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Monetary Policy

Speech by Wim Duisenberg, ECB President, 24 Sep

SPEECH - Duisenberg said in a speech titled 'The first nine months of the euro cash era' that the he introduction of the euro banknotes and coins has been a major success. Euro banknotes make visible the Monetary Union and the close financial integration…

Speech by Hermann Remsperger, Bundesbank, 1 Aug

SPEECH - In the speech titled 'The role of the Deutsche Bundesbank in the European System of Central Banks' Remsperger said that although the Bundesbank's main activities related to monetary policy, payment systems and financial stability the Bank was…

Speech by Svein Gjedrem of Norges Bank, 19 Sep

SPEECH - Gjedrem said in the speech titled 'Economic policy challenges' that monetary policy functions with considerable and variable lags. Therefore, the current level of inflation does not provide an adequate basis for determining the level at which…

IMF World Economic Outlook, September 2002

REPORT - World Economic Outlook, Trade and Finance, International Monetary Fund, September 2002. In the most recent World Economic Outlook the International Monetary Fund said that world economic output would increase by 3.7% in 2003, compared to its…

Czechs unlikely to get euro soon

CZECH REPUBLIC - The Czech Republic will not be able to adopt the European single currency before 2007 at the earliest because of its huge budget deficit, the country's new finance minister has said.

New deadline for balanced budgets splits euro club

FRANCE - A proposal by Brussels to allow euro-zone states more time to balance their budgets has blown up into a big row between EU countries that have been making sacrifices and four members -- France, Germany, Italy and Portugal -- that were falling…

IMF calls for boost to global confidence

US - International Monetary Fund Managing Director Horst Koehler said on Thursday that global growth had been hurt by financial market uncertainty and called on world financial leaders to do their bit to restore calm.

Speech by Fed Chairman Alan Greenspan, 25 Sep

SPEECH - In the speech titled 'Policy Coordination' Greenspan reflected on the historic association between the Bank of England and the Federal Reserve with ties cemented in the 1920's. Greenspan said that London has stayed on top in the provision of…

Poland's central bank cuts rates

POLAND - Poland's central bank on Wednesday reduced its key interest rates by a half percentage point, making its sixth cut this year against the backdrop of a sluggish economy and falling inflation.

Honour Greenspan and Lady Prudence

ARTICLE - When the Queen knights Alan Greenspan tomorrow at Balmoral it will raise profound questions for the world's other central bankers, reported the London edition of the FT on Wednesday in an article.

Fed holds rates steady but with rare split vote

US - The Federal Reserve on Tuesday held interest rates steady despite a hesitant economic recovery and worries about a possible war with Iraq. In an unusual move the meeting saw dissent, with two members calling for a rate reduction. This was the first…

Speech by Governor, State Bank of Pakistan, 10 Jun

SPEECH - In the speech titled 'Is State Bank of Pakistan doing its job?' Husain said since July 2001 Pakistan has been able to maintain stability in its exchange rate. Had the country not developed the cushion of reserves that it has, there was a strong…

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