Monetary Policy
Bank of Israel: Inflation expectations fell in May
The Bank of Israel said on Monday 16 June that Israel's M1 money supply totalled NIS 31.7 billion in May, a 0.9% rise from the preceding month, according to Globes report. It also reported that inflation expectations have fallen for the last three months.
BOC head quits posts in H.K. amid inquiry
Former chief executive of Bank of China's Hong Kong unit, Liu Jinbao, has stepped down from his positions at the Hong Kong Stock Exchange and at the Hong Kong Monetary Authority as its exchange fund advisor, Bloomberg reports.
Duisenberg testimony to European Parliament
In testimony before the Committee on Economic and Monetary Affairs of the European Parliament Wim Duisenberg of the European Central Bank said that despite the rise of the euro in the last year, the exchange rate of the European currency accurately…
Dodge says 'It All Starts with the Data'
In a speech entitled 'It All Starts with the Data' David Dodge of the Bank of Canada paid tribute to the unsung heroes behind central bankers and other policy-makers. Statisticians, he said, "constantly labour under tight resource, financial, and time…
HKMA Quarterly Bulletin, June 2003
The Hong Kong Monetary Authority (HKMA) on 12 June published the latest issue of its Quarterly Bulletin. This issue contains four feature articles including 'The Impact of Interest Rate Shocks on the Performance of the Banking Sector' which provides an…
Change in the remit of the Bank of England's MPC
In a letter from Gordon Brown to Eddie George, governor of the Bank of England, the chancellor sets out his intention to change the MPC's remit in the next Pre-Budget Report to give the Bank of England a symmetric inflation target as measured by the…
Fed Res Bank of Minneapolis - Annual Report 2002
The Federal Reserve Bank of Minneapolis has published its Annual Report for the year ended 2002. The Annual Report contains an article 'Between Two Worlds How Do Credit Markets Work? - An investigation into credit availability in the Minneapolis-St. Paul…
New Second Permanent Secretary at the Treasury
Professor Nicholas Stern will take over from Sir Robert Culpin in September as the new Second Permanent Secretary at the UK Treasury. Nick Stern has been Chief Economist and Senior Vice President at the World Bank, Washington D.C. since July 2000.
Bulgaria ruling party ready for c bank compromise
Bulgaria's ruling party floor leader Plamen Panayotov told journalists in parliament on Thursday 12 June that the party was ready for a compromise on whom to nominate as the next central bank governor, according to bnn.
Fed can push harder against deflation- Fed's Poole
St. Louis Fed President William Poole told Reuters in an interview that the Federal Reserve "can push harder" if necessary to prevent a deflationary spiral from happening.
ECB's Welteke says global growth conditions good
Ernst Welteke said on Friday 13 June thatmacroeconomic conditions are favourable to growth all over the world but enterprises must have confidence to sell their goods, according to a report by Reuters.
ECB criticised by eurozone national central banks
The European Central bank faces criticism for trying to push through proposals without sufficient consultation, according to a Handelsblatt report. The report said proposals presented to the ECB's 18-member governing council increasingly contain details…
ECB's Tumpel-Gugerell sees no deflation risk
The ECB's newest council member Gertrude Tumpel-Gugerell has said she sees neither symptoms of deflation nor the risk of deflation, reports Frankfurther Allgemeine Zeitung.
SARB reduces interest rates by 1.5%
The South African reserve bank cut interest rates on Thursday 12 June for the first time in 21 months to 12 per cent, according to a report by Business africa. Governor Tito Mboweni said the central bank would remain alert to inflation risks though.
Fed's- Beige Book: US economy struggling
The Federal Reserve Beige Book released 11 June said the US economy has struggled to gather pace since the end of the Iraq war and the performance of output and employment has been disappointing.
ECB Monthly Bulletin halves growth forecast
The European Central Bank published its June 2003 Monthly Bulletin on 12 June. It halved its growth forecast for the eurozone this year to just 0.7 per cent from 1.6 per cent. Inflation was projected at 2.0 per cent this year, slightly above earlier…
Fukui speech to Euro 50 Group Roundtable
In his keynote speech to the Euro 50 Group roundtable Toshihiko Fukui of the Bank of Japan said the Bank of Japan stands on the front line of the war against deflation. However, we have used up the greatest weapon in a central bank's arsenal, thus, in…
Duisenberg to G. d'Estaing on Constitution Treaty
Letter from the ECB President Wim Duisenberg to the President of the Convention, Valery Giscard d'Estaing, regarding the draft Constitutional Treaty, 5 June.
Ferguson - Economic challenges facing US and Japan
In a speech on 'Uncertain Times: Economic Challenges Facing the United States and Japan' Roger Ferguson of the Federal Reserve described the country's near-term economic prospects as "still somewhat clouded" and said "preventing deflation remains…
Speculation RBI's Jalan will leave c bank early
Reserve Bank of India governor Bimal Jalan's may depart from the RBI before the end of his tenure, Rediff.com reports. Speculation surrounds his possible successor, with former deputy governor Y Venugopal Reddy mentioned as a possible candidate.
KJ Udeshi named RBI's first woman deputy governor
The Reserve Bank of India has appointed Ms KJ Udeshi as a deputy governor. She becomes the first woman to hold the post of deputy governor and replaces GP Muniappan who retired on May 31.
Serb leaders question c b's Dinkic's performance
A report on Radio B92, Belgrade says Serbian National Bank governor no longer enjoys political support. The report accuses Dinkic of using his position for the interests of his party, and claims that his party, G17 Plus, has been discouraging foreign…
Estonian central bank looks forward to euro
The president of the Bank of Estonia, Vahur Kraft, has set 2006 as the time "horizon" for Estonia in terms of joining the euro, according to a report by Estonian Radio.
Duisenberg biography dredges up 'dim' past
A new biography of European Central Bank president Wim Duisenberg by two Dutch journalists reveals the central banker's unhappiness at the IMF in the 1960s, courtesy of a small and badly-lit room, according to the Financial Times.