Monetary Policy
Bergo on cyclical developments and monetary policy
In a speech on 'Cyclical developments and monetary policy' given on 10 November, Jarle Bergo of Norges Bank said reports from Norges Bank's regional network confirm the picture of an expanding economy.
Chicago Fed National Activity Index, Oct 2004
The Chicago Fed National Activity Index (CFNAI) for October 2004 was published on 23 November. The CFNAI was +0.52 in October, up sharply from -0.04 in September. For the first time since March, all four of the broad categories of indicators that…
BoJ monetary policy meeting minutes12/13 October
The Bank of Japan released the minutes from its 12 and 13 October Monetary Policy meeting on 24 November. The minutes indicated that one member urged the central bank to get prepared to shift from the present monetary policy framework of quantitative…
Bundesbank's Weber on stability and growth
In a speech on 'Stability and growth' given on 19 November, Axel Weber of the Deutsche Bundesbank said stability and growth go hand in hand. The Lisbon agenda and the Stability and Growth Pact complement each other in lifting the EU's growth potential…
IMF praises Armenian central bank's tough policy
The IMF accepts and completely supports the tough monetary and credit policy of the Armenian central bank to contain inflation rate in the country, James McHugh, the IMF's resident representative in Armenia, has told Arminfo news agency.
Japan's deflation may not end in 2005 says Haru
Bank of Japan policy maker Hidehiko Haru said on Thursday 25 November that Japan's deflation may not end in the fiscal year that starts April 1, 2005, possibly forcing the Bank of Japan to maintain its zero-rate policy the following year and beyond.
Hungary's Jarai sceptical of 2010 euro accession
The president of the Hungarian central bank, Zsigmond Jarai, said on Thursday 25 November that a persistently high public deficit could ruin Hungary's chances of joining the eurozone by 2010.
NBP chief: GDP depends on passing of reform bill
Poland's long-term economic growth depends on passing legislation that can effectively reform the country's public finances instead of blocking initiatives, which could widen the government budget deficit, National Bank of Poland Governor Leszek…
ECB cannot react to short-term impacts says Issing
European Central Bank chief economist Otmar Issing said in a speech in Berlin on Thursday 25 November that the ECB cannot change interest rates in response to the short-term impact of external developments, such as this year's sharp rise in oil prices.
SARB's Mboweni on monetary policy and inflation
In a speech on 'Monetary policy and inflation: The next decade' given on 18 November, Tito Mboweni of the South African Reserve Bank said the recent major structural changes in the world and in South Africa will have little effect on the determination…
Chicago Fed's Moskow on causes of job loss
In a speech on 'Job loss: Causes, consequences, and policy responses' given on 19 November, Michael Moskow of the Federal Reserve Bank of Chicago said society needs to rethink policies to help workers displaced by economic change and new technologies.
Heikensten on the Riksbank & financial system risk
In a speech on 'The Riksbank and risks in the financial system' given on 16 November, Lars Heikensten of the Sveriges Riksbank said developments in the financial system in recent years have been very rapid and made substantial, new demands on all…
BoE's Lomax on stability and statistics
In a speech on 'Stability and statistics' given on 23 November, Rachel Lomax of the Bank of England said that the past decade has been a time of unparalleled stability for output and inflation, creating a much better climate for business. She says it is…
Jusko says Slovak crown can't firm indefinitely
Though Slovakia's central bank, the National Bank of Slovakia (NBS), is satisfied with Slovakia's economic development, it will not let the local crown firm indefinitely, NBS governor Marian Jusko told the news agency TASR.
Hungary approves Central Bank Act changes
The Hungarian parliament has approved modifications to the Central Bank Act that raise the maximum number of Monetary Council members to 11 and afford the prime minister a bigger say in nominating members of the Council, Interfax-Europe reported.
Polish central bank leaves rates unchanged
The National Bank of Poland said on Wednesday 24 November that it had left key interest rates unchanged at its monetary policy meeting.
Recommendations for Central Counterparties
The Committee on Payment and Settlement Systems (CPSS) and the Technical Committee of the International Organization of Securities Commissions (IOSCO) released a report entitled Recommendations for Central Counterparties on Wednesday 24 November.
ECB says eurozone banks have reduced USD holdings
Euro zone banks appear to have reduced their holdings of US dollar-denominated assets in the first half of 2004, the European Central Bank said in a report on EU banking sector stability.
Dodge on the Canadian economy
In a speech on behalf of Canada's Finance Minister, Ralph Goodale, to the German-Canadian Business Club of Berlin given on 22 November, David Dodge of the Bank of Canada said domestic demand is stronger and the prices of the goods and services we export…
SARB's Mboweni on central banking in Africa
In a speech on 'The global economy and central banking in Africa' given on 9 November, Tito Mboweni of the South African Reserve Bank said the changes in the world economy in recent years have led to large improvements in central banking in Africa. At…
Luxembourg's Mersch on the role of the euro
In a speech on 'The international role of the euro' given on 11 November, Yves Mersch of the Central Bank of Luxembourg said the Eurosystem has been a strong supporter of financial market integration in the EU. The introduction of the euro itself has…
Fed's Bies on fair value accounting
In a speech on 'Fair value accounting' given on 18 November, Susan Bies of the Federal Reserve said the Financial Accounting Standards Board's fair value measurement standard is a good first step toward developing enhanced guidance for the estimation of…
Sweden's Nyberg on securities market
In a speech on 'The securities market today and tomorrow' given on 10 November, Lars Nyberg of the Sveriges Riksbank said in recent years, inflation in many countries has fallen, and inflation expectations have stabilised at a level that reflects the…
Central Bank of Liberia launches website
The Central Bank of Liberia (CBL) has launched its website, according to a CBL release issued at the weekend.