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Hayami - Towards a sustainable growth path
SPEECH - In the speech 'Towards a Sustainable Growth Path' Masaru Hayami of the Bank of Japan said that during his five years at the BOJ the Bank been exploring what a central bank can and cannot do in order to get Japan's economy back on track. He said…
Fukui appointed BoJ governor
Toshihiko Fukui was today nominated to replace Masaru Hayami as governor of the Bank of Japan. Prime Minister Koizumi's decision to appoint a conservative figure like Fukui has already been criticised for showing a lack of commitment to tackle deflation.
Economic Perspectives, First Quarter 2003
REPORT - The Federal Reserve Bank of Chicago has published its regular quarterly journal of in-depth articles reporting on the Bank's economic research for the Fourth Quarter 2002. This edition includes an article 'Inflation and monetary policy in the…
Sveriges Riksbank Press Release
PRESS RELEASE - Agreement between the Riksbank and Finansinspektionen on the division of labour with regard to financial stability, 24 February.
EU banking sector stability report
REPORT - The European Central Bank (ECB) released on 24 February a report on the stability of the EU banking sector. The report was prepared by the Banking Supervision Committee of the European System of Central Banks, which comprises representatives…
BofE Nickell: Financial market weakness to persist
In an interview Stephen Nickell of the Bank of England's Monetary Policy Committee said that the Bank's recent interest rate reduction was unlikely to trigger another round of rapid house price increases in the UK. Professor Nickell has regularly voted…
Report says Kanu MP's want CBK boss sacked
Apparently Kenyan MP's are calling for the removal of the central bank governor Nahashon Nyagah over his involvement in a bank collapse.
Duisenberg: ECB may cut rates further
Speaking at the weekend Wim Duisenberg suggested the ECB could cut interest rates further and said a weakened outlook for the euro zone economy could reduce inflationary pressures.
Japan warns on deflation at G7 meeting in Paris
With Japan continuing to suffer the effects of deflation, finance minister Shiokawa has warned that increased threats of war may make the prospect of deflation more serious for the world.
Bulgaria's central bank deputy governor resigns
Deputy governor Martin Zaimov has resigned from Bulgaria's central bank. The move was described as a surprise as Zaimov had been tipped by many to take over from the governor, who leaves the Bank this summer.
Bernanke on balance sheets and the recovery
SPEECH - In the speech 'Balance Sheets and the Recovery' Ben Bernanke of the Federal Reserve assessed whether there exist financial constraints that might impede the developing recovery in the U.S. economy. His sense, he said, is that the household and…
Sveriges Riksbank Press Release
PRESS RELEASE - Heikensten: Inflation rise expected to be temporary. Riksbank Governor Lars Heikensten spoke at a meeting organised by Hammarby bandy club on the subject of "Some monetary policy issues" on 20 February.
CentralBankNet Monday Special Feature
SPECIAL FEATURE - Worrying about asset price cycles is a popular pastime. Not surprising, when UK, French and German stock market indices are struggling to maintain half their peak levels. We won't even talk about Japan. But what, if anything, can be…
RBI issues risk management guidelines
In its guidelines on country risk management, the Reserve Bank of India has asked banks to address issues of identifying, measuring, monitoring and controlling country exposure risks in their country risk management policies.
Brazil's interest rate increase wins IMF support
The IMF praised Brazil's central banks decision to increase interest rates saying that the move will help control inflation.
Mexico cen bank sees inflation expectations ease
After a tightening of monetary policy Mexico's central bank has said inflation expectations have eased. The easing was sought before various wage bargaining negotiations began.
China to remain major foreign capital destination
The People's Bank of China says that although the risks challenging global economic recovery will have a negative impact on China's economic growth the country will retain its position as a major centre of foreign investment.
Tanzania's forgery proof notes finally copied
After Tanzania's central bank confidently claimed their new bank notes were impossible to forge one eye has inevitably been kept on the country's paper money. Now the BBC reports that that fakes are turning up in Dar-es-salaam.
Report says Israel's Sharon to oust central banker
An Israeli press report on Friday cast further doubt on David Klein's chances of remaining as governor of the Bank of Israel. The report says Israel's prime minister is likely to ask the governor to withdraw from his position in the next few days.
Gjedrem on economic perspectives
SPEECH - In the speech 'Economic perspectives' Svein Gjedrem of Norges Bank said in response to heightened uncertainty and fears of war, traditional safe havens for capital, such as the Swiss franc and gold, have become increasingly attractive. Gold…
Minutes from the Sveriges Riksbank Board meeting
MINUTES - Minutes of the Sveriges Riksbank Executive Board meeting on 6 February, published 20 February. The Board voted unanimously to leave the repo rate unchanged at 3.75%. The Board concluded that economic developments continue to be marked by the…
Sveriges Riksbank Press Release
PRESS RELEASE - Sweden in the European economy, 19 February. Deputy Governor of the Riksbank Lars Nyberg today spoke at Commerzbank Securities' capital market conference about Sweden's role in the European economy and the Riksbank's role in the EMU…
Philadelphia Fed Business Outlook Survey, Feb 2003
REPORT - Activity in the region's manufacturing sector was mostly flat, according to firms surveyed for February's Business Outlook Survey. Although one-third of firms reported higher new orders in February, one-fifth reported lower orders, and other…
Brazil raises rates to fight 'virus of inflation'
Brazil's central bank on Wednesday raised interest rates for the second time in a month to curb what new President Luiz Inacio Lula da Silva described this week as the "virus of inflation".