Monetary Policy
Tucker on managing the central bank balance sheet
In the speech 'Managing the central bank's balance sheet: Where monetary policy meets financial stability' given on 28 July Paul Tucker of the Bank of England said sets out the analysis underlying the Bank's announcement on 22 July of major reforms of…
RBA's Battellino, some comments on securitisation
In a speech 'Some comments on securitisation' given on 28 July Ric Battellino of the Reserve Bank of Australia said there is no doubt that an efficient and dynamic financial sector contributes importantly to the growth and development of the economy, but…
Bank of Finland - Annual Report 2003
The Bank of Finland has published its Annual Report for the year ended 2003. Over the year, financial stability in Finland improved due to the continuing strong returns shown by the country's financial institutions. Overall, the financial market…
Central Bank of Iceland - Annual Report 2003
The Central Bank of Iceland has published its Annual Report for the year ended 2003. At the same time as national expenditure rebounded quite strongly from the low in 2001 and 2002, exports stagnated. Despite a strong recovery of private consumption and…
Italy's Fazio on the prospects for the economy
In the speech 'The banking industry and the prospects for the economy' given on 8 July Antonio Fazio of the Bank of Italy said in the last three years the containment of the budget deficit has been entrusted mainly to one-off measures, which are useful…
SBP's Husain on economic development in South Asia
In the speech 'Economic development in South Asia and the impact of globalization' given on 11 July Dr Ishrat Husain of the State Bank of Pakistan said South Asia has made substantial progress in the last decade to integrate in the World economy but…
Brazil ready to take more active inflation stance
Brazil's central bank revealed Thursday 29 July in the minutes of its last Copom monetary policy meeting that it was ready to raise take a "more active" position on price increases if there are signs inflation is rising at too fast a pace to meet its…
McTeer says euro was political not economic idea
Dallas Fed president Robert McTeer told the Latin American meeting of the Econometric Society in Santiago that the euro was a politically motivated project that may slow growth and that it was "never obvious" to him as an ideal currency area.
Turkey's cb chief warns over austerity measures
Turkish central bank chief Sureyya Serdengecti said on Wednesday 28 July that Turkey has to continue the International Monetary Fund (IMF) deal under the current circumstances or risked a return to economic instability.
Central Bank of Iran - Annual Report 2002-2003
The Central Bank of Iran has published its Annual Report for the year ended 1381 (2002-2003). In the review year the increasing trend of international oil prices helped Iran enjoy positive and balanced growth in production and investment, the annual…
Chicago Fed's Moskow on the US economic outlook
In a speech on 'U.S. Economic Outlook' given on 23 July, Michael Moskow of the Federal Reserve Bank of Chicago said the recent increase in U.S. inflation probably isn't enough to force the Federal Reserve to abandon its "measured" approach to interest…
BoJ: Technology shocks and role of monetary policy
This Bank of Japan Discussion Paper develops a quantitative, general-equilibrium business cycle model with imperfect common knowledge regarding technology shocks. The model predicts that a positive technology shock leads to a persistent decline in…
What's with Greenspan's hawkish talk?
This article says Alan Greenspan's recent more hawkish comments in testimony to Congress on July 20-21 have a lot to do with whom Greenspan was speaking for and to whom he was speaking. Mainly, his stern words about guarding against inflation reflect his…
BoE's Bean: current issues in UK monetary policy
In a speech on 'Some current issues in UK monetary policy' given on 28 July, Charlie Bean of the Bank of England said that "the immediate economic outlook appears brighter than it has done for a while".
OECD report says ECB should hold rates steady
The European Central Bank (ECB) will probably keep interest rates in the dozen euro nations at their six-decade low for the rest of the year to help an economic recovery still threatened by "large risks," the Organization for Economic Co-operation and…
Poland raises rates for a second month
Poland's central bank raised interest rates for the second month running after the inflation rate rose close to a three-year high.
Zimbabwe offers investment sweetener
Zimbabwe's central bank announced on Tuesday 27 July a new measure to attract much-needed foreign investment: a guarantee to pay back the entire capital within three months if investors decided to leave.
Bank of England's customer banking strategy review
Following a review of its customer banking activities, the Bank of England said on 27 July that it has concluded that the provision of retail banking activities does not form an integral part of its role as a central bank.
SARB to issue bi-metal R5 coin
The South African Reserve Bank (SARB) launched a bi-metal R5 coin on 27 July. The new R5 coin will be in circulation from Monday, 2 August 2004. The coin has a bronze-coloured centre and a silver-coloured border.
Nat Bank of Kyrgyz Republic - Annual Report 2003
The National Bank of the Kyrgyz Republic has published its Annual Report for the year ended 2003.
RBI's Reddy on India and the global economy
In a speech on 'India and the global economy' given on 17 June, YV Reddy of the Reserve Bank of India said the presence of foreign banks in India has benefited the financial system by enhancing competition, resulting in higher efficiency. There has also…
Chicago Fed National Activity Index, June 2004
The Chicago Fed National Activity Index was 0.00 in June, a marked decrease from the May reading of +0.75. The production- and employment-related categories of indicators made negative contributions to the overall index in June, but these were offset by…
Future rate level not 'pre-decided' :ECB's Quaden
The European Central Bank probably won't raise interest rates soon as it forecasts that inflation will ease next year, the Financial Times reported, citing ECB governing council member Guy Quaden in an interview.
OECD sees growth threat from eurozone deficits
The OECD warned on Tuesday 27 July in its latest survey of the eurozone that high deficits, such as those faced by France and Germany, are the eurozone's biggest economic problem.