Monetary Policy
Norges Bank Inflation Report, July 2004
Norway's central bank, Norges Bank, has published its latest Inflation Report for July 2004. The report says inflation is low and since the March Inflation Report, it has moved in line with projections. Inflation is being restrained by the appreciation…
Deutsche Bundesbank Monthly Report, May 2004
The Deutsche Bundesbank has published the English version of its May 2004 monthly report. In the first few months of 2004 the global economic upturn grew both stronger and more widely based. The terrorist attacks in Madrid and the escalation of the…
Italy escapes EU budget warning
Italy has escaped an EU warning over its worsening finances at a meeting of euro zone finance ministers in Brussels.
SNB's Roth sees GDP growth of 'almost' 2 pct
Swiss National Bank (SMB) chairman Jean-Pierre Roth said he expects the Swiss economy to grow by "almost" 2 pct this year, repeating previous comments by the central bank.
IMF expect 'progress' in Argentina discussions
The International Monetary Fund expects a significant advance in discussions to complete the third review of the program with Argentina, said IMF Managing Director Rodrigo Rato during a forum in Paris.
Economy adjusting, says BOJ's Fukui
Bank of Japan governor Toshihiko Fukui said on Monday 5 July that the country's economy is nearing recovery from the prolonged slump that followed the bursting of Japan's speculative bubble in the early 1990s.
Sunil Mendis appointed governor in Sri Lanka
Sunil Mendis has been appointed Governor of the Central Bank of Sri Lanka for a six-year term. He replaces A.S.Jayawardena whose term of office finished on Wednesday 30 June.
Fed appoints new General Counsel
The Federal Reserve Board on Tuesday 29 June announced the appointment of Scott G. Alvarez as its General Counsel, effective July 1, 2004.
S-N Korea's central bankers meet for first time
The heads of the central banks from North and South Korea met for the first time last Saturday, 26 June, in Switzerland.
FSA chief gets £109,000 pay boost
John Tiner, chief executive of the UK's Financial Services Authority, received a £109,752 rise in his total remuneration last year, according to the regulator.
ECB's new HQ begins to take shape
The construction of the new European Central Bank headquarters in Frankfurt moved one step closer this week with demolition work on the former site of the Grossmarkthalle (wholesale market) due to begin on Thursday 1 July.
BoE's Lomax on reasons for raising interest rates
In a speech given on 1 July, Rachel Lomax of the Bank of England said that "the UK emerged from the slowdown in the world economy with less slack than other economies. That is the key reason why we were the first to start raising interest rates".
FOMC minutes, 4 May, show worries over inflation
Minutes from the Federal Reserve's 4 May FOMC meeting released on 1 July showed that nearly two months before the Fed raised short-term interest rates on Wednesday, some board members made it clear that they were more worried about inflation than Alan…
The development of statistics for EMU - ECB book
The European Central Bank published a book on 2 July recording the work to develop statistics for Economic and Monetary Union (EMU). Part A of the book concerns the preparatory work in the years 1992 - 98. Part B describes the numerous enhancements made…
Reserve Bank of New Zealand Bulletin, Jun 2004
The Reserve Bank of New Zealand has published its quarterly Bulletin for June 2004. The June issue contains articles spanning most of the Reserve Bank's core functions including "What drives the New Zealand dollar?". In addition, for the first time the…
EurAsEC central banks celebrate 10th anniversary
The council of the chiefs of the central banks of EurAsEC countries held their 10th anniversary session in Bishkek last week.
Arhar says Slovenia not ready for euro
Slovenia is not sufficiently prepared to enter the Exchange Rate Mechanism II (ERM II), France Arhar, chairman of the Slovene branch of Bank Austria Creditanstalt, told the weekly Mag, saying that the country is experiencing unusual circumstances in long…
Turkey to introduce new lira notes
Turkey has already completed the printing of the first run of the new one lira note and delivered them to branches of the Central Bank, the deputy chairman of the Turkish Central Bank announced on Thursday 1 July.
Dutch and Belgians plan to scrap small change
The Netherlands and Belgium have indicated that they will soon scrap the one and two cent euro coins, EUobserver reports.
Hosokawa calls for flexible BOJ policy
Koichi Hosokawa, who on Friday 2 July took over as the top career official at the Ministry of Finance in Japan, said he wants the Bank of Japan to implement "flexible" monetary policy amid a rise in long-term bond yields.
QC ends BCCI address after record 79 days
The longest opening address in English legal history ended on Thursday 1 July with Gordon Pollock, QC, winding up the evidence that liquidators of the collapsed Bank of Credit and Commerce International are citing in the £850m damages suit versus the…
Chicago Fed National Activity Index, May 2004
The Chicago Fed National Activity Index May 2004 moved sharply higher, to +0.91, from a downward revised +0.52 the previous month. As was the case in April, production- and employment-related data added the most to May's CFNAI, although each of the four…
Fukui at BOJ representative office centenary event
In a speech given on 29 June at the reception for the centenary of the Bank of Japan Representative Office in London, Toshihiko Fukui of the Bank of Japan said the imminent objective for the Bank of Japan to open an office in London 100 years ago was to…
Safer, smarter, more secure US $50 note
The newly redesigned Series 2004 US $50 notes, featuring subtle background colours of blue and red, images of a waving American flag and a small metallic silver-blue star, will be issued beginning on September 28, the U.S. government announced on 30 June…