Monetary Policy
Moskow: No reason to change accommodative stance
Michael Moskow, the Chicago Fed president, said on Monday US jobs growth was encouraging and it was important to continue the relaxed monetary stance the FOMC currently holds, to provide some "insurance" against an unwelcome bout of disinflation, Reuters…
Dallas Fed McTeer says US payrolls jump good news
In response to audience questions after a speech given on Monday 10 November Dallas Fed chief Robert McTeer said he thought the Bank of England and RBA's recent decisions to increase interest rates should be given the benefit of the doubt and assume they…
IMF's Koehler says now not time for EU deficit cap
IMF chief Horst Koehler told an Austrian daily, according to Reuters, that it was not the right time to force eurozone countries to stick to the 3 percent deficit limit. He added that he did not favour letting countries that have been too loose with…
Tumpel-Gugerell: Institutions in Financial System
In the speech 'The Role of Institutions in the Financial System' given on 11 November Gertrude Tumpel-Gugerell of the ECB said an integrated European supervisory framework enhances the ability to react quickly, effectively and more transparently to any…
Brazil c bank chief - IMF deal 'insurance'
Brazil's central bank president, Henrique Meirelles, has said the new IMF loan deal would give Brazil cheap insurance against international market volatility. But officials said they did not intend to draw on a $14 billion loan package from the IMF…
BOK chief brushes off inflation worry
Bank of Korea governor Park Seung said Monday 10 November at the BIS meeting in Bangkok, according to the Korea Herald, "It's true that Korea's foreign-exchange holdings have grown considerably this year, putting upward pressure on the money supply".
Russian government wants 'mega-regulator'
The Russian government has called for proposals to be put forward about setting up a mega-regulator for financial markets, Gateway to Russia reports. The mega-regulator should divide regulatory and supervisory functions on the market, the report said.
Caruana on contemporary issues in credit risk
In the speech 'Contemporary issues in credit risk' given on 27 October Jaime Caruana of the Bank of Spain said adopting a more risk-sensitive treatment of credit risk will require significant work by all of us. What we learn about the factors driving…
Confidence, inflation targets improved says Reddy
Reserve Bank of India governor YV Reddy said on 10 November that the brighter outlook for the global economy increased confidence that India would hit its growth and inflation targets, Reuters reported.
Belgian demotion scandalises ECB insiders
CentralBankNet Special Feature: the sudden replacement of former Belgian central bank vice governor Marcia De Wachter by a political insider close to the new Belgian government has scandalised the top echelons of the Eurosystem. CentralBanknet reports on…
RBA Statement on Monetary Policy, November 2003
The Reserve Bank of Australia released its November 2003 Statement on Monetary Policy on 10 November. The RBA said it expects inflation to fall in the short term as the higher $A flows through to import prices, but then sees it picking it up again to…
IMF's Koehler to visit Eastern Europe this week
IMF Managing Director Horst Kohler will visit Armenia, Kazakhstan, Kyrgyz Republic, Russia and Tajikistan this week. The trip includes a speech at the International Conference on the Occasion of the Tenth Anniversary of the Introduction of the Tenge -…
Meirelles: Brazil interest rates will keep falling
Bank of Brazil president Henrique Meirelles said Friday, according to AE Brazil, that low inflation could mean interest rates will continue to fall from the current 19%. Speaking ahead of a sovereign debt conference at the Dallas Federal Reserve Bank,…
Zeti sees Malaysia keeping ringgit peg
Speaking at the closing session of Morgan Stanley's Asia Pacific summit, the chief of Malaysia's Bank Negara, Zeti Akhtar Aziz, said rising asset prices and consumer debt are not a problem in Malaysia. He also said Malaysia won't review its ringgit peg,…
Australia's RBA upbeat on economy
The Reserve Bank of Australia said in its monetary policy statement 10 November "The economic situation has evolved rapidly over months, both in Australia and abroad." The report paved the way for further interest rate increases, AFP said, as housing…
China's yuan not raised at G10 meeting-Thai c bank
The governor of the Bank of Thailand Pridiyathorn Devakula told reporters on Monday the issue of China's exchange rate policy was not raised at the G10 meeting of central bankers in Bangkok.
Trichet says G10 expect global economic recovery
ECB president Jean-Claude Trichet said on 10 November following the Bangkok meeting of G10 central bankers that each central bank was "making and doing what was necessary in its own environment" to keep interest rates at appropriate levels. Trichet said…
Ministry of Finance, BOK to exchange key personnel
Korea's Ministry of Finance and the Bank of Korea plan to exchange officials between the two organisations to build greater cooperation between themselves. The plan would allow for a greater exchange of know-how on critical economic issues, which the…
Chicago Fed's Moskow on U.S. Monetary Policy
In the speech 'U.S. Monetary Policy' given on 10 November Michael Moskow of the Federal Reserve Bank of Chicago said the desirability of a specific inflation target or range has been the subject of public debate among FOMC members. Moskow also said…
World Bank hails currency conversion in Uzbekistan
David Pearce, resident representative of the World Bank in Uzbekistan, told a press conference in Tashkent that the World Bank welcomed national currency conversion in Uzbekistan. Interfax said. However, the World Bank is not satisfied with the results…
Greenspan on the outlook for the US economy
In a speech to the Securities Industry Association annual meeting on 6 November Alan Greenspan of the Federal Reserve said soaring government budget deficits threaten the US economy in the long term and must be brought under control. But striking an…
Fed's Bernanke on the jobless recovery
In the speech 'The Jobless Recovery' given on 6 November Ben Bernanke of the Federal Reserve noted "a few encouraging signs" have appeared that a lengthy jobs slump was easing. "So far these signals of recovery remain tentative; on the basis of the…
The Canadian Phillips curve and regime shifting
This Bank of Canada Working Paper looks at the recent criticism of linear models of inflation for their poor forecasting performance, given that Phillips curves are usually estimated with linearity assumptions. Using two methodologies the Paper strongly…
Central Bank of Russia - Annual Report 2002
The Central Bank of Russia has published its Annual Report for the year ended 2002. Economic developments in Russia in 2002 were seriously affected by changes in the world economy, the Annual Report says. A quite favourable price situation on world…