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Greenspan defends Fed's decision-making methods
The Jackson Hole conference has seen a somewhat defensive Federal Reserve with criticism of its communication policies, the Wall Street Journal reported. But while even a former Fed Governor, Lyle Gramley, criticised the mixed implications for the bond…
Swedish PM takes a swipe at eurozone economies
With Sweden's referendum on the euro fast approaching, Goran Persson has hit out at the fiscal policies in leading eurozone economies Germany, France and Italy saying the three should have done more to put their public finances in order and build up…
Irma Rosenberg on the economic outlook for Sweden
In the speech 'The economic outlook for Sweden' given on 2 September Irma Rosenberg of the Sveriges Riksbank said in the June Inflation Report, the Riksbank concluded that there had been a gradual deterioration in both Swedish and international economic…
Rogoff on globalization and global disinflation
In the speech 'Globalization and Global Disinflation' given on 29 August Kenneth Rogoff of the IMF said the greatest threat to today's low inflation would be a reversal of the modern trend towards enhanced central bank independence, particularly if trend…
SARB's Plenderleith on monetary policy in Africa
In the speech 'Is monetary policy different in Africa?' given on 29 August Ian Plenderleith of the South African Reserve Bank asks are the very evident differences between Africa and the developed countries, for example in economic and social structure,…
Gramlich speaks at the 25th anniversary of the NRC
In a speech given on 18 August Edward Gramlich of the Federal Reserve said the Neighbourhood Reinvestment Corporation (NRC) has a history of effective problem solving. At a very early stage it recognized that a secondary mortgage market would be…
SARB plans overhaul of Bank Act
The South African Reserve Bank (SARB) has been working on new draft legislation for the past 18 months to replace the archaic SARB Act, Business Day reports. Bank governor Tito Mboweni said it would define the Bank's objective as being to achieve and…
Reinhart - Fed's communication 'work in progress'
The director of the Fed's Division of Monetary Affairs Vincent Reinhart told the Kansas City Fed's conference Saturday that the FOMC's communication of its policy stance and intentions is still "a work in progress" Market News International reported…
IMF's Koehler urges move to FX flexibility in Asia
Managing Director of the IMF, Horst Koehler, called on Asian nations to gradually introduce greater foreign exchange flexibility on Monday. He also urged advanced countries to tackle their deep-seated structural problems to ensure a gradual and orderly…
Sweden: No new poll 'till 2010' if euro shunned
A No vote in Sweden's euro referendum would mean at least ten years before a new referendum could be held, prime minister Goran Persson said Sunday. He said a No vote would place Sweden "last in the queue" for entry to the single currency, the Financial…
SNB's Roth urges finance reputation clean up
Speaking at the weekend Swiss National Bank president Jean-Pierre Roth told a conference the Swiss financial community needs to act to inspire more confidence and clamp down on money-laundering and "energetically reject" the idea that Switzerland is only…
Bank of Israel sets up financial stability unit
The Bank of Israel has set up a new unit for financial stability, Globes online reports. The duties of the new department include developing tools for the early detection of threats to stability, preventing threats from becoming exacerbated, and…
Thai central bank may curb speculative capital
Thailand's central bank governor M.R. Pridiyathorn Devakula said the BoT was considering new ways to curb speculative capital inflows after they returned to the same level as before the July 27 interest rate cut, the Bangkok Post said.
BOK announces coin campaign with UNICEF
The Bank of Korea has announced an agreement with UNICEF to support a coin collection campaign to raise funds for needy children in developing nations, the Korea Times reported.
Richmond Fed's Economic Quarterly, Summer 2003
The Federal Reserve Bank of Richmond has published its Economic Quarterly for Summer 2003. The latest edition contains four articles, Accounting for Corporate Behavior, Japanese Monetary Policy and Deflation, The Euro and Inflation Divergence in Europe…
Cost savings from e payments and ATMs in Europe
Working Paper from the Federal Reserve Bank of Philadelphia "Cost Savings From Electronic Payments and ATMS in Europe". Electronic payments are considerably cheaper than their paper-based alternatives. As the share of electronic payments in 12 European…
Srejber on lessons from Growth and competition
In the speech 'Growth and competition - lessons from the past' given on 25 August Eva Srejber of the Sveriges Riksbank said there have been many changes in the Swedish economy in recent times. The external framework is currently characterised by…
Stevens on structural change and monetary policy
In the speech 'Structural Change and the Conduct of Monetary Policy' given on 30 August Glenn Stevens of the Reserve Bank of Australia said central banks have routinely to be on the look out for the sorts of changes which, while leaving ultimate…
Economy in Brazil contracts 1.4% in 2Q
Brazil suffered the largest contraction in its economy for five years in the second quarter of this year, according to Bloomberg News, as the largest government spending cuts on record and rising interest rates choked off demand.
Afghanistan displays forgotten gold reserves
Afghan president Hamid Karzai accompanied central bank governor Anwar ul-Haq Ahady and other dignitaries on Friday 29 August as they witnessed the opening of a vault under Afghanistan's presidential palace containing the countries gold reserves,…
Greenspan on monetary policy under uncertainty
In a speech on 'Monetary Policy under Uncertainty' given on 29 August Alan Greenspan of the Federal Reserve said he preferred to set economic policy by managing possible risks rather than obeying formal rules. "That any approach along these [formal…
Eurozone inflation up to 2.1 per cent in August
The estimate of eurozone inflation for August rose to 2.1 per cent Eurostat said on Friday 29 August, according to Associated Press.. The increase from 1.9 per cent in July was larger than expected.
Alan Greenspan defends worries about deflation
Opening a two-day conference on monetary policy sponsored by the Federal Reserve Bank of Kansas City, Alan Greenspan said on Friday 29 August that the Fed was right to worry about deflation even though the threat was remote as uncertainty remained "the…
European central banks call for respect on Pact
Central bankers from Poland, Hungary and the Czech Republic have called on euro-zone countries to respect the stability and growth pact fearing that growing demands for flexibility could undermine their own countries' efforts to join the euro, reports…