Monetary Policy
IMF stops Vietnam lending program
The International Monetary Fund said on Tuesday 13 April that it has stopped its multi-million dollar lending program to Vietnam after a long-running dispute with the country's central bank over disclosure of its foreign reserves.
Eichel tells FAZ Welteke actions 'unacceptable'
Ernst Welteke faced strong criticism from the German government on Tuesday 13 April when the finance minister said in an interview with a German daily that it was unacceptable that the official took a free hotel stay from a private bank under Bundesbank…
Fed's Ferguson on macroeconomic outlook
In a speech on 'Macroeconomic Outlook and Uncertainties' given on 8 April, Roger Ferguson of the Federal Reserve said the macroeconomic outlook for the United States is favourable, overall. There is the possibility that an adverse shock will expose an…
Fed's Poole on trade, wages, employment
In a speech on 'Trade, wages and employment' given on 25 March, William Poole of the Federal Reserve Bank of St. Louis said only pessimists believe that U.S. entrepreneurs will be unable to compete successfully in world markets using new technology…
Bank of Japan Monthly Report, April 2004
The Bank of Japan published its April 2004 Monthly Report of Recent Economic and Financial Developments on 13 April. In the report the BOJ said that the prospects for a sustained economic recovery remained bright.
RBNZ paper on inflation targeting central banks
This RBNZ paper tests the standard quadratic approximation to central bank preferences on data from Australia and New Zealand, two of the earliest explicit inflation targeting countries.
Bank of Canada cuts interest rates to 2 per cent
The Bank of Canada announced on Tuesday 13 April that it is lowering its target for the overnight rate by one-quarter of one percentage point to 2 per cent.
Fukui pledges to maintain current monetary policy
Bank of Japan governor Toshihiko Fukui reaffirmed to parliament on Tuesday 13 April his commitment to maintain the current super-easy monetary policy framework, until the prolonged deflation comes to an end.
Gov't and Bundesbank agree to work together
The German Government has agreed to work together with the Bundesbank over the Ernst Welteke scandal, it was reported on Tuesday 13 April, as both organisations try to prevent their conflict from escalating.
Russia to revise exchange rate mechanism
The Russian Central Bank will revise its mechanism for setting exchange rate targets, Central Bank Deputy Chairman Konstantin Korishchenko declared. According to him, the bank is considering the possibility of changing its exchange rate policy.
ECB's Papademos on Stability and Growth Pact
In a speech on 'Some reflections on the Stability and Growth Pact' given on 5 April, Lucas Papademos of the ECB said recent experience has taught us that there is room for improvement in the implementation of the rules. So it would help to strengthen…
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…