Monetary Policy
Bank of England Press Release
PRESS RELEASE - The Chancellor of the Exchequer announced today, 27 February, that Rachel Lomax, Permanent Secretary at the Department for Transport, will become the Bank of England's Deputy Governor for Monetary Policy. She will succeed Mervyn King, who…
New York Fed on Current Issues
RESEARCH - The February 2003 edition of the New York Fed's 'Current Issues in Economics and Finance' contains an article titled 'New York City's Economy before and after September 11'. An analysis of employment and income trends suggests that the…
Crow makes the case for higher interest rates
John Crow, the former Bank of Canada chief, suggested that interest rates could increase further as the Canadian inflation rate is close to the upper limit of its target.
IMF says expects rate hike in Canada
The IMF has said Canada may have to increase interest rates as the country is operating close to capacity and inflation presents an increasing danger.
Trichet offers UK support on euro entry
Bank of France governor Jean-Claude Trichet has said he would welcome Britain's participation in the euro single currency at the earliest opportunity.
Greenspan on Aging global population
SPEECH - At a time when demographic factors are strongly affecting economic policy in many countries, Alan Greenspan yesterday told the Senate's Special Committee on Aging that at some point policy-makers will have to face up the fact that as the baby…
Poland sets new inflation target
The Polish central bank has reduced interest rates and at the same time set a new inflation target. The move is aimed at guaranteeing Poland joins the euro zone at the earliest possible date of 2007.
Lomax named first woman deputy governor at B of E
Rachel Lomax was named the new deputy governor of the Bank of England for monetary policy on Thursday in a reshuffle of the MPC which also sees Richard Lambert joining the committee. The moves may be seen as a further shift towards hawkish leanings on…
B of E's King comes out on the attack
FEATURE - Bank of England governor in waiting Mervyn King showed what was described as a "flash of steel" by Observer in the Financial Times when facing questions at Tuesday's parliamentary Treasury select committee meeting in London.
Fukui's appointment designed to bring peace
ARTICLE - This article suggests peace between the central bank and the Finance Ministry appears to be the motive behind the government's choice of new leadership at the Bank of Japan.
Slovak central bank sees 2008 euro date possible
Slovakia's central bank has said that 2008 is a realistic date for the country to introduce the euro.
ECB reassures Germany over crisis fears
The European Central Bank on Tuesday sought to allay fears of a banking crisis in Germany amid reports that the government and senior bankers had discussed emergency measures to bail out the financial system.
Now not the time for fiscal or monetary austerity
LETTER - An article by the Bundesbank's Jurgen Stark gets some criticism from a chief economist who says this is not the time for fiscal or monetary austerity. In a letter to the FT professors Olivier Blanchard and Francesco Giavazzi say that failure to…
Fed's McDonough praises Brazil's new government
Brazil's new economic plan received support from William McDonough on Tuesday at a Latin American forum. New York Fed chief also praised Brazil's central bank head Henrique Meirelles.
Trichet to meet union reps on 28 Feb
Jean-Claude Trichet, the governor of the Bank of France, will hold talks with union representatives on February 28 to discuss the findings of a study carried out by Yves Barroux, general secretary of the bank, on its retail network. The bank's employees…
Greenspan testimony on deposit insurance
SPEECH - In testimony titled 'Deposit insurance' Alan Greenspan of the Federal Reserve reiterated the central bank's opposition to raising the $100,000 limit on deposit insurance coverage, saying there would be no "clear public benefit" to the move.
Incoming B of E chief King prepared to lose vote
Mervyn King a noted hawk on the Bank of England's Monetary Policy Committee has said he is prepared to vote against the majority if necessary when he takes up his post as governor in the summer.
McCreevy set to support Austrian ECB candidate
Ireland is likely to support Austrian central bank deputy governor Gertrude Tumpel-Gugerell's candidacy for a place on the ECB board, reports the Irish Times.
Bank of Canada Press Release
PRESS RELEASE - Bank of Canada Announces First Research Fellowship Awards, 26 February.
Hayami - Towards a sustainable growth path
SPEECH - In the speech 'Towards a Sustainable Growth Path' Masaru Hayami of the Bank of Japan said that during his five years at the BOJ the Bank been exploring what a central bank can and cannot do in order to get Japan's economy back on track. He said…
Survey of Professional Forecasters
SURVEY - The Federal Reserve Bank of Philadelphia has published its Survey of Professional Forecasters for the First Quarter 2003. The economy will grow slowly over the first half of the year, according to 37 forecasters surveyed. However, the…
Santomero on corporate governance & responsibility
SPEECH - In the speech 'Corporate Governance & Responsibility' Anthony Santomero of the Federal Reserve Bank of Philadelphia said good corporate governance is critical to the health of the corporate system, our financial system, and our economy. The US…
Basel Committee Publications - Operational risk
REPORT - This paper, "Sound practices for the management and supervision of operational risk" prepared by the Risk Management Group of the Basel Committee on Banking Supervision, outlines a set of principles that provide a framework for the effective…
Hong Kong Monetary Authority Press Release
PRESS RELEASE - IMF Mission forecasts a faster growth rate for Hong Kong in 2003.