Monetary Policy
ECB's Liebscher says rates need not increase
European Central Bank council member Klaus Liebscher said in an interview he sees no reason to increase interest rates as a "weak" labour market helps bring down inflation.
EU's Juncker supports US comments on deficit
Luxembourg Prime Minister Jean-Claude Juncker said in a television interview Wednesday that U.S. pledges to reduce its budget deficit are a step in the right direction.
Flexibility in liquidity target says BOJ's Suda
Speaking on Wednesday Bank of Japan Policy Board member Miyako Suda said the central bank may need to be more flexible regarding its liquidity target when cash demand is low in the market.
Roubini and Setser predict end of Bretton Woods 2
Nouriel Roubini and Brad Setser have released a new paper prophesising the end of the so-called "Bretton Woods 2" system within the next two years.
Is the IMF's mandate still relevant?
In an article published on 1 February IMF Managing Director Rodrigo de Rato said that although the world has changed dramatically since the Bretton Woods Agreement of 1944, the IMF's role remains as vital as ever.
BoF's Noyer says French GDP forecast plausible
In an interview on Monday 7 February, Bank of France governor Christian Noyer said the government's 2.5 per cent forecast for GDP growth in 2005 is plausible, although economists have suggested the figure is too optimistic.
Fed's Bies: Behind the scenes at the FOMC
In a speech 'Behind the scenes at the FOMC: How the Federal Reserve determines monetary policy' given on 7 February, Susan Schmidt Bies of the Federal Reserve said interest rate policy may need to be more accommodative than expected to ensure the economy…
Deutsche Bundesbank Monthly Report, December 2004
The Deutsche Bundesbank's December 2004 Monthly Report said growth in the German economy faltered in the third quarter of 2004.
ADB chief urges flexible exchange rates for China
Speaking to reporters on Tuesday 7 February, the head of the Asian Development Bank urged China to adopt a more flexible currency exchange system, saying that removing the yuan's peg to the US dollar would be good for both Beijing and its neighbours.
Takenaka calls for money supply increase
Economic and fiscal policy minister Heizo Takenaka said the Bank of Japan and the government should work together to increase money supply growth to end more than six years of deflation.
SNB's Blattner on the new banknotes project
In a speech on Switzerland's new banknotes project given on 2 February, Niklaus Blattner of the Swiss National Bank said this step has become necessary because of the development of new technologies and the typically high demands on the design quality of…
Fed's Greenspan on Adam Smith
In a speech titled 'Adam Smith' given on 6 February Alan Greenspan of the Federal Reserve said that 18th-century philosopher Adam Smith was "a towering contributor to the development of the modern world."
RBA Statement on Monetary Policy, February 2005
The Reserve Bank of Australia published its February 2005 Statement on Monetary Policy on 7 February. After a strong year in 2004 the world economy retains momentum, with growth continuing to be led by the United States and China, the report says.
IMF paper on currency crises
This IMF Working Paper tests the implications of a number of theoretical models that attempt to highlight the dynamics behind currency crises. The empirical findings provide support for the view that a deterioration in economic fundamentals and the…
Book review - Samuel Brittan's 'Against the flow'
Samuel Brittan has been one of the Financial Times' leading columnists for nearly thirty years. This recently published book collects together the most important of his writings from the last three decades.
Fed's Gramlich says US should raise saving rate
Speaking on Monday 7 February, Federal Reserve Board Governor Edward Gramlich said that while the US economy was doing well, he was troubled by the nation's low saving rate.
Juncker says stability pact changes to be limited
Euro group president Jean-Claude Juncker said at the weekend that reform of the EU stability pact will be limited and will not harm economic stability.
G7 calls for increased exchange rate flexibility
G7 finance ministers and central bank governors have called for more flexibility in international exchange rates and warned that excess volatility would restrict global growth.
PBOC chief Zhou says China on track to reform
China is very much on the track toward an exchange rate reform in response to the demand of the world's richest nations for a more flexible exchange regime, China's central bank chief told Xinhua News in an interview.
Venezuela ratifies central bank president
Venezuela's National Assembly has ratified by simple majority, President Hugo Chavez' nomination of Gaston Parra Luzardo as the new president of the Central Bank of Venezuela (BCV).
Interview with Bank of Canada's Tiff Macklem
In an interview published this week, Bank of Canada Deputy Governor Tiff Macklem said Canada's economy may take two or three years to adjust to a currency that rose more than 20 per cent since early 2003 and "there is probably some more adjustment to go".
Malawi names new central bank governor
President Bingu wa Mutharika of Malawi has decided against renewing the contract of central bank governor Elias Ngalande, which expires at the end of this month, a government official said on Tuesday 1 February. Ngalande will be succeed by Victor Mbewe.
Nepal Rastra Bank appoints new governor
After a protracted dispute among the ruling parties, a cabinet meeting on Monday 31 January finally decided to appoint deputy governor Bijaya Nath Bhattarai as the new governor of the Nepal Rastra Bank.
BOT governor brushes off dismissal rumours
Bank of Thailand governor M.R. Pridiyathorn Devakula said this week that he had not been affected by rumours of his possible ousting from the central bank.