Monetary Policy
Poole on Government Sponsored Enterprises
In the speech 'Panel on Government Sponsored Enterprises' given on 6 May William Poole of the Federal Reserve Bank of Chicago said the capital positions of Fannie Mae and Freddie Mac and their quasi-government status remain a lingering threat to…
OECD Economic Outlook, May 2004
The OECD published the May 2004 edition of its Economic Outlook on 11 May. In the report it said the OECD raised its forecasts for economic growth this year and next and said the Fed should start raising interest rates in the middle of this year to keep…
Fed's McTeer sees no recession from oil hikes
Dallas Federal Reserve Bank President Robert McTeer said in a comment piece in the Wall Street Journal on Monday that despite the increase in energy prices, the United States will not go into a recession as it has during previous jumps in energy costs.
US Treasury's Snow says no worry on inflation
US Treasury Secretary John Snow said on Monday he was not concerned about the potential for rising prices and interest rates, saying the economy had lots of room to grow without inflation.
Issing:Central bank shouldn't try to prick bubbles
Central banks should not try to prick asset price bubbles in property or stock markets, but they do need to take account of asset price developments when setting interest rates, ECB chief economist Otmar Issing said.
Hungary's Draskovics to propose 2010 euro entry
Finance minister Tibor Draskovics has said he will recommend to the government that Hungary set 2010 as the target date for introducing the euro.
Taylor says flexible yuan would ease overheating
The US has continued its pressure on China to move to a more flexible exchange rate system, with Treasury Under Secretary John Taylor saying Monday such a switch would help ease the overheating now being seen in the economy.
Persson: China increasingly important for Sweden
Sveriges Riksbank Deputy Governor Kristina Persson gave a speech Tuesday at the Umea Association for Foreign Affairs. The speech was entitled "What can China's economic development entail for Sweden?" Persson said "the increase in growth in China means…
The RBNZ changes its policy on reserves
The Reserve Bank of New Zealand, a pioneer of inflation targetting, used to say it did not need any foreign reserves. But now it has changed its mind.
RBA Statement on Monetary Policy, May 2004
The Reserve Bank of Australia has published its May 2004 Statement on Monetary Policy. The RBA said easing currency woes, a cooling housing market and an improving global economy had improved the prospects for balanced growth. While the risks to the…
Hong Kong Monetary Authority - Annual Report 2003
The Hong Kong Monetary Authority has published its Annual Report for the year ended 2003. After six years of difficulty and uncertainty, Hong Kong's economy experienced a strong rebound in the second half of 2003 and this rebound has continued its…
Richmond Fed's Broaddus on competition in banking
In the speech 'Competition in Banking: Achieving the Right Balance' given on 6 May J. Alfred Broaddus of the Federal Reserve Bank of Richmond said policy-makers need to change perceptions that large banks will be bailed out if they get into financial…
Barron: Lowering barriers to cross-border payments
In the speech 'Lowering barriers to cross-border payments' given on 5 May Patrick Barron of the Atlanta Fed said we share a common goal to reduce international payment costs and provide banking services to millions of people who don't currently have bank…
Moskow's remarks to the Chicago Fed conference
In welcoming remarks to the 40th Annual Conference on Bank Structure and Competition given on 6 May Michael Moskow of the Chicago Fed said the conference provides a podium for the best new academic research on financial institutions, and a forum for…
BOJ's Fukui foresees no change in interest rates
Toshihiko Fukui said Sunday 9 May he expects no change in the Bank of Japan's zero-interest-rate policy, as the economy struggles to emerge from its deflationary spiral.
Trichet: Growth not threatened by oil price rise
The world economy will continue to grow despite a rise in oil prices, European Central Bank governor Jean-Claude Trichet said on Monday at the Group of 10 meeting of central bank governors in Basel.
US press China on yuan reform
U.S. Treasury Under-Secretary John Taylor on Monday pressed China to adopt a more flexible currency regime to cool its overheating economy.
Report: Taiwan central bank to gain independence
It was reported Monday that the Central Bank of China (CBC) will become an independent body according to a draft package of amendments to the existing law governing the bank's organization and operations.
Trinidad: cb governor warns on money laundering
The governor of the Trinidad and Tobago Central Bank, Ewart Williams, has warned that money laundering through the banking system is on the increase and that the financial system is being increasingly used to fund criminal activity.
BOJ outlook on Economic Activity & Prices, April
The Bank of Japan has published its April 2004 report "Outlook for Economic Activity and Prices". Japan's economy has continued to recover at a moderate pace since the second half of 2003. In 2004, the economy is expected to continue its recovery as…
Japan's Fukuma on economic & financial trends
In a speech on 'Recent Economic and Financial Developments' given on 25 March, Toshikatsu Fukuma of the Bank of Japan said in order for Japan to steadily regain the national wealth lost in the collapse of the bubble and to lay the foundations for future…
Redesign of the Bundesbank's website
The Deutsche Bundesbank has launched its redesigned website. Two key objectives have been achieved, the bank said. Completely barrier-free access to the website and consistent, uniform structuring of complex material in an attractive design, retaining…
Fed minutes show concern at ultra-low rates
Some FOMC members expressed concern at their March meeting that a long period of ultra-low short-term interest rates might lead to increased speculation in financial markets, according to Federal Reserve minutes released ON Thursday 6 May.
Fed's Bies: Financial innovation & risk management
In a speech on 'Financial Innovation and Effective Risk Management' given on 6 May, Susan Bies of the Federal Reserve said banks should take care to safeguard their reputations when considering whether to be involved in complex deals aimed at helping…