Monetary Policy
ECB's Padoa-Schioppa on exchange rate issues
In a speech on 'Exchange rate issues relating to the acceding countries' given on 2 February, Tommaso Padoa-Schioppa of the ECB said a smooth participation in ERM II will require that the overall policies of participating Member States are consistent and…
Nyberg on developments in the Swedish economy
Sveriges Riksbank Deputy Governor Lars Nyberg spoke to the Swedish Shareholders' Association last week. Nyberg said that although the dollar has weakened due to developments in the US trade and budget deficits it was generally considered to be have been…
Kohler on adoption of the euro in Central Europe
In a speech on 'The Euro - Towards Adopting the Common Currency in Central Europe' given on 2 February, Horst Kohler of the IMF said that imbalances in the global current account remain a risk to economic recovery though a stronger euro and weaker dollar…
Eastern Caribbean Central Bank- Annual Report 2003
The Eastern Caribbean Central Bank has published its Annual Report for the financial year 2002-2003. In his Foreword EECB governor K Dwight Venner said the Eastern Caribbean currency union experienced a challenging year with economic indicators mirroring…
Court told Bank knew BCCI's 'dubious reputation'
The High Court in London was told on Monday 2 February that the Bank of England was aware that the collapsed Bank of Credit and Commerce International had an "appalling reputation" and that other banks "wouldn't touch BCCI with a barge-pole" before…
Strong euro does not require rate cut - Buba
According to Hermann Remsperger, the Bundesbank's chief economist, the ECB does not need to cut eurozone interest rates to stimulate domestic demand. The ECB's rate-setting Governing Council is due to meet on Thursday 5 February.
PBOC offers huge reward to Olympic coin designer
The People's Bank of China announced on Tuesday 3 february that it will pay up to 1.5 million yuan (US$181,378) for winning commemorative coin designs for the 2008 Olympic Games.
Central banks in the dock: lessons from BCCI
As the Bank of England begins its marathon court case over its handling of the failure of BCCI, CentralBankNet spoke to Charles Proctor about the lessons for other regulators.
Sweden's Rosenberg on current monetary policy
In a speech on 'The current monetary policy situation' given on 29 January, Irma Rosenberg of the Sveriges Riksbank said that the information received so far since December does not appear to significantly alter the picture of a recovery in economic…
Wellink on prospects for the European economy
In a speech on 'Prospects for the European economy' given on 27 January, Nout Wellink of De Nederlandsche Bank said he was optimistic about the prospects for the European economy.
RBNZ prepared to constrain asset bubbles
The Reserve Bank of New Zealand revealed on Friday 30 January that in rare circumstance it is prepared to adjust monetary policy to constrain extreme asset price bubbles, whereas normally the Reserve Bank is only required to ensure consumer price…
RBNZ's Bollard on asset prices and monetary policy
In a speech on 'Asset prices and Monetary Policy' given on 30 January, Alan Bollard of the Reserve Bank of New Zealand said he would be willing to use monetary policy "to constrain extreme asset price bubbles," but that the current situation with housing…
Court rejects Bank of Israel's petition
The Bank of Israel suffered a setback on Sunday 1 February when the High Court of Justice refused to block treasury intervention in the central bank's wages policy.
Spain has 'very good' candidates to replace Solans
Spain can offer "very good candidates" to replace European Central Bank executive board member Eugenio Domingo Solans when his mandate ends on May 31, said Economy Minister Rodrigo Rato this week.
Trichet nose his skiing
Attending a summit in London this week ECB boss Jean-Claude Trichet stood out from the crowd with what was described as a large plaster on his nose.
Fazio could faces job loss in shake-up
The Italian Government is apparently seeking to vary the appointment terms of the Governor of the Bank of Italy, currently Antonio Fazio, in a move that would force him to step down.
Brash speech criticised by Maori MP
Former Reserve Bank of New Zealand governor Don Brash, now leader of the National Party, has been criticised by Georgina te Heuheu, the party's only Maori MP, for a speech she described as "Maori bashing".
Howard Dean calls Greenspan a political burden
US Democratic presidential contender Howard Dean said on Friday 23 January that Fed Chairman Alan Greenspan had become too political and should be replaced.
Kazakhstan appoints new central bank chief
Kazakhstan's parliament on Monday 26 January approved Anvar Saidenov, 43, as the new head of the former Soviet Republic's central bank.
RBA's Macfarlane awarded top Australia Day honour
Governor of the Reserve Bank of Australia Ian Macfarlane was awarded Australia's highest honour this week in a list published each year on Australia Day.
Bank of Israel ranks No.1 on pay increases
For the fourth year in a row the Bank of Israel topped a list of government bodies with overpaid employees, according to the Finance Ministry's Wage Report for 2002.
IMF deputy Sugisaki returns to Japan
IMF deputy managing director Shigemitsu Sugisaki, 62, is leaving his post. He was joined at a farewell dinner in Washington by some former colleagues, including Stanley Fischer.
Chicago Fed National Activity Index, December 2003
The Chicago Fed National Activity Index (CFNAI) December 2003 was published on 29 January. The December CFNAI was +0.13 in December, the fourth consecutive positive monthly reading.
Minutes from the Federal Open Market Committee
The Federal Reserve on 29 January released the minutes of its FOMC meeting of 9 December. The minutes showed "a number" of members of the Committee felt that deleting a pledge to keep rates low "for a considerable period" would enhance the FOMC's…