Monetary Policy
Swiss National Bank - Annual Report 2003
The Swiss National Bank has published its Annual Report for the year ended 2003. After two years characterised by economic problems and geopolitical tension, the situation for the world economy improved in 2003. The US economy, which was steadily…
Chicago Fed's Moskow on manufacturing prospects
In welcoming remarks to the Conference on Manufacturing Prospects given on 27 April Michael Moskow of the Chicago Fed said that it is too soon to know whether a slowing in Midwest manufacturing activity over the past few years can be linked to broader…
BoE's Barker on asset prices
In a speech given on 28 April, Kate Barker of the Bank of England's MPC downplayed concerns about a possible housing-market crash and high levels of household debt, which the International Monetary Fund has called a main risk to the UK economy.
Trichet on monetary policy issues, the ECB's view
In a speech on 'Issues in monetary policy: views from the ECB' given on 26 April, Jean-Claude Trichet of the ECB said Europeans' perception of inflation is greater than the reality. "Perceived inflation is higher then real inflation," Trichet said in the…
RBNZ increases interest rates to 5.5%
The Reserve Bank of New Zealand increased its Official Cash Rate from 5.25 per cent to 5.5 per cent on Thursday 29 April. RBNZ Governor Alan Bollard commented on the decision "The New Zealand economy continues to perform strongly and this is being…
Sweden holds rates steady at 2%
At its meeting on Wednesday 28 April the Executive Board of the Riksbank decided to leave the repo rate unchanged at 2 per cent. After a mild economic downturn the recovery in the Swedish economy has proceeded largely as expected, the Riksbank said.
SNB: Swiss franc not hindering recovery
Current Swiss franc exchange rates are not hindering the country's economic rebound, and while market intervention remains an option, it is not an issue at the moment, Swiss National Bank (SNB) directorate member Philipp Hildebrand said in an interview…
Fed's Greenspan on energy
In a speech on 'Energy' given on 27 April, Alan Greenspan of the Federal Reserve said the likelihood of persistently high energy prices would help check US energy use and lead businesses to rethink energy-related investment decisions.
Chicago Fed's Moskow on five years of the euro
In opening remarks to the "Five Years of the Euro: Successes and New Challenges" Conference given on 26 April Michael Moskow of the Federal Reserve Bank of Chicago said the five-year-old shared euro currency continues to pose challenges for its member…
Trichet on euro statistics & their use at the ECB
In a speech on 'Euro area statistics and their use for ECB policy-making' given on 23 April, Jean-Claude Trichet of the ECB said the ECB attaches great importance to timely and reliable euro area statistics as a basis for policy-making. Statistics are…
Chicago Fed National Activity Index, March 2004
The Chicago Fed National Activity Index (CFNAI) March 2004 was published on 22 April. The CFNAI decreased somewhat from February to March, but remained above zero for the seventh month in a row.
Canada's Dodge on financial services research
In a speech on 'Research in Financial Services and Public Policy-Filling the Gaps' given on 22 April, David Dodge of the Bank of Canada said Canada's economic health depends on a strong financial services sector. There are many research topics that are…
SADC central bank governors to meet in Botswana
Thirteen Southern African Development Community (SADC) central bank governors are expected in Gaborone, Botswana on Friday 30 April to attend the biannual meeting of the committee of Central Bank Governors.
BoE's Bell hints at need for higher rates
A member of the Bank of England's nine-strong Monetary Policy Committee thinks interest rates need to rise, according to an interview. Continued above trend growth, she said, would likely impact on prices.
Japan lifts growth forecast
The Bank of Japan said on Wednesday 28 April that it expects the country's economy to expand at an even greater rate than it forecast six months ago, but repeated that mild deflation will continue in the current fiscal year.
Cleveland Fed's Pianalto on monetary policy
In a speech on 'A perspective on monetary policy' given on 22 April, Sandra Pianalto of the Federal Reserve Bank of Cleveland said central banks can be more effective when they act as systematically and transparently as they can. Systematic and…
Canada's Dodge on growth policies in the Americas
In a speech on 'Economic and Financial Policies for Growth in the Americas: A Canadian Perspective' given on 19 April, David Dodge of the Bank of Canada said more open trade, appropriate structural policies, and sound macroeconomic policies all have an…
US unveils $50 note with enhanced security
US government officials from the Department of the Treasury, the Federal Reserve and the United States Secret Service, on Monday 26 April unveiled the new $50 note design with enhanced security features, and subtle background colours of blue and red, and…
Chicago Fed's Moskow on the US economic outlook
In a speech on 'US economic outlook' given on 23 April, Michael Moskow of the Chicago Fed said the outlook for growth in 2004 is encouraging. A year ago, we were worried about unwelcome disinflation; that concern has now subsided.
Trichet testimony: ECB prepared for enlargement
In testimony before the European Parliament on the presentation of the ECB's Annual Report 2003 given on 27 April, Jean-Claude Trichet of the ECB said the ECB and the ESCB are well prepared both for EU enlargement itself and for the challenges that the…
European Central Bank - Annual Report 2003
The European Central Bank has published its Annual Report for the year ended 2003.
Euro's reserve growing, ECB's Issing says
The euro's growing role as a global reserve currency is "unavoidable", the European Central Bank's chief economist Otmar Issing said Monday 26 April.
Deficits remain obstacle for new EU members
The greatest hurdle preventing the EU accession countries from joining the euro quickly is the state of their public finances, European Central Bank executive board member Tommaso Padoa-Schioppa said in a newspaper interview.
PBOC's Zhou: no G7 pressure for forex shift
Finance ministers of the Group of Seven did not show impatience with China's fixed exchange rate, Zhou Xiaochuan, governor of the People's Bank of China, said in an interview.