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IMF urges China to float yuan now
IMF managing director Rodrigo de Rato said on Wednesday 29 September that it would be to China's advantage to uncouple the yuan from the dollar. This article looks at the chances of China making some concession on the currency question at Friday's G7…
Fed's Bies on developments in financial markets
In a speech on 'Developments in Financial Markets and Financial Management' given on 30 September, Susan Schmidt Bies of the Federal Reserve said both the household and business sectors appeared to be in good shape.
Cyprus to decide on ERM by year end
Cyprus will decide by the end of the year on the timing of its application to join the European exchange rate mechanism (ERM2), according to Finance Minister Makis Keravnos.
Fed's Stern plays down consumer debt fears
US consumers are in good financial shape, top Fed official Gary Stern said, rejecting fears that high levels of household debt are unsustainable.
Japan on way to sustainable recovery: BOJ's Fukuma
Bank of Japan policy board member Toshikatsu Fukuma said in a speech that growth in Japan this fiscal year will exceed the central bank's 3.1 per cent forecast as the world's second-largest economy moves toward a sustainable recovery.
G7 to discuss oil prices and China
Finance ministers and central bank governors from the Group of Seven industrialised nations will hold a one-day meeting on Friday 1 October in Washington.
BOJ winding up the stock purchasing program
The Bank of Japan has said in a statement that it has ended its policy of buying stocks from commercial banks as initially planned.
Norway's Gjedrem: Conduct of monetary policy
In a speech on 'The conduct of monetary policy' given on 28 September, Svein Gjedrem of Norges Bank said growth is high in the Norwegian economy and there are prospects of continued strong growth in petroleum investment in 2005. Employment is rising,…
BIS Triennial Central Bank Survey 2004
The Triennial Central Bank Survey conducted in April 2004 by 52 central banks and monetary authorities and coordinated by the Bank for International Settlements (BIS) was the second comprehensive assessment of foreign exchange and derivatives market…
Padoa-Schioppa on challenges of market building
In a speech on 'The European Union and the Russian Federation: Challenges of market building' given on 28 September, Tommaso Padoa-Schioppa of the ECB said the Bank of Russia and the Eurosystem have entered into a dialogue on the whole range of central…
Fed's Bies::challenges for accountancy
In the speech 'Challenges Facing the Accounting Profession Today' given on 28 September Susan Schmidt Bies of the Federal Reserve said the U.S. labour market "looks like it is picking up again," after slowing in June and July.
Brazil's Meirelles promises lower rates
The president of Brazil's Central Bank, Henrique Meirelles, has said that the higher primary account surplus and the lower ratio between debt and GDP will mean lower interest rates in the medium term for Brazilians.
New study says IMF should limit its role
According to a new study from the Institute for International Economics, the IMF must limit its role in countries undergoing a financial crisis and set more realistic limits on lending, including revising guidelines to those nations.
US Treasury Sec. Snow: oil prices at G7 meeting
US Treasury Secretary John Snow said on Tuesday 28 September that the record high for world crude oil prices will be one of the key issues to be discussed as the Group of Seven (G7) industrialised nations meet in Washington this week.
Hoenig; modest effect of oil prices on US economy
Kansas City Fed president Tom Hoenig said on Tuesday 28 September that high oil prices will probably slow U.S. growth but will not derail the economy provided there is not another sharp spike upwards.
Bank of Canada issues new $20 banknotes
The Bank of Canada put Canada's new $20 banknotes into circulation on Wednesday 29 September. The new notes will be distributed and become available across the country over the next few weeks.
ECB's Issing on strengthening economic governance
In a speech given on 28 September, Otmar Issing of the ECB defended the Eurozone's Stability and Growth Pact, saying it was "appropriate in its present form".
Central Bank of Ireland Financial Stability Report
The Central Bank of Ireland has published its first stand-alone Financial Stability Report. The Report focuses on the stability of the Irish financial system with a special emphasis on the banking sector.
BIS' s Knight on banking regulation, supervision
In a speech on 'Banking and insurance regulation and supervision: Greater convergence, common challenges' given on 23 September, Malcolm Knight of the BIS said the broadly-based process of convergence within the global financial system across markets,…
Is the euro good for Europe?
The euro has existed as a currency for over five years now, and notes and coins have been in circulation for over two. This article asks whether the coin of the realm in 12 European countries has accomplished its goals.
Reviewing US monetary policy in disinflation era
This Bank of Japan Working Paper reviews the experience of US monetary policy from 2000 to shed some light on issues regarding the effectiveness of monetary policy in a low inflation era. Result shows that the observed financial market response to the…
Bank of Portugal - Annual Report 2003
The Bank of Portugal has published its Annual Report for the year ended 2003. In 2003 the Portuguese economy went into recession. For the second consecutive year, the growth differential of economic activity between Portugal and the euro area as a whole…
The U.S. new Keynesian Phillips curve
The authors of this Bank of Canada Working Paper examine the evidence that the inflation dynamics in the United States can be well-described by the New Keynesian Phillips curve (NKPC). They find that the empirical evidence for the real marginal cost is…
Caruana: Making diligent preparations for Basel II
In the speech 'Making diligent preparations for Basel II' given on 22 September, Jaime Caruana of the Bank of Spain said challenging work remains ahead to ready our banks, to build our skills as supervisors, and to promote greater transparency in our…