Monetary Policy
Minutes of Japan's Monetary Policy Meeting
Minutes of the Bank of Japan's Monetary Policy Meeting on 4 and 5 March 2003 were released on 11 April. A member of the Policy Board said that the central bank could adopt operations that influenced asset prices as a way of boosting the economy.
RBA's Glenn Stevens on inflation targeting
In a speech on 'Inflation Targeting: A Decade of Australian Experience' Glenn Stevens of the Reserve Bank of Australia said inflation targeting has been a successful model for monetary policy in Australia. It has been associated with lower, less variable…
Central Bank of Iraq - Looters try vault break in
British television on Thursday April 10 broadcast a report from inside the Central Bank of Iraq. A reporter was shown walking amongst upturned desks and debris with papers scattered everywhere and no sign of any staff.
IMF World Economic Outlook, April 2003
The International Monetary Fund has published its twice yearly World Economic Outlook report for April 2003. In the report the IMF said the global economic recovery will remain slow and uncertain even after the war with Iraq, and will be dangerously…
Slovak central bank favours quick EMU entry
The National Bank of Slovakia will push for the country's earliest possible entry into EMU, according to a report by TASR. Speaking at a conference on Wednesday the Bank's vice-governor said the central bank was cooperating with the finance ministry on…
Fed's Poole: Central bank can be patient
St Louis Fed chief William Poole was reported by Reuters to hacve said hat even though the Federal Reserve is under some pressure to make further cuts in interest rates, markets will automatically compensate by discounting longer term rates taking some…
Ukraine's central banker eyes presidency
The Ukrainian newspaper Ukrayina Moloda, reported on Thursday 10 April that central bank president Serhiy Tyhypko, who has not held the job for more than six months, may be in line for a role in the 2004 presidential campaign - as a candidate.
Travelex loses court battle over euro symbol
Following the court action by British bureau de change Travelex, a verdict was reached on Thursday 10 April, according to Business & Finance. Travelex claimed that they owned the "€" euro symbol, had used it since 1989 and that the ECB's use of it…
Iran president to form 'coordinated' economic team
Iran's parliament praised the successes of the late central bank governor, Mohsen Nurbaksh and pledged to find a successor as soon as possible, the IRNA news agency reports. A government spokesman said that the President intends to form a coordinated…
Mexico c bank keeps monetary policy unchanged
The Banco de Mexico maintained its current monetary policy stance at its meeting on Friday April 11, Reuters reports. The annual inflation rate at the end of March was 5.64 percent, exceeding the central bank's goal of 3.0 percent.
Heikensten on monetary policy and potential growth
In a speech on 'Monetary policy and potential growth' Lars Heikensten of the Sveriges Riksbank said a high long-term growth rate is one of the most important objectives of economic policy. The Riksbank has earlier spoken of a potential growth rate in the…
IMF: No devaluation, Eastern Caribbean CU sound
The Eastern Caribbean Currency Union was endorsed by a recent IMF meeting, the Antigua Sun reports. The Fund said that there was no need for the long standing dollar peg value to change, for now. But fiscal deficits must be reduced to prevent pressure…
Kazakh National Bank chief may resign over rouble
A report from the Interfax-Kazakhstan news agency claims that Grigoriy Marchenko, chairman of the National Bank of Kazakhstan is ready to resign if the Russian rouble is adopted as the single currency of Belarus, Kazakhstan, Russia and the Ukraine.
ECB would benefit from fresh, intellectual honesty
A letter in the Financial Times supporting Paul de Grauwe's candidacy to replace Sirkka Hamalainen as a board member of the European Central Bank said "an intellectually honest academic with a strong sense of social duty" may be just what Frankfurt needs…
Greenspan on the Reagan legacy
In a speech on 'The Reagan Legacy' Alan Greenspan of the Federal Reserve said Ronald Reagan saw inflation as a danger, and as President, afforded my predecessor Paul Volcker the political support that is so essential to a central bank when its pursuit of…
Dinkic and Zivkovic hold 'constructive' talks
Serbia's national bank governor, Mladjan Dinkic, held what were described as constructive talks with the premier on Wednesday 9 April, according to a report by Beta News. . The finance minister also through his support behind Dinkic after the recent…
ECB says 2003 growth rate hard to predict
The European Central Bank published its April 2003 Monthly Bulletin on 10 April. In the report the ECB said while a modest rate of growth should be expected this year, "the specific evolution of economic growth for the rest of this year is particularly…
Bank of England holds interest rates steady
As most analysts predicted, the Bank of England held interest rates steady at 3.75 on Thursday 10 April amid continuing uncertainty, reports the Financial Times.
Outlook clouded but inflation to ease: ECB
Even though the war in Iraq has increased uncertainty somewhat the European Central Bank said on Thursday in its monthly bulletin that it expected inflation to drop back below its 2 percent target this year, according to Reuters.
ECB should tolerate higher inflation - IMF report
The IMF's semi-annual World Economic Outlook report released on Wednesday 9 April urged the ECB to loosen its inflation target slightly to help stave off the threat of deflation for weaker eurozone economies such as Germany, according to Reuters.
Inside the Central Bank of Iraq
A website ArchNet, intended for architects interested in the Islamic world, contains photographs of the Central Bank of Iraq. The site says "The bank is housed in a cubical building with few exterior openings, and is organised around an inner courtyard…
Court to rule on euro symbol ownership
A court was due to rule on Thursday April 10 whether the ECB owns the "€" symbol representing the euro, reports Business & Finance. British company Travelex claimed the use of the logo was a blatant rip off of its own logo, which it has used since 1989.
Ferguson on patent policy in a broader context
In a speech on 'Patent Policy in a Broader Context' Roger Ferguson of the Federal Reserve said the U.S. patent process needs to protect intellectual property without stifling innovation, a balancing act that challenges those involved with patent policy.
Ex-BoJ Nakagawa interview: BOJ wary of risky asset
In a recent interview published by Dow Jones Newswires, former Bank of Japan executive director Yukitsugu Nakagawa said that the BoJ wants to buy foreign bonds as part of its efforts to rid the country of deflation. But this move would be opposed by the…