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Monetary Policy

Bank of Canada Review, Spring 2003

The Bank of Canada published its Review for Spring 2003 on 15 May. The Review contains articles titled The Bank of Canada: Moving Towards Transparency, Inflation Targeting and Medium-Term Planning: Some Simple Rules of Thumb, Conference Summary: Price…

Philadelphia Fed Business Outlook Survey, May 2003

The region's manufacturers report weaker activity for the second consecutive month in April's Business Outlook Survey from the Philadelphia Fed. Indexes of general activity, new orders, and shipments all declined this month. Firms surveyed also reported…

Freedman on financial stability

In a speech on 'Financial Stability: National and International Issues' Charles Freedman of the Bank of Canada discussed recent developments in the area of financial stability -i nternational and national.

Central bank websites smarten IT up

Central banks have been fairly quick to use the internet and most now have their own websites. Several central banks including Spain, Brazil and Norway have recently relaunched their sites with added features and more information available. The Bank of…

US traces bulk of Iraqi central bank funds

Agence France-Presse reports that senior US Treasury official John Taylor said on Thursday 15 May,that the United States had identified most of the close to $ 1 billion, "We are getting more and more confirmation that the large bulk of those funds have…

Brazilian bill paves way for central bank autonomy

A bill was approved on Thursday May 15 which allows changes to the legal framework of Brazil's financial system and could see more autonomy for the central bank, according to a Reuters report. The vote, which was carried with a 97% majority in favour,…

IMF chief-Germany can still reach 0.5 pct growth

IMF chief Horst Koehler suggested on Thursday 15 May that the ECB had further room for rate cuts as inflation was not a problem for Germany or the other eurozone countries, according to Reuters. He also said that Germany still has a chance of reaching…

Wanted: An Alan Greenspan for South Korea

In a recent interview South Korean. When asked what he thought the Bank of Korea should do to boost growth, Bloomberg News reports thathe showed his determination to maintain the bank's independence: "I think that issue should be determined by the…

UK to announce euro entry decision on 9 June

The announcement over whether the UK has passed the five euro entry tests will be made on 9 June, according to the Financial Times and other newspapers. In what some reports called a dramatic announcement there will now be a decision-making process…

Costello hints at new term for RBA's Macfarlane

Australian Treasurer Peter Costello gave a strong hint Reserve Bank (RBA) governor Ian Macfarlane would be appointed to lead the central bank for another term, according to The Age newspaper. Mr Macfarlane's term is due to expire on September 17.

Upbeat on the UK, downbeat on Europe

Unveiling the Bank of England's May 2003 Inflation Report on Thursday, Mervyn King was upbeat about prospects for UK economic growth and inflation. The Bank predicts that growth will pick up to trend and inflation will fall to remain close to its target…

ECB predicts eurozone recovery

In its May bulletin published on Thursday 15 May, the ECB said "Looking ahead, a gradual strengthening of real GDP growth is expected to start later in 2003 and to gather more pace in the course of next year", according to the Financial Times

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