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Canada's Dodge on nation building
In a speech on 'Nation building' given on 13 October, David Dodge of the Bank of Canada said this has been an exciting day for the Bank of Canada. This morning, we unveiled a new $50 note that celebrates nation building: shaping the political, legal, and…
Bank of Canada unveils new $50 banknote
The Bank of Canada on Wednesday 13 October unveiled Canada's new $50 banknote, the theme of which is Nation Building: shaping the political, legal, and social structures for democracy and equality.
BOJ's Fukui sees continued economic recovery
Bank of Japan Governor Toshihiko Fukui said on Wednesday 13 October that the benefits of the economic recovery are now spreading more strongly to the household sector as labour conditions improve, and the steady pickup in consumer spending continues.
Italy's Fazio: planned tax cuts must be financed
In testimony to parliament Bank of Italy Governor Antonio Fazio called on Prime Minister Silvio Berlusconi to guarantee that promised tax cuts can be funded, after government spending outpaced revenue in the first half of the year.
BoE's King: UK economy may be in 'soft patch'
Bank of England Governor Mervyn King said that five interest rate rises since November are slowing consumer spending, suggesting rates may not need to rise much further. His comments came in an interview after a speech in which he said the current…
Trichet rules out 'corrective arm' on pact
In a speech on Tuesday 12 october, ECB president Jean-Claude Trichet, addressing a conference on the euro, voiced renewed opposition to any moves that might make it easier for eurozone members to breach their 1997 Stability and Growth Pact.
High oil price threaten growth: Belgium's Quaden
Belgian National Bank governor Guy Quaden said in an interview that high oil prices pose a risk to inflation and growth, and the European Central Bank must prevent high fuel costs spilling over into general price rises and causing an "inflation spiral".
St Louis Fed's Poole on FOMC transparency
In a speech on 'FOMC transparency' given on 6 October, William Poole of the Federal Reserve Bank of St. Louis said that statements from the Fed were not "iron clad" and it is important the market not interpret this statement as a commitment.
SARB Financial Stability Review, September 2004
The South African Reserve Bank has published the September 2004 edition of its Financial Stability Review. In its latest bi-annual report the Reserve Bank says house price growth has been driven by "improved economic fundamentals".
Reserve Bank of New Zealand - Annual Report 2004
The Reserve Bank of New Zealand has published its Annual Report for 2004. In the Governor's Statement Alan Bollard said by the end of 2003 it became clear that, contrary to most economists' forecasts, New Zealand's strong economic growth was not slowing…
Mendis on a common currency in the SAARC region
In the speech 'Is it time for a common currency in the SAARC region?' given on 20 August, Sunil Mendis of the Central Bank of Sri Lanka said as conservative central banks, our involvement in the forex markets is limited to strategic investments and…
Netherland's Wellink on oil prices
Dutch National Bank president Nout Wellink said on Tuesday 12 October that although the rise in oil prices was not "pleasant" they would not dampen the outlook for economic growth in the eurozone.
Nobel prize winner calls for central bank autonomy
The joint winner of the 2004 Nobel economics prize, Finn Kydland, called on governments Monday 11 October to guarantee central bank independence and praised the European Central Bank, while criticising Latin American policy makers.
Venezuela's central bank under threat from Chavez
Venezuela's President Hugo Chavez has repeated threats to the central bank that if it doesn't allow him to use part of its international reserves to fund his social programs for the poor, he will get a Supreme Court order to force it.
Takenaka: Japan economy in minor adjustment phase
Heizo Takenaka, Japan's Minister for Economic and Fiscal Policy, said on Tuesday 12 October that Japan's economic growth rate has slowed because the economy has entered an adjustment phase following strong growth in the last quarter of 2003.
Fed's Bernanke to address Cato conference
Federal Reserve board member Ben Bernanke and Kristin J. Forbes, member of the US president's Council of Economic Advisers, are part of a long list of distinguished guests scheduled to participate in the Cato Institute's forthcoming 22nd annual monetary…
Fed's Poole on population and social security
In a speech on 'World population trends and challenges' given on 4 October, William Poole of the Federal Reserve Bank of St. Louis said raising the age at which Americans can collect full Social Security benefits may be the best way to protect the long…
St Louis Fed's Regional Economist, October 2004
The Quarterly Review of Business and Economic Conditions, The Regional Economist, October 2004 edition from the St Louis Fed includes the article "U.S. Stays Out of the Way of Entrepreneurs" which says for those starting a business in this country,…
Central bankers need to learn new tricks
This article speculates as to whether central bankers play five-a-side football in policy meetings. Or at least, there is no point in them doing anything else, it says. With complete credibility, they really don't have to do very much at all. But…
Pakistan's Husain on South Asian economies
In a speech on 'Future challenges facing South Asian economies' given on 26 August, Ishrat Husain of the State Bank of Pakistan said South Asian countries have undergone remarkable improvement in their economic landscape during the last ten years or so…
RBI spells out centralised cheque clearing system
The Reserve Bank of India (RBI) has detailed plans to set up a centralised clearing house system to provide an interface for image based inter-bank cheque truncation between presenting and drawee banks.
Fed's Stern says data won't change Fed tack
Minneapolis Federal Reserve President Gary Stern said on Friday 8 October in an interview that the weaker than expected gains in the labour market are not enough to change the Fed's plan to gradually raise interest rates.
Current level of euro not a problem: EU's Almunia
Speaking at a European Commission conference on the euro, EU Economic and Monetary Affairs Commissioner Joaquin Almunia said on Monday 11 October that the current level of the euro against the dollar is not a problem.
ECB's Trichet sees 'gradual' economic recovery
European Central Bank president Jean-Claude Trichet said in an interview published on Monday 11 October that the economic recovery in the eurozone has remained gradual and that the central bank's analysis of the situation was balanced.