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Outlook clouded but inflation to ease: ECB
Even though the war in Iraq has increased uncertainty somewhat the European Central Bank said on Thursday in its monthly bulletin that it expected inflation to drop back below its 2 percent target this year, according to Reuters.
Bank of England holds interest rates steady
As most analysts predicted, the Bank of England held interest rates steady at 3.75 on Thursday 10 April amid continuing uncertainty, reports the Financial Times.
ECB says 2003 growth rate hard to predict
The European Central Bank published its April 2003 Monthly Bulletin on 10 April. In the report the ECB said while a modest rate of growth should be expected this year, "the specific evolution of economic growth for the rest of this year is particularly…
Dinkic and Zivkovic hold 'constructive' talks
Serbia's national bank governor, Mladjan Dinkic, held what were described as constructive talks with the premier on Wednesday 9 April, according to a report by Beta News. . The finance minister also through his support behind Dinkic after the recent…
RBI to recall 15% of notes
According to central bank sources quoted by Reuters, the Reserve Bank of India plans to take up to 15% of banknotes out of circulation as part of its clean note policy
HKMA 's Cheque Imaging System
Live Operation of the Hong Kong Monetary Authority's Cheque Imaging and Truncation System, 10 April.
Greenspan on the Reagan legacy
In a speech on 'The Reagan Legacy' Alan Greenspan of the Federal Reserve said Ronald Reagan saw inflation as a danger, and as President, afforded my predecessor Paul Volcker the political support that is so essential to a central bank when its pursuit of…
ECB would benefit from fresh, intellectual honesty
A letter in the Financial Times supporting Paul de Grauwe's candidacy to replace Sirkka Hamalainen as a board member of the European Central Bank said "an intellectually honest academic with a strong sense of social duty" may be just what Frankfurt needs…
Fed's Ferguson- Basel II accord not 'set in stone'
Basel II is not set in stone said Roger Ferguson of the Federal Reserve on Wednesday, according to a Reuters Report, even though a third consultation paper summarizing the proposals is expected to be released in early May.
Ferguson on Basel II: A Realist's Perspective
In a speech on 'Basel II: A Realist's Perspective' Roger Ferguson of the Federal Reserve said the Basel II proposals represent a truly significant step in the evolution of bank regulation. "They are important and deserve your most thoughtful…
Polish Finance Ministry agrees over reserve funds
Poland's Ministry of Finance expects to come to an agreement with the national bank over the issue of revaluation reserve funds, according to a report from the PAP news agency. The Ministry of Finance has recently said that it plans to use around one…
Kazakh National Bank chief may resign over rouble
A report from the Interfax-Kazakhstan news agency claims that Grigoriy Marchenko, chairman of the National Bank of Kazakhstan is ready to resign if the Russian rouble is adopted as the single currency of Belarus, Kazakhstan, Russia and the Ukraine.
IMF: No devaluation, Eastern Caribbean CU sound
The Eastern Caribbean Currency Union was endorsed by a recent IMF meeting, the Antigua Sun reports. The Fund said that there was no need for the long standing dollar peg value to change, for now. But fiscal deficits must be reduced to prevent pressure…
Heikensten on monetary policy and potential growth
In a speech on 'Monetary policy and potential growth' Lars Heikensten of the Sveriges Riksbank said a high long-term growth rate is one of the most important objectives of economic policy. The Riksbank has earlier spoken of a potential growth rate in the…
Argentine gov't to withdraw quasi-currencies
An agreement reached on Thursday 10 April means that nine of the ten issues of quasi currencies can be removed from the system in Argentina, Associated Press said. The move which came during the currency crisis in the South American nation complicated…
Bank of Canada appoints Jenkins
The Bank of Canada announced the appointment of Paul Jenkins as Senior Deputy Governor in a press release, 9 April.
Hamalainen on the euro: making progress
In a speech on 'The euro: making progress' Sirkka Hamalainen of the European Central Bank said the euro has lived up to expectations and has delivered the internal price and financial stability that it was supposed to. On the indirect effects of the euro…
Budget: UK euro decision date set for June
In his annual budget address on Wednesday 9 April UK chancellor Gordon Brown said that the decision on whether Britain had passed the five euro entry tests would be made public by the first week of June, according to Reuters. He also praised the Bank of…
Strengthening of the US financial system
A Regulators Issue Interagency Paper on Sound Practices to Strengthen the Resilience of the U.S. Financial System was published on 8 April. The paper identified sound practices to strengthen the resilience of critical U.S. financial markets.
Nickell on poverty and worklessness in Britain
In a speech on 'Poverty and Worklessness in Britain' Stephen Nickell of the Bank of England said the economic forces underlying the increase in poverty in the UK are the significant shift in demand against the unskilled which has outpaced the shift in…
EC report casts doubt on eurozone benefits
The European Commission's spring forecast published on Tuesday 8 April said growth rates in euro member countries was lower than for EU members outside the single currency, the Financial Times reported.
Bank of Japan statement on securities purchase
Examination of Possible Purchase of Asset-Backed Securities by the Bank of Japan, 8 April.
Bank of Japan monetary policy meeting release
At its monetary policy meeting held on 8 April the Bank of Japan said continued uncertainty and geopolitical risks meant the Bank would provide liquidity when necessary to secure financial market stability.
Fed plans emergency economic rescue
With new fears of recession the Federal Reserve may be formulating an emergency economic rescue plan, accordintg to a report by Associated Press. The plan could involve three elements including lending massive amounts of money directly to commercial…