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Buba's Executive Board to abide by ECB Code
The Executive Board of the Deutsche Bundesbank has decided, with immediateEffect (8 April), to expressly adopt and apply to itself the Code of Conduct applicable to the members of the Governing Council of the ECB.
Reserve Bank of New Zealand Bulletin, Mar 2004
The Reserve Bank of New Zealand has published its quarterly Bulletin for March 2004. The March issue contains three articles and a speech given by Reserve Bank Governor Alan Bollard earlier this year on asset prices and monetary policy.
NY Fed's Rutledge on operational risk management
In a speech on 'Operational Risk Management - Current Issues and Supervisory Concerns' given on 22 March, William Rutledge of the Federal Reserve Bank of New York said he recognized the seriousness with which the industry is addressing the topic of…
St Louis Fed's Poole on inflation
In a speech on 'Inflation Signals and Inflation Noise' given on 6 April, William Poole of the St. Louis Fed said the Fed must act aggressively when inflation risks change. He said his own view of inflation was that risks were tilted to the upside.
ECB's Papademos on Stability and Growth Pact
In a speech on 'Some reflections on the Stability and Growth Pact' given on 5 April, Lucas Papademos of the ECB said recent experience has taught us that there is room for improvement in the implementation of the rules. So it would help to strengthen…
IMF see 'sweet spot' in financial stability report
The global economy has hit a "sweet spot" according to the International Monetary Fund's April 2004 Global Financial Stability Report, published Tuesday.
Independent evaluation of ECB research activities
The ECB released a report on Wednesday 7 April of an evaluation of the economic research activities at the ECB. The report provides a positive assessment of the research conducted at the ECB on several criteria, including scientific quality and relevance…
German government calls for quick Welteke decision
Bundesbank chief Ernst Welteke can be replaced "very quickly" if he resigns or is removed by the central bank over a hotel stay paid for by a commercial bank, the German government said Wednesday.
Basel supervisors urge more work on terror funds
Top banking supervisors on Wednesday called for more action to deprive terrorists of funding by sharing information and cracking down on informal money transfer networks.
African common currency 'will open up economies'
The introduction of the "ECO" as a common currency for Ghana, Sierra Leone, Nigeria, Guinea and The Gambia will open up the economies of member states to increase trade and commerce, according to Lanto Harding.
Four more countries face stability pact scrutiny
The European Commission has put Britain and the Netherlands under formal surveillance for letting their budget deficits breach an EU target. It also issued a warning to Italy and said it expected Greece to breach the limit.
ECB says stance in line with price stability aims
The European Central Bank published its April 2004 Monthly Bulletin on 7 April. The bank said its monetary policy stance remains in line with its target of maintaining price stability. "The low level of interest rates provides ongoing support to the…
Fazio on the international economy and Italy
In a speech on 'The international economy and Italy' given on 14 February Antonio Fazio of the Bank of Italy said Europe is not contributing to the growth of the world economy. A stronger performance on its part is also necessary to adjust the payments…
Geithner on challenges facing US financial system
In a speech on 'Change and Challenges Facing the U.S. Financial System' given on 25 March, Timothy Geithner of the Federal Reserve Bank of New York said the current deterioration in the U.S. fiscal position and the acute decline in the net national…
Greenspan on rural economic issues
In a speech on 'Rural economic issues' given on 25 March, Alan Greenspan of the Federal Reserve said the rapid gains in farm productivity in the United States continue to this day and along myriad fronts. In agriculture, as everywhere else in our economy…
St Louis Fed's Poole on entrepreneurship
In a speech on 'Allowing Entrepreneurship' given on 30 March, William Poole of the Federal Reserve Bank of St. Louis said policymakers in the European Union have been grappling with their perceived gap in entrepreneurial spirit. What they have come to…
Philippines steps up anti-counterfeiting drive
The Bangko Sentral ng Pilipinas (BSP) launched an intensified campaign against counterfeit money on Tuesday 6 April, with the promise of rewards to whistleblowers with information that would lead to the arrest of counterfeiters.
Welteke asks Bundesbank Board to review conduct
Ernst Welteke said on Tuesday 6 April that he had asked the Bundesbank's executive board to review his conduct in accepting a hotel stay paid by one of the country's major commercial banks. The move follows a decision by Welteke to pay the bill Monday.
ECB appointee against short-term rate changes
European Central Bank appointee Jose Manuel Gonzalez-Paramo has said he opposes "short-term" interest rate moves to stimulate growth.
Papademos says 'no' to stability pact changes
Lucas Papademos, vice president of the ECB, has rejected calls for changes to the eurozone's stability and growth pact saying any improvements could be made within the current framework.
ECB accepts planned accounting rules
A report said that the European Central Bank is no longer worried over the introduction of planned accounting rules to help improve transparency in financial reports.
Ueda on the role of capital for central banks
In a speech on 'The Role of Capital for Central Banks' given on 25 October (published 27 Feb), Kazuo Ueda of the Bank of Japan said that political-economy constraints in the real world may prevent central banks from fulfilling their responsibility to…
Gramlich on The Board's Modeling Work in the 1960s
In a speech on 'The Board's Modeling Work in the 1960s' given on 26 March, Edward Gramlich of the Federal Reserve said poor decision-making by Federal Reserve officials in the late 1960s reflected political interference and not a misunderstanding of the…
Fed's Bernanke on trade and jobs
In a speech on 'Trade and jobs' given on 30 March, Ben Bernanke of the Federal Reserve said the slow pace of hiring in the US is related to increasing productivity and not to outsourcing or trade.