Monetary Policy
Rebuilding Transmission System for Monetary Policy
RESEARCH - The trouble with Alan Greenspan's handling of the economy, the Financial Markets Center suggests, goes much deeper than an ill-timed interest-rate adjustment or inaccurate staff forecast. It's embedded in the Fed's increasingly antiquated…
ECB may be ready to cut rates - Lucas Papademos
European Central Bank Vice-President Lucas Papademos on Wednesday gave the latest sign the bank was ready to reduce interest rates, saying the improved inflation outlook gave more room for a rate cut. The ECB Governing Council is due to meet on 5…
Rand near year highs ahead of rate news
South Africa's rand hovered near 13-month highs against the dollar as investors waited for the outcome of the central bank's quarterly monetary policy meeting.
Russian premier wants relaxed currency regulation
At Thursdays meeting of the cabinet, Russian Prime Minister Mikhail Kasyanov stressed the need to liberalise currency regulation in the country. As we reported Wednesday, the proposal has divided politicians and the central bank with the latter calling…
Ukrainian central bank chief under pressure to go
Rumblings at Ukraine's national bank continue as the chairman, speaking on Thursday, said he had not been asked to resign and parliament had refused presidential requests to dismiss him.
US economy grew slowly in October, November
The U.S. economy remained sluggish in late October and early November, with districts cautiously optimistic about the outlook, the Federal Reserve revealed Wednesday in its regular Beige Book.
Egypt central bank sets new monetary policy plan
Egypt's central bank governor has announced details of instruments that would be introduced under a new monetary policy which would encourage greater transparency in the market. Earlier in October we reported that Egyptian President Hosni Mubarak was set…
Battellino on Australian bonds issued offshore
SPEECH - In the speech 'Why do so Many Australian Borrowers Issue Bonds Offshore?' Ric Battellino of the RBA said motives included the greater range of investors overseas and differences in the state of development between the Australian and US corporate…
Hamalainen on The euro - a world currency
SPEECH - In the speech 'The euro - a world currency' Sirkka Hamalainen of the ECB said that although price stability is necessary for a healthy economy and a competitive currency, on its own it is not sufficient. She said all the Member States that have…
Jenkins on dealing with economic shocks
SPEECH - In the speech 'How the Bank of Canada Helps Canadians Deal with Economic Shocks' Paul Jenkins reviews the ways in which the Bank of Canada protects the domestic value of the Canadian currency through the conduct of monetary policy. He then…
Stelmakh says politics behind upcoming dismissal
INTERVIEW - In an interview the beleaguered Ukrainian national bank chairman Volodymyr Stelmakh says his expected dismissal is all down to politics and puts the blame firmly with former Prime Minister Anatoliy Kinakh.
Kazakh national bank to pay 50 per cent less tax
The profits tax paid to the state budget by the Kazakh National Bank will be 50 per cent down in 2002 on the 2001 figure, it was reported on 25 November, quoting the bank's chairman, Grigoriy Marchenko.
Bank of England Press Release
PRESS RELEASE - Following the announcement that Mr Mervyn King will replace Sir Edward George as Governor of the Bank of England when he retires at the end of June 2003, Sir Edward welcomed the appointment on Wednesday.
Biography - Mervyn Allister King
Mervyn King is the Deputy Governor of the Bank of England responsible for monetary policy, and a member of the Monetary Policy Committee.
Mervyn King named next governor of Bank of England
The announcement was made on Wednesday that Sir Edward George will be replaced by the current deputy governor for monetary policy, Mervyn King when Sir Edward steps down in June 2003.
ECB worried inflation hasn't slowed with economy
The European Central Bank is concerned that inflation in the euro zone hasn't slowed as much as growth has this year, Chief Economist and Executive Board member Otmar Issing said in a newspaper interview.
BOJ to consider all possible easing measures
Bank of Japan board member Hidehiko Haru said Wednesday the central bank would consider all possible easing measures, including unorthodox steps, if economic and financial conditions warrant such a move. The Bank is under great pressure to get the…
Polish central bank cuts interest rates
Poland's central bank decided Wednesday to lower key interest rates, its eighth cut this year in response to record low inflation and the country's sluggish economy. Last month the central bank cut rates and said at the time that the rate cutting cycle…
Law on Yugoslav National Bank dismissed
Yugoslav Parliament Chamber of Citizens on Wednesday dismissed the Yugoslav National Bank Bill which regulates the issue of prices, monetary policy and bank control.
ECB Press Release
PRESS RELEASE - European Central Bank launches international architectural competition, 26 November.
ECB to study lending policies with survey
The European Central Bank will begin conducting a quarterly survey next year of credit policies practised by banks operating in the 12-nation euro zone. The move comes just days after the Irish central bank warned lenders to stick within guidelines.
Poland sees risk of delaying EMU entry
A member of the Monetary Policy Council (RPP) of the central bank, Boguslaw Grabowski, sees a risk of delay in Poland's accession to the euro zone because of possible problems in reducing the budget deficit.
Santomero on Crises, Contagion, and Coordination
SPEECH - In the speech 'Crises, Contagion, and Coordination: Issues for Policymakers in the Global Economy' Anthony Santomero of the Federal Reserve Bank of Philadelphia said recent history provides many examples of events which have important economic…
Solans on the performance of the ECB
SPEECH - In the speech 'Some thoughts on the performance of the ECB' Eugenio Domingo Solans of the ECB said the ECB is almost five years old. But in that five years the Eurosystem has become a fully-fledged central bank which formulates and implements a…