Monetary Policy
BOJ's Muto says closely watching long term rates
The Bank of Japan is closely watching rising long-term interest rates to see if they affect the world's second-largest economy, Toshiro Muto, one of the bank's two deputy governors, said in a speech.
No Russian banking crisis says Ignatyev
Chairman of the Russian Central Bank, Sergei Ignatyev, told a press conference on Friday 18 June, that the situation with ruble liquidity on the Russian inter-bank loan market is stabilising and that a banking crisis in Russia is highly unlikely.
Former Bank of Korea governor Chon Chol Hwan dies
Chon Chol Hwan, former Bank of Korea governor, has died after an illness, aged 65, Bloomberg reported, citing South Korean central bank's press office.
King on house price inflation in UK
In a speech given on 14 June Mervyn King of the Bank of England said the risk of a decline in UK house prices is increasing, despite the central bank's latest attempt to cool the housing market after raising interest rates four times since November. He…
Interview with Mervyn King
In an interview with Scotland's The Herald newspaper published 15 June, Mervyn King said that the Monetary Policy Committee was not in the business of trying to shock consumers or the market and would only do so when the situation had materially changed…
Trichet on international financial architecture
In the speech 'The International Financial Architecture - Where do we stand?' given on 14 June Jean-Claude Trichet of the ECB said the key aim of today's policy makers has not changed compared to those at the Bretton Woods times - it has been, and still…
Central Bank of the Bahamas - Annual Report 2003
The Central Bank of the Bahamas has published its Annual Report for the year ended 2003. The report includes a comparative review of economic and financial developments in the Bahamas during 2003, an update on regulatory development affecting the…
BIS Quarterly Review June 2004
The BIS June 2004 quarterly review, released 14 June, is divided into two parts. The first analyses recent developments in financial markets, financing flows in banking and debt securities markets, and activity on derivatives markets. The second part…
Report says Buba used public money to build villas
For decades the Bundesbank used public money to build luxury villas for some of its top officials, German business daily Handelsblatt reported.
Olson says Fed must stay alert on inflation
The U.S. economy is growing at a rate at which policymakers must pay attention to the possibility of inflation, Federal Reserve Governor Mark Olson said on Monday.
Fed's Moskow urges vigilance on inflation
Chicago Fed President Michael Moskow said in an opinion piece in Tuesday's Wall Street Journal the Federal Reserve must continue to be vigilant in monitoring inflationary pressures.
Rapid rate rise not good for economy - Tanigaki
Japan's Finance Minister Sadakazu Tanigaki said a rapid rise in long-term interest rates may harm Japan's economic recovery, Jiji Press reported.
Greenspan's testimony at nomination hearing
In his nomination hearing testimony to the US Senate on 15 June Alan Greenspan of the Federal Reserve said the Federal Reserve must stand ready to deal with a large number of possible threats to the economy, including another terrorist attack on U.S…
Minn.Fed's Stern oil hikes may not bring inflation
Gary Stern, the president of the Federal Reserve Bank of Minneapolis, said on Sunday that rising energy prices do not necessarily signal inflation, which he called "a monetary phenomenon."
Japan economy on recovery road, says Takenaka
Japan's Economic and Financial Services Minister Heizo Takenaka said on Sunday 13 June that the rise in JGB yields reflected an expectation of further economic recovery. Separately Masakazu Hayashi told a news conference the government wanted the Bank of…
PBOC official says no rate increase planned
People's Bank of China spokesman Bai Li said thsat he was unaware of any submission of detailed plans to raise interest rates to the State Council, according to a report published on Monday 14 June .
IMPLEMENTING BASEL II
The Basel Committee's new capital accord will be signed at the end of June, and implemented from the end of 2006 onwards. Nick Le Pan, Canada's leading supervisor is vice chairman of the committee and gave an exclusive interview to The Financial…
Cleveland Fed's Pianalto on monetary policy II
In a speech on 'A perspective on monetary policy II' given on 11 June, Sandra Pianalto of the Federal Reserve Bank of Cleveland said the central bank's target rate of 1 percent "is too low to be sustainable."
Norway's Gjedrem on monetary policy and the krone
In a speech 'On monetary policy and the krone' given on 7 June, Svein Gjedrem of Norges Bank said that with the current low level of inflation, it is appropriate to be particularly vigilant with regard to developments in consumer prices. However,…
Bank of Canada Financial System Review, June 2004
The Bank of Canada published its semi-annual Financial System Review on 10 June. Economic forecasts of global growth in 2004 have been revised upwards significantly. In addition, favourable financing conditions and the efforts of firms to restructure…
Minutes from the Sveriges Riksbank Meeting, 27 May
Minutes of the Sveriges Riksbank Executive Board meeting on 27 May were published 11 June. All the members expressed greater certainty over the recovery both in Sweden and abroad and said that there were factors, such as the rise in long-term interest…
Norges Bank - Annual Report 2003
The central bank of Norway, Norges Bank, has published its Annual Report for the year ended 2003. The international growth outlook deteriorated through the first half of 2003. Developments in the Norwegian economy were also weaker than projected earlier,…
IMF's Rato calls for structural reforms
The IMF is calling on Europe and Japan to promote sustainable economic growth through structural reforms, said the fund's managing director Rodrigo Rato.
ECB's Issing on the primacy of price stability
In a speech 'On the primacy of price stability' given on 10 June. Otmar Issing of the ECB said the primacy of price stability does not imply that this objective can be left to the central banks alone. Monetary policy needs to be complemented by a sound…