Monetary Policy
Bank of Japan sees 'virtually flat' economy
The Bank of Japan's August monthly report published on Monday 11 August said "economic activity remains virtually flat", according to Reuters, and on job conditions it said the situation remained tough although the number of people in work had stopped…
Swedes to reject euro, Nordea forecasts
Economists at Nordea have changed their forecast for the first time, according to Bloomberg, and now say Sweden will vote no in the 14 September euro referendum.
Zimbabwe gov't bans cash 'hoarding'
Zimbabwe's President Robert Mugabe passed a law last week banning the hoarding of bank notes, according to a report by Reuters. The law bypassed parliament and one economist said he was "mystified" about how it would be applied.
Slovenia not ready to join EU says France Arhar
Former governor of the central bank of Slovenia, France Arhar, said in an interview reported by the STA News Agency thathe didn't think Slovenia was ready to join the EU yet. If Slovenia wishes to catch up with the EU within ten years, its minimum growth…
The Bank of Thailand's 'Young Guns'
They're fresh, well-educated and thrilled to be serving their country, they are the Young Guns at the Bank of Thailand. This article in the Bangkok Post takes a look at the "new blood" of economists at the Bank of Thailand, who say that unlike an…
Who will be the banker bet?
This article in the Financial Times looks at the current crop of top central bankers and asks who will secure their place in history as a trustworthy custodian of the economy? Timing is everything, and while Alan Greenspan would have been a "no contest"…
Strikes may delay economic recovery: BOK chief
Bank of Korea (BOK) governor Park Seung said on Thursday 7 August that the central bank will keep a close eye on economic developments as there are both positive and negative signs present, reported the Korea Times. But if labour and risk management…
Bank of Japan keeps monetary policy steady
After buoyant economic data suggested that the Japanese economy's problems may be easing, the Bank of Japan decided to keep monetary policy unchanged at its Friday meeting, according to Associated Press.
No North American monetary union yet - BoC
In a speech on North American economic integration, reported by Reuters, David Dodge said the Canadian and US economies are currently too diverse for a single currency to work. He also said Canadian provinces needed a more streamlined system to regulate…
Fed's Bies on strengthening corporate governance
In a speech on 'The Role of Community Bank Directors in Strengthening Corporate Governance' given on 7 August Susan Schmidt Bies of the Federal Reserve said corporate governance and audit failures over recent months demonstrate how quickly trust can be…
Dodge on economic integration in North America
In a speech on 'Economic Integration in North America' given on 7 August David Dodge of the Bank of Canada said from a purely economic perspective, I have, as an economist, a strong predilection for continuing to tear down barriers to trade-preferably,…
What'll it be Sweden, in September's euro vote?
September's vote on adopting the euro has Sweden on edge, this article in BusinessWeek reports. So, is it ja or nej? Just a year ago, the yes side was well ahead. But a sluggish euro zone, along with a slowdown at home, has helped shift sentiment sharply.
ECB Monthly Bulletin, August 2003
The European Central Bank published its August 2003 Monthly Bulletin on 7 August. The report said economic activity in the euro area remained subdued in the first half of 2003, broadly in line with previous expectations. At the same time, there is…
Deutsche Bundesbank Monthly Report, July 2003
The Deutsche Bundesbank published the English version of its July 2003 monthly report on 7 August. The slumping economy has caused a renewed perceptible decline in employment, the report says. The rate of price increase picked up again a bit in June. The…
Central Bank of Sri Lanka - Annual Report 2002
The Central Bank of Sri Lanka has published its Annual Report for the year ended 2002. Notable progress was made on all fronts during 2002, the Annual Report says. The cessation of hostilities and the ongoing peace process brought not only a sense of…
Bank of England plans 'George Fellowships'
In recognition of Sir Edward George's achievements during his lifelong service, the Bank of England plans to introduce The George Fellowships which will be used to promote research in finance and economics.
Bank of England maintains interest rates at 3.5%
The Bank of England's Monetary Policy Committee today voted to maintain the Bank's repo rate at 3.5%, 7 August.
IMF urges Ireland to reduce inflation
In its annual review of the Irish economy the IMF called on the government to cut inflation and improve competitiveness, according to RTE News. In a statement, the Minister for Finance, Charlie McCreevy, welcomed the IMF assessment.
ASEAN ministers predict solid economic growth
The Manila meeting of ASEAN finance ministers was due to issue a statement at the end of talks forecasting economic growth at an average rate of between 4 and 4.5 per cent for 2003, Reuters reports.
ECB optimistic on euro zone recovery
The ECB said on Thursday 7 August that the latest economic data confirm that interest rates are appropriate, according to Reuters, because the outlook for price stability remains favourable and there is increasing reason to expect that economic activity…
BOJ to punish staff for faulty data-gathering
The Bank of Japan is to discipline officials who failed to correct errors in the calculation of data relating to unsecured debt instruments issued by companies to procure funds, according to East Day. The measures are designed to prevent public…
ECB's Issing sees recovery, rates appropriate
ECB Chief Economist Otmar Issing said "There are good reasons to reckon with an improvement in economic activity in the second half of 2003, which will gain pace in 2004", Bloomberg reports. However, he added that there's also "no reason for euphoria".
UK interest rates left unchanged
The Bank of England left interest rates unchanged on Thursday at 3.5 per cent. The decision was widely predicted, notes the Financial Times, after the MPC made a quarter point cut at its last meeting.
Applying efficiency measurement to central banks
The working paper "Applying Efficiency Measurement Techniques to Central Banks" from the Philadelphia Fed released on 6 August reviews the standard techniques of efficiency measurement and reviews some of the literature that has attempted to apply these…