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Inter-American Development Bank Press Release
PRESS RELEASE - IDB Board of Governors re-elects Enrique Iglesias to lead institution, 8 November.
Central Bank of Brazil Working Paper
RESEARCH - The paper 'Inflation Targeting in Brazil: Lessons and Challenges' by Andre Minella, Paulo Springer de Freitas, Ilan Goldfajn and Marcelo Kfoury Muinhos assesses the first three years of the inflation-targeting regime in Brazil adopted in July…
BIS Press Release
PRESS RELEASE - BIS opens Representative Office for the Americas, 11 November 2002.
RBA Statement on Monetary Policy, November 2002
REPORT - The Reserve Bank of Australia released its November 2002 Statement on Monetary Policy on 11 November. In the statement the RBA divide the year into two distinct phases with emerging optimism characterising the first half. However the second…
Minutes of the Federal Open Market Committee
MINUTES - The Federal Reserve on 7 November released the minutes of its FOMC meeting of 24 September. Gramlich and McTeer dissented from the vote to hold rates constant, preferring to ease monetary policy at this meeting. The Committee believed that the…
Bernanke - Milton Friedman's Ninetieth Birthday
SPEECH - In the speech 'On Milton Friedman's Ninetieth Birthday' made on 8 November, Ben Bernanke of the Federal Reserve said to the assembled guests including Milton Friedman that the Federal Reserve takes responsibility for the Great Depression, "You…
CentralBankNet Monday Special Feature
SPECIAL FEATURE - The Federal Reserve boldly sliced half a point off interest rates last week but the Bank of England and ECB held firm. In this weeks Special Feature CentralBankNet looks at how the markets reacted to the decisions and whether the…
The SEC's new start
ARTICLE - To paraphrase Winston Churchill, Harvey Pitt did the honourable thing this week. But only after he had exhausted every possible alternative.
A new policy divide across the Atlantic
ARTICLE - Their analysis was so similar: the US Federal Reserve said on Tuesday that "inflation and inflationary expectations remain well contained"; Wim Duisenberg, the European Central Bank's president, concurred yesterday when he talked about "reduced…
UAE concession to foreign banks
UAE - Foreign banks in the United Arab Emirates are to receive a concession under a new central bank law to be issued early next year.
Argentina and IMF at odds over payment
ARGENTINA - Argentina and the International Monetary Fund remain some distance apart in negotiations over an agreement that would make it easier to make a $805m debt payment due to the World Bank next week.
Central bankers do it their way
ARTICLE - It is as well that central bank actions are not co-ordinated. The US Federal Reserve has a clear bias towards stimulus and preventive action, as its half-point cut in interest rates this week shows.
ECB Press Conference
PRESS CONFERENCE - Introductory statement by Willem F. Duisenberg, President of the European Central Bank, Lucas Papademos, Vice-President of the European Central Bank, with a transcript of the questions and answers, Frankfurt, 7 November 2002.
World Bank backs more powers for Bangko Sentral
PHILIPPINES - The world Bank favours the legislation of stronger powers for the Bangko Sentral ng Pilipinas to intervene in cash-strapped banks as part of further reforms to improve the country's regulatory and supervisory framework.
Central Bank of Kenya to be sued
KENYA - The National Social Security Fund (NSSF) yesterday took the Central Bank of Kenya (CBK) to court seeking to recover over Sh258 million.
SAMA warns of attempts to forge Saudi riyal notes
SAUDI ARABIA - The Saudi Arabian Monetary Agency (SAMA) has cautioned the public against attempts by some gangs to forge Saudi currency notes. It said the central bank, with the help of law enforcement agencies, has taken added security measures to…
A government move to clean up loans backfires
ARTICLE - China's four asset-management companies are supposed to be the cutting edge of the government's strategy to clean up the banking system. They may, in fact, end up doing more harm than good--by posing a threat to the health of the body that…
ECB chiefs wife stirs Middle east passions
ARTICLE - When Gretta Duisenberg hung a Palestinian flag from her balcony, her neighbour wrote her a polite complaint. When she agreed to head an organization called "Stop the Occupation," the criticism grew louder.
BOK Governor Park to attend BIS meeting
KOREA - Bank of Korea (BOK) Governor Park Seung is leaving for Mexico today to attend the Bank for International Settlements (BIS) governors meeting scheduled for 10-12 November in Mexico City, the central bank announced yesterday.
Curb inflation, not economy - Tito Mboweni
SOUTH AFRICA - Central bank governor Tito Mboweni sent a strong signal on Thursday that interest rates may have peaked, saying the fight against inflation must not jeopardise the health of the overall economy.
Barbados c bank publishes new e banking guidelines
BARBADOS - The Central Bank of Barbados has published new guidelines for electronic banking in the island.
Bies-Fed monitoring commercial real estate, credit
US - The U.S. Federal Reserve is monitoring rapidly growing vacancy rates in commercial real estate and a surge in consumer credit, Fed Gov. Susan Bies said on Thursday.
Latvia ok's new gov't headed by ex-central banker
LATVIA - Latvia's parliament gave its approval Thursday to a new government headed by former Central Bank president Einars Repse, who vowed to stop corruption in the ex-Soviet Baltic republic.
Bank of Canada Working Paper
RESEARCH - Bank of Canada Working Paper by David Andolfatto, Scott Hendry, and Kevin Moran, October 2002. Various measures indicate that inflation expectations evolve sluggishly relative to actual inflation. In addition, they often fail conventional…