Monetary Policy
SNB's Roth on the creation of the euro
In a speech on 'The Creation of the Euro and the New International Monetary Order: A View from Switzerland' given on 4 June, Jean-Pierre Roth of the Swiss National Bank said the introduction of the euro has been a very positive development for the…
Moderate oil prices preferable - World Bank chief
World Bank President James Wolfensohn said at the conference 'Corporate Governance and Economic Growth in Russia', which opened in Moscow on Thursday 3 June, that moderate oil prices are better for the world economy in general.
BOJ, govt closer on economic policy says Takenaka
Japan's government and central bank now have closer ties, Economics and Financial Services Minister Heizo Takenaka said on Monday 7 June, citing a recent agreement among policymakers that by some views demands more accountability from the Bank of Japan.
PBOC's Zhou says watching prices -report
China's central bank chief Zhou Xiaochuan said that the People's Bank of China will closely monitor any further changes in the consumer price index, according to a report published on Monday 7 June.
T&T central bank criticised over discrimination
Secretary General of the Sanatan Dharma Maha Sabha, Sat Maharaj, has apparently criticised the Central Bank of Trinidad and Tobago, citing it as an example of cultural discrimination in Trinidad and Tobago, according to a report by the Trinidad and…
Greenspan nomination hearing will be 10 June
Federal Reserve Chairman Alan Greenspan will testify next Thursday, 10 June, before the Senate Banking Committee as it considers his nomination for a fifth term at the central bank's helm, the panel said on Thursday 3 June.
IMF's new MD Rato to assume office on 7 June
Rodrigo Rato, the new managing director of the International Monetary Fund, will officially start work on June 7, IMF spokesman Thomas Dawson said on Thursday 3 June.
Yepez made Ecuador's new economy minister
Ecuadorian President Lucio Gutierrez said on Tuesday 2 June that he had accepted the resignation of Economy Minister Mauricio Pozo and the new minister will be Central Bank Director Mauricio Yepez.
President proposed for euro finance ministers
French finance minister Nicolas Sarkozy proposed this week that the finance ministers of the 12 eurozone countries should have a permanent president for two and a half years.
Feldstein - The Next Greenspan?
As one of George W. Bush's key advisors on economic policy, Harvard professor Martin Feldstein helped design the President's tax cuts. He's working on a plan to overhaul Social Security. Could he be the next Greenspan, this article asks.
Israel's Klein in favour of hiring Arab employees
The Bank of Israel is in favour of recruiting Arab employees, but has yet to find suitable candidates for available positions, according to a letter sent by central bank governor David Klein to Hadash party MK Ahmed Tibi, Haaretz reported this week.
RBA's Macfarlane sees growth close to 4 percent
In his opening statement to the House of Representatives Standing Committee given on 4 June, Ian Macfarlane of the RBA said that the Australian economy was set to grow by 3.75 percent in 2004 and signalled the Reserve Bank was "comfortable" with interest…
Trichet on financial stability & structural change
In a speech to the Second Conference of the Monetary Stability Foundation given on 3 June, Jean-Claude Trichet of the ECB said faced with new developments in the financial markets, namely, their increasingly large role and their integration across…
ECB decision on the rules applying to OLAF
Today, 3 June, the Governing Council of the European Central Bank (ECB) adopted a Decision (ECB/2004/11) on the terms and conditions for European Anti-Fraud Office (OLAF) investigations of the European Central Bank.
Independence law for Central Bank of Taiwan
When passed into law, the amended Central Bank Act in Taiwan will define the central bank as "the national bank which exercises its duties independently as prescribed by the law," this article says. Important amendments to the Act include requiring the…
Bergstrom on risks for the Swedish economy
In a speech on 'Risk of "golden parenthesis" for the Swedish economy' given on 3 June, Villy Bergstrom of the Sveriges Riksbank said if the foundations are not laid for boosting employment and long-term capital formation the currently favourable period…
Belgian national bank sees GDP growth at 2.3 pct
Presenting the June forecasts, Belgian national bank governor Guy Quaden warned that a further rise in oil prices could hamper economic recovery in Europe.
World Bank wants further Russian economic reforms
World Bank chief James Wolfensohn is urging Russia to continue with economic reforms to promote investment. He also warned that how Russia deals with a tax affair involving the Yukos oil company could have major repercussions.
RBI's Udeshi on the role of central bankers
In a speech on the 'Role of Central Bankers in Emerging Economy like India' given on 19 March, Kishori Udeshi of the RBI said the life of a central banker is one of anonymity, staid and boring. It is only in moments when the going is tough that central…
Sveriges Riksbank, Financial Stability Report
Sweden's central bank, the Sveriges Riksbank, published its first Financial Stability Report for 2004 on 2 June. Although household debt is increasing at a rapid rate, it is not considered to entail any serious risks for Swedish banks, according to the…
Norges Bank Financial Stability Report No.1, 2004
The central bank of Norway, Norges Bank, has published its twice yearly Financial Stability Report 1/2004. "The short-term outlook for financial stability is regarded as satisfactory and has improved somewhat compared with the situation six months ago,"…
ECB press conference, with Q & A session
The European Central Bank held eurozone interest rates unchanged for a 12th month on Thursday 3 June. At the post-meeting press conference Jean-Claude Trichet said the economic recovery has strengthened over recent months, but noted we have also…
Caruana on Basel II - a new approach
In a speech on 'Basel II - a New Approach to Banking Supervision' given on 1 June, Jaime Caruana of the Bank of Spain said Basel II is an important step in embracing a new, incentives-based approach to supervision. In the speech Caruana discusses how it…
BOJ's Haru cautious on possible rise in JGB yields
Bank of Japan Policy Board member Hidehiko Haru said on Thursday 3 June that it was expected that interest rates on Japanese government bonds to rise in line with an economic recovery but that an excessive jump may be harmful.