Monetary Policy
ECB voting change could hinder UK euro entry
The UK's treasury select committee said on Monday April 28 in a report that the ECB's proposed change in voting arrangements could pose an "obstacle to entry" for Britain and the euro, according to the Financial Times.
Lithuania may be first from east to adopt euro
Lithuanian central bank chief Reinoldijus Sarkinas has said the east European country could be the first to adopt the euro in 2007 as it already meets conditions to adopt the single currency, according to a report by Bloomberg.
Bank of France :Trichet to propose branch closures
A report from Bloomberg news says Bank of France governor Jean-Claude Trichet will probably inform the central bank's board members that he plans to cut the central bank's branch network by more than 100.
Chile's new central bank chief tough but popular
The newly appointed president of Chile's central bank Vittorio Corbo has said the tight grip on inflation will be maintained as he takes office. Corbo is reported to joke, in the Reuters report, that markets rally every time U.S. Federal Reserve Chairman…
Repo rate left unchanged by Riksbank at 3.5%
Sweden's central bank left interest rates unchanged at its Thursday meeting citing the picture of future inflation it presented in the March Inflation Report as a major reason for the decision.
Bernanke - Will business investment bounce back?
In a speech 'Will Business Investment Bounce Back?' Ben Bernanke of the Federal Reserve said this recession is unique in being one of the few business-led-as as opposed to household-led-recessions of the post-World War II period. A strong recovery, he…
Moskow - Perspectives on Community Development
In a speech on 'Perspectives on Community Development' Michael Moskow of the Federal Reserve Bank of Chicago said we must be vigilant, creative and efficient in the way we conduct community development programs, learn from our mistakes and successes, and…
Solans on the ECB's Memorandum of Understanding
Eugenio Domingo Solans of the European Central Bank spoke of the close cooperation between the ECB and the European Commission (Eurostat) at the signature of the Memorandum of Understanding on Economic and Financial Statistics.
Chile appoints Corbo as new central bank president
Vittorio Corbo has been named the new president of the central bank of Chile, reports Reuters. The decision made by Chilean President Ricardo Lagos comes after Corbo's appointment to the Board of the central bank in early April.
Czech president slams central bank over deflation
An overly restrictive monetary policy has been blamed by the Czech President Vaclav Klaus for the deflationary trend seen in the past three months. Klaus also criticised inflation targeting saying it was only useful for discussions at economics…
Moskow says deflation unlikely but Fed stands by
The threat of inflation is low for the US economy, Reuters reports that Chicago Fed chief Michael Moskow said on Thursday April 24, but the Fed stands ready to react should it occur.
Swedish trade minister on ECB vote proposals
Sweden's trade minister has said the proposals for reform of the voting arrangements on the ECB's governing council will leave Sweden without a worthwhile role and the Swedish people as less than full participants, according to a report in the Swedish…
Bank of England condemns rise of red tape
In a report published on Thursday 24 April the Bank of England criticised proposed changes to the Consumer Credit Act saying it could lead to more complex regulation and limit competition, according to the Daily Telegraph.
Poland: Central bank cuts interest rates
Poland's central bank cut interest rates on Thursday 24 April by 25 points. The bank has come under sustained pressure from the Polish government which has complained of a too restrictive monetary policy, according to a report from the PAP news agency.
IMF calls for transparency on inflation
The IMF's chief economist Kenneth Rogoff questions the long-term inflation objectives of the Fed, ECB and Bank of Japan asking why they are so reluctant to speak about the subject in an article in the Financial Times. Would a bit more transparency hurt,…
Decision looming on Iraqi currency
The Iraqi currency has collapsed along with the government. In an article published by Associated Press, Professor Steve Hanke says the currency issue is an urgent one and should be a high priority for Jay Garner and his team of U.S. administrators in…
Federal Reserve Board - Beige Book, April 2003
The Federal Reserve Beige Book released on 23 April reported that the US economy remained becalmed during the war with Iraq, as geopolitical uncertainty and bad weather conspired to keep consumers at home.
RBNZ lowers interest rates 0.25% amid slowdown
The Reserve Bank of New Zealand reduced its OCR rate to 5.50 per cent on 24 April. Speaking after the decision Reserve Bank Governor Alan Bollard said "With the passage of time, we are now more confident that inflationary pressures will ease, which is…
Greenspan' reply to Bush re Fed appointment
Statement by Federal Reserve Chairman Alan Greenspan in response to the President's comments on his term in office, 23 April.
Boston Fed's Cathy Minehan on the economic outlook
In a speech to the Boston Economic Outlook Conference Cathy Minehan of the Federal Reserve Bank of Boston said while she expects that the national economy will regain momentum in the second half of the year and that investment, particularly in the…
BoJ drawing up plan to bolster capital adequacy
The Bank of Japan is planning to ask the Finance Ministry if it can increase the level of its capital reserves to offset the adverse impact from a growing amount of stocks and other riskier assets, according to the Asahi Shimbun.
Blair to rule out early referendum on euro
A report in the Financial Times says a deal has been reached between the UK chancellor Gordon Brown and the prime minister Tony Blair on the issue of a referendum on the euro.
Iraq central bank described as a 'burned out husk'
A short report from Associated Press included details of the current state of the Central Bank of Iraq. The report said all nine floors of the central bank have collapsed.
U.S. impressed with Brazil's anti-inflation stance
Brazil's central bank chief Henrique Meirelles met John Snow, the US treasury secretary, on Tuesday 22 April, according to Rreuters. Snow expressed support for Brazil's efforts at controlling inflation.