Monetary Policy
Philadelphia Fed Business Outlook Survey, May 2005
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, May 2005, activity in the region's manufacturing sector continues to expand; however, indicators are down from last month's numbers.
Fiji's Narube warns of slower growth this year
Presenting the Reserve Bank of Fiji's quarterly report for March 2005, RBF governor Savenaca Narube warned that economic growth is expected to be lower this year, while the longer term trend will depend on export success.
Housing plan may not lift prices says BoE's Barker
A plan by the UK government to help up to 100,000 Britons buy their own homes may not push up house prices as the government is committed to increasing supply, Bank of England policymaker Kate Barker said on Tuesday 24 May.
Fed's Moskow promotes personal accounts
Chicago Federal Reserve Bank President Michael Moskow said on Monday he favours the idea of "some kind of personal accounts" as a method of addressing the long-term funding issues facing Social Security.
Riksbank seeing weaker than expected economy
A deputy governor of Sweden's Riksbank, Kristina Persson, said Tuesday 24 May the central bank is seeing signs of somewhat weaker economic activity than it had previously expected.
OECD says US rates to rise, ECB must cut
U.S. interest rates will need to rise further to keep inflation pressures in check but the growth outlook for other major world economies is precarious and the euro zone needs a rapid rate cut, the OECD said on Tuesday 24 May in its semi-annual Economic…
Memorandum of understanding on financial crises
The banking supervisory authorities, the central banks and the Finance Ministries of the European Union (EU) have agreed on a Memorandum of Understanding on co-operation in financial crisis situations, 18 May.
Sweden's Nyberg on the Riksbank & inflation target
In the speech 'The Riksbank and the inflation target' given on 19 May Lars Nyberg of the Sveriges Riksbank said it is important to monitor whether the slackening tendencies seen in economic activity recently are temporary or more persistent.
Fed's Greenspan on energy
In the speech 'Energy' given on 20 May Alan Greenspan of the Federal Reserve said a modest easing in oil demand in response to higher prices should keep inventories rising in the U.S. and elsewhere for some months.
Chicago Fed National Activity Index, Apr 2005
The Chicago Fed National Activity Index for April 2005 was +0.10, up from -0.04 in March. Two of the four broad categories of indicators that comprise the index-employment and consumption and housing-made positive contributions.
Kosovo to establish a central bank
Economy and Finance Minister Haki Shatri told KosovaLive website that UNMIK (UN Interim Administration Mission in Kosovo) and the government finally have agreed that Banking and Payment Authority of Kosova will become the Central Bank of Kosova.
Iraq central bank plans payment transfer system
Iraq's central bank plans to implement a new interbank payment system that will revolutionize the country's inefficient banking system by the end of this year, Governor Sinan al-Shabibi said in an interview Friday 20 May.
Lacker says Fed may offer too many bank services
Richmond Federal Reserve Bank President Jeffrey Lacker said on Friday 20 May it was "hard to justify" the level of services the Fed provides for banks, particularly for clearing retail payments, such as check clearing.
Trichet sees many euro members breaking pact rules
European Central Bank president Jean-Claude Trichet said Monday 23 May many euro zone governments look set to return deficits above the stability and growth pact's limit of 3 pct of GDP this year.
Issing: Govts must deal with growth differentials
European Central Bank chief economist Otmar Issing said in a speech Friday 20 May euro zone growth differentials must be dealt with by national economic policies rather than by the ECB's interest rate policy.
Central bankers’ cosy retreat
For 75 years the BIS has played a central and sometimes controversial role in bringing central banks together. Harold James reviews a new history of the bank.
The pact’s last stand
Political tensions have been contained by the deal on deficits, but at what cost to Europe’s fiscal regime and its single currency? William Clarke reports from Brussels.
Dangerous drift in international money
The international monetary situation is being allowed to drift dangerously as the leading countries neglect the risks and ignore calls for reform. Robert Pringle reports from Beijing.
On the record - Mervyn King
In February, Mervyn King raised some thoughtful questions about the way the system works at present, and how it might in the future.
International Journal of Central Banking launched
The first issue of the International Journal of Central Banking (IJCB) was published on Thursday 19 May.
BoE's Tucker reappointed to MPC
Paul Tucker, Executive Director for Markets at the Bank of England, has been reappointed for a further three-year term as a member of the Monetary Policy Committee with effect from 1 June 2005.
Bank of Canada to reallocate responsibilities
Bank of Canada Governor David Dodge and Senior Deputy Governor Paul Jenkins announced a reallocation of responsibilities among several Deputy Governors on Tuesday 17 May.
Senior appointments at Bank of Canada
Bank of Canada Governor David Dodge and Senior Deputy Governor Paul Jenkins, on behalf of the Board of Directors, announced a number of new appointments to the senior management team on Tuesday 17 May.
Interview with RBI's Reddy
In an interview published on Wednesday 18 May Reserve Bank of India Governor Yaga Venugopal Reddy said any revaluation of the Chinese yuan will have less of an impact on India than other Asian countries.