Monetary Policy
Annual Report of the ECB's Anti-Fraud Committee
The Annual report on the activities of the Anti-Fraud Committee of the European Central Bank has been published, covering the period from March 2002 to January 2003.
RBA Statement on Monetary Policy, May 2003
The Reserve Bank of Australia has released its May 2003 Statement on Monetary Policy. The global economy entered a period of slower growth towards the end of last year, which has continued into 2003. While this has been generally expected to be temporary…
Chicago Fed's Moskow on corporate governance
In a speech on 'Corporate Governance: A Rational Course for Public Policy' Michael Moskow of the Federal Reserve Bank of Chicago said he supports the proposals first-and-foremost because they are consistent with the principles of good corporate…
IMF Working Paper - The ECB's Money Pillar
In the IMF Working Paper 'The ECB's Money Pillar: An Assessment' Albert Jaeger discusses the case for a money pillar in the European Central Bank's (ECB) monetary policy strategy. The Paper says effective communication of the ECB's monetary policy…
IMF Working Paper - The ECB's Inflation Objective
IMF Working Paper 'The ECB's Inflation Objective' by Mads Kieler. The ECB's objective of medium-term inflation below 2 percent has been portrayed by critics as ambiguous, asymmetric, and excessively stringent. This paper attempts a comprehensive…
Indonesia announces new central bank governor
A parliamentary commission on Monday 12 May selected Burhanuddin Abdullah to head Indonesia's central bank, according to a report by Channel News Asia Mr Burhanuddin won 34 votes from commission members while current central bank deputy governor Miranda…
Brown reaffirms euro test results date
Gordon Brown on Tuesday 13 May repeated that the result of its five economic tests on whether Britain should join the euro would be announced by the first week of June, according to a report by Business & Finance
Bundesbank sees German public deficit at 3.5%
Bundesbank chief economist Hermann Remsperger said in an interview with Sueddeutsche Zeitung, reported by RTE News, that the German fiscal deficit would amount to 3.5% of gross domestic product (GDP) this year.
Fed's Parry doesn't expect deflation
Speaking on Monday 12 May, San Francisco Federal Reserve President Robert Parry said "I'm not expecting deflation. We will see a pick-up in real growth and the pace of that pick-up is likely to be stronger by 2004", Reuters reports.
Hungary - C bank accused of discredited policies
Kossuth Radio in Budapest reported that members of the Hungarian Socialist Party have criticised the National Bank of Hungary, saying the monetary policies of the central bank have been discredited after the MNB only warned about the dangers of an…
IMF delegates visit Croatian National Bank
A delegation from the IMF arrived in Croatia on Monday and held talks with the governor of the Croatian National Bank (HNB), Zeljko Rohatinski.
Bank of England Inflation report accolade
The Bank of England gets top marks for best inflation report, 13 May. All inflation targeting central banks produce Inflation Reports. But what makes a good report? Central banks' writing and reporting skills are assessed in a new report.
Bank of England is top of the targetters
The Bank of England has the best inflation report, (the document all inflation-targetting central banks publish), a study entitled "How do central banks write?", out Tuesday claims. CentralBankNet reports from the press conference in London.
CentralBankNet Monday Special Feature
SPECIAL FEATURE - The threat of deflation in Europe prompted the European Central Bank to soften its inflation objective and redefine its monetary policy strategy on Thursday. In this weeks CentralBankNet special feature we look at what the ECB has done…
Duisenberg on accepting Austrian decoration
On accepting an Austrian decoration from Dr Thomas Klestil, the Austrian President, Wim Duisenberg of the European Central Bank said "I should again like to express my sincere gratitude for this high decoration. It strengthens my belief that the cause I …
Moskow at 39th Annual Bank Structure Conference
In a speech at the 39th Annual Conference on Bank Structure and Competition Michael Moskow of the Federal Reserve Bank of Chicago said the conference would discuss the role of boards of directors, changes in financial regulation, accounting standards and…
Minutes of Riksbank Board meeting, 24 April
Minutes of the Sveriges Riksbank Executive Board meeting on 24 April were published 12 May. The minutes said one of the starting points in the assessment of the inflation picture was that the war would be short. Based on this, the Executive Board…
The case for a common Asian currency by 2025
An article in Asahi Shimbun considers the case for a common currency in Asia, saying Asia is a logical candidate to take a leadership role in the reform of global currency markets.
Germany drops pledge to balance budget
Germany on 11 May conceded defeat in its battle to cut spending and avoid recession by dropping its pledge to balance its budget by 2006 as required under the Stability and Growth Pact, according to a report by EurActiv.
New splits over UK euro entry decision
On Sunday 11 May splits emerged over the euro, reports the Financial Times. UK cabinet ministers are sending different signals about whether euro entry is inevitable at some future point and the timing of a referendum.
Zeti reappointed Malaysia's cen bank chief: report
Reports on Sunday 11 May from ChannelNewsAsia said that Malaysia's central bank chief Zeti Akhtar Aziz has been reappointed for another three-year term. A spokesman said the King was pleased with Zeti's work in leading Bank Negara which has brought…
Central bankers see ray of light in global economy
The world's leading central bankers, at a regular meeting at the BIS, shrugged off the recent surge in the euro as a recovery from weakness and said there were rays of light in the global economy, according to a report from Reuters.
Qatar and Jordan central banks full IFSB members
The Islamic Financial Services Board has approved the applications of Qatar Central Bank and the Central Bank of Jordan to join the IFSB as full members.
Minutes of the Federal Open Market Committee
The Federal Reserve on 8 May released the minutes of its FOMC meeting of 18 March. The minutes show policymakers were concerned that "part of the recent weakness" resulted from factors beyond the war and they were anxious that there "was as yet no…