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Olson on the prospects for economic growth
In a speech on 'Assessing Prospects for Economic Growth in the United States' Mark Olson of the Federal Reserve said the recent news from oil and financial markets and about consumer confidence clearly suggests that the reduction in risks associated with…
BoJ Monetary Policy minutes, April 7 & 8
Minutes of the Bank of Japan's Monetary Policy Meeting on 7 and 8 April 2003, released 23 May. The majority of members agreed that it was appropriate to maintain the current stance in the guideline for money market operations, and continue to provide…
Fukui statement to the House of Representatives
In his statement concerning the Bank's Semiannual Report on Currency and Monetary Control Toshihiko Fukui of the Bank of Japan said the bank believes that the existing economic model, which supported Japan's postwar economic growth, needs to be replaced,…
Buba's Welteke rejects recession idea in interview
Bundesbank president Ernst Welteke said in a radio interview that Germany was simply in a "phase of mere stagnation" rejecting an IMF report that said the country was on the brink of recession, according to a broadcast by Deutsche Welle Radio.
China's banking regulator to set up advisory body
the New China News Agency reports that China's Banking Regulatory Commission said it intends to set up a non-profit international advisory committee made up of people in supervisory roles in internationally-renowned banks.
Bosnian banking agencies, central bank sign deal
Bosnia-Hercegovina Central Bank Governor Peter Nicholl signed a memorandum on cooperation and exchange of information in Sarajevo with banking agencies from Serbia and Bosnia-Hercegovina, reports the SRNA news agency.
NBP won't release its reserves for budget
The National Bank of Poland's governor said the bank will not yield to the request of finance minister Grzegorz Kolodko, who had called on the NBP to release part of its foreign currency reserve and transfer the money to the state budget, according to…
Brazil cb to maintain curent monetary policy
Brazil's central bank governor has said the bank will maintain its current stance on monetary policy despite the resignation of the director of economic policy, according to a report in the Wall Street Journal.
Gold bars worth $500m seized at Syrian border
A haul of 2000 gold bars was found during the routine inspection of a truck near the Syrian border, according to Reuters. The gold was estimated to be worth about $500 million and may have come from the Iraq central bank's reserves.
Turkey, Kazakhstan sign banking sector memorandum
Turkey's Banking Regulation and Supervision Agency and the central bank of Kazakhstan have signed a memorandum of understanding in the line of the joint goal of ensuring financial system stability, according to the anatolia news agency.
Iran: New central bank governor speaks on policy
Iran's recently appointed central bank chief Ebrahim Sheybani said Saturday the CBI will try to maintain more attentive supervision over monetary policies to better rein in inflation, reports the IRNA news agency.
ECB's Padoa-Schioppa: no danger of deflation
Tommaso Padoa-Schioppa of the ECB was quoted Monday as saying speculation over deflation was alarmist and that the central bank stands ready to act if necessary, according to Reuters.
Inflation is a bigger danger than deflation
An article in the Financial Times says that although the threat of global deflation has become a preoccupation for economic commentators there are signs of the loss of value of dollar money, which is a symptom of incipient monetary inflation.
Norges Bank Financial Stability Report No.1, 2003
The Central Bank of Norway, Norges Bank, has published its twice yearly Financial Stability Report 1/2003. In the report the bank said the outlook for financial stability is considered to be satisfactory, but somewhat weaker than six months ago.
Electronic Money System Security Objectives
Electronic money system security objectives according to the common criteria methodology, 23 May. The "Electronic Money System Security Objectives" (EMSSO) report, published on Friday, presents the expectations of the Eurosystem with regard to the…
Reserve Bank of Fiji - Annual Report 2002
The Reserve Bank of Fiji has published its Annual Report for the year ended 2002.
Issing on efficiency in financial institutions
In a speech on 'Efficiency in financial institutions' Otmar Issing of the ECB said sound central banking, but also banking in general and the business of savings banks in particular, must be based on long-term objectives. In this context, the monetary…
CentralBankNet Monday Special Feature
SPECIAL FEATURE - In this weeks CentralBankNet Special Feature Andrew Smithers discusses the economic solutions and political obstructions to reviving Japan's stagnant economy.
Olson says deflation possibility very low
Federal Reserve Governor Mark Olson said on Thursday 22 May thatthe Fed will continue to monitor the deflation situation very carefully "because we've seen the way deflation has hampered Japan's recovery".
RBA says it did its homework on credit cards
As the court action continues in Australia over the RBA's introduction of credit card reforms, the Sydney Morning Herald reports that the Reserve Bank's counsel has accused counsel for Visa and MasterCard of drawing selectively from documents in putting…
Dallas Fed official says deflation risk has risen
The top monetary policy advisor to the Dallas Fed president has said he and Robert McTeer agreed that the probability of deflation was "about one in four, or 25 percent", according to a report by Reuters.
Security fears keep IMF, World Bank out of Iraq
Speaking on Thursday 22 May, officials from the IMF and World Bank said they had not yet sent teams to Iraq as security concerns remain, according to Reuters. Teams are currently based in Jordan but aren't quite ready to move into Iraq, the World Bank…
ECB statements boost rate cut chances
Euro-zone central bankers gave what looked like strong hints on Friday 23 May for an ECB interest rate reduction in June, according to Reuters. The surging value of the euro which went through its launch level on Friday and data showing inflation…
Brazil's central bank head of economics resigns
The head of economic policy at Brazil's central bank, Ilan Goldfajn, resigned on Thursday 22 May, according to Associated Press, but denied the decision had anything to do with criticism the bank received at not cutting interest rates earlier in the week.