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Cleveland Fed President Jordan to retire
US - Jerry L. Jordan announced on Tuesday that he plans to retire as president of the Federal Reserve Bank of Cleveland effective 31 January, 2003.
Minutes of the Federal Open Market Committee
MINUTES - The Federal Reserve Board on Wednesday released the minutes of its discount rate meetings from 1 April to 6 May. "No sentiment was expressed in favor of an increase in the discount rate," the April 29 minutes said. The language in the May 6…
Speech by David Carse, HKMA, 11 July
SPEECH - In the speech 'Enhancing Deposit Protection in Hong Kong' Carse said that his objective was to explain the thinking behind the decision to introduce deposit insurance in Hong Kong and to describe the main design features of the proposed scheme…
IMF Press Release
PRESS RELEASE - IMF Managing Director Horst Kohler Announces Advisory Group on Argentina, 10 July.
Oversight standard for euro retail payment systems
REPORT - European Central Bank Document for public consultation, 8 July.
European Central Bank Consultation Announcement
ANNOUNCEMENT - Oversight standards for euro retail payment systems, 8 July.
Research paper from the HKMA
RESEARCH - Research papers on economic and financial subjects prepared by staff members in the Research Department of the HKMA. "Price Convergence between Hong Kong and the Mainland" by Jiming Ha and Kelvin Fan, June 2002, published 11 July 2002.
ECB Monthly Bulletin, July 2002
REPORT - The European Central Bank published its July 2002 Monthly Bulletin on 11 July. The ECB reiterated its current wait-and-see stance on interest rates, saying inflation remained a concern but mixed signals about the state of the euro zone economy…
Speech by T Padoa-Schioppa of the ECB, 10 July
SPEECH - In a speech titled 'EU structures for financial regulation, supervision and stability' to the Committee on Economic and Monetary Affairs of the European Parliament, Padoa-Schioppa said "intellectually" a single, pan-European financial services…
ECB Press Release
PRESS RELEASE - Allotment amount of the longer-term refinancing operations in the second half of 2002, 10 July.
MPs will quiz Brown on euro entry tests in autumn
UK - Gordon Brown is to face a Commons inquiry into the Treasury's five economic tests for euro entry after a hard-fought battle by opposition MPs to get the issue on the agenda.
IMF and World Bank collaborate closely
LETTER - Letter published in the Financial Times on Wednesday from a former Deputy Managing Director of the IMF. P.R. Narvekar describes Joseph Stiglitz criticism of the IMF as "baseless and vicious".
Eurosystem currency reserves unchanged this week
GERMANY - The European Central Bank said eurosystem net foreign currency reserves were virtually unchanged at 232.6 mln euro in the week ending 5 July.
Poland's central bank chief 'in the line of fire'
POLAND - The Polish owner of a shooting range has found himself in trouble over images of the central bank governor's face which have been used as targets.
Trichet backed as Duisenberg's successor at ECB
GERMANY - Edmund Stoiber, currently leading to race to become German chancellor, issued strong backing for Bank of France governor Jean Claude Trichet as the best successor to Wim Duisenberg as European Central Bank president. Paris prosecutors recently…
UAE central bank reports surge in national staff
UAE - The UAE's central bank reported a surge in the number of its national workers as it presses ahead with a job nationalisation drive to ease reliance on foreigners.
Polish c bank's new duties may be unconstitutional
POLAND - The Constitutional Tribunal is likely to judge the planned amendments to the legislation regulating the duties of Poland's central bank unconstitutional, claims Mieczyslaw Czarniawski, head of the parliamentary Public Finance Committee.
Yugoslavia to issue €4.1bn of bonds
YUGOSLAVIA - Yugoslavia is set to issue €4.1bn worth of bonds in early August as part of its domestic debt settlement, which could pave the way for the creation of a liquid debt market, a Yugoslav central bank official said.
OECS undertakes economic restructuring programme
EASTERN CARIBBEAN - The governor of the Eastern Caribbean Central Bank (ECCB), Sir Dwight Venner, says several activities are underway in the Eastern Caribbean to help the sub-region address serious economic difficulties.
BIS Press Release
PRESS RELEASE - Basel Committee reaches agreement on New Capital Accord issues, 10 July.
Speech by Wim Duisenberg, ECB President, 5 July
SPEECH - In his opening remarks to the International Research Forum on Monetary Policy Duisenberg said we have issues to address at the Forum which are at the heart of monetary policy-making, and which are of great relevance to central bankers worldwide.
Speech by Eva Srejber of Sveriges Riksbank, 9 July
SPEECH - In the speech titled 'Inflation targeting and bubbles' Srejber said "there are many indications that the real economy effects of the severe stock market fall will be limited". But cautioned that, "it is not possible to write off the risk of…
Speech by Otmar Issing of the ECB, 5 July
SPEECH - In a speech titled 'Some reflections on handling monetary policy in a global environment' Issing said that coordinated policy action by central banks of the type seen after the September 11 attacks would likely remain limited to exceptional…
Speech by H Kohler, Managing Director, IMF, 5 July
SPEECH - In a speech to the Central Bank Governors' Symposium titled 'Reform of the International Financial Architecture: A Work in Progress' Kohler acknowledged how much we depend on central bankers in our member countries. "Every day, you have to take…