Monetary Policy
China's central bank unveils interest rate policy
China's central bank has unveiled its market-oriented proposals on interest rate policies.
Hungarian central bank raises one-day rate
According to Zsigmond Jarai, chairman of the National Bank of Hungary, the storm of speculation against the forint [Hungarian currency] has ended. Most of the so-called hot money which has flown into the country has left the country.
Race to head European Central Bank heats up
Christian Noyer has apparently intimated he is willing to take on the job of president of the European Central Bank when Wim Duisenberg retires in July, says Forbes magazine.
Koizumi's timidity
ARTICLE - A Leader column in the Financial Times argues that Fukui's appointment shows "a lack of courage" from prime minister Junichiro Koizumi with Fukui having the "weakest punch" against falling prices.
Shiokawa to press new BOJ gov to relax mon policy
Finance Minister Masajuro Shiokawa is set to ask Bank of Japan (BOJ) Governor designate Toshihiko Fukui to further relax the central bank's monetary policy.
Edward George says ECB slow on rate cuts
Sir Edward George, governor of the Bank of England, speaking in London today hinted that the ECB had been slow to cut interest rates when he remarked that the ECB is "less proactive" in monetary policy terms than the UK's central bank. CentralBankNet was…
Brazil's interest rate increase wins IMF support
The IMF praised Brazil's central banks decision to increase interest rates saying that the move will help control inflation.
CentralBankNet Monday Special Feature
SPECIAL FEATURE - Worrying about asset price cycles is a popular pastime. Not surprising, when UK, French and German stock market indices are struggling to maintain half their peak levels. We won't even talk about Japan. But what, if anything, can be…
Sveriges Riksbank Press Release
PRESS RELEASE - Heikensten: Inflation rise expected to be temporary. Riksbank Governor Lars Heikensten spoke at a meeting organised by Hammarby bandy club on the subject of "Some monetary policy issues" on 20 February.
Bernanke on balance sheets and the recovery
SPEECH - In the speech 'Balance Sheets and the Recovery' Ben Bernanke of the Federal Reserve assessed whether there exist financial constraints that might impede the developing recovery in the U.S. economy. His sense, he said, is that the household and…
Bulgaria's central bank deputy governor resigns
Deputy governor Martin Zaimov has resigned from Bulgaria's central bank. The move was described as a surprise as Zaimov had been tipped by many to take over from the governor, who leaves the Bank this summer.
Japan warns on deflation at G7 meeting in Paris
With Japan continuing to suffer the effects of deflation, finance minister Shiokawa has warned that increased threats of war may make the prospect of deflation more serious for the world.
Duisenberg: ECB may cut rates further
Speaking at the weekend Wim Duisenberg suggested the ECB could cut interest rates further and said a weakened outlook for the euro zone economy could reduce inflationary pressures.
Report says Kanu MP's want CBK boss sacked
Apparently Kenyan MP's are calling for the removal of the central bank governor Nahashon Nyagah over his involvement in a bank collapse.
BofE Nickell: Financial market weakness to persist
In an interview Stephen Nickell of the Bank of England's Monetary Policy Committee said that the Bank's recent interest rate reduction was unlikely to trigger another round of rapid house price increases in the UK. Professor Nickell has regularly voted…
EU banking sector stability report
REPORT - The European Central Bank (ECB) released on 24 February a report on the stability of the EU banking sector. The report was prepared by the Banking Supervision Committee of the European System of Central Banks, which comprises representatives…
Sveriges Riksbank Press Release
PRESS RELEASE - Agreement between the Riksbank and Finansinspektionen on the division of labour with regard to financial stability, 24 February.
Economic Perspectives, First Quarter 2003
REPORT - The Federal Reserve Bank of Chicago has published its regular quarterly journal of in-depth articles reporting on the Bank's economic research for the Fourth Quarter 2002. This edition includes an article 'Inflation and monetary policy in the…
Fukui appointed BoJ governor
Toshihiko Fukui was today nominated to replace Masaru Hayami as governor of the Bank of Japan. Prime Minister Koizumi's decision to appoint a conservative figure like Fukui has already been criticised for showing a lack of commitment to tackle deflation.
Philadelphia Fed Business Outlook Survey, Feb 2003
REPORT - Activity in the region's manufacturing sector was mostly flat, according to firms surveyed for February's Business Outlook Survey. Although one-third of firms reported higher new orders in February, one-fifth reported lower orders, and other…
Sveriges Riksbank Press Release
PRESS RELEASE - Sweden in the European economy, 19 February. Deputy Governor of the Riksbank Lars Nyberg today spoke at Commerzbank Securities' capital market conference about Sweden's role in the European economy and the Riksbank's role in the EMU…
Minutes from the Sveriges Riksbank Board meeting
MINUTES - Minutes of the Sveriges Riksbank Executive Board meeting on 6 February, published 20 February. The Board voted unanimously to leave the repo rate unchanged at 3.75%. The Board concluded that economic developments continue to be marked by the…
Gjedrem on economic perspectives
SPEECH - In the speech 'Economic perspectives' Svein Gjedrem of Norges Bank said in response to heightened uncertainty and fears of war, traditional safe havens for capital, such as the Swiss franc and gold, have become increasingly attractive. Gold…
Report says Israel's Sharon to oust central banker
An Israeli press report on Friday cast further doubt on David Klein's chances of remaining as governor of the Bank of Israel. The report says Israel's prime minister is likely to ask the governor to withdraw from his position in the next few days.