Monetary Policy
ECB's Quaden - "More and more signs" worst over
BELGIUM - European Central Bank Governing Council member Guy Quaden welcomed Tuesday the latest reading in German business sentiment, calling it another sign that the euro-zone economy has turned the corner.
San Fran Fed sees silver lining in low saving rate
US - Americans are still not able to squirrel away huge chunks of cash for a rainy day, but we might not have to, a report released Monday by the Federal Reserve Bank of San Francisco suggested. And this may be especially true in the Bay Area.
Greek central bank sees eurozone CPI below 2 pct
GREECE - Greece's central bank expects a gradual recovery of economic activity in the eurozone this year with consumer inflation falling below 2.0 percent, governor Lucas Papademos said on Tuesday.
BOJ board voted 8-1 to keep policy unchanged 8 Feb
JAPAN - The Bank of Japan's policy board, at a Feb. 8 meeting, voted 8-1 to keep the bank's monetary policy stance unchanged, the BOJ said Tuesday.
Pakistan work to establish modern financial system
FEATURE - As Afghanistan rebuilds, industrialized nations around the world are paying close attention to attempts by neighboring Pakistan to modernize its financial system, reports Nikkei Weekly.
Russia's new central banker in TV interview
FEATURE - Bank deposits in Russia should be at least partially guaranteed by the state. In return, the banks should submit to tighter supervision and higher standards, which will increase public confidence in Russia's banks, the new chairman of Russia's…
Monetary policy in a virtual economy, 27 March
FEATURE - The Reserve Bank launches a web-based monetary policy computer simulation game today whereby the player fights inflation by controlling interest rates in a virtual economy. You play the Governor of the central bank and failure to keep inflation…
NZ central bank launches monetary policy game
NEW ZEALAND - The Reserve Bank of New Zealand Wednesday launched a Web-based simulation game that tests players' skills at controlling consumer price inflation.
Polish MPC leaves rates steady despite pressure
POLAND - The National Bank of Poland (NBP) defied political pressure on Wednesday by leaving interest rates unchanged, matching market expectations but risking a run-in with the government over how to revive the economy, report Reuters.
Speech by A Santomero of Philadelphia Fed, 21 Mar
SPEECH - The early stages of the U.S. economic recovery are going "extremely well," but the outlook for consumer and business demand critical to sustaining the recovery remains uncertain, Santomero said on Thursday.
Reserve Bank of New Zealand discussion papers
RESEARCH - Monetary policy and inflation forecasting with and without the output gap by Weshah Razzak, March 2002.
Speech by Sirkka Hamalainen of the ECB, 26 Mar
SPEECH - Hamalainen gave a speech on Tuesday titled 'Implementing monetary policy in the euro area'. In the speech she said that short term deviations in the euro zone inflation rate from the bank's two percent inflation ceiling were perfectly acceptable.
BOK introduce financial asset based currency gauge
SOUTH KOREA - The central bank on Tuesday introduced more accurate measures of the nation's money supply based on financial assets, which provides an exact picture of liquidity in circulation reported The Korea Times.
Dollar falls, Fed's McDonough says it's overvalued
US - The dollar slid more than half a cent against the euro and more than 2/3 of a yen Tuesday after New York Federal Reserve President William McDonough said the dollar may be "a little" overvalued.
McTeer says U.S. Fed has time to move on policy
CZECH REPUBLIC - Robert McTeer, president of the Federal Reserve Bank of Dallas, on Tuesday said the U.S. Federal Reserve has some time for policy adjustments but added that members of the rate setting FOMC remain open-minded on the issue.
Minutes of Japan's Monetary Policy Meeting
MINUTES - Bank of Japan Monetary Policy Meeting Minutes from the 7 and 8 February, released 26 March.
MPC over-estimates inflation threat, research says
UK - The Bank of England's monetary policy committee has consistently over-estimated the threat of higher inflation, according to research to be presented today at the Royal Economic Society's annual conference.
Poll gives full marks to swift action of Fed
US - The US economy is highly unlikely to slip back into recession, but its recovery had far more to do with lower interest rates than tax cuts, according to a survey of leading economists issued yesterday.
Testimony of Otmar Issing of the ECB, 20 Mar
TESTIMONY - Issing said in his testimony to the European Parliament that the euro area economy will speed up in the course of the year but inflation would remain subdued. "Recent data point to a recovery starting moderately in early 2002 and accelerating…
Bank of Japan Monthly Report
REPORT - Monthly Report of Recent Economic and Financial Developments from the Bank of Japan, March 2002, released 25 March.
Business Outlook Survey
REPORT - The Federal Reserve Bank of Philadelphia has published its regular Business Outlook Survey for March 2002.
Speech by Ian Macfarlane, Governor, RBA, 22 Mar
SPEECH - Macfarlane's address, on 'Sir Leslie Melville: His Contribution to Central Banking in Australia', outlined Melville's role at the Commonwealth Bank of Australia when it served as both the central bank and a commercial bank.
Annual accounts of the ECB
ANNUAL ACCOUNTS - Annual accounts of the ECB for the year ending 31 December 2001 released 21 March 2002 (to be published in the ECB's Annual Report 2001 on 23 April 2002).
Wadhwani - Current high interest rate policy risky
UK - Rising household debt and the possibility of a depreciation in sterling's exchange rate aren't sufficient grounds to keep interest rates higher than necessary, said one of the Bank of England's nine interest-rate setters Monday.