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Economic Review from the Atlanta Fed
The Federal Reserve Bank of Atlanta has published its Economic Review for the second quarter 2003. The latest edition includes an article titled 'Are On-Line Currencies Virtual Banknotes?'. This article examines the likely success or failure of on-line…
RBA information on open market operations
After consultation with financial market participants, the Reserve Bank of Australia (RBA) has decided to increase the range of information published regarding its open market operations, 19 June.
Nordic central banks conclude MoU memorandum
The Governors of the central banks of Denmark, Finland, Iceland, Norway and Sweden signed a Memorandum of Understanding (MoU) on financial crisis management at their meeting of 11 June in Iceland.
Swedish monetary policy and EMU
The Riksbank has published a brochure 'Swedish monetary policy and EMU' which elucidates a number of important, practical monetary policy issues that will arise if Sweden adopts the euro.
Riksbank new proceedures for discoloured banknotes
New routines for processing discoloured banknotes announced by the Sveriges Riksbank in consultation with banks, 12 June.
Sir Edward George's Mansion House speech
In his Mansion House speech Sir Edward George, Governor of the Bank of England said that in terms of the overall macro-economy the Monetary Policy Committee framework has served us well. Annual inflation - on the present RPIX target measure - perhaps…
Serdengecti on an overview of the Turkish economy
In a speech made in London Wednesday 18 June, Sureyya Serdengecti of the Central Bank of Turkey said formal inflation targeting will be adopted when conditions allow. Including a favourable internal environment, sustained fiscal discipline, reduction in…
PBOC unveils new currency policy committee
The People's Bank of China has unveiled its new currency policy committee, the Xinhua news agency reports. The committee will be chaired by Zhou Xiaochuan, governor of the Bank, with 12 other high-ranking economic and financial officials making up the…
Kansas City Fed gets approval to move to new HQ
President Thomas M. Hoenig of the Kansas City Fed said on Monday 16 June that the Federal Reserve had approved plans for an estimated $200 million project to build a new headquarters for the Federal Reserve Bank of Kansas City, according to the Kamsas…
ACU central bank governors tour software company
After a busy day of negotiations central bank governors of the eight countries in the Asian Clearance Union visited software major Infosys Technologies, according to The Hindu.
ECB Succession: Randzio-Plath welcomes judgement
Statement by the Chair of the European Parliament's Committee of Economic and Monetary Affairs Christa Randzio-Plath on the judgement in the Credit Lyonnais case, 18 June.
RBI deputy governor Kamesam gets 3-month extension
Reserve Bank of India deputy governor Vepa Kamesam's term has been extended to the end of September, according to a report by Business Standard. His two-year term was due to end in the last week of June.
Poland's fin min plans tough dialogue with c bank
Poland's new finance minister Andrzej Raczko has said he plans tough talks with the country's central bank, but he also sees room for agreement and understanding of both sides, according to Polish Radio.
France c bank strike may leave cash machines empty
Industrial action by staff at French central bank the Bank of France could leave ATMs short of notes, according to a report in Le Monde.
Nigerian cb denies governor's resignation
The central bank of Nigeria denied on Tuesday 17 June that its governor, Dr Joseph Sanusi, had resigned over price instability, according to the Vanguard website. A CBN spokesman said the governor was "thoroughly embarrassed" by the story.
Trichet acquitted in court, keeping ECB bid alive
The long running court case involving charges of falsifying accounts against Bank of France Governor Jean-Claude Trichet concluded on on Wednesday 18 June with his acquittal in a Paris court, Bloomberg reports. The verdict is likely to clear the way for…
Reconciling Bagehot with Fed's response to Sept 11
Walter Bagehot, an elder statesman of central banking theory, stated that central banks should lend money at penalty rates to prevent bank panics. Yet the Fed lent for next to nothing following 9/11. Why this departure from received central banking…
Bank of Japan Monthly Report, June 2003
The Bank of Japan published its Monthly Report of Recent Economic and Financial Developments, June 2003, on 13 June. In the report the BOJ said public investment is projected to follow a declining trend, and private consumption is likely to remain weak…
Duisenberg on the first lustrum of the ECB
In a speech on 'The first lustrum of the ECB' Wim Duisenberg of the European Central Bank said the Convention on the Future of Europe has not taken over our suggestion to incorporate somewhere in the text the notion of Eurosystem, which stands for the…
Ferguson on some issues for Basel II
In a speech on 'Basel II: Some Issues for Implementation' Roger Ferguson of the Federal Reserve said that Basel I must be replaced, particularly in a world whose financial markets are so interrelated that substantial difficulties at any one of the…
Bank of England MPC Minutes 4/5 June 2003
Minutes of the Bank of England's Monetary Policy Committee Meeting were released on 18 June for the meeting of 4 and 5 June 2003. The minutes showed that the MPC was split 6-3 in favour of maintaining interest rates at 3.75%. Kate Barker, Marian Bell and…
ECB public consultation announced
The European Central Bank has announced a public consultation aimed at improving the collateral framework of the eurosystem, 11 June.
Fed awards contract for bank data modernisation
Regulators award contract in first step to modernize and streamline how federal bank regulators collect, process and distribute quarterly bank financial reports, 17 June.
Interview with Bank of England's Stephen Nickell
UK inflation has peaked and will soon head lower, Bank of England Monetary Policy Committee member Stephen Nickell told Reuters in an interview on Tuesday 17 June. He also played down the importance of the government's plan to switch the Bank's inflation…