governor Toshihiko Fukui said on Tuesday 2 November that the central bank will take its time in determining the time to abandon the current ultra-loose monetary policy.
Santomero says Fed's regional diversity important
Federal Reserve Bank of Philadelphia President Anthony Santomero made no comment on the economy or the outlook for interest rates at an event at the Philadelphia Stock Exchange on Monday 1 November but said the Fed's regional diversity helped ensure…
Tanigaki: govt. must consider BoJ's deflation view
Japanese Finance Minister Sadakazu Tanigaki said on Tuesday 2 November that the government will need to consider the Bank of Japan's outlook for an end to deflation in 2005 when formulating future economic policies.
Presidential victor replaces Greenspan
This article argues that for whoever wins the US presidential election, choosing a successor to Federal Reserve chairman Alan Greenspan may be the biggest economic choice that the election victor will face. Kerry may go for Robert Rubin or Lawrence…
Denmark's Thomsen at the 3rd ECB Conference
In a speech to the 3rd ECB Central Banking Conference given on 22 October Jens Thomsen of the Danmarks Nationalbank said theoretically, inflation targeting in ERM II presents an additional complication in that the impact of the national interest rate…
BoJ Outlook: Economic Activity & Prices, Oct 2004
The Bank of Japan published its October 2004 Outlook for Economic Activity and Prices report on 1 November. The report says that core consumer inflation should "increase slightly" in the year to March 2006 but warned oil prices and other uncertainties…
Sweden's Srejber on the future of the economy
In the speech 'Is there reason for confidence in the future of the economy?' given on 21 October Eva Srejber of the Sveriges Riksbank said the positive effects of sustainable long-term growth, combined with the opportunities offered by continued…
Minutes from the Sveriges Riksbank Meeting, 13 Oct
Minutes from the Sveriges Riksbank Executive Board meeting on 13 October showed that the board was unanimous in its decision to leave the repo rate unchanged at 2 per cent.