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BOJ's Haru cautious on possible rise in JGB yields
Bank of Japan Policy Board member Hidehiko Haru said on Thursday 3 June that it was expected that interest rates on Japanese government bonds to rise in line with an economic recovery but that an excessive jump may be harmful.
Fed's Bies on Bank Secrecy Act enforcement
In testimony on 'Bank Secrecy Act enforcement' given on 3 June, Susan Schmidt Bies of the Federal Reserve said the Federal Reserve has expanded its anti-money laundering program "dramatically" in the last 10 years and urged U.S. banks to take steps to…
Caruana on Basel II - a new approach
In a speech on 'Basel II - a New Approach to Banking Supervision' given on 1 June, Jaime Caruana of the Bank of Spain said Basel II is an important step in embracing a new, incentives-based approach to supervision. In the speech Caruana discusses how it…
ECB press conference, with Q & A session
The European Central Bank held eurozone interest rates unchanged for a 12th month on Thursday 3 June. At the post-meeting press conference Jean-Claude Trichet said the economic recovery has strengthened over recent months, but noted we have also…
Norges Bank Financial Stability Report No.1, 2004
The central bank of Norway, Norges Bank, has published its twice yearly Financial Stability Report 1/2004. "The short-term outlook for financial stability is regarded as satisfactory and has improved somewhat compared with the situation six months ago,"…
Sveriges Riksbank, Financial Stability Report
Sweden's central bank, the Sveriges Riksbank, published its first Financial Stability Report for 2004 on 2 June. Although household debt is increasing at a rapid rate, it is not considered to entail any serious risks for Swedish banks, according to the…
RBI's Udeshi on the role of central bankers
In a speech on the 'Role of Central Bankers in Emerging Economy like India' given on 19 March, Kishori Udeshi of the RBI said the life of a central banker is one of anonymity, staid and boring. It is only in moments when the going is tough that central…
Report says Basel II will cost banks 20-30bn euros
Applying capital requirements under a new accord drafted by the Basel committee should cost European banks 20-30 billion euros between 2002 and 2006, a study prepared for the European Commission has estimated.
EU Finance ministers urge OPEC action on oil price
French Finance Minister Nicolas Sarkozy says that eurozone finance ministers have agreed to coordinate any response to surging oil prices and want talks with oil producers to lead to an increase in output.
S. African treasury and cb to co-ordinate policies
The South African treasury and the Reserve Bank have signed a memorandum of understanding to ensure there was no conflict between their different approaches to fiscal and monetary policies, Lesetja Kganyago, the new director-general of the treasury said…
CBK to get increased regulatory powers
Under proposed changes, the Central Bank of Kenya will have additional powers to monitor and regulate the banking industry. The ministry of finance will transfer banking licensing, regulation and disciplinary authority to the CBK, the East African…
Chicago Fed National Activity Index, April 2004
The Chicago Fed National Activity Index April 2004 increased sharply in April, to +0.64, from an upward-revised +0.23 in March. Each of the four broad categories of indicators that comprise the index made positive contributions in April, with production-…
Richmond Fed's Economic Quarterly, Spring 2004
The Federal Reserve Bank of Richmond has published its Economic Quarterly for Spring 2004. The latest edition contains four articles including "Which price index should a central bank employ?" Many central banks give a high degree of prominence to the…
RBA's Stevens on economic conditions and prospects
In a speech on 'Economic conditions and prospects: June 2004' given on 2 June, Glenn Stevens of the Reserve Bank of Australia said Australia's economy was still growing comfortably but at a slower rate than the unsustainable pace of late 2003.
National Bank of Belgium - Annual Report 2003
The National Bank of Belgium has published its Annual Report for the year ended 2003. Guy Quaden said in the Foreword to the report the relatively disappointing performance by many European countries in terms of growth and rising unemployment highlight…
Reserve Bank of Fiji - Annual Report 2003
The Reserve Bank of Fiji has published its Annual Report for the year ended 2003. Governor Savenaca Narube said he believed the Bank took another significant step towards achieving its vision of "Leading Fiji to Economic Success" in 2003. Inflation…
bundesbank's Remsperger on real-time data
In a speech on 'Real-Time Data and Monetary Policy' given on 28 May, Hermann Remsperger of the Bundesbank said that research on real-time data is of utmost importance for central banks.
Philippines may stay on FATF list
The Philippines may have to wait another year before it can be removed from the list of so-called "uncooperative" countries by the Financial Action Task Force (FATF,) Governor Rafael Buenaventura of the Bangko Sentral ng Pilipinas said Monday 31 May.
Fazio warns Italian government on spending
Speaking during the Bank of Italy's annual meeting on Monday 31 May, Antonio Fazio said that Italy is still capable of joining in with the world recovery but it has to change direction, initiating a clear, concrete and agreed economic policy.
BOJ's Muto says unclear when deflation will end
A Bank of Japan official said on Tuesday 1 June that it was unclear when deflation in Japan would end and that the central bank would maintain its quantitative easing policy for a "considerable time".
PBOC won't hike rates if economy grows
China will not raise interest rates as long as the nation's economy keeps growing, People's Bank of China Vice Governor Su Ning said at a symposium in Tokyo, the Nihon Keizai Shimbun reported.
Sveriges Riksbank Inflation Report, No.2, 2004
Sweden's central bank, the Sveriges Riksbank, has published its Second Inflation Report for 2004. On the whole, the recovery in the Swedish economy has progressed largely as anticipated in the previous Inflation Report. New data suggest that net exports…
Central Bank of Trinidad and Tobago - Ann Rep 2003
The Central Bank of Trinidad and Tobago has published its Annual Report for the financial year ended 30 September 2003. In 2003, the Trinidad and Tobago economy continued to register strong growth based largely on developments in the energy sector…
SNB's Roth on Switzerland: An Island in Euroland?
In a speech on 'Switzerland: An Island in Euroland?' given on 21 May, Jean-Pierre Roth of the Swiss National Bank said the introduction of the euro constituted a real revolution for Europe and represented arguably the major postwar stage in European…