Monetary Policy
Padoa-Schioppa on enlargement and "old" Europe
In the speech 'Enlargement and "old" Europe: Blow or bless?' given on 21 October Tommaso Padoa-Schioppa of the ECB said the entry into the EU of 10 new member states last May could stimulate economic reforms in the other 15 EU member countries.
Dodge at House of Commons Finance Committee
In a speech to the House of Commons Finance Committee given on 26 October David Dodge of the Bank of Canada said with the economy expected to remain near its production capacity, core inflation is projected to move back up to the 2 per cent target by the…
Snow says US economy on right path
The U.S. economy is on the right path, but obstacles including high oil prices, deficits and business caution stand in the way of full recovery, US Treasury Secretary John Snow said on Tuesday.
ECB's Weber says euro appreciation not justified
European Central Bank council member Axel Weber said Europe's single currency may have appreciated against the dollar more than can be justified by economic arguments.
Oil will not cause recession says Dallas Fed
Stephen Brown, the senior economist for the Federal Reserve Bank of Dallas said Tuesday that high oil prices are unlikely to push the U.S. economy into a recession.
MEPs vote to alter report on ECB
Conservative and liberal MEPs voted Tuesday in Strasbourg to dramatically alter the French Green MEP Alain Lipietz's Report on the 2003 Annual Report of the European Central Bank to such an extent that the Rapporteur was forced to recommend a negative…
South Africa eases exchange controls
South African Finance Minister Trevor Manuel announced Tuesday that apartheid-era foreign exchange controls would be eased by scrapping the limits on how much companies can invest abroad.
SF Fed's Yellen on the national economy
In a speech on 'Perspectives on the national economy and monetary policy' given on 21 October, Janet Yellen of the San Francisco Fed said the Federal Reserve may need to speed up or slow down its rate-tightening campaign, depending on economic activity…
How Reserve Bank of Fiji conducts monetary policy
This article outlines how the conduct of monetary policy in Fiji is transmitted from the Reserve Bank of Fiji's (RBF) policy indicator rate (PIR) through to interest rates in the economy and finally to economic activity and its impact on inflation and…
Danmarks Nationalbank, Monetary Review 3rd Q 2004
The Danmarks Nationalbank's Monetary Review for the third quarter 2004 includes the following articles: The Basel Committee's endorsement of new capital-adequacy rules, Counterfeit banknotes, The role of capital in banks and The economic situation in the…
Trichet's statement to EP on ECB's Annual Report
In a statement to the European Parliament on the ECB's Annual Report 2003 on Monday 25 October, Jean-Claude Trichet said the eurozone economy was likely to continue growing at its current pace, but noted that high oil prices could dampen the speed of the…
Buba's Weber on European inflation dynamics
In a speech on 'European inflation dynamics and inflation convergence' given on 15 October, Axel Weber of the Bundesbank said we still do not know enough about the factors that determine inflation persistence in the euro area and we cannot even be sure…
ECB deplores attack on Hungarian cb independence
European Central Bank president Jean-Claude Trichet said late on Monday 25 October that the ECB considers the Hungarian government's proposal to increase its influence over the country's central bank as unacceptable.
BOJ's Fukui says prices just one hurdle
Core consumer prices at zero percent is only one hurdle the Bank of Japan will need to clear when deciding whether to stop its policy of keeping interest rates at almost zero, Governor Toshihiko Fukui said.
BNB gets observer status at ECB meetings
The Bulgarian central bank will receive an observer status in the European System of Central Banks and in the European Central Bank General Council, after the country signs its accession treaty with EU in 2005, the Central Bank's governor, Ivan Iskrov…
High oil prices to hit 2005 growth says EC report
High oil prices will dampen economic growth next year, according to a European Commission report published Tuesday 26 October.
Fed's Bernanke on oil and the economy
In a speech on 'Oil and the economy' given on 21 October, Ben Bernanke of the Federal Reserve said soaring oil prices now represent a "significant shock" to the US economy but the longer-term impact should be manageable.
Philadelphia Fed Business Outlook Survey, Oct 2004
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, October 2004, activity in the region's manufacturing sector continued to improve. In this months survey the participants were asked about their plans and expectations for…
Deutsche Bundesbank Monthly Report, September 2004
The Deutsche Bundesbank's September 2004 Monthly Report finds that according to the latest data, industry is still on an upward trend. Following weaker figures in June, both new orders and output showed a further clear seasonally adjusted rise in July,…
Turkish delight at monetary credibility
CentralBankNet always tries to catch up with central bank governors who visit London. Here, Nick Carver reports on Turkey's successful struggle for monetary credibility in Turkey.
Fed's Bies on the Federal Reserve and the economy
In a speech on 'The Federal Reserve System and the economy' given on 23 October, Susan Schmidt Bies of the Federal Reserve said the Fed will keep an eye on how much surging oil costs affect consumer prices but said she expects underlying inflation to…
UAE to host AGCC central bank
The United Arab Emirates (UAE) will be home to the central bank of the six states in the Gulf Cooperation Council (AGCC) which are working to set up a monetary union next year, the Kuwaiti finance minister said on Sunday 24 October, according to AFP.
Iran to discuss central bank independence
"Iranian MPs are to discuss with bank experts the independence of Iran's Central Bank from the government and the Iranian government will comment on the plan in due time," said Heydar Mostakhdemin Husseini, Iran's Deputy Minister of Economics in legal…
China's PM warns of continued inflation risk
Chinese Premier Wen Jiabao was cited as saying on Monday 25 October that high inflation and over-investment continue to pose significant risks to the economy and the government must ensure its cooling policies continue to take effect.