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US inflation low says Fed nominee Donald Kohn
USA - Federal Reserve Board nominee Donald Kohn said on Thursday that US inflation was "pretty darn low" and that the economy was looking healthy: "we are getting awfully close to some zone of price stability if we are not probably already in it".
IMF response to Lerrick-Meltzer proposals
REPORT - The IMF responds to the Lerrick-Meltzer proposal to involve the private sector in the resolution of financial crises. It ultimately concludes that their proposals 'would not be a valuable addition to the existing instruments of the Fund'.
IMF working paper on the Estonian currency board
RESEARCH - This IMF working paper reviews the introduction of the Estonian kroon under a currency board arrangement. It examines the economic impact of its introduction and its role in the early success of Estonia's transition to a market economy.
ECB Working Paper Series
RESEARCH - This paper develops a new Early Warning System model for predicting financial crises. It is shown that some EWS approaches can be subject to a 'post-crisis bias'. An optimal design of EWS models is suggested allowing policy-makers to make an…
BIS Operational Risk Data Collection, 4 June
RESEARCH - In May 2001, the Basel Committee on Banking Supervision launched a survey of banks' operational risk data. The Committee is now collecting data for the year 2001. This will include information on banks' operational risk losses and various …
Speech by Anne Krueger, Dep MD of the IMF, 6 June
SPEECH - Anne Krueger, First Deputy Managing Director at the IMF, gave a speech on 'Sovereign Debt Restructuring and Dispute Resolution' at the Bretton Woods Committee Annual Meeting in Washington DC on June 6. She talks of the progress made on the two…
Bundesbank Monthly Report, April 2002
REPORT - The Bundesbank has issued its monthly report for April 2002.
Speech by Eva Srejber, Dep Gov of Riksbank, 3 June
SPEECH - Second Deputy Governor of the Riksbank, Eva Srejber, gave a speech on the subject of 'Sweden and European integration' at the IBC Euroforum on 3 June. In this speech she discusses financial integration within the EU and how companies and…
John Hawke puts question mark over Basel Accord
USA - The Basel committee's attempts to finalise a new capital accord have been thrown into doubt in a speech by John Hawke, US Comptroller of the Currency, one of the US representatives on the committee. Speaking to a conference of commercial-sector…
Duisenberg flag furore
NETHERLANDS - The public furore about Gretta Duisenberg's apparent support for the Palestinian cause continues to escalate. After Mrs Duisenberg, the wife of Wim Duisenberg, the president of the ECB, displayed the Palestinian flag in her home in the…
Single currency for Russia and Belarus agreed
RUSSIA - Senior central bankers and politicians of Russia and Belarus have signed an agreement on cooperating towards the introduction of a single currency by 2005.
Law passed on Russian cb to weaken banking system
RUSSIA - The Russian State Duma has approved a revised version of the bill on the Central Bank of Russia (CBR). This decision will weaken the entire banking system according to finance minister Alexei Kudrin, since it does not allow the CBR to implement…
Bank of England leaves rate unchanged at 4%
UK - The Bank of England's Monetary Policy Committee has left its key lending rate unchanged at four percent for the seventh month running as it awaits concrete signs that the economy has shaken off its downturn.
Bundesbank to close 56 branches by 2007
GERMANY - The Deutsche Bundesbank has committed itself to cutting back on its operations which will involve shedding over 10% of its staff. It announced on Thursday that it would close down 56 of its smaller branches within the next five years, partly…
Speech by John Hawke, US Treasury Dept, 6 June
SPEECH - John D. Hawke, Jr., Comptroller of the Currency of the US Treasury Department and one of America's leading bank regulators, delivered a contraversial speech today titled 'The Road to Basel II: Good Intentions and Imposing Challenges' to the Risk…
ECB keeps rate rise on hold as expected
GERMANY - The European Central Bank on Thursday left interest rates unchanged as expected since euro zone recovery remains limp as well as the euro's rally helping to stifle inflation. The ECB's key refinancing rate remains at 3.25 percent, unchanged…
ECB monetary policy decision, 6 June
PRESS RELEASE - The ECB made its decision on monetary policy on 6 June, leaving rates unchanged.
Wim Duisenberg on ECB's interest rate decision
STATEMENT - Wim Duisenberg, president of the ECB, made an introductory statement to a press conference in Frankfurt on 6 June concerning the ECB Governing Council's decision to leave interest rates unchanged.
Bank of England maintains interest rates at 4.0%
PRESS RELEASE - The Bank of England's Monetary Policy Committee today voted to maintain the Bank's repo rate at 4.0%. The minutes of the meeting will be published at 9.30am on Wednesday 19 June.
Riksbank Inflation Report, June 2002
REPORT - Sweden's Riksbank has released its Inflation Report for June 2002. It provides a basis for monetary policy decisions and to make the Riksbank's deliberations known to a wider public.
Riksbank leaves repo rate unchanged at 4.25%
PRESS RELEASE - At its meeting on Wednesday, 5 June, the Executive Board of the Riksbank decided to leave the repo rate unchanged at 4.25 per cent. This decision, which will apply with effect from Wednesday, 12 June, is based on the picture of future…