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Bell on six months on the MPC
SPEECH - In the speech 'Six Months on the MPC: A Reflection on Monetary Policy' Marian Bell of the Bank of England said Bell described the job of the MPC as a narrow and technical one limited to controlling changes in the overall price level. She said…
Why not a female Governor of the Bank of England?
ARTICLE - An interesting article looks at women in central banks and why so few make it to the top position. The article suggests central bankers like the power of knowing things which they can keep from the public but that women don't like playing that…
BoE's Bell - UK house prices may pose problems
Bank of England Monetary Policy Committee member, Marian Bell cautioned on Monday that rising house prices may be a problem for interest rate policy for some time yet but said the MPC can not address sectoral differences without jeopardising the…
ECB suggests relaxation of 3 pct deficit limit
With regular criticisms of the EU's stability and growth pact deficit ceiling of 3 pct of GDP, which several countries have exceeded the ECB is floating the idea of giving more leeway for EU candidate countries struggling to meet the targets so as not to…
ECB rate cut will boost confidence: Welteke
Following the ECB's half point interest rate cut to 2.75 percent last week, ECB council member Ernst Welteke has said the move should boost confidence and bring long term improvement in euro zone economies.
BOJ's Hayami wants increased securitisation
Bank of Japan Governor Masaru Hayami repeated Monday that policy in Japan should be focused on structural reform of the country's fragile financial sector, which he said is muting the impact of easy monetary policy.
BIS report says stock markets on uptrend
The world's financial and equities markets are heading higher, but the outlook for recovery remains uncertain with disturbing corporate and macroeconomic data, according to a Bank for International Settlements report released Monday.
ECB may redefine monetary strategy, price target
The European Central Bank is to re-assess its "two-pillar" monetary strategy next year amid signs that it is edging towards a more flexible approach to its price-stability mandate.
Ukraine president wants central bank chief sacking
After the recent failed efforts of Ukraine's president Leonid Kuchma to have the national bank governor dismissed from his job, we understand that he has again urged the Supreme Council (parliament) to relieve Volodymyr Stelmakh from his duties in order…
Central banks must be radical in post-bubble world
ARTICLE - An article asks how conservative central bankers can be turned into radical policy makers, suggesting the problem lies in persuading the public that central bankers really can change their spots.
Macfarlane - Statement to House of Representatives
SPEECH - In his opening Statement to House of Representatives Standing Committee on Economics Ian Macfarlane of the Reserve Bank of Australia said he sees Australian growth next year at almost 4 per cent. Inflation is expected to remain near the top of…
Sveriges Riksbank Inflation Report, No.4, 2002
RESEARCH - Sweden's central bank has published its Inflation Report for the Fourth Quarter 2002. In the report the Riksbank said inflation has fallen back since the spring, which supports their earlier assessment, and that inflation expectations are also…
Issing on stable prices and stable markets
SPEECH - In the speech 'Why stable prices and stable markets are important and how they fit together' Otmar Issing of the ECB discussed what is a reasonable definition of price stability and reminds us of its importance for overall economic performance…
CentralBankNet Monday Special Feature
SPECIAL FEATURE - While economists appear to be increasingly concerned with the possibility of deflation, the hideous reflection of an old enemy, central bankers have been reassuring us that the chances of a Japan style downward spiral are highly…
US Treasury secretary O'Neill resigns
President George W. Bush's economic team was in disarray on Friday after Paul O'Neill, US treasury secretary, and Lawrence Lindsey, White House economic adviser, announced their resignations.
B of E's George wary of Euro over-regulation
The governor of the Bank of England sounded a veiled note of caution about the European Union on Friday when he presented his vision of how European integration would move forward.
Argentine central banker offers resignation
Argentine President Eduardo Duhalde said on Friday he would talk to Central Bank chief Aldo Pignanelli next week about Pignanelli's offer to resign.
Turkish central banker determined to hit CPI goal
Turkey's new government has little opportunity to alter economic targets under a program of reforms backed by the International Monetary Fund, the country's central bank governor said in an interview Friday.
Brazilian inflation hits eight-year high
Inflation soared to an eight-year high in November, as Brazil's currency continued to weaken ahead of the transition to a new government next month.
Mexico central bank tightens monetary policy
Mexico's central bank tightened monetary policy to curb mounting inflationary pressures on Friday by increasing the amount of cash it holds back from the secondary money market.
ECB Press Conference
PRESS CONFERENCE - Duisenberg said that since the last rate cut there has been no abatement in the uncertainty on the euro zone economic outlook but more uncertainty than ever. This has increased concerns about the sluggishness of the economy. The half…
Parry on the Federal Reserve in the economy
SPEECH - In the speech 'The Role of the Federal Reserve in the Economy' Robert Parry of the Federal Reserve Bank of San Francisco said that with the Fed's policy action in lowering the target interest rate by half a percentage point the prospects for…
Trichet on monetary policy in 2003
SPEECH - In the speech 'Monetary policy in 2003' Jean-Claude Trichet of the Bank of France said it seems that the contribution of European countries to the economic prosperity of Europe at large might be sometimes underestimated, but the relative…
ECB rate cutting far too slow says report
ECB watcher David Begg had some harsh words to say on the ECB's recent performance, but offered a little sympathy for a central bank that is not allowed to take the credit when it deserves it.