Monetary Policy
Papua New Guinea central bank posts record profit
The Bank of Papua New Guinea posted a record profit of 68m kina for last year on Tuesday. The bank posted a profit of 54m kina in 2002 and paid 50m kina of that to the state.
Poole on challenges for US businesses
At a panel discussion on the challenges for U.S. businesses which took place on 10 September, William Poole of the Federal Reserve Bank of St. Louis said the large U.S. current account deficit does not worry him as it implies a capital account surplus,…
Sweden's Persson: structural reform and employment
Deputy Governor of the Sveriges Riksbank Kristina Persson on Monday September 13 gave her view of economic developments at a seminar in Paris arranged by the Swedish Center for Business and Policy Studies and the Swedish Chamber of Commerce.
BoJ's Monetary Policy Meeting, 9/10 August
The Bank of Japan released the minutes from its 9 and 10 August meeting on 14 September. In the minutes of its monthly meeting the BoJ cautioned that high oil prices will have a negative impact on the Japanese economy.
'No urgency' to lift rates says Fed's Bies
Federal Reserve Governor Susan Bies said the central bank faces ``no urgency'' to lift the benchmark U.S. interest rate while awaiting more evidence that economic expansion is steady.
BOJ may hold rates down until 2008
The Bank of Japan may hold its key interest rate near zero per cent until 2008 as declines in rice and electricity prices fuel deflation, Mizuho Securities Co. economist Yasunari Ueno wrote in a report, according to Bloomberg News.
ECB's Trichet says he's still 'Mr Euro'
ECB president Jean-Claude Trichet said Saturday he remained firmly in place as "Mr Euro" despite the appointment of Luxembourg's Prime Minister Jean-Claude Juncker as the political face of the 12-nation eurozone.
Yellen on US economic and monetary policy
In a speech on US economic and monetary policy given on 9 September, Janet Yellen of the San Francisco Fed said the Fed's overnight interest rate remains well below the neutral level, so there is "a strong presumption that rates will need to keep going…
Cleveland's Pianalto: an economic perspective
In a speech on 'A National Economic Perspective' given on 10 September, Sandra Pianalto of the Federal Reserve Bank of Cleveland said US interest rates should rise to avoid future price pressures, but conceded that inflation did not pose a major threat…
Bank of Japan Monthly Report, September 2004
The Bank of Japan released the English version of its September 2004 monthly report on 13 September. In the report the bank said Japan's economy continues to recover. But the report also says exports and industrial production increased at a slower pace,…
Rate hikes can be measured, says Dallas Fed chief
Dallas Federal Reserve President Robert McTeer said on Friday 10 September that he believed further interest rate increases could be measured and noted that economic growth would be stronger in the months ahead.
IMF's Krueger to visit Moscow
The International Monetary Fund's First Deputy Managing Director Anne Krueger will be visiting Moscow September 12- 15, IMF External Relations Department Director Thomas Dawson announced in Washington on Thursday 9 September.
ECB chief economist says Pact losing its bite
The European Central Bank's chief economist has described the current status of the eurozone's Stability and Growth Pact as 'intolerable'. Otmar Issing told the German newspaper Die Welt that without a credible threat of sanctions, the pact was 'losing…
Weak EU growth threat to recovery: UK's Brown
Weak economic growth in the European Union is threatening the "uneven and fragile" global recovery, British Treasury chief Gordon Brown said in comments published on Friday 10 September.
Global recovery on track, say G10 central bankers
The global economic recovery is on track but monetary authorities have to remain vigilant against inflationary dangers, the G10 central bank governors said on Monday 13 Septemberin Basel, Switzerland.
Richmond Fed's Economic Quarterly, Summer 2004
The Federal Reserve Bank of Richmond has published its Economic Quarterly for Summer 2004. The paper "How do central banks control inflation?" says an intellectual consensus over how central banks control inflation has not accompanied the broad public…
Argentine protesters at IMF storm cb building
About 400 protesters waving banners marched into the main entrance of the central bank of Argentina in Buenos Aires last week, calling for President Nestor Kirchner to end relations with the International Monetary Fund.
Elections to Danmarks Nationalbank Board
The Danish Parliament has elected Ms Rikke Hvilshj, MP, and Ms Pia Christmas-Mller, MP, to the Board of Directors of Danmarks Nationalbank for a term ending on 31 March 2006.
Bank of Israel staff to get medals
The Bank of Israel is to spend NIS 320,000 on medals to be awarded to all members of staff in commemoration of the central bank's Jubilee year, Haaretz reported. However, a planned celebration for staff and retired workers was cancelled, the report said.
Former RBA chief criticises PM on rates
Former Reserve Bank of Australia governor Bernie Fraser said in an interview he expects interest rates to rise straight after the election, partly because of what he sees as the lax budgetary policies of the Howard government.
Federal Reserve Board - Beige Book, September 2004
The Federal Reserve has published its September 2004 Beige Book survey. The report said that while the US economy continued to grow in late July and August, growth in several regions slowed following a softening in household spending.
Juncker confirmed as Mr Euro
Luxembourg Prime Minister Jean-Claude Juncker was named on Friday 10 September as the first "Mr Euro", a political figurehead to represent the 12-nation eurozone.
Eichel raps Bundesbank over stability pact
German Finance Minister Hans Eichel rapped the Bundesbank on Friday 10 September for its recent criticism of the EU's proposed changes to the stability and growth pact in a press release titled "Do not weaken the Stability and Growth Pact".
Robust expansion ahead: Minneapolis Fed's Stern
Federal Reserve Bank of Minneapolis president Gary Stern said Thursday that the US economy is likely to grow at a rate of 4 percent for the remainder of this year.