Monetary Policy
Federal Reserve Board - Beige Book, October 2004
The Federal Reserve has published its October 2004 Beige Book survey. The report said the economy grew in most regions of the United States in September and early October, despite signs that higher energy costs are beginning to bite.
Trichet: EU Enlargement challenges & opportunities
In a speech on 'EU Enlargement: challenges and opportunities' given on 27 October, Jean-Claude Trichet of the ECB said the eurozone economy was likely to continue growing at its current pace, but noted that high oil prices could dampen the speed of the…
Tanigaki says Japan's economy is recovering
Japanese Finance Minister Sadakazu Tanigaki told parliament on Thursday 28 October that Japan's economy is on a recovery trend while deflation remains.
ECB's Garganas: little effect on exports from euro
European Central Bank council member Nicholas Garganas said in an interview the euro's appreciation against the dollar this month probably won't hurt European exports and will help offset the effects of surging oil prices on the economy.
China's central bank raises interest rates
The People's Bank of China on Thursday 28 October raised interest rates for the first time in nearly a decade to guide its heated economy to a path of slower growth.
Mexico's Ortiz sees inflation falling
Central bank Governor Guillermo Ortiz said on Wednesday 27 October that he expects Mexico's annual inflation rate to start declining in the second quarter of 2005, and the Banco de Mexico remains committed to fighting rising prices.
The ECB - History, role and functions
The European Central Bank published a book on its history, role and functions on Monday. The publication looks at the ECB from legal, institutional and organisational standpoints.
Norges Bank book on Historical Monetary Statistics
Norges Bank has collected and systematised historical data of relevance to price stability and financial stability, the two main areas of responsibility for central banks. This historical data has been documented in Norges Bank Occasional Papers No. 35 …
Sveriges Riksbank Inflation Report, No.3, 2004
Sweden's central bank, the Sveriges Riksbank, has published its Third Inflation Report for 2004. International growth has been slightly higher than expected, despite the rise in oil prices. At the same time, the report says, Swedish exports have shown an…
Padoa-Schioppa on enlargement and "old" Europe
In the speech 'Enlargement and "old" Europe: Blow or bless?' given on 21 October Tommaso Padoa-Schioppa of the ECB said the entry into the EU of 10 new member states last May could stimulate economic reforms in the other 15 EU member countries.
Dodge at House of Commons Finance Committee
In a speech to the House of Commons Finance Committee given on 26 October David Dodge of the Bank of Canada said with the economy expected to remain near its production capacity, core inflation is projected to move back up to the 2 per cent target by the…
Snow says US economy on right path
The U.S. economy is on the right path, but obstacles including high oil prices, deficits and business caution stand in the way of full recovery, US Treasury Secretary John Snow said on Tuesday.
ECB's Weber says euro appreciation not justified
European Central Bank council member Axel Weber said Europe's single currency may have appreciated against the dollar more than can be justified by economic arguments.
Oil will not cause recession says Dallas Fed
Stephen Brown, the senior economist for the Federal Reserve Bank of Dallas said Tuesday that high oil prices are unlikely to push the U.S. economy into a recession.
MEPs vote to alter report on ECB
Conservative and liberal MEPs voted Tuesday in Strasbourg to dramatically alter the French Green MEP Alain Lipietz's Report on the 2003 Annual Report of the European Central Bank to such an extent that the Rapporteur was forced to recommend a negative…
South Africa eases exchange controls
South African Finance Minister Trevor Manuel announced Tuesday that apartheid-era foreign exchange controls would be eased by scrapping the limits on how much companies can invest abroad.
SF Fed's Yellen on the national economy
In a speech on 'Perspectives on the national economy and monetary policy' given on 21 October, Janet Yellen of the San Francisco Fed said the Federal Reserve may need to speed up or slow down its rate-tightening campaign, depending on economic activity…
How Reserve Bank of Fiji conducts monetary policy
This article outlines how the conduct of monetary policy in Fiji is transmitted from the Reserve Bank of Fiji's (RBF) policy indicator rate (PIR) through to interest rates in the economy and finally to economic activity and its impact on inflation and…
Danmarks Nationalbank, Monetary Review 3rd Q 2004
The Danmarks Nationalbank's Monetary Review for the third quarter 2004 includes the following articles: The Basel Committee's endorsement of new capital-adequacy rules, Counterfeit banknotes, The role of capital in banks and The economic situation in the…
Trichet's statement to EP on ECB's Annual Report
In a statement to the European Parliament on the ECB's Annual Report 2003 on Monday 25 October, Jean-Claude Trichet said the eurozone economy was likely to continue growing at its current pace, but noted that high oil prices could dampen the speed of the…
Buba's Weber on European inflation dynamics
In a speech on 'European inflation dynamics and inflation convergence' given on 15 October, Axel Weber of the Bundesbank said we still do not know enough about the factors that determine inflation persistence in the euro area and we cannot even be sure…
ECB deplores attack on Hungarian cb independence
European Central Bank president Jean-Claude Trichet said late on Monday 25 October that the ECB considers the Hungarian government's proposal to increase its influence over the country's central bank as unacceptable.
BOJ's Fukui says prices just one hurdle
Core consumer prices at zero percent is only one hurdle the Bank of Japan will need to clear when deciding whether to stop its policy of keeping interest rates at almost zero, Governor Toshihiko Fukui said.
BNB gets observer status at ECB meetings
The Bulgarian central bank will receive an observer status in the European System of Central Banks and in the European Central Bank General Council, after the country signs its accession treaty with EU in 2005, the Central Bank's governor, Ivan Iskrov…