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Brazil c bank warns inflation to stay high for now
The central bank of Brazil has said in the minutes from its most recent meeting that it expects the rise in inflation to fall back but risks remain that inflation will remain at "elevated levels".
US bank regulators differ on international rules
Roger Ferguson has supported Basel II saying we have no alternative but to adopt the accord as soon as possible. But the rules were described as being too complex and rigid for what is needed at the same hearing by the Comptroller of the Currency John…
Poland to use bank reserve for budget contribution
Poland's finance minister said on Friday that up to a third of central bank "revaluation reserves" could be used in Poland's contribution to the European Union budget.
Japanese MOF Press Release, 27 Feb
PRESS RELEASE - Statement of G-7 Finance Ministers and Central Bank Governors, 27 February.
UBS labels IMF as source of damaging statistics
The International Monetary Fund has been criticised by UBS Warburg for providing inaccurate data on the Philippines economy, according to a local newspaper report.
Chicago Fed National Activity Index, January 2003
REPORT - CFNAI Shows U.S. Economy Improved in January - In January, the Chicago Fed National Activity Index (CFNAI) moved above zero for the first time since last July. The January reading was +0.38, a substantial improvement from December and the…
Issing on the euro - a stable currency
SPEECH - In the speech 'The euro - a stable international currency' Otmar Issing of the European Central Bank said the brief history of the ECB is already a success story.
Bies on retirement savings, equity ownership
SPEECH - In the speech 'Retirement Savings, Equity Ownership, and Challenges to Investors' Susan Schmidt Bies of the Federal Reserve said the importance of longer-term trends in pension plans and equity ownership has been highlighted by tumbling stock…
Russia on course to join FATF
Following the recent FATF and G8 summits in Paris, CentralBankNet learns Russia looks set to join the Financial Action Task Force on money laundering (FATF) in June, less than a year after being removed from the organisation's blacklist of non…
Lomax named first woman deputy governor at B of E
Rachel Lomax was named the new deputy governor of the Bank of England for monetary policy on Thursday in a reshuffle of the MPC which also sees Richard Lambert joining the committee. The moves may be seen as a further shift towards hawkish leanings on…
Poland sets new inflation target
The Polish central bank has reduced interest rates and at the same time set a new inflation target. The move is aimed at guaranteeing Poland joins the euro zone at the earliest possible date of 2007.
US Fed's Ferguson backs new world bank rules
Roger Ferguson said on Thursday that criticism of the Basel II rules have not convinced the Federal Reserve that the agreement should be scrapped.
Greenspan on Aging global population
SPEECH - At a time when demographic factors are strongly affecting economic policy in many countries, Alan Greenspan yesterday told the Senate's Special Committee on Aging that at some point policy-makers will have to face up the fact that as the baby…
Trichet offers UK support on euro entry
Bank of France governor Jean-Claude Trichet has said he would welcome Britain's participation in the euro single currency at the earliest opportunity.
Kenyan central bank governor defends himself
The governor of Kenya's central bank has excused himself from blame in the Euro Bank case. Nahashon Nyagah said the central bank acted professionally in the case.
Regional Fed banks prepare for aging of the guard
ARTICLE - This article looks at a possible 'seismic' shift in the make up of the Federal Reserve's policy making board. Both the Richmond and San Francisco Fed governors are due to step down next year while Alan Greenspan may not stay beyond 2004.
IMF says expects rate hike in Canada
The IMF has said Canada may have to increase interest rates as the country is operating close to capacity and inflation presents an increasing danger.
Portugal sells gold to diversify reserves
Bank of Portugal sells gold for "diversification of the external reserves".
Bank of Portugal Press Release on gold
PRESS RELEASE - Banco de Portugal informs that during February 30 tons of its gold reserves were sold, 25 February.
Crow makes the case for higher interest rates
John Crow, the former Bank of Canada chief, suggested that interest rates could increase further as the Canadian inflation rate is close to the upper limit of its target.
New York Fed on Current Issues
RESEARCH - The February 2003 edition of the New York Fed's 'Current Issues in Economics and Finance' contains an article titled 'New York City's Economy before and after September 11'. An analysis of employment and income trends suggests that the…
Bank of England Press Release
PRESS RELEASE - The Chancellor of the Exchequer announced today, 27 February, that Rachel Lomax, Permanent Secretary at the Department for Transport, will become the Bank of England's Deputy Governor for Monetary Policy. She will succeed Mervyn King, who…
HM Treasury Press Release Feb 27 2003
PRESS RELEASE - Allsopp Review: Statistical requirements for monetary and wider economic policymaking, 27 February.
HM Treasury Press Release Feb 27, 2003
PRESS RELEASE - Bank of England appointments - The Queen has been pleased to appoint, under the Bank of England Act 1998, Rachel Lomax as Deputy Governor of the Bank of England (Monetary Policy), in succession to Mervyn King, 27 February.