Monetary Policy
Fed's Kohn on monetary policy
In a speech on 'Monetary Policy in a Time of Macroeconomic Transition' given on 25 March, Donald Kohn of the Federal Reserve said the Fed should make sure inflation has stabilised and labour market slack is easing before raising interest rates from their…
BoE's Nickell on European unemployment
In a speech 'A Picture of European Unemployment: Success and Failure' given on 26 March, Stephen Nickell of the Bank of England said average unemployment in Europe today is relatively high compared with OECD countries outside Europe. The majority of…
Central bank financial independence
This Bank of Spain Occasional Paper says that central bank independence is a multifaceted institutional design but the financial component has rarely been analysed. The paper sets out a comprehensive conceptual background for central bank financial…
Belgium's Praet calls for transparent selection
Belgian National Bank official Peter Praet, Belgium's unsuccessful candidate for the ECB said on Thursday 25 March that the process for selecting members of the ECB's executive board must be made more transparent.
Ghana to be HQ for West African central bank
The headquarters of the West African Central Bank (WACB) has been given to Ghana. The disclosures were made in Abuja Thursday by the Director of West African Monetary Institute (WAMI), the Nigerian-born Dr Michael Ojo, reports said.
ECB remains vigilent but expects recovery
ECB executive board member Gertrude Tumpel-Gugerell said in an interview Friday that the ECB still believes the eurozone economy will recover, but remains vigilant for any issues that could change that assessment.
Riksbank Bergstrom: Scope for easier policy
Deputy Governor of the Sveriges Riksbank Villy Bergstrom said in a speech on Friday 26 March that the latest Swedish economic data show that there is "some scope" to ease monetary policy further.
BOJ's Fukuma says Japan headed for recovery
The Japanese economy appears headed toward a stable recovery, a Bank of Japan policy board member said on Thursday 25 March, as the strong export-led rebound continues.
Monti in as candidate for IMF
EU competition commissioner Mario Monti has been put forward as a possible candidate to head the International Monetary Fund, according to a report.
Greenspan cancels speech with cold
Federal Reserve Chairman Alan Greenspan was due to make scheduled introductory remarks at a Fed conference in Washington on Friday (26 March) because of a cold, a spokesman said on Friday.
Bank of Israel staff plan strike action
The governor of the Bank of Israel David Klein met Thursday (25 March) with the secretariat of the Histadrut labour federation's bank workers' unit, Zion Shema, in an effort to avert a strike at the central bank.
Bank of England's finest audition as press
Unusual scenes at the UK parlaiment's Treasury select committee Thursday when more women than men turned out for the Bank of England's team for the first time.
Guynn on US growth and monetary policy
In a speech on 'Sustainable Growth and Monetary Policy' given on 24 March, Jack Guynn of the Federal Reserve Bank of Atlanta said low US interest rates must rise as the economy gathers steam, and while that point has not yet been reached, businesses and…
Chicago Fed's Moskow on the US economic outlook
In a speech on the 'U.S. Economic Outlook' given on 22 March, Michael Moskow of the Federal Reserve Bank of Chicago said that the Fed can't maintain its rate stance "indefinitely," predicting that as the economy gains strength the Fed's interest rate…
Boston Fed's Minehan on labour markets
In a speech on 'Labour Markets: What We Know and What We Don't' given on 24 March, Cathy Minehan of the Federal Reserve Bank of Boston said the Federal Reserve should not be so patient about keeping the benchmark interest rate low that it allows…
RBNZ's Orr on exchange rate intervention proposal
In a speech on the Reserve Bank of New Zealand's exchange rate intervention proposal given on 25 March, Adrian Orr of the RBNZ said that what the RBNZ is recommending is intervening when the moment is justified and opportune, with the outcome of trimming…
Mervyn King's Statement to UK Treasury Committee
Bank of England Governor Mervyn King told the UK parliament's Treasury Select Committee on Thursday 25 March that he wants to update the trade-weighted sterling index and has been in talks about doing so.
Welteke dashes hopes of ECB rate cut
Bundesbank president and European Central Bank (ECB) governing council member Ernst Welteke sought in a TV interview to dampen hopes for an interest rate cut.
Snow says US making progress on China peg
US Treasury Secretary John Snow told Congress on Thursday 25 March that the Bush administration thinks it's making progress in efforts to get China to stop pegging its currency to the U.S. dollar.
Brazil rules out relaxing inflation target
Brazil's central bank president Henrique Meirelles ruled out changing the 5.5 per cent inflation target set for this year, official news agency Agencia Brasil reported.
Chile central bank chief supports growth forecast
Vittorio Corbo, head of the Central Bank of Chile, told business leaders on Thursday 25 March that investment had begun to recover last year after a prolonged slump and the central bank was working hard to get inflation up to around 3 per cent following…
Bundesbank sees profits fall by €5bn
Germany's central bank has said that profits fell by €5bn last year compared to 2002. The drop was partly due to the lower valuation of its equities portfolio and a fall in the value of its dollar-denominated securities holdings.
ECB's Tumpel-Gugerell on an enlarged EU
In a speech 'Enlarged EU - Financial Strength and Weakness from a Global Perspective' given on 23 March, Gertrude Tumpel-Gugerell of the ECB said that while structural reforms, particularly of the labour markets, were needed in Europe, governments should…
Norges Bank conference on monetary policy
On Friday 26 March, Norges Bank will hold a conference on monetary policy in conjunction with the publication of Norges Bank's Annual Report for 2003.