Monetary Policy
St Louis Fed's Poole on inflation
In a speech on 'Inflation Signals and Inflation Noise' given on 6 April, William Poole of the St. Louis Fed said the Fed must act aggressively when inflation risks change. He said his own view of inflation was that risks were tilted to the upside.
NY Fed's Rutledge on operational risk management
In a speech on 'Operational Risk Management - Current Issues and Supervisory Concerns' given on 22 March, William Rutledge of the Federal Reserve Bank of New York said he recognized the seriousness with which the industry is addressing the topic of…
Reserve Bank of New Zealand Bulletin, Mar 2004
The Reserve Bank of New Zealand has published its quarterly Bulletin for March 2004. The March issue contains three articles and a speech given by Reserve Bank Governor Alan Bollard earlier this year on asset prices and monetary policy.
Buba's Executive Board to abide by ECB Code
The Executive Board of the Deutsche Bundesbank has decided, with immediateEffect (8 April), to expressly adopt and apply to itself the Code of Conduct applicable to the members of the Governing Council of the ECB.
Bank of England leaves rates unchanged
The Bank of England made no statement to explain its thinking after its MPC meeting on Thursday 8 April left interest rates unchanged at 4%. Much speculation preceded the meeting with many analysts predicting a rate increase.
BOJ expected to hold policy unchanged
The Bank of Japan is expected to keep policy unchanged on Friday 9 March following the release of its tankan survey which showed Japan's economic recovery broadening.
Why Monti's IMF candidacy withdrawn - report
Italy withdrew EU competition commissioner Mario Monti's candidacy for the post of International Monetary Fund managing director in order to gain French and German support over its deficit problems, Italian daily La Repubblica reported.
AGCC adopts monetary union criteria
Gulf Arab states agreed on Wednesday 7 April on several key criteria to integrate their economic and fiscal policies for their anticipated monetary union, Kuwait's central bank governor said.
Welteke takes leave from Bundesbank
Reports on Thursday 8 April said that the Bundesbank is resisting pressure from the German government to install Deputy Finance Minister Caio Koch-Weser as president to replace Ernst Welteke who agreed to take leave on Wednesday.
St Louis Fed's Poole on entrepreneurship
In a speech on 'Allowing Entrepreneurship' given on 30 March, William Poole of the Federal Reserve Bank of St. Louis said policymakers in the European Union have been grappling with their perceived gap in entrepreneurial spirit. What they have come to…
Greenspan on rural economic issues
In a speech on 'Rural economic issues' given on 25 March, Alan Greenspan of the Federal Reserve said the rapid gains in farm productivity in the United States continue to this day and along myriad fronts. In agriculture, as everywhere else in our economy…
Geithner on challenges facing US financial system
In a speech on 'Change and Challenges Facing the U.S. Financial System' given on 25 March, Timothy Geithner of the Federal Reserve Bank of New York said the current deterioration in the U.S. fiscal position and the acute decline in the net national…
Fazio on the international economy and Italy
In a speech on 'The international economy and Italy' given on 14 February Antonio Fazio of the Bank of Italy said Europe is not contributing to the growth of the world economy. A stronger performance on its part is also necessary to adjust the payments…
ECB says stance in line with price stability aims
The European Central Bank published its April 2004 Monthly Bulletin on 7 April. The bank said its monetary policy stance remains in line with its target of maintaining price stability. "The low level of interest rates provides ongoing support to the…
Four more countries face stability pact scrutiny
The European Commission has put Britain and the Netherlands under formal surveillance for letting their budget deficits breach an EU target. It also issued a warning to Italy and said it expected Greece to breach the limit.
African common currency 'will open up economies'
The introduction of the "ECO" as a common currency for Ghana, Sierra Leone, Nigeria, Guinea and The Gambia will open up the economies of member states to increase trade and commerce, according to Lanto Harding.
German government calls for quick Welteke decision
Bundesbank chief Ernst Welteke can be replaced "very quickly" if he resigns or is removed by the central bank over a hotel stay paid for by a commercial bank, the German government said Wednesday.
Independent evaluation of ECB research activities
The ECB released a report on Wednesday 7 April of an evaluation of the economic research activities at the ECB. The report provides a positive assessment of the research conducted at the ECB on several criteria, including scientific quality and relevance…
IMF see 'sweet spot' in financial stability report
The global economy has hit a "sweet spot" according to the International Monetary Fund's April 2004 Global Financial Stability Report, published Tuesday.
RBA Financial Stability Review, March 2004
The Reserve Bank of Australia has published the first edition of its new report, the Financial Stability Review for March 2004. The report will be published every six months.
St Louis Fed's Regional Economist, April 2004
The Quarterly Review of Business and Economic Conditions, The Regional Economist, April 2004 edition from the St Louis Fed includes the article "Miscommunication". What the Fed said last year it could do if deflation surfaced was one thing. What the…
Fed's Bernanke on trade and jobs
In a speech on 'Trade and jobs' given on 30 March, Ben Bernanke of the Federal Reserve said the slow pace of hiring in the US is related to increasing productivity and not to outsourcing or trade.
Gramlich on The Board's Modeling Work in the 1960s
In a speech on 'The Board's Modeling Work in the 1960s' given on 26 March, Edward Gramlich of the Federal Reserve said poor decision-making by Federal Reserve officials in the late 1960s reflected political interference and not a misunderstanding of the…
Ueda on the role of capital for central banks
In a speech on 'The Role of Capital for Central Banks' given on 25 October (published 27 Feb), Kazuo Ueda of the Bank of Japan said that political-economy constraints in the real world may prevent central banks from fulfilling their responsibility to…