Central Banks
Korean parliament to push BOK reforms
The Korean parliament's Finance and Economy Committee was set to discuss revisions to the law governing the Bank of Korea on Wednesday after a sub-committee met Tuesday, according to a report by Yonhap News.
'Stars are aligned' for U.S. economy- Fed's McTeer
Dallas Fed chief Bob McTeer said on Tuesday 22 July that factors are in place to see a recovery in the US economy and non-inflationary growth could be as much as 5 percent, according to Reuters. "I think all the stars are aligned for the economy to pick…
Serbia names Udovicki as new central bank governor
Kori Udovicki was appointed governor of the National Bank of Serbia (NBS) at a late session of parliament on Tuesday 22 July, the Finanial times reports. She was educated at Yale and pledged to boost ties between the NBS and the government. Udovicki is…
Fed's Bernanke - An Unwelcome Fall in Inflation?
In the speech 'An Unwelcome Fall in Inflation?' given on 23 July Ben Bernanke of the Federal Reserve said in a world in which inflation risks are no longer one-sided, and short-term nominal interest rates are at historical lows, the success of monetary…
Deutsche Bundesbank Monthly Report, June 2003
The Deutsche Bundesbank published the English version of its June 2003 monthly report on 17 July. Price developments in the past few months have been affected by falling oil prices, the report said. The recently observable rise in the prices quoted on…
BoJ willing to take risks to fight deflation
Giving a lecture in Tokyo on Wednesday 23 July, Bank of Japan governor Toshihiko Fukui signalled a willingness to fight Japan's economic slump made worse by deflation. Associated Press reports that Fukui said the BoJ "is willing to take unlimited risks…
"Upside down world" in Peru
Peru's central bank is in a state of flux. Its governor, Richard Webb, has abruptly resigned, lamenting to CentralBankNet that the central bank is caught up in "an upside down world". Webb's flight was prompted by unworkable differences between himself…
Dinkic goes down fighting
If the situation in Peru seems a little unstable, spare a thought for the devastation visited on Serbia's fledgling central bank. The government's use of a legislative blunderbuss to remove Mladjan Dinkic has triggered a sort of apocalyptic self…
McTeer, the Lonesome Dove
While many have criticised the Fed for being not being dovish enough by only cutting rates by a quarter point, this has not spoiled Bob McTeer's good humour.
Tietmeyer to open doors for Lazard's
Hans Tietmeyer, former president of Germany's Bundesbank, has joined Lazard's as a senior adviser. The appointment gives a boost to Lazard's position in Germany, where the bank has been adding senior staff over the past year.
Mervyn King looks up Sylvia Hotpants
Some people have been tempted to ask, "Do we need a new Bretton Woods"? According to Mervyn King, the answer is clearly "no". Why? Well, there are dangers in them woods. "My mother said, I never should, play with the gypsies in the woods". Especially if…
John Footman in key Bank role
The new Bank of England governor, Mervyn King, has set about selecting his top team and slotting people into jobs.
McTeer commencement address to economics graduates
In his 'Commencement Address to Economics Graduates' Bob McTeer of the Federal Reserve Bank of Dallas said Alan Greenspan is an excellent example of someone making a big difference by applying good economics. I'll just remind you how much the inflation/…
Ueda on credit risk transfers and central banks
In a speech on 'On Credit Risk Transfer Instruments and Central Banks' Kazuo Ueda of the Bank of Japan said the Bank has been massively increasing the supply of liquidity. The monetary base has risen by 50% and bank reserves have quadrupled during the…
Nickell on employment and taxes
In a speech on 'Employment and Taxes' given on 21 July Stephen Nickell of the Bank of England's MPC concluded that tax rates are a significant factor in explaining differences in the amount of market work undertaken by the working age population in…
RBNZ Deputy Governor Adrian Orr appointed
The Reserve Bank of New Zealand announced on Tuesday 22 July that Adrian Orr has been appointed the Bank's Deputy Governor and Deputy Chief Executive.
Bank of Japan Monthly Report, July 2003
The Bank of Japan published its Monthly Report of Recent Economic and Financial Developments, July 2003, on 17 July. The Report said business fixed investment is on a gradual recovery and while it reiterated that economic activity remains "virtually flat…
Brazil's Congress to quiz former c bank president
Brazil's Congress was due to question former president of the central bank of Brazil, Gustavo Franco, on Tuesday as part of a congressional inquiry into illegal money transfers, according to a report by BN Americas.
Barbados - CSME is important 'launching pad'
The governor of the central bank of Barbados, Marion Williams, has said the Caribbean must use the Caricom Single Market and Economy as a "launching pad" for international negotiations with the Free Trade Area of the Americas (FTAA) and World Trade…