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No way to run the world's biggest economy
ARTICLE - The article says that the US economy needs a sizeable short-term stimulus to prevent deflation. While the Federal Reserve has led the way, the chronic shortage of saving in the US has reduced policy options, including the possibility of tax…
Mboweni delivers the bad news about rates
A warning by the South African Reserve Bank against hopes of an early interest rate cut was a timely signal to quell over-optimism in the market, economists said on Friday.
Bank of Israel accused of generating instability
Israel's Ministry of Finance on Thursday launched a fierce attack on the Bank of Israel, saying the central bank had failed to meet inflation targets and at times had a destabilising effect on the market.
Santomero on The Economic Outlook
SPEECH - In the speech 'The Economic Outlook - Technology on the Horizon' Anthony Santomero of the Federal Reserve Bank of Philadelphia said he expects 2003 to be a transition year for the national economy on the path to sustained expansion. Stimulative…
Dodge on Staying the Course
SPEECH - In the speech 'Staying the Course' David Dodge of the Bank of Canada said the current uncertainties will dissipate, and stronger growth will resume, provided we continue to pursue sound macro, trade, and structural policies. What is important is…
Gjedrem on monetary policy and the economy
SPEECH - In the speech 'Monetary policy and the economic situation' Svein Gjedrem of Norges Bank said the global fall in equity prices has also spread to the Norwegian stockmarket and spoke of "a close relationship" between equity prices in the US and in…
Backstrom on Financial Cycles
SPEECH - In the speech 'Financial Cycles' Urban Backstrom of Sweden's central bank said financial crises substantially increase the risk of outright deflation after some time. A central bank could manage this risk in two ways: by at least trying to…
Federal Reserve Board Press Release
PRESS RELEASE - Statement by Federal Reserve Board Chairman Alan Greenspan, 16 January.
Philadelphia Fed Business Outlook Survey, Dec 2002
REPORT - Growth in the region's manufacturing sector remains sluggish, according to firms surveyed for the December 2002 Business Outlook Survey. Although indexes for general activity and new orders remained positive for the second consecutive month,…
Federal Reserve Bank of New York Press Release
PRESS RELEASE - Federal Reserve Bank of New York President William J. McDonough announces intent to retire, 16 January.
Report names possible replacements for Hamalainen
A German newspaper has named two women as favourites in the race to succeed Sirkka Hamalainen on the Executive Board of the European Central Bank.
Yugoslav central bank chief complains of pressure
The National Bank of Yugoslavia Governor Mladjan Dinkic has spoken at a news conference about the economic problems associated with the position of the bank in the constitutional charter for Serbia and Montenegro.
Argentina defaults on IADB loan
Argentina said on Wednesday it could not repay a loan to the Inter-American Development Bank on time, adding the Washington-based multilateral lender to the growing list of institutions to which it has defaulted.
Fed anthrax scare proves false alarm
An anthrax scare at a Washington post office involving a letter destined for the Federal Reserve proved to be a false alarm, the Federal Reserve said.
Bangladesh orders bad debt write-offs
The Central Bank of Bangladesh has introduced a major economic initiative ahead of a general strike on Friday over rises in fuel prices.
Taiwan acts on banking reform
Taiwan's finance ministry is encouraging banks to clean up their balance sheets by offering streamlined product approval for those with non-performing loan (NPL) ratios of below 5 per cent.
Hot Topics from the Dallas Fed, January 2003
REPORT - The latest Hot Topic from the Federal Reserve Bank of Dallas, 'Can the World Economy Give Ours a Boost?' looks at whether we're going to see a surge in foreign economies that might pave the way for more growth in the United States. It discusses…
Federal Reserve Board - Beige Book, January 2003
REPORT - The Federal Reserve Beige Book released 15 January described economic activity across the US as remaining "sluggish" but also cited various, though modest, signs of a pick-up in activity, high-lighting scattered reports of a fragile turnaround…
RBNZ Vacancy : Head of Financial Stability
PRESS RELEASE - The Reserve Bank has established a new Financial Stability Department that integrates the work of our financial markets and banking system oversight teams. As a result the Bank is seeking to appoint a Head of Financial Stability,…
Reserve Bank of Australia Bulletin, January 2003
REPORT - Bulletin Statistical Tables, data updated to 8 January 2003.
Federal Reserve Press Release
PRESS RELEASE - The Federal Reserve Board today received results from further testing conducted by the State of North Carolina, under the guidance of the Centers for Disease Control. It showed no anthrax bacteria present on a sample from a piece of mail…
Reserve Bank of New Zealand Press Release
PRESS RELEASE - Reserve Bank coinage warning - The Reserve Bank today advised the public that some older 20 cent coins are temporarily causing confusion among some shoppers, 16 January.
Knight on monetary policy and economic performance
SPEECH - In the speech 'How Monetary Policy Contributes to Improved Economic Performance' Malcolm Knight of the Bank of Canada said from a central bankers perspective Canada's clear, transparent monetary policy, based on the inflation-control target has…
Bergstrom on monetary policy and wage formation
SPEECH - In the speech 'Monetary policy and wage formation' Villy Bergstrom of Sweden's central bank said the recent termination of one union's collective wage agreement will not necessarily constitute a threat to the inflation target. However, if other…