Monetary Policy
Statement by Ian Macfarlane of the RBA, 5 June
PRESS RELEASE - Statement by Ian Macfarlane, Governor of the Reserve Bank of Australia, on monetary policy: "Following a decision taken by the Board at its meeting yesterday, the Bank will be acting in the money market this morning to increase the cash…
Economic prospects looking up says Greenspan
USA - America's economic prospects are looking up according to Fed chairman Alan Greenspan on Tuesday, although he warned that further economic growth in the short term will slow from the January-March pace.
RB of Australia raises benchmark rate to 4.75%
AUSTRALIA - The Reserve Bank of Australia raised its benchmark interest rate for the second time in a month by a quarter percentage point to 4.75%. It is hoped this will put a damper on a housing boom and consumer spending that may fuel inflation.
Congress pushes for inflation targeting at the Fed
USA - A key member of Congress is attempting to pressure the Federal Reserve into adopting an inflation targeting regime. Although there is some support for this at the Fed, Chairman Alan Greenspan is vehemently opposed to the idea.
Slovenia's former cb governor to run for president
SLOVENIA - Slovenia's former central bank governor, France Arhar, yesterday declared his intention to stand as an independent candidate in presidential elections later this year after current president Milan Kucan's second term expires.
French prosecutor recommends no trial for Trichet
FRANCE - The Paris prosecutor's office recommended last Friday that Jean-Claude Trichet, the governor of the Bank of France, should not be put on trial over the Credit Lyonnais bank scandal, thus easing his chances of succeeding Wim Duisenberg at the ECB.
Speech by M Moskow, President, Chicago Fed, 23 May
SPEECH - SPEECH - Moskow gave a speech Thursday titled 'Benefits of Open Markets and Expanded Trade', in it he said "because the downturn was moderate, we expect that the early stages of this recovery will also be moderate by historical standards."
Eurozone inflation falls but M3 grows
GERMANY - A marked drop in euro zone inflation in May strengthened beliefs that the ECB will hold fire on interest rates, although its key money gauge M3 moved further away from its benchmark of 4.5%, growing to 7.5% from 7.3% in March.
Moody's downgrades Japan by two more notches
JAPAN - Ratings agency Moody's Investors Service has downgraded government bonds issued by Japan - the world's second biggest economy - by two notches to the same status as those from Latvia and Poland.
IMF approves Zambian funds
ZAMBIA - The International Monetary Fund (IMF) has approved $317m (£216.4m) financing for Zambia's 2002 economic plan to target poverty reduction.
Chicago Fed national index negative in April
USA - The Federal Reserve Bank of Chicago said on Thursday its National Activity Index was mired in negative territory for the 22nd consecutive month in April at a level of -0.22.
Fed's McTeer-US rebound like 'jobless recovery'
CANADA - Federal Reserve Bank of Dallas President Robert McTeer said on Thursday that the US economy's rebound from recession resembled a jobless recovery.
Australian interest rates 'to soar'
AUSTRALIA - Interest rates may have to rise by two percentage points in Australia to cut the risk of overheating, the country's central bank chief has warned.
Argentina scraps key economic law
ARGENTINA - Argentine senators have ditched a controversial law that has been putting off international lenders. The IMF has made abolition of Argentina's so-called economic subversion law a condition for lending to the cash-strapped nation to restart.
Speech by M Moskow, President, Chicago Fed, 16 May
SPEECH - In a speech titled 'Economic Outlook' Moskow said "While certain sectors of the economy are still experiencing hard times, overall activity has recovered from the recession we suffered last year and we appear to be on our way to a moderate…
Speech by Masaru Hayami, Bank of Japan, 30 May
SPEECH - In a speech titled 'The Economy: Recent Developments and Challenges' Hayami said that although the yen weakened last year, since spring "the yen has been rising and the dollar has been falling. People are scaling back their expectations for the…
Sveriges Riksbank Press Release
PRESS RELEASE - Backstrom: Earlier assessments still largely apply, 29 May.
Research from the St Louis Fed
REPORT - The Federal Reserve Bank of St. Louis Review, May/June 2002.
Papademos to make ECB debut at Eurogroup as No.2
GERMANY - Incoming European Central Bank Vice President Lucas Papademos will make his debut as the bank's number two at the Eurogroup meeting of euro zone finance ministers in Luxembourg on Monday.
Coo!
FEATURE - Sushil Wadhwani's tenure as a member of the Bank of England's interest rate setting committee comes to an end on Friday. The Financial Times, in its Observer column on Thursday, couldn't help making one last joke about Wadhwani's dovish…
Ian exits
FEATURE - The FT's Observer writes on Thursday, farewell Ian Plenderleith - sphinx-like to the end. At a Tuesday night retirement bash for the Bank of England director, his boss Eddie George preserved Plenderleith's legendary reputation as a backroom…
ECB Working Paper Series
RESEARCH - The Spanish block of the ESCB-multi-country model, by Alpo Willman and Angel Estrada, May 2002.
Speech by Sirkka Hamalainen of the ECB, 30 May
SPEECH - In a speech titled 'The role of the euro in global capital markets' Hamalainen described the euro as a global currency and said that the aim and goal of the Eurosystem should be to strengthen the integration and economic performance of the EU…
Outgoing MPC member raises bank independence fears
UK - The independence of the Bank of England could be at risk if it continues to undershoot its target for inflation, a member of the Bank's monetary policy committee has warned.