Monetary Policy
The rise and fall of American inflation
In this Atlanta Fed Working Paper the authors estimate a model that allows temporary gaps between a true expectational Phillips curve and the monetary authority's approximating nonexpectational Phillips curve. Their estimates indicate that policy makers…
New York Fed's Central Banking Seminar
The Federal Reserve Bank of New York will hold its annual Central Banking Seminar from 18-29 October. Speakers at the seminar include prominent commercial and investment bankers, experts from the financial community, distinguished faculty from major…
Reserve Bank of New Zealand Bulletin, Sep 2004
The Reserve Bank of New Zealand released the September 2004 issue of its Bulletin on 6 October. The September issue includes two speeches recently given by the Governor - one on the banking supervision framework and the other on the New Zealand property…
Bernanke says US economy can absorb oil prices
Federal Reserve Board Governor Ben Bernanke said on Monday 4 October that despite the sharp rise in world oil prices the US economy should be able to withstand the impact as long as they don't rise much further.
US economy back on track says Fed's McTeer
Dallas Federal Reserve Bank President Robert McTeer said on Tuesday 5 October that the inflation scare is over with and the US economy is back on track from its soft patch.
Brazil's upswing due to rate policy says Meirelles
Brazil's central bank President Henrique Meirelles told a press conference in New York that the recovery from last year's recession is a result of budget and interest rate policies rather than the increase in exports.
Suda says Japan's economy to exceed potential
Japan's economy will expand faster than its potential and inflation will probably not rise for the time being, said Miyako Suda, a Bank of Japan policy board member.
ECB's Issing on European economic outlook
In a speech on 'Outlook for the European Economy' given on 3 October, Otmar Issing of the ECB said he sees no indication of lasting inflation even after rising oil costs pushed the inflation rate above the bank's 2 percent limit in the past five months.
Fed's Santomero on inflation targeting
In a speech on 'Monetary policy and inflation targeting in the United States' given on 4 October, Anthony Santomero of the Federal Reserve Bank of Philadelphia said the U.S. economic recovery is on a self-sustaining track with little signs of undue…
Fed's Bernanke on the implementation of Basel II
In a speech on 'The implementation of Basel II: Some issues for cross-border banking' given on 4 October, Ben Bernanke of the Federal Reserve said obviously oil prices are a drag at the current time, but we think the economy can accommodate them at their…
ECB's Trichet on key issues for monetary policy
In a speech on 'Key issues for monetary policy: an ECB view' given on 5 October, Jean-Claude Trichet of the ECB said his understanding is that the European Central Bank and Federal Reserve are much closer than is sometimes underlined. But he noted…
IMF says BOJ should continue easing policy
The Bank of Japan should maintain its current easy monetary policy until deflation is reined in, a senior official of the International Monetary Fund said on Monday 4 October.
Fukui supports China involvement at G7 talks
Bank of Japan Governor Toshihiko Fukui said on Sunday 3 October that he supports China's future participation at the financial meetings of the G7 leading industrialised countries.
George says France, Germany right to flout pact
Lord George, the former Bank of England governor, has hit out at the European Central Bank in an interview to be published this week, saying that its recent actions are damaging confidence in the eurozone's monetary policy.
Oil to affect growth not inflation says Eichel
German Finance Minister Hans Eichel said the increase in oil prices will have a stronger effect on economic growth in Germany than on the country's inflation rate.
Greenspan says risk management benefits the US
Federal Reserve Chairman Alan Greenspan said in a speech on Tuesday 5 October that better management of banking risk and new rules on capital could strengthen the banking system and contribute more to economic growth.
Riksbank issues coins to mark Palace anniversary
The Sveriges Riksbank is issuing two commemorative coins on the occasion of the 250th anniversary of the Royal Palace in Stockholm; a 200-krona coin in silver and a 2,000-krona coin in gold.
Rising tide of computer crime
UK banks have lost £4.5m to internet fraud in the last year. The majority of this fraud is thought to be carried out by organized criminal gangs in Eastern Europe. CentralBankNet reports on this growing phenomenon.
Communique' of the Ministers and Governors of G10
The Finance Ministers and Central Bank Governors of the countries of the Group of Ten met in Washington, D.C. on 3 October. John Snow, Secretary of the Treasury of the United States and current Chairman of the Group of Ten, presided.
Greenspan: The man who does the opposite
This article looks at what it says is the recurring pattern in Alan Greenspan's life of saying the opposite of what he is thinking/doing. Giving the example of his obscure but now famous essay, "Gold and Economic Freedom" published in 1966 it asks why he…
BOJ to maintain easy money policy, Fukui says
Bank of Japan Governor Toshihiko Fukui told G7 finance ministers and central bankers that Japan's potential economic growth is increasing and the bank will keep easing monetary policy to overcome deflation.
Iraq cb chief says debt relief needed to tap oil
Iraq's central bank chief said on Sunday 3 October that the country cannot fully exploit its huge oil reserves without "huge" debt relief.
PBOC dep gov sees move on yuan
On Sunday 3 October, People's Bank of China deputy governor Li Ruogu spoke about the development on the Chinese economy, stressing the U.S. efforts for yuan convertibility.
France's Noyer calls for budget discipline
Addressing officials at the annual International Monetary Fund/World Bank autumn meeting, Bank of France Governor Christian Noyer said the world economy had returned to a growth path and urged countries to tighten their public finances.