Monetary Policy
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.
S Africa c bank reiterate difference with Zimbabwe
SOUTH AFRICA - South Africa's central bank reiterated on Monday the factors that distinguished its economy from neighbouring Zimbabwe, whose woes have dented investor confidence in the region and adversely hit the rand.
Gerashchenko stays with central bank
RUSSIA - Viktor Gerashchenko, former chairman of the Central Bank of Russia, plans to take the post of an economic adviser at the Scientific and Research Institute of the Bank of Russia reports Novecon.
Fraga defends more flexible account inviolability
BRAZIL - More flexible rules for breaking bank account inviolability, allied with a solid international cooperation among banks and government financial institutions, is a fundamental weapon to combat money laundering in the world, according to Central…
The long and short of it for central banks
FEATURE - Never mind the question about when and how far they should follow the US FOMC. Asian central banks have their hands full at the long end of the curve at the moment.
ECB's Issing says high Greek inflation "worrying"
GREECE - Greece's higher than eurozone average inflation is a "worrying development" that poses problems to Greek competitiveness, European Central Bank Chief Economist Otmar Issing said on Sunday.
Independence vital for Russia's central bank - PM
RUSSIA - Prime Minister Mikhail Kasyanov said the Central Bank of Russia must be independent.
Speech by T Padoa-Schioppa of the ECB, 21 Mar
SPEECH - In the speech titled 'Accession Countries on the Way to the Euro: A Central Banker's View' Padoa-Schioppa said a carefully chosen timeframe for euro adoption by new members after they join the EU would ensure that fighting inflation would not…
Federal Open Market Committee Meeting - Minutes
MINUTES - The Federal Reserve Board on Thursday released the minutes of its Federal Open Market Committee Meeting from 29-30 January 2002, released 21 March.