Monetary Policy
Bank of England hints at future rate rise
UK - May's decision by the Bank of England's Monetary Policy Committee (MPC) to leave interest rates unchanged at 4% was unanimous for the third month in a row, the latest minutes of the MPC's meeting have shown.
IMF mail 'positive for anthrax'
US - The International Monetary Fund (IMF) has said mail it received in Washington has tested positive for the anthrax bacteria. This comes less than a month after we reported an anthrax scare at the Federal Reserve.
Britons hoard £1bn cash
FEATURE - British households are sitting on an estimated £945m cash pile, according to a new survey - and much of it can be found under sofa cushions.
Sweden 'not ready' for euro - Report
SWEDEN - Sweden is not yet ready to join the euro because its currency is too unstable and the central bank not independent enough from the government, the European Commission has said.
Testimony of Fed Reserve's, Louise Roseman, 17 May
TESTIMONY - In testimony titled 'The golden dollar coin' to the Subcommittee on Treasury and General Government Roseman describes the Federal Reserve's role in coin distribution and its activities in supporting the golden dollar coin.
Bank of Japan Monetary Policy Meeting
PRESS RELEASE - At the Monetary Policy Meeting held today, 21 May, the Bank of Japan decided, by unanimous vote, to maintain the following guideline for money market operations for the intermeeting period:
Bank of Japan Discussion Paper Series
RESEARCH - Institute for Monetary and Economic Studies, Bank of Japan, 'Do Currency Regimes Matter in the 21st Century?' An Overview by Hiroshi Fujiki and Akira Otani, May 2002.
Bank of Japan Discussion Paper Series
RESEARCH - Institute for Monetary and Economic Studies, Bank of Japan, Pricing-to-Market (PTM) and the International Transmission Effect of Monetary Policy: The 'New Open-Economy Macroeconomics' Approach by Akira Otani, May 2002.
Testimony of Wim Duisenberg, ECB President, 21 May
TESTIMONY - In testimony on Tuesday Duisenberg told members of the European parliament that he wanted to stress forcefully that all euro-zone states had to respect their commitment to remove public deficits by 2003 or 2004.
European Parliament Press Release
PRESS RELEASE - ECB President warns States to stick to Stability Pact, 21 May.
Business Outlook Survey
REPORT - The Federal Reserve Bank of Philadelphia has published its regular Business Outlook Survey for May 2002.
Fed Res Bank of Philadelphia - Annual Report 2001
ANNUAL REPORT - The Federal Reserve Bank of Philadelphia has published its Annual Report for the year ended 2001.
Survey of Professional Forecasters
RESEARCH - Federal Reserve Bank of Philadelphia, Survey of Professional Forecasters, Second Quarter 2002, released 21 May.
Bank of England unveils new note
UK - The Bank of England has unveiled an improved, criminal-proof £5 note featuring a portrait of Elizabeth Fry, the 19th century social reformer.
Outlook for US economy positive - Chicago Fed
US - The U.S. economy is in the midst of a modest rebound from recession, and capital spending, a key driver of growth, is likely to recover in the third or fourth quarter of 2002, said Curt Hunter, the head of research for the Chicago Federal Reserve on…
Latent recovery fails to move Bank of Japan
JAPAN - The Bank of Japan announced a decision to leave monetary policy unchanged after a two-day Policy Board meeting which ended on Tuesday.
Poll says most Germans want rid of euro
GERMANY - A UK newspaper reports that the party is over for the euro in Germany. A majority of the country which more than any other embraced the concept and birth of the single currency now longs for the return of the Deutschmark it is claimed.
ECB warns about deficits, inflation
BELGIUM - The president of the European Central Bank, Wim Duisenberg, urged euro-zone government to stand by promises to balance their budgets by the end of 2004, here on Tuesday.
Business gets good news from Russian EBRD meeting
ROMANIA - European business leaders, attending a forum here alongside a meeting of the European Bank for Reconstruction and Development, got assurances from Russia Monday that the country was about to stage a comeback on international capital markets.
HKMA Press Release
PRESS RELEASE - Fifth Hong Kong Monetary Authority distinguished lecture, 21 May.
Speech by T Padoa-Schioppa of the ECB, 20 May
SPEECH - In a speech titled 'Self vs. public discipline in the financial field' and made on 20 May (but only just published) Padoa-Schioppa discussed the evolution of the methods of financial regulation towards using industry standards and process…
Speech by Fed Reserve Governor Mark Olson, 17 May
SPEECH - In a speech titled 'Financing Options for Small Business' Olson said that it was known that small business plays a substantial role in the overall economy.
Facing up to a post-Greenspan future
FEATURE - With every change of personnel at the Federal Reserve comes renewed speculation about what the institution will look like once Alan Greenspan, its revered chairman, finally departs.
Central bank they deserve
LETTER - Letter to the Financial Times published in the US edition 18 May. From Anthony Gould, New Jersey.