Monetary Policy
Juncker says stability pact changes to be limited
Euro group president Jean-Claude Juncker said at the weekend that reform of the EU stability pact will be limited and will not harm economic stability.
G7 calls for increased exchange rate flexibility
G7 finance ministers and central bank governors have called for more flexibility in international exchange rates and warned that excess volatility would restrict global growth.
PBOC chief Zhou says China on track to reform
China is very much on the track toward an exchange rate reform in response to the demand of the world's richest nations for a more flexible exchange regime, China's central bank chief told Xinhua News in an interview.
Venezuela ratifies central bank president
Venezuela's National Assembly has ratified by simple majority, President Hugo Chavez' nomination of Gaston Parra Luzardo as the new president of the Central Bank of Venezuela (BCV).
Interview with Bank of Canada's Tiff Macklem
In an interview published this week, Bank of Canada Deputy Governor Tiff Macklem said Canada's economy may take two or three years to adjust to a currency that rose more than 20 per cent since early 2003 and "there is probably some more adjustment to go".
Malawi names new central bank governor
President Bingu wa Mutharika of Malawi has decided against renewing the contract of central bank governor Elias Ngalande, which expires at the end of this month, a government official said on Tuesday 1 February. Ngalande will be succeed by Victor Mbewe.
Nepal Rastra Bank appoints new governor
After a protracted dispute among the ruling parties, a cabinet meeting on Monday 31 January finally decided to appoint deputy governor Bijaya Nath Bhattarai as the new governor of the Nepal Rastra Bank.
BOT governor brushes off dismissal rumours
Bank of Thailand governor M.R. Pridiyathorn Devakula said this week that he had not been affected by rumours of his possible ousting from the central bank.
New York Fed's Foreign Exchange Operations report
The Federal Reserve Bank of New York said on Thursday 3 February in its quarterly report to the US Congress that the US monetary authorities did not intervene in the foreign exchange markets during the October - December 2004 quarter.
Fed's Greenspan on the current account
In a speech on 'Current account' given on 4 February, Alan Greenspan of the Federal Reserve said the dollar's decline and fiscal restraint by the US government may soon begin to reduce the US current account deficit, which stood at a record in the third…
Greenspan to testify on Social Security 15 March
Federal Reserve Chairman Alan Greenspan will testify on Social Security on March 15 at 10 a.m. EST (1500 GMT) before the Senate Special Committee on Aging, the panel said on Thursday 3 February.
Tanigaki says G7 statement likely unchanged
Japanese Finance Minister Sadakazu Tanigaki said the tone of the communique to be issued at the Group of Seven meeting of finance ministers and central bank governors will likely be little changed from last year's, Jiji Press reported.
G7 set to discuss yuan exchange rate
A French official said on Friday 4 February the G7 meeting in London will "evidently address" the question of the Chinese yuan's exchange rate.
Deal for Africa seen in jeopardy
Speaking on Friday 4 February US Treasury Under Secretary appeared to reject a plan to create an International Finance Facility to raise $100 billion a year for African nations.
Richmond Fed's Lacker: Technology & labor markets
In a speech on 'Technology and labor markets' given on 18 January, Jeffrey Lacker of the Federal Reserve Bank of Richmond said technology improvements, not trade, have been the driving force behind US wage and job trends in recent years.
Federal Reserve boosts key interest rate to 2.5%
The Federal Open Market Committee decided on Wednesday 2 February to raise its target for the federal funds rate by 25 basis points to 2-1/2 per cent. In a press release the FOMC said the economy is growing "at a moderate pace despite the rise in energy…
ECB press conference with questions and answers
The ECB kept interest rates on hold on Thursday 3 February; Jean-Claude Trichet said that economic conditions are likely to improve.
US Treasury's Snow to miss G7 meeting
US Treasury Secretary John Snow will not attend the meeting of Group of Seven finance ministers in London this weekend, as he has a chest cold.
Sveriges Riksbank Economic Review 4th Quarter 2004
The Sveriges Riksbank published its Economic Review for the 4th Quarter 2004 on Thursday 3 February. The latest issue contains an address by the Riksbank Governor "A decade of inflation targeting".
China rejects US threat on yuan
A threatened US bill which would give China six months to revalue its exchange rate before facing sanctions was criticised by the Foreign Ministry as the wrong way to handle the situation.
Bank of Mexico sets minimum loan rate
The central bank of Mexico has set a minimum overnight rate to banks for the first time since 1998, suggesting it may adopt an interest-rate targeting system similar to the Fed.
Norges Bank keeps interest rate unchanged at 1.75%
At its monetary policy meeting on 2 February, Norges Bank's Executive Board decided to leave the sight deposit rate unchanged at 1.75 per cent. The Executive Board said it did not see any clear alternatives to leaving the interest rate unchanged.
Central Bank of Ireland, Quarterly Bulletin 1/2005
The Irish central bank published its first Quarterly Bulletin of 2005 on Tuesday 1 February. The Bulletin reports that the outlook for the Irish economy in 2005 remains positive; the Bank is forecasting GNP growth for 2005 of about 4.75 per cent (GDP 5…
Bollard on New Zealand's potential growth rate
In a speech on 'New Zealand's potential growth rate' given on 28 January, Alan Bollard of the Reserve Bank of New Zealand said that if we want to see New Zealand's GDP per capita grow at the same rate over the next decade as it did in the previous ten…