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Eu-row continues
The row over how to spell the "euro" single currency was only partially solved this week when Lithuania (euras) and Slovenia (evro) agreed a compromise on the word but Latvia (eiro) and Hungary (euroo) said they plan to stick to their own spelling.
RBA likely annoyed by political rate talk
In an interview with Dow Jones Newswires on Wednesday 13 October, Professor Stephen Bell, author of a new book "Australia's Money Madarins: The Reserve Bank and the Politics of Money" said the government's argument that interest rates would rise faster…
McTeer set to leave Dallas Fed
Dallas Federal Reserve President Robert McTeer, the U.S. central bank's resident poet and "lonesome dove" on inflation, is likely to leave if he wins the chancellor's position for the Texas A&M University System.
Leiderman named favourite to replace Klein
Professor Yitzhak Swary isn't the leading candidate to be the next Bank of Israel Governor, as Professor Leonardo Leiderman, a former senior official at the central bank, has a better chance of being appointed, TheMarker.com financial news service…
Romania appoints new Board of Directors
The National Bank of Romania has a new Board of Directors, Rompres reported on Tuesday 12 October. The BNR management was agreed by parliament in late September following fierce debate.
Ireland's statistics department finally leaves cb
Staff of Ireland's department of Central Statistics office located on the top floor of the Central Bank building started vacating the building this week. The move came as a result of a three-month notice which the central bank sent to the Statistics…
Hungary's Jarai against cb reform proposal
The president of Hungary's central bank (MNB), Zsigmond Jarai, has criticised a proposal to increase the number of members of the MNB's Monetary Council from nine to eleven and to allow the prime minister to choose five of the eleven members and approve…
Russia discusses single currency idea with Ukraine
Russia and Ukraine are ready to discuss currency integration and the introduction of a single currency, Russian Ambassador in Kiev Viktor Chernomyrdin said in opening remarks to a round table meeting "Russia and Ukraine: Prospects of Cooperation in the…
Central banks 'must cede powers for GCC currency'
On Wednesday 13 October, Kuwait urged GCC states to be ready to cede some of the powers of their central banks to a unified institution to ensure the success of a planned common currency for the region.
Fed's Bernanke says floating exchange rates best
In a speech to the Cato Institute 22nd Annual Monetary Conference on Thursday 14 October Ben Bernanke said that the best course is generally to let exchange rates float freely and to make low and stable inflation a principal focus of monetary policy,…
BOK expects first loss in decade
Governor of the Bank of Korea Park Seung told parliament on Tuesday 12 October that the central bank predicted it would suffer a loss of about 300 billion won ($261.8 million) this year.
Norges Bank, Economic Bulletin, October 2004
Norges Bank, the central bank of Norway, published its October 2004 Economic Bulletin on Thursday 7 October. The Bulletin includes the article "Inflation targeting - some theory with main focus on practice" by the Governor of Norges Bank, Svein Gjedrem…
Riksbank leaves repo rate unchanged at 2 per cent
At its meeting on 13 October, the Executive Board of the Sveriges Riksbank decided to leave the repo rate unchanged at 2 per cent.
ECB Monthly Bulletin, October 2004
The European Central Bank published its October 2004 Monthly Bulletin on Thursday 14 October, saying that record oil prices are threatening to slow the pace of the economic recovery in the dozen nations sharing the euro.
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…