Monetary Policy
ECB Press Conference
At the ECB's post meeting press conference on Thursday Wim Duisenberg said taking due account of new economic and monetary information as well as the latest geopolitical developments, we concluded that the current monetary policy stance remains…
French central bank employees demonstrate again
Bank of France employees went on strike again Thursday and demonstrated in Paris. The action concerned plans to close a number of the Bank's branches.
Iraq central bank appears unlooted
Contrary to many early reports it seems the central bank of Iraq's main vaults have escaped looting and still contain U-S dollars, Iraqi dinars, gold and items from the museum put there for safekeeping.
Tonga appoints woman as governor of central bank
Tonga has appointed a woman as head of the country's central bank. Siosi Cocker Mafi has worked at the Bank since 1993 and becomes the first woman to govern a central bank in the Pacific Islands.
Minutes show Fed had deflation worries in March
Policymakers expressed concern about deflation at the Federal Reserve's March meeting of the rate setting FOMC minutes released Thursday showed.
IMF sees need for Japan inflation target
A senior adviser at the IMF's research department said Friday that the Bank of Japan needs to create expectations that deflation can be beaten and should consider introducing an inflation targeting policy.
Wim Duisenberg gets award from Austrian president
Decoration for Dr. Willem F. Duisenberg, President of the European Central Bank from the President of Austria, 9 May 2003.
Chicago Fed 2003 Bank Structure Conference
On May 7-9, the Federal Reserve Bank of Chicago will hold its 39th annual Conference on Bank Structure and Competition. The conference, to be held at the Fairmont Hotel in Chicago, has a rich tradition of serving as a forum to encourage an ongoing…
Role of Money Stock in Conducting Monetary Policy
Bank of Japan research paper examining economic and financial developments since the 1990s. This paper discusses (1) the role of he money stock within the Bank of Japan's (the Bank's) monetary policy and (2) why the relationship between the money stock…
Rutledge on Implementing the New Basel Accord
In the speech 'Implementing the New Basel Accord' William Rutledge of the Federal Reserve Bank of New York said that effective supervision of modern banking organisations will necessarily entail a closer and more cooperative partnership between industry…
Bank of England Maintains Interest Rates at 3.75%
The Bank of England's Monetary Policy Committee on Thursday voted to maintain the Bank's repo rate at 3.75%.
CBO tightens norms for appointment bank personnel
Under new rules banks will have to assess the suitability of candidates for senior positions such as CEO's under 'competence criteria' set by the central bank of Oman (CBO) before approaching the CBO for approval of the appointment.
ECB hold interest rates steady at Thursday meeting
At its 8 May meeting the Governing Council of the ECB decided to maintain the current level of interest rates for the eurozone.
Russia may allow central bank to issue bonds
Russia's finance ministry plans to present a draft resolution allowing the central bank to issue zero-coupon bonds.
Hungary may delay euro adoption until 2009 or 2010
Hungary's central bank chief has said the country will have to delay adoption of the euro until 2009 or 2010 if Hungary is not able to meet budget deficit targets.
ECB to aim for inflation 'close to 2%'
The ECB said Thursday that its Governing Council agreed that in the pursuit of price stability it will aim to maintain inflation rates close to 2% over the medium term. "This clarification underlines the ECB's commitment to provide a sufficient safety…
Federal Reserve keeps interest rates unchanged
The Federal Open Market Committee decided to keep its target for the federal funds rate unchanged at 1-1/4 percent, 6 May.
Moskow on open markets and expanded trade
In the speech 'Open Markets and Expanded Trade' Michael Moskow of the Federal Reserve Bank of Chicago said he accepts the consensus view among economists that there's a relationship between globalization and prosperity. But agreement or disagreement on…
Cathy Minehan on the economic outlook
In a speech to the Vermont Economic Outlook Conference Cathy Minehan of the Federal Reserve Bank of Boston said the combination of inherent economic resiliency, patience and perspective on all our parts, and a tendency toward more rather than less stable…
Fed's Bies on corporate governance
In the speech 'Corporate Governance' Susan Schmidt Bies of the Federal Reserve said she believes the Sarbanes-Oxley act is a wake-up call for the internal auditing profession.
UK Treasury rejects MPC transparency call
The UK Treasury has rejected calls for its selection procedure to the Bank of England's interest rate setting MPC to be more open saying that the appointment process should remain confidential for reasons of market sensitivity.
Banque de France staff urged to strike
Unions have called for further strike action by Bank of France employees over the decision by the Bank to reform its branch network.
NY Fed candidate Fischer favours inflation targets
A leading contender for the job of president of the New York Fed, Stanley Fischer, expressed his support for inflation targeting on Tuesday saying "Inflation targeting is a good way to conduct monetary policy".
Mexico redesigns currencies to help blind people
The Bank of Mexico intends to make alterations to its bank notes to help the blind and visually impaired distinguish them by making them identifiable by touch.