Monetary Policy
IADB chief praises Argentine crisis strategy
ARGENTINA - Inter-American Development Bank (IADB) President Enrique Iglesias on Tuesday praised Argentina's strategy to try and end its worst ever economic crisis, even though it has caused a standoff between the government and the IMF.
Latvia nominate ex c banker as next prime minister
LATVIA - Einars Repse, a former head of the Central Bank who campaigned against corruption, was nominated Tuesday to be the next prime minister of the former Soviet republic.
The ECB and Euro-Area Enlargement
RESEARCH - IMF Working Paper by Helge Berger, October 2002. The likely enlargement of euro-area membership will radically change the environment under which monetary policy will be made in the euro area. This paper looks at the consequences of such an…
Danmarks Nationalbank Monetary Review, 3rd Quarter
REPORT - Denmark's central bank has published its Monetary Review 3rd Quarter 2002. The report contains articles including, Recent Economic and Monetary Trends, Status of the Basle Committee's New Capital-Adequacy Rules for Bank, Structure of the Banks'…
Sveriges Riksbank Economic Review 3rd Quarter 2002
REPORT - The Economic Review contains articles titled, The yield curve and the Riksbanks signalling, Consolidation in the Swedish banking sector: a central bank perspective and An evaluation of forecasts for the Swedish economy.
South African Reserve Bank Press Release
PRESS RELEASE - Governor appointed Honorary Colonel, 31 October.
Gjedrem on monetary policy in Norway
SPEECH - In the speech 'Monetary policy in Norway' made on 17 October, Svein Gjedrem of Norges Bank said with the free flow of capital, deep capital markets and the phasing in of petroleum revenues into the Norwegian economy, inflation targeting is the…
ECB Press Release
PRESS RELEASE - Publication of the European Court of Auditors' report on the efficiency of the ECB's management for the financial year 2001 and the ECB's reply, 30 October 2002.
Minutes of Japan's Monetary Policy Meeting
MINUTES - Minutes of the Bank of Japan's Monetary Policy Meeting on 17 and 18 September 2002, released 5 November. The Policy Board noted Japan's economy has almost stabilised as a whole thanks to an export increase and the associated expansion of…
Kuwait market ready for more funds - central bank
KUWAIT - The Governor of Central Bank of Kuwait Sheikh Salem Abdulaziz Al-Sabah has said that the Kuwaiti market is developing considerably especially in the investment funds sector in the past two years.
BOJ must set inflation target to prompt growth
ARTICLE - As the government's effort to end the bad-debt quandary is apparently shifting into a higher gear, concerns are growing that accelerated bad-loan write-offs could worsen, at least in the short term, the deflation that is sapping Japan's…
Banking Bunkum
ARTICLE - The Asia Times takes a look at central banks and suggests they have similar characteristics to libraries, where books and money serve the same purpose. They also tell us that ex Federal Reserve chairman Paul Volcker once said "central bankers…
Bank of Canada won't tip its hand
CANADA - A deputy governor of the Bank of Canada answered its critics on Monday, telling a blue-chip crowd that it's not the central bank's job to fine-tune the markets' expectations about future interest rate moves.
Tokyo shares surge as Asia awaits Fed
JAPAN - Japanese shares jumped nearly three percent Tuesday, while most other Asian stock markets paused to pocket profits, as investors looked forward to an expected cut in U.S. interest rates.
Panel to discuss central bank of Israel's wages
ISRAEL - Knesset State Control Committee Chairman MK Ran Cohen (Meretz) has called an extraordinary session for next week to discuss the Bank of Israel's wage policy.
Latvia: New Era party announces coalition deal
LATVIA - Latvia's election-leading New Era party, headed by former central bank chief Einars Repse, said Monday that it has negotiated a four-party center-right coalition deal to lead the country into the European Union and implement Western-style…
Brazil's Fraga urges Lula reforms to help debt
BRAZIL - Brazil's Central Bank President Arminio Fraga on Monday urged President-elect Luiz Inacio Lula da Silva to press ahead with reforms that would assuage investors and cut the cost of servicing Brazil's $260 billion mountain of debt.
IMF upbeat on Ukrainian monetary policy
UKRAINE - The International Monetary Fund has approved the monetary policy of the National Bank of Ukraine because it enabled Ukraine to maintain stable prices and keep the low inflation rate, the head of the IMF mission in Ukraine, Emanuel van der…
Indian banks to take up forward trading in gold
INDIA - In what is seen as a possible first step in opening up the Indian bullion market, all scheduled commercial banks authorised to deal in gold have been permitted to enter into forward contracts with their constituents (exporters of gold products,…
CentralBankNet Monday Special Feature
SPECIAL FEATURE - In this weeks special feature, CentralBankNet looks at the prospects for interest rates. The Bank of England, ECB and Federal Reserve all convene their respective committee's this week for regular monetary policy meetings and there is a…
Gary Stern on economic literacy
SPEECH - In the speech 'Economic Literacy Leads to Better Grasp of Public Policy Issues' made on 24 October, Gary Stern of the Federal Reserve Bank of Minneapolis said it doesn't hurt to remind ourselves and others that economics has a lot to say about…
Bank of England News Release
NEWS RELEASE - Bank Agency to be based in Exeter, 29 October.
Minutes from the Sveriges Riksbank Board meeting
MINUTES - Minutes of the Sveriges Riksbank Executive Board meeting on 16 October, published 30 October. Although the Executive Board voted to maintain the repo rate at 4.25 per cent the minutes reveal Deputy Governor Kristina Persson entered a…
Europe's best defence against deflation
ARTICLE - Many people are worried about deflation. Severe deflation, as in the early 1930s, is catastrophic; mild deflation, as in Japan today, could become self-reinforcing. There are, moreover, similarities between early 1990s Japan and parts of Europe…