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European Parliament Press Release
PRESS RELEASE - ECB President warns States to stick to Stability Pact, 21 May.
Testimony of Wim Duisenberg, ECB President, 21 May
TESTIMONY - In testimony on Tuesday Duisenberg told members of the European parliament that he wanted to stress forcefully that all euro-zone states had to respect their commitment to remove public deficits by 2003 or 2004.
Bank of Japan Discussion Paper Series
RESEARCH - Institute for Monetary and Economic Studies, Bank of Japan, Pricing-to-Market (PTM) and the International Transmission Effect of Monetary Policy: The 'New Open-Economy Macroeconomics' Approach by Akira Otani, May 2002.
Bank of Japan Discussion Paper Series
RESEARCH - Institute for Monetary and Economic Studies, Bank of Japan, 'Do Currency Regimes Matter in the 21st Century?' An Overview by Hiroshi Fujiki and Akira Otani, May 2002.
Bank of Japan Monetary Policy Meeting
PRESS RELEASE - At the Monetary Policy Meeting held today, 21 May, the Bank of Japan decided, by unanimous vote, to maintain the following guideline for money market operations for the intermeeting period:
Testimony of Fed Reserve's, Louise Roseman, 17 May
TESTIMONY - In testimony titled 'The golden dollar coin' to the Subcommittee on Treasury and General Government Roseman describes the Federal Reserve's role in coin distribution and its activities in supporting the golden dollar coin.
Swiss fight for banking secrecy
SWITZERLAND - Swiss officials are digging in to defend secrecy laws synonymous with the country's huge banking industry before talks with the European Union expected in June.
Aznar urges Argentina to bite IMF bullet
SPAIN - Spain's prime minister bluntly urged debt-strapped Argentina on Friday to take "painful decisions" and secure a deal with the International Monetary Fund as fast as possible.
Fed proposes role change as emergency bank lender
US - The Federal Reserve yesterday proposed a change in its capacity as lender of last resort, essentially suggesting that credit markets have more of an influence in determining its lending rate on emergency loans to cash-strapped banks.
Policy flaw at heart of the ECB
FEATURE - Keynes eroded the firmly-held idea that there were mysteries about central banking which justified secrecy about how it was meant to work. The process of erosion has taken a long time. This article was written by Professor Sir Alan Peacock in…
Brazil central banker dampens rate cut talk
BRAZIL - Brazil Central Bank President Arminio Fraga on Friday watered down his own remarks on the possibility of future interest rate cuts, just as the market was doubting any such decision next week.
Dissenters are becoming dying breed at the Fed
FEATURE - It appears the imposing figure of Alan Greenspan at meetings of the US Federal Reserve is more than enough to persuade other members to keep their mouths shut. Report from Bloomberg news agency, New York.
Europeans aim for joint rate rises
UK - Europe's central banks are set to raise interest rates simultaneously on 6 June, say leading economists. The Bank of England, the European Central Bank and the Swedish Riksbank are likely to hike rates at their respective policy-making meetings in…
BOJ expected to keep same policy
JAPAN - Japan's economy may be showing signs of emerging from its worst postwar downturn, but analysts expect the Bank of Japan to be alert to risks the U.S. upturn may lose momentum and send Japan deeper into recession.
US aid for Philippine money laundering campaign
US - The US Agency for International Development is to extend assistance to the Philippines' campaign against money laundering, the US embassy said Monday.
Central bank they deserve
LETTER - Letter to the Financial Times published in the US edition 18 May. From Anthony Gould, New Jersey.
Facing up to a post-Greenspan future
FEATURE - With every change of personnel at the Federal Reserve comes renewed speculation about what the institution will look like once Alan Greenspan, its revered chairman, finally departs.
Speech by Fed Reserve Governor Mark Olson, 17 May
SPEECH - In a speech titled 'Financing Options for Small Business' Olson said that it was known that small business plays a substantial role in the overall economy.
Speech by T Padoa-Schioppa of the ECB, 20 May
SPEECH - In a speech titled 'Self vs. public discipline in the financial field' and made on 20 May (but only just published) Padoa-Schioppa discussed the evolution of the methods of financial regulation towards using industry standards and process…
Speech by Wim Duisenberg, ECB President, 16 May
SPEECH - Duisenberg said in a speech titled 'Challenges to the ECB's monetary policy' that he believes all the institutional preconditions for a stable currency and macroeconomic success are in place in Europe today.
Speech by Wim Duisenberg, ECB President, 9 May
SPEECH - The European Central Bank president was in Aachen, Germany, today to receive the annual international Charlemagne prize. But Duisenberg's aides rush to make clear that Aachen's city fathers have not actually chosen an individual this year but a…
Outgoing MPC member criticises B of E rates record
UK - The Bank of England would have delivered a significantly more impressive performance on both growth and inflation if interest rates had been kept lower over the past few years, according to research carried out by Sushil Wadhwani, a soon to depart…
Argentina central bank denies chairman to resign
ARGENTINA - The central bank has dismissed rumours that the resignation of its chairman, Mario Blejer, was imminent.
Lithuania thwarts mafia attempt to launder money
LITHUANIA - The Bank of Lithuania, the country's central bank, has prevented a large-scale money laundering attempt by declining an application from a French national to make a huge investment in the country's fourth-largest bank, Snoras, Lithuanian…