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RBNZ leaves rates unchanged
The Reserve Bank of New Zealand left interest rates unchanged at 5 per cent on Thursday 23 October. "As noted in our September monetary policy statement, the New Zealand economy has been enjoying strong economic growth, with robust domestic demand…
Duisenberg optimistic for eurozone economy
Outgoing European Central Bank President Wim Duisenberg said on Thursday 23 October that he was "fairly optimistic" regarding the outlook for eurozone growth, according to AFP Things are going in the right direction, albeit slowly. I think that in Europe…
ECB's Wellink: Interest rates low enough
European Central Bank Governing Council Member Nout Wellink said on Thursday 23 October that interest rates are low enough to support economic recovery in the eurozone, according to Reuters.
Dodge at the House of Commons Finance Committee
David Dodge told Canada's House of Commons Finance Committee on Wednesday 22 October that the prospects for near-term growth in the global economy have improved since April, and geopolitical uncertainty has continued to decrease. The economic picture in…
Statement by David Dodge on Monetary Policy Report
The Governor of the Bank of Canada cautioned that there are still "significant" risks attached to the bank's outlook. "There is uncertainty both about the likely changes in key global exchange rates and their effect of the Canadian economy," David Dodge…
Bank of Canada, Monetary Policy Report, Oct 2003
The Bank of Canada has released its Monetary Policy Report for October 2003. Since the April Report, the Canadian economy has been hit by a number of unusual shocks: SARS, BSE, the Ontario electricity blackout, and the severe forest fires in British…
Bergo: The role of interest rate's in the economy
In a speech on 'The role of the interest rate in the economy' given on 19 October, Jarle Bergo of Norges Bank said low real interest rates will in the short term stimulate economic growth and contribute to preventing deflation. Keeping interest rates low…
Caruana on Prices, productivity and growth
In a speech on 'Prices, productivity and growth' given on 17 October Jaime Caruana of the Bank of Spain said the Spanish economy, despite sharing some of the structural shortcomings present in Europe, has been more buoyant in recent years than the euro…
Bank of Canada sees lower inflation
The Bank of Canada said on Wednesday 22 October that Canadians can expect lower inflation and increased economic growth next year, according to CBC News. The bank said in its latest monetary policy report that growth is expected to average a bit over 3…
Plan to move Russian central bank to St Petersburg
Sergei Mironov, speaker with the Russian Federation Council, has said, according to a report by Gateway to Russia, that the Russian central bank might be transferred to St Petersburg. Mironov said he is for the transfer as it will bring funds to the city.
New Deputy Governor elected to Bulgaria c bank
Bulgaria's Parliament has elected Tsvetan Manchev deputy governor of the Central Bank and head of the Emission Department, according to a report by Novinite. He was previously executive director of the Agency for Economic Analyses and Forecasts with the…
Belarus, Russia discuss money-emission centre
The National Bank of Belarus and the Russian Central Bank have approved the framework of pegging the Belarusian rouble to the Russian rouble for the first quarter of 2004, according to the Belapan news agency.
Ecuador reports record monetary reserves
The Central Bank of Ecuador has reported that reserves, which have been increasing since August, have hit a record breaking level, according to a report by CRE Satelital radio. The increase is due to the arrival of new loans from international…
BI hands over money laundering authority to PTATK
Bank Indonesia has handed over the handling of suspicion transaction reports from banks to the PTATK in accordance with a new law, acording to a report by AFX Asia. The Financial Action Task Force on anti-money laundering had pressed for the new law to…
Rwanda: Central bank to withdraw old bank notes
The Central Bank of Rwanda has decided to withdraw legal tender for old banknotes beginning December this year, according to The New Times. An official from the Central Bank said that new notes were already in circulation to replace old ones that had…
Chirac nominates Noyer as Bank of France president
French President Jacques Chirac nominated Christian Noyer on Wednesday 22 october as Jean-Claude Trichet's successor at the Bank of France, the Financial Times reports. Noyer, 53, is a former deputy governor of the European Central Bank.
Minutes show BoE came close to rate increase
Minutes from the Bank of England's October Monetary Policy Committee meeting published on Wednesday 22 October showed four of the nine members, including deputy governor Andrew Large, voted for an increase in interest rates, according to Reuters. The…
Bank of England MPC Minutes 8/9 October 2003
Minutes of the Bank of England's Monetary Policy Committee Meeting were released on 22 October for the meeting of 8 and 9 October 2003. Deputy governor Andrew Large, executive director Paul Tucker and external MPC members Kate Barker and Stephen Nickell,…
Duisenberg on Maastricht and the future of Europe
In a speech on 'Maastricht and the future of Europe' given on 22 October, Wim Duisenberg of the ECB said: "As a central banker, I would argue that the draft Constitution for Europe has incorporated the substance of the EMU chapters of the Maastricht…
Riksbank's Nyberg on Sweden in Europe
In a speech on 'Sweden in Europe' given on 18 October, Lars Nyberg of the Sveriges Riksbank said that according to the agreement of the heads of state and government during the Lisbon summit, the reforms should, for instance, aim to increase employment…
San Francisco Fed's Parry on the economic outlook
In a speech on 'Economic Outlook: National Trends, Regional Implications' given on 16 October, Robert Parry of the Federal Reserve Bank of San Francisco warned that interest rates will not stay at their current lows indefinitely. "The most likely outcome…
Minehan on Housing in the Nation & in New England
In a speech on 'Housing in the Nation and in New England' given on 16 October, Cathy Minehan of the Federal Reserve Bank of Boston said despite worries that job losses could hurt the booming housing market, the level of housing investment will likely…