Monetary Policy
Open letter by Kenneth Rogoff to Joseph Stiglitz
LETTER - An open letter by Kenneth Rogoff, Economic Counsellor and Director of Research, International Monetary Fund, to Joseph Stiglitz, author of Globalization and Its Discontents (New York: W.W. Norton & Company, June 2002), Washington D.C., 2 July.
Speech by Wim Duisenberg, ECB President, 2 Jul
SPEECH - Duisenberg said in his introductory statement to the European Parliament "I have seen some worrying developments in fiscal policy in some countries in the last few months," adding that it was vital that all countries had their budgets close to…
Norges Bank Press Conference, 3 July
PRESS CONFERENCE - Monetary policy meeting of Norges Bank's Executive Board / Inflation Report 2/ 2002.
Norges Bank Press Release
PRESS RELEASE - Norges Bank increases interest rates, 3 July.
Norges Bank's Inflation Report 2, 2002
REPORT - The Inflation Report discusses developments in the Norwegian economy and other factors that influence the inflation outlook. In addition, the balance of risks and uncertainty associated with the inflation projections are assessed.
Research from the Federal Reserve Bank of Atlanta
RESEARCH - The Behavior of Federal Funds Futures Prices over the Monetary Policy Cycle by Jeff Moore and Richard Austin, Federal Reserve Bank of Atlanta, Economic Review, Second Quarter 2002.
Answering tough online questions in 11 languages
ARTICLE - The change-over to the euro at the start of this year posed numerous challenges not only for banks and businesses across much of Europe but, as the Financial Times investigated on Wednesday, it also posed problems for the team of writers,…
Demand must moderate, Sir Edward George warns
UK - Sir Edward George, governor of the Bank of England, has warned that "domestic demand will have to moderate of its own accord" or "we'll have to put rates up" He was speaking in an interview with a Scotland based newspaper.
South Africa's Reserve Bank in Atlanta mission
SOUTH AFRICA - South Africa's central bank governor will meet leading African-Americans in Atlanta next week in an effort to boost US investment in the country.
Former Ugandan central bank chief in 'civil jail'
UGANDA - The East African newspaper reported on Monday that the former governor of Uganda's central bank, Dr Sulaiman Kiggundu, was currently being held in jail for not paying a $360,000 debt.
RBNZ raises main interest rate to 5.75 - up 0.25%
NEW ZEALAND - The Reserve Bank of New Zealand said it has decided to increase the official cash rate by 25 basis points to 5.75 pct so that they no longer encourage accelerated spending although further increases were now "rather less likely" than was…
Brazilian currency hits another record low
BRAZIL - Brazil may have won the World Cup for the fifth time last Sunday but the harsh realities of life return as the country's currency yesterday hit another record low. The governor of Brazil's central bank said that markets were ignoring the country…
Radicals want Polish central bank chief dismissed
POLAND - The Self-defence farmers' trade union (Samoobrona) radical farmers' union filed a draft resolution with the Sejm (lower house of parliament) on Wednesday for a dismissal of central bank head Leszek Balcerowicz.
UK's anti-euro lobby enlist help of celebrities
UK - A British cinema advertisement in which comedian Rik Mayall mimics Adolf Hitler plunged the campaign to keep the pound into a row on Tuesday.
Banque De France - Annual Report 2001
ANNUAL REPORT - Introductory letter for the Annual Report of the Banque de France submitted to The President of the French Republic, The President of the Senate, The President of the National Assembly, by Governor Jean-Claude Trichet, Bank of France.
ECB Press Release
PRESS RELEASE - Visit of the Prime Minister of Australia, 1 July.
ECB Press Release
PRESS RELEASE - Publication of papers of the workshop 'The role of policy rules in the conduct of monetary policy', 1 July.
ECB Working Paper Series, No 154
WORKING PAPER - The Euro bloc, the Dollar bloc and the Yen bloc: how much monetary policy independence can exchange rate flexibility buy in an interdependent world?, by Marcel Fratzscher, June 2002.
Bank of England News Release
NEWS RELEASE - The Dutch Legacy, Go Dutch at the Bank of England's Museum in Bartholomew Lane, EC2, 2 July.
Chicago Fed National Activity Index
REPORT - In May, the Chicago Fed National Activity Index increased to -0.07 from -0.28 in April. The index has been negative in 22 of the 23 months since June 2000. Released 1 July.
Central Bank of Austria - Annual Report 2001
ANNUAL REPORT - The Oesterreichische Nationalbank, Austria's central bank, has published its Annual Report for 2001.
Duisenberg steps up ECB anti-inflation rhetoric
GERMANY - European Central Bank President Wim Duisenberg on Tuesday warned against the risks of inflation, keeping markets guessing on the eve of a bank policy meeting about whether it would raise interest rates.
Fed's McDonough - Price stability has many virtues
POLAND - In a speech extolling the virtues of central bank independence, Federal Reserve Bank of New York President William McDonough reiterated the importance of maintaining price stability for an economy.
Forecasters' vision clouds during turning points
US - Research by the Federal Reserve Bank of Atlanta on economic forecasts by The Wall Street Journal in the last 16 years showed that accuracy was low at crucial points of the economy, with forecasters missing out on the aggressive rate cuts of the…