Monetary Policy
The Regional Economist, April 2003
The Quarterly Review of Business and Economic Conditions, The Regional Economist, April 2003 edition from the St Louis Fed includes an article 'Is Confidence High?' Economic forecasters rely on monthly consumer confidence surveys to help them determine…
Estonian c bank says gov't should balance budget
A report on Estonian Radio said that the president of the Baltic nation's central bank, Vahur Kraft, has told the ruling coalition that the budget must be balanced or investor trust will be lost.
Slovak c bank's first quarter loss near prediction
The National Bank of Slovakia reported on Monday that it made a loss for the first quarter of 2003, acording to a report from TASR. The loss was mainly due to fluctuations in the koruna currency's rate.
Bank of Russia changes exchange rate mechanism
Russia's central bank has changed the procedure by which it establishes the rouble exchange rate with the dollar. Pravda reports that the bank will now use the average-weighted rate of the US dollar at the Unified Trading Session (UTS) of the inter-bank…
LDP's Yamasaki says expects more steps from BOJ
A senior Japanese politician said on Wednesday 16 April he had confidence that the Bank of Japan would adopt new measures to boost Japan's ailing economy, Reuters reports.
Chilean Senate approves new Central Bank director
Chile's senate has approved the appointment of Vittorio Corbo to the board of directors of the Central Bank of Chile, according to a Reuters report. President Ricardo Lagos is widely expected to name him as the new central bank chief shortly.
Venezuela central bank cuts rate to 36 pct
Venezuela's central bank cut interest rates to 36 percent as tight currency controls and price curbs to shore up international reserves continue.
Citigroup's Fischer mum on New York Fed post
After speculation that former IMF official and Citigroup Vice Chairman Stanley Fischer may be set to take over at the New York Fed, Monday brought silence from Fischer, Reuters reported.
UK Treasury suggest positive Bank inflation report
The Treasury appeared to suggest on Monday that the Bank of England's inflation report, due early next month, could narrow the gap between the Treasury's inflation forecast and the Bank's, the FT reported.
Central Bank of Barbados starts 2 day conference
The central bank of Barbados is holding a conference on corporate governance in the financial sector, the Jamaica Observer reported. The Bank said the conference was prompted by the "recent international corporate upheavals".
Santomero on the economy in transition
In the speech 'The Economy in Transition' Anthony Santomero of the Federal Reserve Bank of Philadelphia said that it was too soon to say the U.S. economy was back on track, but suggested an outlook for growth of 3 to 4 percent for the US economy by the…
Canada's Dodge - Focusing on the long term
In the speech 'Focusing on the Long Term' David Dodge of the Bank of Canada said it is tough to maintain a clear view of the current economic picture. But spending our energy focusing on the near term risks losing sight of what's farther out. In an…
Brazil central bank head unfazed by currency gains
Henrique Meirelles, head of the Banco Do Brasil, has said the recent rise in the reals value would not hurt trade and that it was only a short time ago that people were worried about a collapse in the exchange rate, Reuters reported.
Bank of Canada raises interest rates
Bank of Canada raises overnight rate target by 1/4 percentage pointto 3 1/4 per cent, 15 April.
Polish central bank complains about gov't pressure
A report from PAP news agency quotes Poland's central bank chief as describing government pressure to cut interest rates as 'unprecedented'.
CentralBankNet Monday Special Feature
SPECIAL FEATURE - Georgia, a small low-income economy dependent on exports to Turkey and Russia, burdened with the legacy of ethnic conflicts, high external debts and low economic literacy, has nevertheless made striking progress in one important…
Fed's Poole on labour market and economic growth
In a speech on 'The Labor Market and Economic Growth' William Poole of the Federal Reserve Bank of St. Louis said although job creation in the current economic recovery has been nil, he is optimistic about the prospects for future growth of the US…
Ireland's Hurley - A central banker's perspective
In a speech on 'A central banker's perspective of the Irish and international economic situation' John Hurley of the Central Bank of Ireland said the world economy is currently labouring, particularly in regard to asset markets and the geopolitical…
Bank of Japan Monthly Report, April 2003
The Bank of Japan published its Monthly Report of Recent Economic and Financial Developments, April 2003, on 10 April. In the report the BOJ acknowledged that economic activity remained flat. But it was more upbeat about business investment and said…
Gordon Brown on current challenges to the IMF
Statement by Rt Hon Gordon Brown, United Kingdom International Monetary and Financial Committee, Washington D.C., 12 April 2003.
Banking reform in Singapore
Singapore's deputy prime minister and finance minister Lee Hsien Loong talked about banking sector reform, capital raising and foreign competition in an interview with The Banker magazine published 10 April.
Stanley Fischer favourite to head NY Fed?
Sources close to the Fed say former IMF official Stanley Fischer could be favourite to replace William McDonough at the Federal Reserve Bank of New York, according to a Reuters report.
Canada's Dodge urges G7 to boost economies
David Dodge of the Bank of Canada said rich countries should work to boost their economies to prevent further set backs for the world. The National Post reported his statement at the Washington meeting of the Group of Seven finance ministers and central…
Indian gov't considering fourth RBI dep governor
A fourth deputy governor's position could be created at the Reserve Bank of India. According to Business Standard, a senior finance ministry official said the position would carry the responsibility of regulating co-operative banks.