Monetary Policy
South African fake central bank web site shut down
SOUTH AFRICA - A Nigerian syndicate has set up an elaborate fake South African Reserve Bank web site to pull off a so-called "419" advance-fee scam in which victims are promised millions in return for their assistance in moving vast amounts of money out…
Iran's c bank governor says economic growth steady
IRAN - The governor of the Central Bank of Iran has said the country's economy enjoys a steady growth and that the positive trend will continue.
Minutes of the Federal Open Market Committee
MINUTES - The Federal Reserve on Thursday released the minutes of its regular FOMC meeting held on 25-26 June. Federal Reserve policymakers expressed optimism about the economy's recovery two months ago despite the business scandals that have eroded…
Bank of Japan Transparency Report
REPORT - The Self-Assessment Report on Transparency Practices for Monetary Policy, Bank of Japan, 16 August.
Sveriges Riksbank Press Release
PRESS RELEASE - Repo rate left unchanged at 4.25 per cent, 16 August.
Sveriges Riksbank Press Release
PRESS RELEASE - Preliminary financial market statistics for May and June 2002, 15 August.
Greenspan keeps his nerve
ARTICLE - More mixed economic data appear to support Alan Greenspan's cautious decision not to cut interest rates any further for the time being, reports the Economist magazine on Friday. But this week the Fed admitted that stockmarket jitters have…
Korean terms of trade deteriorate in 2nd Quarter
KOREA - The nation's terms of trade deteriorated in the second quarter of the year, due to global hikes in the price of oil the Bank of Korea reports.
Dollar falls for fourth day in five versus euro
US - The U.S. dollar fell for a fourth day in five against the euro after a Federal Reserve report showed Philadelphia-area manufacturing unexpectedly contracted this month, the latest sign the U.S. economic recovery is slowing.
Some Fed members saw policy as too easy in June
US - In late June, some members of the Federal Reserve's interest-rate panel thought monetary policy was too easy for the central bank's long-term inflation-fighting and growth goals FOMC minutes show.
O'Neill sees growth, zero inflation
US - U.S. Treasury Secretary Paul O'Neill has said that the U.S. economy was set to exit 2002 in good shape with inflation benign, but exhorted corporate executives to help revitalize the economy by setting an example of honesty and integrity.
RBA Bulletin - August 2002 Issue
REPORT - The Reserve Bank of Australia published its August 2002 Bulletin on 15 August. The Bulletin contains articles on Australia's Foreign Currency Exposure and Hedging Practices and Recent Proposals for Reform of Sovereign Debt Restructuring.
Minutes of Japan's Monetary Policy Meeting
MINUTES - Minutes of the Bank of Japan's Monetary Policy Meeting on 15 and 16 July 2002, released 14 August. The minutes show that the members felt the U.S. economy was continuing on a recovery trend. On the current state of Japan's economy, members…
Minutes of Japan's Monetary Policy Meeting
MINUTES - Minutes of the Bank of Japan's Monetary Policy Meeting on 26 June 2002, released 14 August. The policy board acknowledged that most U.S. economic indicators confirmed that the country's economy continued to be on a recovery trend. The board…
Bank of England News Release
NEWS RELEASE - Bank of England £5 Banknotes, 14 August.
Federal Reserve Bulletin - August 2002
REPORT - The Bulletin is in two parts. Firstly the Monetary Policy Report to the Congress and an article, 'The Use of Checks and Other Noncash Payment Instruments in the United States'. The article suggests that the use of checks in the United States has…
Man admits Ukraine National Bank governors murder
UKRAINE - A court in Luhansk has heard details of the contract killing of the former head of the National Bank of Ukraine, Vadym Hetman.
Records show Moskow donated money to Bush fund
US - Federal Reserve Bank of Chicago President Michael Moskow donated $2,000, the maximum allowable, to President George W. Bush's election campaign, according to Federal Election Committee records.
How economics came to rival religious faith
ARTICLE - Is economics a religion? This question is posed by Samuel Brittan in the Financial Times on Thursday.
Arafat names Palestinian MA officials
PALESTINE - President Yasir Arafat has decreed the appointment of Dr Amin Muhammad Haddad as governor of the Palestinian Monetary Authority.
Speech by Shigemitsu Sugisaki of the IMF, 24 July
SPEECH - In a speech titled 'The U.S. and Japan in the Global Economic System' Sugisaki said "Japan's decade-long economic slump owes much to the delays in implementing structural reform, particularly bank and corporate debt restructuring". He added …
Federal Reserve Board Press Release
PRESS RELEASE - The Federal Open Market Committee decided today to keep its target for the federal funds rate unchanged at 1 3/4 percent, 13 August.
Bank of Canada Review, Summer 2002
REPORT - The Bank of Canada Review is a quarterly publication that contains four economic commentary and feature articles. The Bank issued its Summer 2002 Review on 13 August.
Bank of England Monetary Policy Committee Minutes
MINUTES - Minutes of the Bank of England's Monetary Policy Committee Meeting, 31 July and 1 August 2002. The minutes showed members of the Bank of England unanimously voted to leave interest rates on hold at the 31 July-1 August meeting. The members…