Monetary Policy
Bundesbank- German deficit may make ECB job harder
Bundesbank Chief Economist Hermann Remsperger said in an interview a third breach in as many years by Germany "would further damage the credibility of Europe's stability and growth pact, which would ultimately make a stability-oriented monetary policy…
Greenspan to deliver monetary testimony 15 July
The US House Financial Services Committee has announced Federal Reserve Chairman Alan Greenspan will testify before the committee on 15 July.
Bank of Estonia's Ross to take up IMF role
The head of the Bank of Estonia's division for international and public relations Tanel Ross is to become adviser to the director of the Nordic-Baltic Constituency of the International Monetary Fund (IMF) in August.
Union: Trichet to take over ECB presidency, 1 Nov
Bank of France Governor Jean-Claude Trichet will replace Wim Duisenberg at the head of European Central Bank on Nov. 1, Agence France-Presse reported, citing Jean-Marie Roux, a union member at the French central bank.
Monday Special - Basel's Banking Behemoth
The BIS is most commonly understood to serve as a forum for central bankers and financial regulators to meet and discuss how to keep the world's financial system on the rails. Its role as a bank is often overlooked. The BIS's balance sheet is large…
Mboweni may be ready to serve again, if he's asked
South African Reserve Bank governor Tito Mboweni denied in an interview that he had described himself as a one term governor, saying he would consider the issue of serving a second term at the SARB next year, Bloomberg reported.
Bulgaria c bank-Report warns on political decision
A report published Monday highlights the possibility of a politically motivated choice of the next governor of Bulgaria's national bank as a key risk, Novinite reported. "Bulgaria: Beyond the Facts" warns the decision may put at risk the independence of…
BOJ's Fukui affirms vow to keep rates near to zero
Bank of Japan Governor Toshihiko Fukui has said the BOJ will continue to keep interest rates close to zero until consumer prices become positive, Bloomberg reported. The comment comes after bond yields more than doubled since June 11 as hopes for an…
Bundesbank doubts German growth forecasts
Bundesbank official Hans Reckers said in an interview published Sunday that German government growth forecasts of 2% are 'much too optimistic'. He suggested a growth rate of 1% to 1.5% for 2004 would be more realistic, RTE News said.
RBA's McKibbin confident growth will continue
Reserve Bank of Australia board member Warwick McKibbin said in an interview a lot of other countries are looking to Australia for lessons on why we are doing so well. He also suggested that Australia will keep growing at close to 3.7 per cent, Bloomberg…
Article asks Is BOT too focused on the short term?
An article in The Nation asks whether the Bank of Thailand is focussing too much on the short term and risking the ability to tackle possible problems with economic fundamentals later on in its foreign exchange-rate management.
Riksbank's Bergstrom says rates may ease more
Riksbank board member Willy Bergstrom to ld Reuters Sunday that the Swedish central bank may make further interest rate reductions, despite easing in both June and July.
IMF's Krueger on supply, demand & deadlines
In the speech 'Supply, Demand & Deadlines: A Workshop on Economics for Journalists' Anne Krueger of the IMF said economics is important-and so is reporting economics well. The IMF's role-acting alongside the World Bank, the UN, and national governments…
Triennial central bank survey of for ex activity
In April and June 2004, the G10 central banks will carry out their regular global survey of foreign exchange and derivatives market activity coordinated by the BIS. The survey was last conducted in April and June 2001. An increased number of 54 central…
Uzbekistan action plan on currency convertibility
The government of Uzbekistan has made a pledge to introduce the long-awaited convertibility of the national currency, setting late November as the deadline for this move. An action plan developed by the Uzbek government aims to remove all restrictions on…
Sweden's Riksbank cuts repo rate by 0.25 percent
The Sveriges Riksbank announced on 4 July that it decided to lower the repo rate from 3.0 per cent to 2.75 per cent. In a press release the Bank said inflation has recently been slightly lower than expected, while both domestic and imported prices have…
Padoa-Schioppa on co-operation in Asia and Europe
In the speech 'Regional co-operation: experiences in East Asia and Europe' Padoa-Schioppa of the European Central Bank said that given the degree of regional integration already achieved, I believe that Asian regionalism will prove to be a sustainable…
Tumpel-Gugerell at European Banker of the Year 02
In a speech in honour of the European Banker of the Year 2002 Gertrude Tumpel-Gugerell of the ECB said a good banker has to be able to evaluate risks to successfully distinguish between potentially good and bad investments. Economic progress is dependent…
BIS - Annual Report April 2002 - March 2003
The Bank for International Settlements has published its Annual Report for the year ended April 2002 - March 2003. For the first time the annual report contains details of the salary of the General Manager, Malcolm Knight at 617,050 Swiss francs (US$460…
Andrew Crockett: Central banking under test?
In the speech 'Central banking under test?' Andrew Crockett said central banks have been extremely successful in their long war against inflation. And yet, just as they have been emerging victorious from one battlefront, another, deflation, seems to have…
Knight reviews the activities of the BIS for 02-03
In the speech 'Activities of the BIS - The year 2002-03 in review' Malcolm Knight of the BIS said the effectiveness and accountability of increasingly independent monetary authorities depends importantly on having put in place sound governance and…
"Take a razor to the debate on deflation"
An article published in the Financial Times asks how deflationary panic can be averted and suggests that a little deflation would be far from catastrophic in any case.
BOK faces dilemma in managing FX reserves
Korea's foreign exchange reserves topped the $130 billion mark according to the Bank of Korea. Representing a rise of $10.2 billion from $121.41 billion at the end of 2002, Korea Times reported.
Israel's Klein praises finance minister on economy
David Klein, governor of the Bank of Israel, has praised the country's finance minister saying demonstrated leadership has changed the economic picture significantly, Reuters reported.