Monetary Policy
Fed's Guynn: Uncertainty a barrier to recovery
Atlanta Fed chief Jack Guynn said on Monday 24 that uncertainty over the war in Iraq, terrorism and oil prices would hinder recovery but that he expects a modest upturn in the economy later this year, according to a Dow Jones report.
Robert Gerard appointed to RBA board
Businessman and long-time Liberal Party supporter Robert Gerard has been appointed to the board of the Reserve Bank of Australia. according to a report in The Age The move drew immediate criticism from the Opposition. Gerard said his experiencing in…
CentralBankNet Monday Special Feature
SPECIAL FEATURE - Ernesto Savona, professor of law and criminology at the Catholic University of Sacro Cuore of Milan, recently gave an exclusive interview to The Financial Regulator journal. In the interview he said that a political decision to stamp…
BoJ calls ad hoc monetary policy meeting
The Bank of Japan has called an ad hoc monetary policy meeting for Tuesday, March 25, to review the prevailing severe economic and financial conditions including the effect of military action against Iraq and consider necessary steps with respect to…
William White on international financial crises
BIS economic adviser William White gave a speech at a conference in Berne on the prevention, management and resolution of international financial crises, concluding that the troubling degree of instability in the global financial system is such that…
Death of Governor of Central Bank of Iran
The governor of Iran's central bank, Mohsen Nourbakhsh, died of a heart attack in Tehran on Sunday 23 March, Irna, Iran's offical news agency, reported yesterday.
Russian Central Bank acts to hold ruble steady
The ruble held steady on Friday March 21 as the Central Bank of the Russian Federation stuck to its promise to minimise exchange rate volatility in a market nervous at the start of hostilities in the Gulf, according to a report in the Moscow Times.
IMF: monetary policy for vulnerable economies
The IMF has issued a working paper on 'Monetary Policy Rules for Financially Vulnerable Economies', noting, inter alia, that emerging market economies are not financially robust and are unable to smooth out large external shocks. The paper examines…
Swiss rates on hold
The Swiss National Bank kept its key interest rate unchanged and repeated that that it could intervene to stop an appreciation of the Swiss franc, according to a Dow Jones report.
Fukui calls emergency meeting
Toshihiko Fukui, the new governor at the Bank of Japan called an emergency meeting of the policy board for Tuesday morning, March 25, according to the Financial Times, fuelling expectations that the central bank intends to take further emergency measures.
New regulator means new focus for the PBOC
The creation of a new banking system regulator allows the People's Bank of China to concentrate on interest rate reform.
IMF reviews book on ME monetary policy
IMF review of 'Monetary Policy and Exchange Rate Regimes - Options for the Middle East', edited by Elina Cardoso and Ahmed Galal
Finance and economics of Papua New Guinea
In a speech at the 38th SEACEN Governor's Conference in Manila in February, the governor of the Bank of Papua New Guinea, L Wilson Kamit, CBE, offered his overview of financial and economic developments in the country.
ECB's Issing downbeat on 'sluggish' euro growth
Speaking to the EU Parliament, the ECB 's chief economist, Otmar Issing observed that economic growth in the eurozone is expected to be 2% for the year, thoough this will put downward pressure on inflation, according to Reuters
Bank of England Quarterly Bulletin, Spring 2003
REPORT - The Bank of England released its Quarterly Bulletin, Spring 2003, on 21 March. The Bulletin includes an article on "Monetary policy and the zero bound to nominal interest rates" which suggests that a deflation situation is highly unlikely to…
Bank of Canada - Annual Report 2002
ANNUAL REPORT - The Bank of Canada has published its Annual Report for the year ended 2002.
Bank of Canada confident inflation will edge down
The Bank of Canada published its annual report for 2002 on Thursday 20 March and struck a confident note on inflation. Within a year the rate is expected to fall back to around two percent, the report said. Governor Dodge reflected on the Canadian…
BoE: deflation spiral 'unlikely to hit Britain'
The Bank of England's quarterly bulletin published on Friday March 21 suggested that Britain was likely to avoid a deflationary cycle and that the zero bound for interest rates would not be tested, noted the Financial Times
US plans to seize Iraqi assets worldwide
Funds held worldwide by the Iraqi government will be seized and transferred to the New York Federal Reserve for holding, according to a BBC report. This includes money held under the names of the Central Bank of Iraq and the State Organization for…
Duisenberg to stay on at ECB?
Luxembourg's prime minister Jean-Claude Juncker said on his way to the EU Brussels summit starting on Friday night, March 21,that Wim Duisenberg could stay on, in his view, while uncertainty over his successor remains. Online reported him as saying that…
Bank of Canada appoints Desjardins to board
Jean-Guy Desjardins has been appointed to the board of directors of the Bank of Canada and will take up the position immediately, according to a report in the Toronto Star
ECB vote reform OK'd at EU summit
EU leaders agreed the proposal from the European Central Bank to reform the voting arrangements of its Governing Council, a spokesman for EU presidency holder Greece said on Friday.
Transatlantic rift not hurting central banks
Jean-Claude Trichet said on Thursday that the widening political rift between certain European countries and the US would not affect the transatlantic working relationship between central banks.
ECB ready to react to disturbances
The ECB reassured on Thursday that it was ready to react in the event of financial market disturbances after the start of military action against Iraq.