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Bank of Japan Monthly Report, March 2004
The Bank of Japan published its March 2004 Monthly Report of Recent Economic and Financial Developments on 18 March. In the report the BOJ kept its economic assessment unchanged, saying the economy was in a gradual recovery.
Greenspan on Banking
In a speech on 'Banking' given on 17 March, Alan Greenspan of the Federal Reserve said US banks are strong and profitable, with "favourable" asset quality, and able to provide financing for a growing economy.
International Conference on Emerging Markets
The Centre for the Study of Emerging Markets (CSEM), Westminster Business School, London, will hold a two-day conference 11-12 June. Confirmed speakers include central bank governors from Poland, Bolivia, Latvia and Bosnia Herzegovina.
Bank of Canada issues new $100 bank notes
The Bank of Canada officially put into circulation Canada's new $100 bank notes on Wednesday 17 March. The new notes contain various state-of-the-art security features and will be distributed and become available across the country over the next two…
Argentina and Brazil join forces over Fund rules
Brazil and Argentina joined forces on Tuesday 16 March, asking the International Monetary Fund to remain flexible regarding their budget surpluses.
Namibian Bill could remove SA money
A Parliamentary Bill in Namibia which will give the Finance Minister the option of deciding when Namibia will stop using South African notes and coins was the first legislation to be passed in the National Assembly this year.
New Spanish PM backs Rato for IMF
Spain's future Socialist prime minister, Jose Luis Rodriguez Zapatero, on Wednesday 17 March came out in support of Rodrigo Rato for IMF Managing Director, saying that his appointment would be good news.
Germany sets G20 meeting for Nov 19-21
Germany said on Tuesday 16 March that it will host a meeting of finance ministers and central bank governors from the G20 group of developed and emerging market economies on 19-21 November in Berlin.
Fukui says BOJ wants 'favourable money supply'
Bank of Japan Governor Toshihiko Fukui told Parliament on Wednesday 17 March that the central bank wants to achieve "favourable money supply" growth and that the economy hasn't recovered enough to allow the BOJ to adopt an explicit inflation target.
Japan denies plan to change forex policy
Japanese officials on Tuesday 16 March sought to deflect growing speculation that they could soon scale back their foreign exchange intervention, aimed at preventing a higher yen from stifling an economic recovery.
ECB set to maintain neutral rates stance
The European Central Bank will maintain its "wait and see" stance on interest rates amid mixed signals on growth and consumer confidence, ECB governing council member Yves Mersch says.
RBNZ's FX intervention background paper
Background information on the proposal of the Reserve Bank of New Zealand to extend the purpose for which it holds foreign exchange reserves. A capital injection into the RBNZ will be required to enable the Bank to absorb unrealised, temporary losses…
Federal Reserve maintains its patience
The Federal Open Market Committee decided on Tuesday 16 March to keep its target for the federal funds rate at 1 per cent, repeating that it can be "patient in removing its policy accommodation".
Bank of England MPC Minutes 3/4 March
Minutes of the Bank of England's Monetary Policy Committee Meeting were released on 17 March for the meeting of 3 and 4 March 2004. All nine members of the MPC voted to keep interest rates steady earlier this month, but their arguments may suggest…
Deficits of six future EU members broke EU rules
Six of the 10 countries to join the European Union in May had public deficits greater than those allowed by the EU's Stability and Growth Pact, EU data published on Tuesday 16 March showed.
Fed policy: steady as she goes
Federal Reserve chairman Alan Greenspan and his colleagues were predicted to keep interest rates stable on Tuesday 16 March as data showed further jobless recovery.
ECB to discuss economic impact of bomb attack
Austrian central bank governor Klaus Liebscher said on Tuesday 16 March that the ECB will this week examine possible consequences of the Madrid bomb attacks on the European economy.
Spain may propose Rato as IMF chief
Rodrigo Rato, former Spanish economy minister after Sunday's election, may be proposed to run the IMF, according to Miguel Sebastian, an economic adviser to Prime Minister-elect Jose Luis Rodriguez Zapatero.
RBNZ's 2004 Monetary Policy Challenge
The Reserve Bank of New Zealand is again hosting the Monetary Policy Challenge this year. The Challenge is aimed at secondary school economics students and is designed to expand their understanding of monetary policy.
Bank of Japan leaves monetary policy unchanged
The Bank of Japan said on Tuesday 16 March that its policy board had decided unanimously to leave its easy monetary policy unchanged at the end of a two-day scheduled meeting.
Canada's Dodge on global economic change
In a speech on 'Adjusting to Global Economic Change' given on 16 March, David Dodge of the Bank of Canada said Canada's government must continue to reduce debt. "Maintaining fiscal balance must remain a priority for Canada in the years ahead," Dodge said…
Bundesbank: public-sector finances 'crisis-like'
The Bundesbank said on Monday 15 March that deep-reaching reforms, with sound fiscal policy, were still needed to get the German economy growing again.
France may opt to use gold to fund research
The French government is looking at the possibility of using its gold reserves to finance research, with a ministerial source quoted as saying that while the gold is managed by the central bank it belongs to France.
BOJ should adopt inflation target says Nakahara
A former policy board member of the Bank of Japan has said that Toshihiko Fukui should pump more money into the economy and set an inflation target to fight deflation.