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Speech by W. McDonough, New York Fed Bank, 2 Jul
SPEECH - In a speech titled 'The importance of central bank independence in achieving price stability' McDonough extolled the virtues of central bank independence and reiterated the importance of maintaining price stability for an economy.
Reserve Bank of Australia Media Release
MEDIA RELEASE - Early release of cash rate information by Bloomberg, 3 July.
Confidence boosted as Japan shows recovery signs
JAPAN - Japan's export-led economic recovery fuelled a record improvement in sentiment among large manufacturers in a survey of business confidence. However the survey also highlighted the risk to Japan's economic health from the yen's recent rise…
Portuguese central bank report delayed by enquiry
PORTUGAL - The Portuguese central bank has delayed its 2001 annual report on the economy, due out yesterday, Monday, until September to await the results of an enquiry into the public deficit, a Bank of Portugal source said.
Trichet urges 'ambitious' reforms in France
FRANCE - Jean-Claude Trichet, the governor of the Bank of France, yesterday threw his weight behind efforts to reshape the centralised French economy with a call for "ambitious structural reforms".
Argentina central bank sees 11 bln pesos leaving
ARGENTINA - The central bank said it expects 11 bln pesos to be withdrawn from the Argentine financial system in the second half of 2002, daily newspaper Clarin reported.
Forecasters' vision clouds during turning points
US - Research by the Federal Reserve Bank of Atlanta on economic forecasts by The Wall Street Journal in the last 16 years showed that accuracy was low at crucial points of the economy, with forecasters missing out on the aggressive rate cuts of the…
Bank plans to unveil Islamic 'credit card'
UAE - National Bank of Sharjah (NBS), which enjoys the rare distinction of being the world's first and the only conventional bank to have converted into an Islamic bank, is planning to launch an Islamic 'credit' card, reports Gulf News.
Fed's McDonough - Price stability has many virtues
POLAND - In a speech extolling the virtues of central bank independence, Federal Reserve Bank of New York President William McDonough reiterated the importance of maintaining price stability for an economy.
Duisenberg steps up ECB anti-inflation rhetoric
GERMANY - European Central Bank President Wim Duisenberg on Tuesday warned against the risks of inflation, keeping markets guessing on the eve of a bank policy meeting about whether it would raise interest rates.
Central Bank of Austria - Annual Report 2001
ANNUAL REPORT - The Oesterreichische Nationalbank, Austria's central bank, has published its Annual Report for 2001.
Chicago Fed National Activity Index
REPORT - In May, the Chicago Fed National Activity Index increased to -0.07 from -0.28 in April. The index has been negative in 22 of the 23 months since June 2000. Released 1 July.
Bank of England News Release
NEWS RELEASE - The Dutch Legacy, Go Dutch at the Bank of England's Museum in Bartholomew Lane, EC2, 2 July.
ECB Working Paper Series, No 154
WORKING PAPER - The Euro bloc, the Dollar bloc and the Yen bloc: how much monetary policy independence can exchange rate flexibility buy in an interdependent world?, by Marcel Fratzscher, June 2002.
ECB Press Release
PRESS RELEASE - Publication of papers of the workshop 'The role of policy rules in the conduct of monetary policy', 1 July.
Banque De France - Annual Report 2001
ANNUAL REPORT - Introductory letter for the Annual Report of the Banque de France submitted to The President of the French Republic, The President of the Senate, The President of the National Assembly, by Governor Jean-Claude Trichet, Bank of France.
Study claims UK's 5 euro tests are already met
UK - The government's five economic tests for UK entry to the euro have already been met, according to a new academic study.
Hits and myths of Europe's new currency
ARTICLE - One industry lost out from the introduction of euro notes and coins six months ago: the doom-mongers, reports Monday's FT in London.
Higher inflation 'all pain and no gain'
ARTICLE - "By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens" - JM Keynes. Leftists often look to Keynes. So what's Finance Minister Michael Cullen's game in his…
Central Bank of Ireland, Summer 2002 Bulletin
REPORT - The Central Bank of Ireland published on Friday its Quarterly Bulletin for Summer 2002. The report highlights that economic activity in Ireland seems to have picked up modestly from its nadir in the third quarter of last year.
Pakistan tightens up rules on terror money
PAKISTAN - Pakistan is to announce new rules on Monday for tighter regulation of foreign currency dealers in an attempt to curb money laundering.