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Report questions virtues of inflation targeting
A study published by the National Bureau of Economic Research suggests that adopting an inflation target has no effect on a country's economic performance, according to a report by Dow Jones.
New York Fed's McDonough will attend May 6 FOMC
William McDonough will attend the Federal Reserve's May 6 meeting of the FOMC before taking up his position at the SEC, the Fed said on Wednesday 16 April, Reuters reports.
Perng says SARS unlikely to harm NT dollar
The SARS outbreak is unlikely to have a significant impact on Taiwan's economy. That was the view expressed by Central Bank of China governor Perng Fai-nan to Taiwan's finance committee on Thursday 17 April, reports the Central News Agency.
ECB officials give conflicting signals on rate cut
Speaking separately this week two ECB Governing Council members gave conflicting views on what a fall in inflation below the ECB's 2 per cent target would mean for interest rates, according to Bloomberg report.
BoJ can increase bank shareholdings
The Bank of Japan could increase its purchase of shares held by Japanese banks as part of its drive to protect them from falling stock prices, says BOJ governor Toshihiko Fukui as reported by Associated Press as
Looters strip Baghdad's banks of cash
Iraq's battered central bank has been ransacked many times by mobs of looters who hunt for any banknote not incinerated, reported Middle East Online.
The euro could help Iraq's economic recovery
In an article in the Financial Times Professor Steve Hanke says that to be successful, a currency reform plan in Iraq must be informed by the country's history, well crafted and available fast.
Mersch on reform of the ECB's Governing Council
In a speechon 'The reform of the Governing Council of the ECB' Yves Mersch of the Central Bank of Luxembourg said particularly important and heartening, in his eyes, after the Council's approval of the enabling clause was the fact that a handful of…
ECB's Solans on the international role of the euro
In a speech on 'The international role of the euro in a globalised economy' Eugenio Domingo Solans of the European Central Bank said the euro is firmly established as the second most important currency in global markets and that although the ECB sees the…
Ferguson on Check Clearing for the 21st Century
In testimony 'Check Clearing for the Twenty-first Century Act' Roger Ferguson of the Federal Reserve said although an increasing number of payments are being made electronically, it is clear that checks will continue to play an important role in the…
Welteke - A European perspective on world economy
In a speech on 'A European perspective on the world economy' Ernst Welteke of the Deutsche Bundesbank said uncertainty currently weighs on all debates on economic issues. Uncertainty is a feature we will have to live with for some time now, but we must…
Argentine peso dips amid monetary expansion talk
The Argentine peso has suffered amid slack demand for the U.S. currency as local investors have taken advantage of high interest rates of up to 25 percent offered on deposits, according to a report from Reuters.
Mexico's central bank net reserves, assets rise
The Bank of Mexico's reserves have risen just over $0.15 billion since the start of April, the bank said on Tuesday 15 April, according to Reuters.
Chilean Senate approves new Central Bank director
Chile's senate has approved the appointment of Vittorio Corbo to the board of directors of the Central Bank of Chile, according to a Reuters report. President Ricardo Lagos is widely expected to name him as the new central bank chief shortly.
LDP's Yamasaki says expects more steps from BOJ
A senior Japanese politician said on Wednesday 16 April he had confidence that the Bank of Japan would adopt new measures to boost Japan's ailing economy, Reuters reports.
Fed's McDonough to head new SEC accountancy board
US regulator the Securities and Exchange Commission has voted unanimously to appoint Federal Reserve Bank of New York president William McDonough as chairman of the accounting oversight board, according to a report by Associated Press.
Bank of Russia changes exchange rate mechanism
Russia's central bank has changed the procedure by which it establishes the rouble exchange rate with the dollar. Pravda reports that the bank will now use the average-weighted rate of the US dollar at the Unified Trading Session (UTS) of the inter-bank…
Slovak c bank's first quarter loss near prediction
The National Bank of Slovakia reported on Monday that it made a loss for the first quarter of 2003, acording to a report from TASR. The loss was mainly due to fluctuations in the koruna currency's rate.
Estonian c bank says gov't should balance budget
A report on Estonian Radio said that the president of the Baltic nation's central bank, Vahur Kraft, has told the ruling coalition that the budget must be balanced or investor trust will be lost.
The Regional Economist, April 2003
The Quarterly Review of Business and Economic Conditions, The Regional Economist, April 2003 edition from the St Louis Fed includes an article 'Is Confidence High?' Economic forecasters rely on monthly consumer confidence surveys to help them determine…
St Louis Fed's Poole on shocks and more shocks
In aspeech on 'Shocks and More Shocks' William Poole of the Federal Reserve Bank of St. Louis said despite multiple shocks in recent years, the U.S. economy will probably continue to grow. "I cannot guarantee that the modest economic growth rate of last…
Richmond's Broaddus on the economic outlook
In a speech J. Alfred Broaddus of the Federal Reserve Bank of Richmond said the Federal Reserve must be unusually vigilant on monetary policy given the extraordinary level of uncertainty about the US economic outlook. Broaddus also said that, in his…
Deutsche Bundesbank Monthly Report, March 2003
The Bundesbank said in its March 2003 monthly report that growth in overall output came to a halt in the fourth quarter of 2002 and the labour market situation deteriorated further around the turn of the year.
Central Bank of Barbados starts 2 day conference
The central bank of Barbados is holding a conference on corporate governance in the financial sector, the Jamaica Observer reported. The Bank said the conference was prompted by the "recent international corporate upheavals".