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Bush in favour of another term for Greenspan
US president Bush has said he backs Alan Greenspan for reappointment as chairman of the Federal Reserve. Bush is quoted by the Financial Times as telling reporters "I think Alan Greenspan should get another term".
Greenspan's surgery successful, says US Fed
Federal Reserve chairman Alan Greenspan has undergone surgery. The Fed said on Tuesday April 22 that the operation was successful and he should be back in his office later this week, according to a Reuters report.
Fed's Parry: Fed has room to cut rates if needed
San Francisco Fed president Robert Parry, a voting member of the FOMC, has said the Federal Reserve still has room to lower interest rates "if things weren't coming together in the economy", according to Dow Jones.
Mexico to auction $32 m per day in reserves
The Bank of Mexico intends to sell part of its reserves each day for the next three months in a move designed to stem the growth of its international reserves, according to a report by Reuters.
EU central bankers may face EFC sidelining
A proposal has been made to exclude central bankers from some discussions of the influential Economic and Financial Committee (EFC), according to a report from Online. The proposal is designed to prevent the EFC from becoming unwieldy after 10 more…
Japan's PM says 1-2 % inflation good for economy
Junichiro Koizumi said at the weekend that rises of around one to two per cent annually would benefit the economy and price falls are not "desirable", Reuters reports.
Riksbank's Persson on monetary policy
In a speech on 'Monetary policy and labour supply' Kristina Persson of the Sveriges Riksbank said monetary policy cannot directly affect production's potential, long-term growth rate. However, it can indirectly lay the foundation for a good development…
Moskow on US economy and corporate governance
In a speech on 'Breaking Down the Breakdown of Corporate Governance: Incentives, Information, and a Rational Course for Policy' Michael Moskow of the Federal Reserve Bank of Chicago said the long-term prospects for our economy are bright. The U.S…
Bank of England MPC Minutes 9/10 April 03
Minutes of the Bank of England's Monetary Policy Committee Meeting were released on 23 April for the meeting of 9 and 10 April 2003. The minutes show that MPC members voted 7-2 in favour of maintaining interest rates at their current levels. Christopher…
Research themes at the Bank of Canada, 2003
The Bank of Canada presents a summary of major research themes for 2003. Studies will continue on various aspects of inflation dynamics including extensions to earlier work on New Keynesian Phillips curves and developing more sophisticated approaches to…
UK ministers may fight Brown on euro vote
According to the Financial Times, a member of Tony Blair's cabinet has indicated his determination to oppose any attempt by the chancellor to rule out a referendum on the euro by saying publicly the pound had fallen to levels that would make British…
Bank of France to get public service contract
A draft contract covering the Bank of France's public service obligations for the period 2003-2006 has been drawn up, according to Le Monde. This is the first such contract to be drawn up by the central bank and the state.
Central bank of Kenya to remove illegal accounts
Kenya's central bank plans to crack down on illegal accounts and secret banking services, according to a report in The Nation. The governor said the bank was fully aware of the practice and was "developing thoughts" on how to eliminate it.
Duisenberg to stay at ECB until successor ready
ECB president Wim Duisenberg has formally agreed to stay on at the euro zone central bank until a successor is ready to take over the role, according to a Reuters report.
S.Korean law makers push for central bank autonomy
Lawmakers in Korea aim to give the central bank more independence from the government, according to an article in The Korea Times. But the move could be opposed by the finance ministry which feels that policy cooperation is as important as independence.
Turkey: cb governor briefs cabinet re Iraq
The governor of the central bank of Turkey has briefed the Council of Ministers on the economic situation and the impact on the Turkish economy of the recent conflict in Iraq, according to a report on TRT 2 TV in Turkey, Reduced uncertainly, he said,…
Iran c bank chairman to be appointed on 27 April
Iran's finance minister will announce the name of the new governor of the central bank of Iran at a Sunday session of the cabinet meeting to be held 27 April, according to the IRNA news agency.
Thailand's central bank keeps its key rates steady
The Bank of Thailand kept its main interest rate unchanged on Monday 21 April at 1.75%, acording to the Bangkok Post. An assistant governor of the central bank said the impact of the Sars virus on the economy remained uncertain.
Ukraine's Tyhypko sums up 100 days in office
The chairman of the National Bank of Ukraine, Serhiy Tyhypko, has spoken of his first 100 days in office, reports the Zerkalo Nedeliu website, Kiev. He said it was "difficult to give a definitive answer" when asked whether he would be involved in the…
UK tests for joining the euro
An article in the Financial Times suggests the UK government's assessment of whether the economic tests for membership of the euro have been passed will be important, even though it is widely expected that the tests will not have been passed. The…
Ferguson on the Check Truncation Act
In testimony on the Check Truncation Act Roger Ferguson of the Federal Reserve said the Board believes that, over the long run, the concepts embodied in the Check Clearing for the 21st Century Act will spur the use of new technologies to improve the…
Philadelphia Fed Business Outlook Survey, Apr 2003
The region's manufacturers report weaker activity for the second consecutive month in April's Business Outlook Survey from the Philadelphia Fed. Indexes of general activity, new orders, and shipments all declined this month. Firms surveyed also reported…
Norges Bank's Gjedrem on the Norwegian economy
In a speech on 'Monetary policy, inflation and the outlook for the Norwegian economy' Svein Gjedrem of Norges Bank said in spite of the interest rate cuts and a stimulatory central government budget, overall economic policy has been tight because the…
Russian Fin Min: Inflation target will be hit
The Russian finance ministry has said it expects inflation to remain under its 12 per cent target for 2003, according to the Moscow Times.