Monetary Policy
A funny way to manage Europe's money
ARTICLE - This article looks at the potential for enlargement of the eurozone and its impact on the ECB's governing council. The author sees problems ahead saying that today's 18 member council is already too large and proposals for rotational voting…
Sveriges Riksbank Press Release
PRESS RELEASE - Comments on article on DN's debate page, 23 January.
Bursary scheme for research work in Malta
The Central Bank of Malta has recently launched a Bursary Scheme to enable local and foreign postgraduate students or holders of a postgraduate degree to obtain research work experience at the Bank through research projects on areas of interest to the…
Japan's Koizumi: Economic reforms need more time
Japanese Prime Minister Junichiro Koizumi insisted Friday there would be no financial crisis in the world's second-largest economy, promising tax cuts and pleading for time for reforms to work. He also said his Cabinet and the central bank were working…
December FOMC saw monetary policy well positioned
Federal Reserve policymakers believed they had already laid a foundation for a pickup in U.S. economic growth when they decided in December to hold interest rates steady, FOMC minutes released on Thursday showed.
Venezuela central bank - for ex controls necessary
Domingo Maza Zavala, the director of the Central Bank of Venezuela, has said that a foreign exchange control system is "not desirable", but it is necessary. He added that he thinks measures should have been taken a lot earlier, when the strike in the oil…
IMF disclaims West Africa single currency report
The on-going debate on the workability of a single currency for the West African sub-region, took another turn on Thursday as the International Monetary Fund (IMF) appeared to disclaim a report submitted by its researchers opposing Nigerian participation…
ECB goes shopping
European Central Bank's extensive shopping list for 2003 is now available on the European Union's public procurement website. The site reveals that the ECB is planning major investments in IT infrastructure to create new disaster backup sites and expand…
Currency Crises and Macroeconomic Performance
RESEARCH - In the Reserve Bank of Australia Research Paper, 'Currency Crises and Macroeconomic Performance' the authors present some theory and evidence on the implications of sudden currency depreciations for output and inflation. The paper identifies…
Bean on economists and the real world
SPEECH - In the speech 'Economists and the Real World' Charles Bean of the Bank of England said it is often said that central bank independence is desirable because it takes the politics out of monetary policy. He also said an important feature of the…
Federal Reserve Press Release
PRESS RELEASE - The Federal Open Market Committee decided today to keep its target for the federal funds rate unchanged at 1-1/4 percent, 30 January.
Who'll take over Poland's Monetary Policy Council?
ARTICLE - An interesting article 'New RPP in 2004: Who is Going to Replace the Hawks?' speculates on who may take over on the National Bank of Poland's Monetary Policy Council when the present members term finishes in 2004.
France warned over stability pact violation
France's intention to effectively ignore the EU's stability and growth pact brought warnings on Wednesday to stop challenging the rules underpinning the euro, or risk causing long-term harm to the credibility of the single currency.
Ukraine not to join Russian rouble zone - c banker
Ukraine is neither going to join the rouble zone nor has it received any relevant proposal from Russia, the chairman of the National Bank of Ukraine, Serhiy Tyhypko, has said.
Mexico keeps its inflation target at 3 per cent
The Bank of Mexico on Wednesday played down the prospects of direct intervention in the foreign exchange markets to support the peso, as it unveiled a monetary policy for this year that maintains its target of 3 per cent inflation for the year.
Roger Ferguson joins CGFS as chairman
The Bank for International Settlements, owned by the world's leading central banks, has appointed Roger Ferguson as chairman of its committee on the global financial system. The CGFS is a central bank forum for monitoring and examining issues relating to…
Trichet casts loans blame on ex-minister at trial
French central bank governor Jean-Claude Trichet claimed on Wednesday that former finance minister Pierre Beregovoy ignored a series of warnings over risky loans which almost brought down the then state-owned Credit Lyonnais bank in the early 1990s.
Mizoguchi says Japan shares Fed view on US economy
Japan's top financial diplomat, Zembei Mizoguchi, said on Thursday that Japan shares the Federal Reserve's view on the U.S. economy, but said he had no comment on short-term moves in the forex market.
Treasury's Fisher declines comment on Fed job
Senior U.S. Treasury official Peter Fisher on Wednesday declined to comment when asked about reports he is a leading candidate to head the New York Federal Reserve Bank after the retirement of William McDonough in July.
Bank of England's model comes in for criticism
Research has cast doubt on the accuracy of forecasting models used by the Bank of England. It suggests the models forecast for inflation two years ahead was on average 0.5 percentage points too high.
Hong Kong Monetary Authority Press Release
PRESS RELEASE - Mr Joseph Yam, Chief Executive of the Hong Kong Monetary Authority, met with Mr Zhou Xiaochuan, the newly appointed Governor of the People's Bank of China, in Beijing today, 29 January.
ECB Press Release
PRESS RELEASE - Measures to improve the efficiency of the operational framework for monetary policy, 23 January.
CGFS publication: Credit risk transfer
REPORT - Report submitted by a Working Group established by the Committee on the Global Financial System, credit risk transfer, January 2003.
Does the Beige Book move financial markets?
RESEARCH - In the Atlanta Fed Working Paper 'Does the Beige Book Move Financial Markets?' the authors examine whether the descriptive content of the Beige Book affects asset prices. Their results indicate that more positive Beige Book reports on economic…