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IMF Working Paper Series
RESEARCH - The paper 'Why Do Many Disinflations Fail? The Importance of Luck, Timing, and Political Institutions' published on 15 January considers why so many inflation stabilizations succeed only temporarily. The authors, Javier Hamann and Alessandro…
IMF Working Paper Series
RESEARCH - In the paper 'Market Predictability of ECB Monetary Policy Decisions: A Comparative Examination' Kevin Ross tests the idea that surveys of the ECB's monetary framework emphasise the inability of financial markets to correctly predict monetary…
Minutes of Japan's Monetary Policy Meeting
MINUTES - Minutes of the Bank of Japan's Monetary Policy Meeting on 16 and 17 December 2002, released 27 January. Japan's Ministry of Finance pressured the BOJ to increase its monthly purchases of government bonds to two trillion yen ($16.97 billion)…
Bank of Japan Monthly Report, January 2003
REPORT - The Bank of Japan published its Monthly Report of Recent Economic and Financial Developments, January 2003, on 24 January. In its report the Bank maintained its assessment of the economy for the second straight month but warned of risks from…
ECB's Fazio thinks Iraq crisis will hurt recovery
European Central Bank council member Antonio Fazio said a war with Iraq, as well as increasing the chance of terrorist attacks, may hamper an economic recovery.
IMF says ECB shows mediocre market predictability
The International Monetary Fund has criticised the European Central Bank for confusing markets and said it was less predictable than its central bank peers, the U.S. Federal Reserve and the Bank of England.
GCC single currency 'need not be pegged to dollar'
The GCC single currency to be launched in 2010 will be pegged to only one currency - but it may not necessarily be the U.S. dollar, Sultan bin Nasser Al Suwaidi, UAE Central Bank governor said Sunday.
Koizumi moves away from inflation target idea
More LDP members oppose plans to have the Bank of Japan set price-increase goals. Japanese Prime Minister Junichiro Koizumi is shying away from promoting inflation targets to fight falling prices amid rising calls from within the ruling party for Japan…
Ukraine not to join Russian rouble zone - c bank
Ukraine is neither going to join the rouble zone nor has it received any relevant proposal from Russia, the chairman of the National Bank of Ukraine, Serhiy Tyhypko, has said in Moscow.
Hungarian central bank council member resigns
Gabor Oblath, a member of the National Bank of Hungary's rate setting Monetary Council will resign from his post Monday, the prime ministers office said.
Brazil's central bank chief 'slips up' in Davos
While central bankers sometimes make the odd slip up it is not usually meant literally. But the World Economic Forum in Davos spelt bad news for Henrique Meirelles who has slipped on ice and broken his ankle CentralBankNet hears.
ECB Press Release
PRESS RELEASE - Biannual information on the counterfeiting of the euro, 23 January.
IMF Press Release
PRESS RELEASE - IMF Approves Transitional Stand-By Credit Support for Argentina, 24 January.
Interview with Nobuyuki Nakahara
INTERVIEW - Currently an adviser to Japan's Financial Services Agency Nobuyuki Nakahara is a favourite to land the job of governor of the Bank of Japan in March. In the interview he said the introduction of a 1-3 per cent inflation target would serve as…
Interview with National Bank of Ukraine's Tyhypko
INTERVIEW - In an interview with Ukrainian TV the National Bank of Ukraine chairman Serhiy Tyhypko spoke of his first foreign visit as the NBU head to Moscow which he says will help to understand one of Ukraine's major trading partners better.
The next BOJ governor
ARTICLE - The article sets out some of the qualities the next governor of the Bank of Japan must have and says he should be selected with an eye to the future. But the door should be left open to all qualified persons, including ex-bureaucrats as well as…
Clearing risks
ARTICLE - Following the publication of the G30 report last week this article describes the report as both wise and practical and it will serve as a road map that the many actors from the private and public sectors can use to reach the common destination…
CentralBankNet Monday Special Feature
SPECIAL FEATURE - Information Technology plays a crucial role in modern central banking. In this weeks special feature CentralBankNet presents an exclusive interview with the Bank of England's Head of Information Technology, Andrew Brookes.
UK's pro-euro campaigners face tough task-report
A new report published by the Foreign Policy Centre suggests strong public backing for euro membership is unlikely to emerge for the foreseeable future unless there is a vigorous campaign for entry.
Belarus to adopt rouble for non-cash settlements
Belarus is going to adopt the Russian rouble for non-cash settlements from 1 July 2003 the chairman of the Belarusian central bank, Pyotr Prakapovich said.
Canada's Dodge warns of rising inflation
Bank of Canada governor David Dodge warned Thursday that inflation pressures are greater than expected and that the inflation rate could hit an 11-year high of 4.5 per cent this winter.
Central banks sign cooperation agreement
Greece's central bank governor, Nikos Garganas, and his Romanian counterpart, Constantin Isarescu, were due to sign in Bucharest Friday a memorandum of cooperation in the two countries' exercise of supervision competences over commercial banks operating…
Russian central bank may increase euro reserves
The Russian central bank, which has foreign currency reserves largely denominated in dollars, may increase its holdings of euros, deputy chairman Oleg Vyugin was quoted as saying.
Hayami, Japan's inflation target a reckless gamble
Japan's central bank governor Masaru Hayami said Friday the setting of an inflation target for Japan in an attempt to stop the long slide in prices would be a "reckless gamble". The comment comes at a time when the BOJ has faced pressure from some…