Monetary Policy
Ex-tea boy heads for top RBZ post?
ZIMBABWE - Gideon Gono, the chief executive officer of the Commercial Bank of Zimbabwe (CBZ), looks set to become the governor of the central Reserve Bank of Zimbabwe (RBZ) shortly, it was established this week - says Zimbabwe's Financial Gazette.
Yugoslav bank governor accuses Serbian PM
YUGOSLAVIA - Belgrade: "I consider the kind of statement made by [Serbian] Prime Minister [Zoran] Djindjic in respect of a change of the dinar exchange rate to be irresponsible and incompetent, Governor of the National Bank of Yugoslavia [NBJ] Mladjan…
Fed Chairman Alan Greenspan on education
SPEECH - In the speech 'Education' made on 29 October, Alan Greenspan of the Federal Reserve said empirical economic research has identified a complex set of factors as key determinants of how successful any country will be in transforming its physical…
Issing on relationship lending in the euro area
SPEECH - In the speech 'Relationship lending in the euro area' made on 24 October, Otmar Issing of the ECB said recent trends in the European financial markets seem to have put pressure on banks, leading some of them to reduce the scale of their…
Gjedrem on the business cycle and monetary policy
SPEECH - In the speech 'The business cycle and monetary policy' made on 17 October, Svein Gjedrem of Norges Bank said share prices fell sharply this summer for several reasons, including poorer growth prospects abroad. Developments this summer indicate…
10th Manila Framework Group meeting opens
ASIA - The 10th Finance and Central Bank Deputies' Meeting of the Manila Framework Group (MFG), chaired by Dato Paduka Hj Abdul Rahman Hj Ibrahim, Permanent Secretary at the Ministry of Finance, started Monday.
SBP describes economic growth rate as reasonable
PAKISTAN - The State Bank of Pakistan (SBP) has declared the 3.6 per cent growth of the economy as "reasonable" during fiscal 2001-02 due to various factors.
South Africa's Mboweni lashes out at the media
SOUTH AFRICA - Reserve Bank governor Tito Mboweni has once again expressed dissatisfaction with the manner the media reports his speeches. He even suggested that he had seriously considered stopping giving interviews and excluding wire services from his…
SARB Press Release
PRESS RELEASE - Governor clarifies reports - statement by the South African Reserve Bank, 23 October.
Yugoslav c banker expects 15% inflation this year
YUGOSLAVIA - Following the rise in petrol prices, the 2002 inflation will not exceed 15 per cent and will amount to about nine per cent in 2003, which is why Yugoslav National Bank (NBJ) will lower the obligatory bank reserves rate, Yugoslav National…
Norges Bank Press Release
PRESS RELEASE - Greater transparency in connection with interest rate decisions, 30 October.
Norges Bank Press Release
PRESS RELEASE - Norges Bank keeps interest rates unchanged, 30 October.
Norges Bank's Inflation Report 3/2002
REPORT - Norway's central bank published its third and final Inflation Report for 2002 on 30 October. The Inflation Report discusses developments in the Norwegian economy and other factors that influence the inflation outlook. Developments in the…
Bank of Japan Press Release
PRESS RELEASE - Change in the Guideline for Money Market Operations, 30 October.
UK Minister admits damage of not being in euro
UK - Staying out of the euro has hit foreign investment in Britain, Patricia Hewitt the trade and industry secretary admitted yesterday as she vowed that the government would move "speedily and decisively" to a referendum if the five economic tests were…
IMF wants euro 'big 3' to tighten fiscal policy
US - The International Monetary Fund has weighed into the debate over the eurozone's stability and growth pact (SGP), arguing that the big three countries - Germany, France and Italy - should heed its message and make a concerted effort to tighten fiscal…
Central bank cuts India growth forecast
INDIA - The Reserve Bank of India, the central bank, on Tuesday cut its forecast for economic growth by one percentage point to 5-5.5 per cent, citing the impact of a devastating drought and weak industrial activity.
Bank of Japan eases monetary policy further
JAPAN - The Bank of Japan on Wednesday unanimously decided to further ease its monetary policy for the first time in eight months, in a bid to complement the government's "anti-deflation" package, also released today.
Japan shies away from radical banking reform
JAPAN - The government of Junichiro Koizumi, Japan's prime minister, on Wednesday night backed away from imminent action to clean up the financial system after pressure to water down proposals from bankers and from the ruling Liberal Democratic party.
Trichet ordered to appear at trial in new year
FRANCE - The French trial for misleading accounting at the Credit Lyonnais Bank, at which Central Bank governor Mr Jean-Claude Trichet has been ordered to appear, has been scheduled for January 2003 in Paris.
Bank of Portugal - Annual Report 2001
ANNUAL REPORT - The Bank of Portugal has published its Annual Report for the year ended 2001.
Fed's Ferguson on productivity growth
SPEECH - In the speech 'Productivity Growth: A Realistic Assessment' made on 24 October, Roger Ferguson of the Federal Reserve said although no one can see the future, he feels cautiously optimistic that the U.S. economy can continue to enjoy strong…
Backstrom on the monetary policy situation
SPEECH - In the speech 'The monetary policy situation' made on 17 October, Urban Backstrom of the Sveriges Riksbank said activity in the Swedish economy has remained buoyant despite the situation in the rest of the world but recent statistics have…
Kennedy on the Bank of Canada in financial markets
SPEECH - In the speech 'The Bank of Canada's interest in financial markets' made on 28 October, Sheryl Kennedy said the Canadian economy has outperformed the other G7 countries over the past year but the economy is now operating fairly close to full…