Monetary Policy
Anthrax feared in Federal Reserve letter
A facility that handles government mail is undergoing precautionary testing for anthrax after a test on mail at the Federal Reserve indicated the potential presence of the deadly anthrax bacteria.
Bank blamed as forint hits upper limit vs euro
Hungary's central bank was under fire Tuesday for its high interest rate policy after the national currency, the forint, rose to the upper limit of its trading band against the euro.
Volcker airs concerns about volatility of ex rates
Former Federal Reserve Chairman Paul Volcker voiced concern Monday that too little attention is paid to the volatility of exchange rates. He also said the US economy had left itself exposed as to whether a future correction of the current account deficit…
Speech by Professor Otmar Issing of the ECB
SPEECH - Topic of the Year, Mitglied des Direktoriums der Europaischen Zentralbank. Closing address at the "Topic of the Year" organised by the Group of 20 + 1 in Frankfurt, by Professor Otmar Issing, Frankfurt am Main, 13 January 2003. Text only…
Bies on North American monetary policy
SPEECH - In the speech Susan Bies of the Federal Reserve said instruments of monetary policy have changed in significant ways. In the US and some other countries, money and credit aggregates have played an especially important role as monetary policy…
Ferguson on financial engineering and stability
SPEECH - In the speech 'Financial Engineering and Financial Stability' Roger Ferguson of the Federal Reserve said discusses dynamic hedging of mortgages, risk measurement systems such as value-at-risk, and credit derivatives all examples of newer risk…
Olson on banking opportunities in Indian country
SPEECH - In the speech 'Overcoming Challenges and Seizing Opportunities in Indian Country' Mark Olson of the Federal Reserve said the importance of seeking banking opportunities to foster economic development in Indian Country is underscored by the…
Sveriges Riksbank Press Release
PRESS RELEASE - Distribution of work in the Executive Board, 9 January.
Swiss revolt
ARTICLE - There is talk a Socialist (the first ever) might join the three-man team manning the Swiss National Bank, reported an article on Tuesday.
Outsiders may fill vacuum at top of Bank of Canada
The Bank of Canada, facing a top-level retirement and the departure of its cost-cutting number two, may have to look at outside nominees to bring its management team back up to strength, analysts said on Monday.
Fed's Guynn: Probability of deflation 'very low'
Federal Reserve Bank of Atlanta President Jack Guynn said Monday the U.S. faces little chances of falling into the same deflationary trap that has ensnared Japan. His comments are broadly in line with many central bankers who have spoken in recent months…
Takenaka upbeat on Japan growth after Bank reform
Japan's economy and banking minister said Tuesday the economy could eventually return to growth as high as 2.5% after a slow-growth period of painful reform. Heizo Takenaka spoke at the Australian National University and maintained pressure on the Bank…
New face to front foreign exchange policy in Japan
Zembei Mizoguchi became Japan's new voice on foreign exchange policy Tuesday, taking on the tough task of deciding when and by how much to intervene in the market to halt a rapid rise in the yen, analysts said. Speculation also mounted that Haruhiko…
Afghan currency strengthening - bank official
The governor of the Afghan central bank has said that following the redenomination, the value of the new Afghan currency against the dollar increased.
Argentina agrees IMF plan
Argentina has taken a crucial step towards securing further loans for its troubled economy by accepting an outline proposal from the International Monetary Fund (IMF).
Former Turkmen central banker gets 'life' - report
A report on Monday said that the former president of Turkmenistan's central bank Hudayberdi Orazov, who headed the central bank for six years from 1993 to 1999, has been given a life jail sentence (in his absence) for his involvement in the recent…
Philadelphia Fed Business Review, 4th Quarter 2002
REPORT - The Federal Reserve Bank of Philadelphia has published its regular Business Review for the Fourth Quarter 2002. The current issue contains articles including, Forces shaping Philadelphia's future and A lifeline for the weakest link? Financial…
EconSouth from the Atlanta Fed Fourth Quarter 2002
PUBLICATION - The Federal Reserve Bank of Atlanta has published its regular online magazine, EconSouth, for the Fourth Quarter 2002. The main feature of the latest edition is 'Fiscal Policy: What a Difference A Recession Makes'.
Economic Insights from the Dallas Fed Bank
PUBLICATION - In its regular Economic Insights publication, Volume 7 Number 3 2002, the Federal Reserve Bank of Dallas looks at the "Origins of the Chicago School of Economics" under Frank Knight. In the introduction Bob McTeer says "Frank Knight is one…
The Regional Economist, January 2003
PUBLICATION - The Quarterly Review of Business and Economic Conditions, The Regional Economist, January edition from the St Louis Fed contains an article 'One Rate but Different Results'. The target set by the FOMC for the federal funds rate applies to…
BIS meeting - Central bankers wary of Iraq war
Central banks need to watch the situation in Iraq closely and be prepared to act to stop any war damaging a modest world economic pickup in 2003, Bank of England Governor Sir Edward George said on Monday at a regular BIS meeting in Switzerland.
Former Turkmen central bank chiefs trial starts
Thirty-two members of a conspiracy to assassinate Turkmen President Saparmurat Niyazov and overthrow the government will face trial this week. Hudaiberdy Orazov, former head of the central bank of Turkmenistan is one of those charged.
Gretta Duisenberg apologises for 'Nazi' remarks
Gretta Duisenberg has apologised for saying last week that the Israeli occupation of Palestinian territories was worse than the Nazi occupation of the Netherlands - with the exception of the Holocaust.
BIS Press Release
PRESS RELEASE - Following a proposal by Nout Wellink, Chairman of the Board of Directors and President of the Bank for International Settlements (BIS), the Board of Directors on 13 January appointed Malcolm D Knight as the Bank's new General Manager.