Monetary Policy
CNB's Racocha on payments systems
In the speech 'Payments systems and financial stability' given on 8 July Pavel Racocha of the Czech National Bank said the main and most real challenge connected with the payment system in the Czech Republic is EU accession. Legal changes have already…
RBNZ's Bollard defends rate rises
The governor of New Zealand's central bank, Alan Bollard, has defended lifting interest rates to the highest level in the developed world, citing pervasive capacity constraints and inflation pressures.
Deutsche Bundesbank Monthly Report, July 2004
The Deutsche Bundesbank published the English version of its July 2004 monthly report on 5 August. June saw a slowdown in the rise in consumer prices, with the general price level falling slightly in seasonally adjusted terms.
South African Reserve Bank - Annual Report 2004
The South African Reserve Bank published its Annual Report for the year ended 2004 on 2 August. The SARB achieved success on many fronts during the past year. By far the most important achievement was the downward movement in the rate of inflation to…
Bank of England lifts rates to 4.75%, ECB holds
The Bank of England's Monetary Policy Committee voted to raise the Bank's repo rate by 0.25 percentage points on Thursday 5 August. The Bank said that its decision reflected continued strong growth which is likely to lead to rising inflationary pressures…
Implementing Basel II in non-Basel member states
This fourth FSI Occasional Paper summarises the results of a Basel II Implementation Assistance Questionnaire for selected non-Basel Committee member countries. The paper presents the responses to the Questionnaire from a global perspective, highlighting…
National Bank of Austria - Annual Report 2003
The National Bank of Austria has published its Annual Report for the year ended 2003. In 2003 Austria slightly outperformed its main trading partners and the euro area as a whole, which was attributable, among other things, to the economic stimulus and…
Rato promises more effective IMF
Rodrigo Rato on Wednesday 4 August promised changes at the International Monetary Fund that would ensure its assistance to Africa was more effective and debt relief more readily available.
Japan report solid economic recovery, warns on oil
"The economy is recovering at a solid pace as improvements in the corporate sector are extending into the household sector," the Cabinet Office said in a monthly economic report on Thursday 5 August.
OECD says Germany unlikely to meet deficit targets
Germany is unlikely to meet its fiscal deficit targets in 2004 and 2005, and its growth forecast "appears to be on the optimistic side" the OECD said in a report on the German economy.
Research says BoE's MPC lacks 'vigorous debate'
Research published on Thursday 5 August suggested the Bank of England's interest rate setting Monetary Policy Committee lacks "vigorous debate" partly explained by the increasingly dominant influence of Mervyn King.
IMF's Carstens on the challenges facing the IMF
In a speech on 'The challenges facing the IMF' given on 27 July, Agustin Carstens of the IMF said he believes we have a good handle on the avenues that should be pursued for improving the Fund's ability to identify emerging problems. What is less certain…
Bank of Italy - Annual Report 2003
The Bank of Italy has published its Annual Report for the year ended 2003. World economic activity gathered pace from the middle of 2003 as international political tensions eased, and monetary and fiscal policies remained highly expansionary. The…
Central bank coxswain can't fully trust the crew
The Bank of England sees its role as a manager of other people's behaviour, this article says. A bit like the coxswain in a rowing race, the Bank both barks out orders and has a well-trained hand on the tiller. Central bankers, inevitably, like to think…
RBA 2004 Conference: Future of inflation targeting
This year's Reserve Bank of Australia conference to be held 9-10 August is focusing on various issues related to inflation targeting including: the evolution of inflation-targeting regimes and the measurement of inflation. Drafts of the papers will be…
Banque de France, Fin Stability Review, June 2004
At the turn of the year, growth picked up in all advanced economies as well as in most emerging economies, in particular in Asia. The economic recovery, already in full swing in the United States and in Japan, gained momentum in the euro area, albeit at…
Study says Fed doesn't target stock market
The Federal Reserve doesn't target stock market prices directly when it sets monetary policy, Reuters said quoting a Fed study due out this week.
Eurozone recovery at risk, says IMF
The eurozone's recovery remains fragile and is vulnerable to weak consumer demand and the risk of a further rise in the already strong euro, the International Monetary Fund warned the single currency's member states on Tuesday.
RBA holds rates
The Reserve Bank of Australia announced Wednesday morning, 4 August, that the official cash rate would remain at 5.25 per cent, where it has been since December.
Japan says China must change fx system to enter G7
Japan's Ministry of Finance urges China to modify its tightly managed float of the yuan before it can be approved for entry into the Group of Seven nations, the Nihon Keizai Shimbun reported, citing an unidentified senior government official.
National Bank of Denmark - Annual Report 2003
The National Bank of Denmark has published its Annual Report for the year ended 2003. Growth in the Danish economy was sluggish in 2003. The modest increase in GDP of 1.0 per cent in 2002 was followed by zero growth in 2003. However, after two years of…
Bank Negara Malaysia - Annual Report 2003
The Central Bank of Malaysia has published its Annual Report for the year ended 2003. The more optimistic global environment and stronger domestic economic conditions have enhanced Malaysia's prospects as we advance into 2004, the annual report says.
Federal Reserve announce changes to check services
The Federal Reserve Banks announced on 2 August further changes to increase the efficiency of their check-processing operations. Check processing operations at nine sites will be discontinued and the volumes at these sites shifted to other Federal…
BNM's Zeti on investing in the new Malaysia
In a speech on 'Remaking Malaysia: Investing in the New Malaysia' given on 3 August, Dr Zeti Akhtar Aziz of the Bank Negara Malaysia said during this period of strong fundamentals and rising potential for economic expansion, Malaysia has the flexibility…