Monetary Policy
Bank of Japan downgrades economic assessment
The Bank of Japan downgraded its assessment of the country's sluggish economy on Friday in its latest monthly report, while the central bank's governor said steel shortages were compounding the economic slowdown.
Federal Reserve to release minutes earlier
The Federal Reserve said this week that it would begin releasing minutes from its FOMC interest rate meetings about a month earlier than it has been.
ECB's Financial Stability Review, December 2004
The European Central Bank published its first ever Financial Stability Review on Wednesday 15 December. In the report the ECB expressed some concern about the risks posed by the large US current account deficit, warning that a "disorderly rebalancing"…
Australia's Battellino on Asian bond markets
In a speech on 'Recent developments in Asian bond markets' given on 15 December, Ric Battellino of the Reserve Bank of Australia said markets had come a long way since the Asian financial crisis.
BIS to administer EMEAP's investments in ABF2
The EMEAP (Executives' Meeting of East Asia and Pacific Central Banks) Group, comprising 11 central banks and monetary authorities in the East Asia and Pacific region,1 announced on Thursday 16 December the launch of ABF2, the second stage of the Asian…
HKMA Quarterly Bulletin, December 2004
The Hong Kong Monetary Authority has published the December 2004 issue of its Quarterly Bulletin. This issue contains the regular Half-Yearly Monetary and Financial Stability Report, which analyses recent external and domestic influences on Hong Kong's…
Bundesbank's Remsperger on research matters
In a speech on 'Research matters' given on 27 November, Hermann Remsperger of the Deutsche Bundesbank said if a central bank's research is to develop on well-organised lines, it has to be " from the top down", with the objectives as the primary focus.
EMEAP central banks announce launch of the ABF2
The EMEAP (Executives' Meeting of East Asia and Pacific Central Banks) Group comprising 11 central banks and monetary authorities in the East Asia and Pacific region announced the launch of the second stage of the Asian Bond Fund (ABF2) on Thursday 16…
Sweden's Bergstrom on causes of unemployment
Sveriges Riksbank Deputy Governor Villy Bergstrom spoke at a seminar on economics in Stockholm on Wednesday 15 December. He said there is no long-term stable connection between inflation and unemployment. Instead, structural measures are required to…
Deficit cuts vital for U.S. economy says Snow
US Treasury Secretary John Snow said on Wednesday 15 December that cutting the twin deficits, blamed for weakening the dollar, would be a top priority in president Bush's second term.
French fin min hints over ECB intervention
The newly appointed French finance minister, Herve Gaymard, warned in an interview that the US dollar's weakness is "very worrying" and suggested possible intervention by the European Central Bank.
St Louis Fed's Central Banker, Winter 2004
The Winter 2004 edition of the St. Louis Fed's Central Banker magazine has been published. In the Feditorial, St. Louis Fed President Bill Poole announces several interactive features that facilitate debates and discussions on issues important to its…
Phil Fed's Survey of Professional Forecasters
The Federal Reserve Bank of Philadelphia has published its Fourth Quarter 2004 Survey of Professional Forecasters. Growth over the next five quarters looks slower now than it did three months ago, according to 34 forecasters surveyed by the Federal…
Fed's Poole on maintaining financial stability
In a speech on 'Maintaining financial stability: A central banker's perspective' given on 27 November, William Poole of the Federal Reserve Bank of St. Louis said central banks should not respond to every wiggle from inflation as they seek steady prices…
Fed raises rates, says economic outlook unchanged
The Federal Open Market Committee decided on Tuesday 14 December to raise its target for the federal funds rate by 25 basis points to 2-1/4 percent. In its press release the FOMC signalled there had been no change in its assessment of current economic…
Norges Bank keeps interest rate unchanged at 1.75%
Norges Bank's Executive Board decided on Wednesday 15 December to leave interest rates unchanged at 1.75 per cent. The Executive Board said in a press release it did not see any clear alternatives to leaving the interest rate unchanged.
Bank of Japan, a role model for the ECB?
This article looks at recent comments from Gerhard Schroder that Europe "can learn something from Japan and its great monetary policy." Japan is the only major industrialized economy in the past 70 years to experience prolonged deflation and now its much…
IMF's Rajan says US dollar fall is a wake-up call
International Monetary Fund research department director and economic counsellor Raghuram Rajan told the Australasian Finance and Banking Conference in Sydney that the depreciating US dollar is a wake-up call and urged policymakers to pay attention to…
China seeing gold-buying surge as dollar hedge
China is seeing a gold-buying surge as a hedge against the weakening dollar and negative real interest rates, the South China Morning Post reported, citing figures from the China Gold Society and analysts.
Poll shows Sweden still opposed to euro
Opposition to the euro in Sweden remains strong 15 months after voters rejected the single currency in a referendum, but the number of opponents has fallen, a poll published on Wednesday 15 December by Statistics Sweden showed.
Central Bank of Jordan - Annual Report 2003
The Central Bank of Jordan has published its Annual Report for the year ended 2003. The Jordanian economy managed in 2003 to overcome the negative effects of the unfavorable regional developments that affected the region. The performance of the Jordanian…
RBA's Stevens on economic and financial conditions
In the speech 'Economic and financial conditions December 2004' given on 14 December Glenn Stevens of the Reserve Bank of Australia said Australia's economic growth is running more slowly than anticipated, despite strong domestic demand.
ECB's Gonzalez-Paramo on the euro after six years
In the speech 'The euro after six years: achievements and challenges ahead' given on 9 December Jose Manuel Gonzalez-Paramo of the ECB said the euro has done its job in terms of fostering sustainable growth in the euro area. However, in order to achieve…
SARB, Quarterly Bulletin, December 2004
The South African Reserve Bank said in its latest Quarterly Bulletin for December 2004 that the South African economy appears to have adjusted to the combination of a stronger world economy, favourable terms of trade, lower interest rates and less…