Monetary Policy
New governor of Bulgarian national bank by Friday
Bulgaria's parliament is now expected to name the new governor of the central bank by the end of the week, according to Novinite. The further delay stems from the need to find a third candidate as "two candidates for Governor is no choice at all," the…
Interview with Bank of England's Stephen Nickell
UK inflation has peaked and will soon head lower, Bank of England Monetary Policy Committee member Stephen Nickell told Reuters in an interview on Tuesday 17 June. He also played down the importance of the government's plan to switch the Bank's inflation…
Fed Reserve Bank of New York - Annual Report 2002
The Federal Reserve Bank of New York has published its Annual Report for the year ended 2002.
Norges Bank - Annual Report 2002
The Norges Bank has published its Annual Report for the year ended 2002.
Large on convergence in insurance and banking
In a speech on 'Convergence in Insurance and Banking: Some Financial Stability Issues' Andrew Large of the Bank of England said the data deficiencies we confront today where the actual location of risk is so opaque is a major challenge. Better…
Bank of Estonia - Annual Report 2002
The Bank of Estonia has published its Annual Report for the year ended 2002.
ECB's Issing not worried by euro rise - Report
Rather than being overvalued the euro is, in European Central Bank chief economist Otmar Issing's view, "above all" a correction of its previous undervaluation, he told Der Spiegel magazine.
Rate commitment could hit Fed credibility-Broaddus
Richmond Fed president Alfred Broaddus has warned the Federal Reserve may lose credibility if a commitment to hold interest rates down to fight deflation becomes difficult to maintain due to an unexpected shift in the economy's fortunes, according to…
Iraq shadow over the BIS?
Some European central bankers are said to be unhappy with the recent appointment of Roger Ferguson as head of the Financial Stability Forum. It is not that Ferguson is thought to lack qualifications for the job - quite the contrary, there is much respect…
Shift at the FSF
But so far as the FSF goes, there is more to the criticism than sheer old European bloody-mindedness. The appointment does signal a shift.
Basel bunkum
No one understands the new Basel accord. Grown men are reduced to tears when they try. There are simply too many details for any one person to digest. But it is troubling indeed to learn that people don't even seem to understand how it was arrived at in…
Trichet brings SDRM down to earth
The IMF's much-vaunted Sovereign Debt Restructuring Mechanism is the latest casualty in a string of apparently wasted efforts in attempting to find some way to save the world from the terrors of sovereign default. But a few months ago Banque de France…
Duisenberg soldiers on
No central bank takes kindly to politicians tampering with their business, and the ECB is no exception. In advance of its long-awaited rate cut this week, the ECB was told by Belgian finance minister Didier Reynders to be more active: "It is about time…
Duisenberg soldiers on
No central bank takes kindly to politicians tampering with their business, and the ECB is no exception. In advance of its long-awaited rate cut this week, the ECB was told by Belgian finance minister Didier Reynders to be more active: "It is about time…
Duisenberg on key issues in payment systems
In a speech on 'Key issues for the ECB in the field of payment systems' Wim Duisneberg of the European Central Bank said the euro area would greatly benefit from an integration and consolidation of its securities clearing and settlement infrastructure…
Dodge on recent economic developments
In a speech on 'Recent Economic Developments and the Conduct of Monetary Policy' David Dodge of the Bank of Canada reviewed some of the developments that are influencing both demand and prices for Canadian goods and services.
"Do not impose a currency crisis on Europe"
In an article in the Financial Times Charles Wyplosz asks which exchange rate band should apply to the EU's accession countries aiming to qualify for membership of the euro. The narrow exchange rate mechanism band of 2.25 per cent may apply but the new…
Estonia re-appoints central bank council chairman
Mart Sorg has been reappointed chairman of the council of the Bank of Estonia, for a second term, Estonian Television reports. Sorg said he intends to hold a balance of political forces in the new council.
Court to seal fate of ECB heir apparent Trichet
Bank of France governor Jean-Claude Trichet will find out on Wednesday 18 June if he has been cleared or found guilty in a banking fraud trial, according to a Reuters report. The verdict will have implications for the succession as president of the ECB…
RBI ED quits over Udeshi's elevation
After the appointment of KJ Udeshi as the first woman deputy governor of the Reserve Bank of India, the executive director of the RBI, KL Khetrapal resigned from his post, according to the Economic Times. Sources said Mr Khetrapal was unwilling to report…
Central bank technocrats rule democratic roost
Joseph Stiglitz said in an article in Business Day, Johannesburg, that research shows that if central banks focus on inflation, they do a better job at controlling inflation. However, controlling inflation is not an end in itself: it is merely a means of…
RBI's Jalan hails India's monetary policy
Despite drought and the global economic slowdown India's economy remains fast growing with its monetary liberalisation policy being adopted by other nations in the Asian region, Reserve Bank of India Governor Bimal Jalan said, according to a report by…
HKMA to establish Credit Reference Agency
The Hong Kong Monetary Authority announces plan for establishment of Commercial Credit Reference Agency in Hong Kong, 16 June.
Bundesbank dampens rate cut speculation
Bundesbank chief Ernst Welteke poured cold water on further ECB rate cut talk on Monday 16 June, according to AFP, suggesting it was now up to governments and politicians to get their economies in order.