Monetary Policy
G7 wants to reuse old forex language says Taylor
John Taylor, US Treasury undersecretary for international affairs, has said that the G7 finance ministers and central bank governors want to stick to the script on foreign exchange developments that was first used at a meeting in Boca Raton in February…
Germany expects few ex rate developments at G7
The German government does not expect any significant developments on exchange rate policies at the upcoming Group of Seven (G7) meeting of industrialised nations, AFX quoted sources as saying.
Fed expected to raise rates on 2 Feb
Federal Reserve policymakers were widely expected to agree on a quarter-point increase in interest rates on Wednesday 2 February. The Federal Open Market Committee was expected to issue a statement at the conclusion of the session at about 2015GMT.
BB to introduce automated cheque clearing system
The Bangladesh Bank (BB) is introducing an automated cheque clearing system in its clearing house to quicken the process and boost transactions in commercial banks.
Bank of Japan bill auction fails
The FT reported on Wednesday 2 February that the Bank of Japan failed to attract enough offers in a bill-buying operation for the first time in nearly two and a half years.
Poole on The outlook: Mississippi and the nation
In a speech on 'The outlook: Mississippi and the nation' given on 20 January, William Poole of the Federal Reserve Bank of St. Louis said US price pressures appear well controlled, but the Federal Reserve will move aggressively to protect low inflation…
Fed's Bies on the economy and retirement savings
In a speech on 'The economy and challenges in retirement savings' given on 18 January, Susan Schmidt Bies of the Federal Reserve said she foresaw a moderation of inflationary trends, which would allow the Fed to continue being "measured" in raising…
Sweden's Heikensten on economy & monetary policy
Sveriges Riksbank Governor Lars Heikensten spoke at a meeting on the current state of the economy and monetary policy on 21 Janaury. He said developments in the financial markets are largely in line with the assessment in the previous Inflation Report.
Norway's Bergo on inflation targeting
In a speech on 'The basis for inflation targeting' given on 21 January, Jarle Bergo of Norges Bank said that the lesson from Nobel Prize winners Kydland and Prescott was that economic policy can achieve better results if the authorities can commit…
Japan sees G7 currency stance staying unchanged
There is likely to be be no call for a change in global foreign exchange rates, a senior Japanese finance ministry official said on Tuesday 1 February.
BSP chief says economy still fragile
Although the peso and share prices have soared to new highs, Governor Rafael Buenaventura of the Bangko Sentral ng Pilipinas (BSP) said the government still has a lot of work to do to put the economy on a firm footing.
The Greenspan succession
In an article published this week Paul Krugman says the Bush administration will have a hard time finding a successor to Alan Greenspan, who is expected to retire next year. Feldstein and Hubbard are mentioned, but Krugman warns that appointing a "yes…
Interview with San Francisco Fed's Janet Yellen
Federal Reserve Bank of San Francisco president Janet Yellen gave an interview this week in which she expressed optimism about the US economy. The world economy looks on track for moderate growth and China has been trying to moderate its growth with the…
Interview with Trinidad & Tobago's deputy governor
Amoy Chang Fong, deputy governor of the Central Bank of Trinidad and Tobago, is due to retire at the end of January after 36 years at the bank. In an interview published this week she said the position of the central bank "at the heart of the economy"…
Hans Genberg appointed Executive Director at HKMA
The Hong Kong Monetary Authority announced on Monday 24 January the appointment of Hans Genberg as Executive Director in charge of research with effect from 7 February.
Interview with ECB's Gonzalez-Paramo
In an interview published on Thursday 27 January, ECB Executive Board member Jose Manuel Gonzalez-Paramo describes working at the ECB as the pinnacle of a career devoted largely to central banking, after a decade spent working within the governing bodies…
Somalia's central bank chief gets second term
Dr Mohamud Mohamed Ulusow has been re-appointed as governor of the Central Bank of Somalia for the second time.
Greenspan and King to receive Scottish honour
The University of Edinburgh will present Alan Greenspan and Mervyn King with honorary degrees at a graduation ceremony on 7 February.
Bank of Italy faces strike threat
Unions have threatened to call a series of strikes between mid February and mid March, to protest against the Bank of Italy's executives' decision to amend the agreements reached with the unions.
Italy nominates candidate for ECB board
Italy nominated Lorenzo Bini Smaghi, a senior finance official in Rome, as candidate for the European Central Bank's executive board this week.
Does Europe need stability or flexibility?
After long fighting a weakening of the stability and growth pact, it now appears as if Brussels is willing to play along. This article looks at the expected revamp of the pact and asks whether it will hurt or help Europe's economy.
Riksbank leaves interest rates unchanged
At its meeting on Wednesday, 27 January, the Executive Board of the Sveriges Riksbank decided to leave the repo rate unchanged at 2 per cent. Inflation, measured in terms of UND1X, is expected to be roughly in line with the Riksbank's target two years…
Figures show counterfeit euro coins on the rise
Figures show that in 2004 there was a substantial rise in the number of fake euro coins removed from circulation, according to European Anti-fraud Office (OLAF).
World Bank appointment getting 'careful attention'
World Bank President James Wolfensohn told staff on Wednesday 26 January that the search for his successor was getting "careful attention" from the Bush Treasury but he was tight lipped on possible candidates.