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Stanley Fischer favourite to head NY Fed?
Sources close to the Fed say former IMF official Stanley Fischer could be favourite to replace William McDonough at the Federal Reserve Bank of New York, according to a Reuters report.
Banking reform in Singapore
Singapore's deputy prime minister and finance minister Lee Hsien Loong talked about banking sector reform, capital raising and foreign competition in an interview with The Banker magazine published 10 April.
Gordon Brown on current challenges to the IMF
Statement by Rt Hon Gordon Brown, United Kingdom International Monetary and Financial Committee, Washington D.C., 12 April 2003.
Bank of Japan Monthly Report, April 2003
The Bank of Japan published its Monthly Report of Recent Economic and Financial Developments, April 2003, on 10 April. In the report the BOJ acknowledged that economic activity remained flat. But it was more upbeat about business investment and said…
Ireland's Hurley - A central banker's perspective
In a speech on 'A central banker's perspective of the Irish and international economic situation' John Hurley of the Central Bank of Ireland said the world economy is currently labouring, particularly in regard to asset markets and the geopolitical…
Fed's Poole on labour market and economic growth
In a speech on 'The Labor Market and Economic Growth' William Poole of the Federal Reserve Bank of St. Louis said although job creation in the current economic recovery has been nil, he is optimistic about the prospects for future growth of the US…
CentralBankNet Monday Special Feature
SPECIAL FEATURE - Georgia, a small low-income economy dependent on exports to Turkey and Russia, burdened with the legacy of ethnic conflicts, high external debts and low economic literacy, has nevertheless made striking progress in one important…
Mexico c bank keeps monetary policy unchanged
The Banco de Mexico maintained its current monetary policy stance at its meeting on Friday April 11, Reuters reports. The annual inflation rate at the end of March was 5.64 percent, exceeding the central bank's goal of 3.0 percent.
Decision on Bank of France restructuring expected
The decision on what form the planned restructuring of the Bank of France's network of branches will take is to be announced on 28 April, according to Le Figaro.
Iran president to form 'coordinated' economic team
Iran's parliament praised the successes of the late central bank governor, Mohsen Nurbaksh and pledged to find a successor as soon as possible, the IRNA news agency reports. A government spokesman said that the President intends to form a coordinated…
Travelex loses court battle over euro symbol
Following the court action by British bureau de change Travelex, a verdict was reached on Thursday 10 April, according to Business & Finance. Travelex claimed that they owned the "€" euro symbol, had used it since 1989 and that the ECB's use of it…
Ukraine's central banker eyes presidency
The Ukrainian newspaper Ukrayina Moloda, reported on Thursday 10 April that central bank president Serhiy Tyhypko, who has not held the job for more than six months, may be in line for a role in the 2004 presidential campaign - as a candidate.
Fed's Poole: Central bank can be patient
St Louis Fed chief William Poole was reported by Reuters to hacve said hat even though the Federal Reserve is under some pressure to make further cuts in interest rates, markets will automatically compensate by discounting longer term rates taking some…
Russian central bank invites banks to talk back
the Moscow Times reports that Russia's central bank has started a discussion forum on its web site which aims to establish dialogue with the banking community and improve the quality of central bank decisions.
Are Asian central banks easing up on derivatives?
An article, first published by Reuters, looks at the relaxation of restrictions on credit derivatives in Asian markets by central banks. Although these countries have traditionally blocked such instruments for fear of harming their exchange rates looser…
C bank criticism casts doubt on Polish reforms
Poland's fiscal restructuring plan may run into problems after central bank President Leszek Balcerowicz criticised the finance ministry's reform blueprint, according to a report in the Financial Times. The finance ministry said the central bank would be…
Slovak central bank favours quick EMU entry
The National Bank of Slovakia will push for the country's earliest possible entry into EMU, according to a report by TASR. Speaking at a conference on Wednesday the Bank's vice-governor said the central bank was cooperating with the finance ministry on…
IMF World Economic Outlook, April 2003
The International Monetary Fund has published its twice yearly World Economic Outlook report for April 2003. In the report the IMF said the global economic recovery will remain slow and uncertain even after the war with Iraq, and will be dangerously…
Central Bank of Iraq - Looters try vault break in
British television on Thursday April 10 broadcast a report from inside the Central Bank of Iraq. A reporter was shown walking amongst upturned desks and debris with papers scattered everywhere and no sign of any staff.
RBA's Glenn Stevens on inflation targeting
In a speech on 'Inflation Targeting: A Decade of Australian Experience' Glenn Stevens of the Reserve Bank of Australia said inflation targeting has been a successful model for monetary policy in Australia. It has been associated with lower, less variable…
Minutes of Japan's Monetary Policy Meeting
Minutes of the Bank of Japan's Monetary Policy Meeting on 4 and 5 March 2003 were released on 11 April. A member of the Policy Board said that the central bank could adopt operations that influenced asset prices as a way of boosting the economy.
Court to rule on euro symbol ownership
A court was due to rule on Thursday April 10 whether the ECB owns the "€" symbol representing the euro, reports Business & Finance. British company Travelex claimed the use of the logo was a blatant rip off of its own logo, which it has used since 1989.
Inside the Central Bank of Iraq
A website ArchNet, intended for architects interested in the Islamic world, contains photographs of the Central Bank of Iraq. The site says "The bank is housed in a cubical building with few exterior openings, and is organised around an inner courtyard…
ECB should tolerate higher inflation - IMF report
The IMF's semi-annual World Economic Outlook report released on Wednesday 9 April urged the ECB to loosen its inflation target slightly to help stave off the threat of deflation for weaker eurozone economies such as Germany, according to Reuters.