Monetary Policy
ECB Monthly Bulletin, April 2005
The European Central Bank published its April 2005 Monthly Bulletin on Thursday 14 April, saying there are "no clear signs" that economic growth in the twelve nation euro zone is set to accelerate as record oil prices weigh on business conditions.
Philippines makes Greenspan's job look easy
This article published on Monday 11 April looks at the changeover taking place in July when deputy governor Amando Tetangco replaces Rafael Buenaventura as governor at the Philippine central bank. Tetangco sees his tenure as being about "fusing…
Iran's central bank and Bundesbank hold talks
The head of Iran's central bank Ebrahim Sheybani and the President of the German Bundesbank Dr Axel Weber met in Frankfurt on Tuesday 12 April.
Oil, debt relief on G7 agenda says Snow
US Treasury Secretary John Snow said on Wednesday 13 April that global growth, debt relief and high energy prices will be key themes for a weekend meeting of G7 finance ministers.
Fed's Fisher 'comfortable' with rate increase pace
Richard Fisher, president of the Federal Reserve Bank of Dallas, said strong US growth has put inflation pressures in the spotlight but they still appear to be under control.
South Korea drops revaluation plan
South Korea's plan to raise the value of the local currency and issue higher face-value banknotes has been dropped for fear of a possible negative impact on the overall economy.
Bank of Canada cuts growth forecast for 2005
The Bank of Canada released its April 2005 Monetary Policy Report on 14 April. In the report the Bank lowered its growth forecast for the Canadian economy for 2005, cutting its estimate to 2.6 per cent.
St Louis Fed's Regional Economist, April 2005
The Regional Economist, April 2005 edition from the St Louis Fed includes the article "The trickle-down effect of Basel II" which says the new banking accord could make survival for some regional and community banks more difficult. Also included is "So…
IMF Global Financial Stability Report, Apr 2005
The International Monetary Fund's Global Financial Stability Report for April 2005 says bigger than expected rises in long-term interest rates, or a sharp fall in the dollar, pose risks to a financial system that is at its most resilient in a long time.
IMF's Rajan on global current account imbalances
In a speech on 'Global current account imbalances: Hard landing or soft landing' given on 15 March, Raghuram Rajan of the IMF said foreign private investors are more important than central banks in funding the United States current account deficit.
FOMC Minutes, 22 March
Minutes from the Federal Reserve's 22 March meeting published on Tuesday 13 April revealed FOMC members saw higher inflation risks and debated whether to dump language about sticking to a "measured" pace of rate increases.
Fin mins concerned uneven growth may hinder ECB
Eurozone finance ministers are concerned that different growth rates among the 12 nations sharing the single currency could hamper European Central Bank policy making, a German government official told Reuters on Wednesday.
IMF sees slower economic growth in Japan
Japan's economy will show slower growth in 2005 but should gather steam as the year progresses, according to the IMF's World Economic outlook Wednesday, urging the Bank of Japan to keep monetary policy loose until the deflation threat is removed.
Central bank independence discussed in Iran
A senior banking expert said on Sunday that the independence of Central Bank of Iran (CBI) could help bring about economic stability and preserve the value of the national currency.
African central banks introduce supervision system
Central banks in East, Central and Southern Africa have moved closer to future monetary union, with the introduction of a new Bank Supervision Application (BSA) system.
Venner on issues of concern to the ECCB
In a speech on 'Issues of concern to the ECCB and the Caribbean region as a whole' given on 5 March, K Dwight Venner of the ECCB said in assessing the situation both domestically and internationally the ECCB has identified two major objectives which are…
Israel's Sokoler on a new central bank law
In the speech 'The time has come for a new Bank of Israel law' given on 17 March, Meir Sokoler of the Bank of Israel said with regard to a monetary council, the Bank of Israel is in favour of the establishment of such a body that would make decisions on…
Norges Bank's conference on monetary policy 2005
On Thursday 7 April Norges Bank held a conference on economic models at central banks. Approximately 70 individuals participated in the conference.
Trichet on integration in the enlarged Europe
In a speech on 'The challenges of economic and financial integration in the enlarged Europe' given on 9 April, Jean-Claude Trichet of the ECB said new European Union members should curb budget deficits not only to fulfil criteria needed to join the euro…
Bank of Canada keeps interest rates unchanged
The Bank of Canada announced on Tuesday 12 April that it was holding interest rates unchanged. The bank said data received since the last interest rate announcement indicate that the Canadian and global economies have been evolving largely as expected.
Juncker says EU to press China on peg
European finance ministers are set to appeal to China at this week's Group of Seven meeting to allow its currency to appreciate, according to Luxembourg Prime and Finance Minister Jean-Claude Juncker.
Irish bank chief highlights eurozone uncertainties
Ireland's central bank governor John Hurley told a meeting on Monday 11 April that stronger growth in the euro area still remains an emerging prospect rather than a current reality.
Zhou: anti-money laundering mechanism essential
China's central bank governor Zhou Xiaochuan said on Tuesday 12 April that it is of "significant importance" for European and Asian countries to establish an efficient anti-money laundering mechanism, People's Bank of China sources were quoted as saying.
Fed's Santomero stresses inflation vigilance
In an interview with USA Today, Philadelphia Fed President Anthony Santomero said the US economy was "in good shape and growing at a good pace, not too fast so as to create all these imbalances and pressure on prices, but clearly moving slightly above…