Monetary Policy
Bank Indonesia names senior deputy governor
Miranda S Goeltom, former deputy governor of Bank Indonesia (BI) was elected senior deputy governor of the central bank after undergoing a fit and proper test by Commission IX of the House of Representatives in Jakarta last Tuesday, 8 June.
Greenspan nomination hearing moved to 15 June
The Senate Banking Committee said on Monday 7 June that it was postponing a hearing on Federal Reserve Chairman Alan Greenspan's renomination until 15 June. The hearing was rescheduled because late President Ronald Reagan was lying in state at the U.S…
BOK agrees to train Asian bankers
The Bank of Korea (BOK) will offer a training course on operations and the role of the "central bank" to nine employees from central banks in six Asian nations.
RBZ's Gono denies he will run for president
Reserve Bank of Zimbabwe Governor Gideon Gono has refuted growing speculation that he could run for President in 2008, when President Robert Mugabe steps down.
NY Fed's Geithner on Bretton Woods Institution
In a speech on 'The Bretton Woods Institutions in the 21st Century' given on 10 June, Timothy Geithner of the New York Fed said the IMF has taken a number of important steps to make its financial instruments more effective for dealing with the challenges…
Norges Bank Historical Monetary Stats workshop
On Friday 11 June Norges Bank arranged a seminar in connection with the publication of an Occasional Paper on historical monetary statistics. The speakers included Jan F. Qvigstad, Director, Norges Bank, Forrest Capie, professor at City University …
Bulgaria stretches path to euro
Bulgaria will join the single European currency no earlier than July 1, 2009 according to a source quoted by Novinite.
Korea cuts coin issue
The amount of coins issued by the Bank of Korea was cut sharply last year because of declining demand, the central bank said this week.
Putin asks CBR to restore banking order
Russian President Vladimir Putin called on the Central Bank of Russia (CBR) on Friday "to restore order" in Russia's banking sector.
Fed must protect inflation credentials-Guynn
The Federal Reserve must heed signs of brewing inflation to protect its key weapon against price pressures - its credibility, a top Fed official said on Friday.
T&T central bank marks 40th anniversary
Trinidad and Tobago's central bank marked its 40th anniversary on Friday 11 June by reflecting on a problem that could lay low prospects for Caribbean development.
ECB Monthly Bulletin, June 2004
The European Central Bank published its June 2004 Monthly Bulletin on 10 June. The report said the recovery in euro area economic growth is expected to continue over the coming quarters, leading to a broader and stronger upswing in the course of next…
RBNZ Monetary Policy Statement, June 2004
The Reserve Bank of New Zealand increased the Official Cash Rate from 5.5 to 5.75 per cent on 10 June. Speaking at the release of the Reserve Bank's June 2004 Monetary Policy Statement, Reserve Bank Governor Alan Bollard said "The New Zealand economy has…
Federal Reserve Bulletin, Spring 2004
The Federal Reserve published its Bulletin for Spring 2004 on 9 June. The Bulletin includes a summary of papers presented at the second Conference of the International Research Forum on Monetary Policy. Among the topics examined were the Great Inflation…
Bank of England raises interest rates to 4.5%
The Bank of England's Monetary Policy Committee voted to raise the Bank's repo rate by 0.25 percentage points on Thursday 10 June. The Bank said that inflationary pressures were likely to continue building.
Prodi defends independence of ECB
Italian Prime Minister Silvio Berlusconi and his compatriot Romano Prodi, president of the European Commission, have locked swords over the strength of the euro and European Central Bank interest rate policy during the G8 summit of industrialized nations…
Bank of France urges reform to meet deficit limit
Bank of France governor Christian Noyer on Thursday 10 June called on the French government for measures to bring the country's budget deficit below three percent of output by 2005.
Fed will act when needed says Hoenig
Recent gains in US inflation should fade, but if this assessment is wrong, the Federal Reserve will act decisively to keep prices in check, top Fed policymaker Tom Hoenig said on Wednesday 9 June
IMF's Rato upbeat on global economy
New IMF chief Rodrigo Rato has given an upbeat assessment of the global economy, also pledging to listen more to the developing world and to review the crisis in Argentina.
Denmark's Andersen: Common or separate currencies?
In a speech on 'A common currency or separate currencies?' given on 25 May, Bodil Nyboe Andersen of the National Bank of Denmark said monetary and foreign-exchange issues should therefore be approached with caution by the authorities. If a change is to…
Inflation convergence across countries
OECD countries with a history of high inflation before the 1990s were shown to have subsequently experienced a larger degree of disinflation than countries with a history of low inflation. This RBA discussion paper explores further this phenomenon of…
IMF paper on interest rates/ currency pegs
This IMF working paper studies a policy often used to defend a currency peg: raising short-term interest rates. A key implication of the model is that an interest rate defense can always be successful, but has great costs for domestic agents. Hence, it…
Berlusconi calls for ECB rate cut
Italian Prime Minister Silvio Berlusconi has called on the ECB to cut its interest rates, believing the euro to be over-valued against the dollar and complaining that it is hindering Italian exports by making them less competitive.
Buoyant economic growth predicted for Ireland
A study on the EU's future economic prospects has reportedly predicted that Ireland's economy will grow at twice the rate of the 12-nation eurozone over the coming years.