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Monetary Policy

Norway's Gjedrem on inflation targeting

In a speech on 'Inflation targeting - some theory with main focus on practice' given on 8 June, Svein Gjedrem of Norges Bank said Norges Bank placed increasing emphasis on low and stable inflation and a formal inflation target for monetary policy was…

Bank of Canada keeps interest rate unchanged at 2%

The Bank of Canada announced on Tuesday 8 June that it is maintaining its target for the overnight rate at 2 per cent. In a press release it said all things considered, the Bank's outlook for economic growth and core inflation is essentially unchanged…

Central banks' annus horribilis

As policymaking institutions, central banks had a good 2003. The global economy turned up, the financial sector strengthened. As businesses though, 2003 was a disaster. The plunging dollar saw central banks around the world take huge hits on their…

The Netherlands Bank - Annual Report 2003

The Netherlands Bank has published its Annual Report for the year ended 2003. The world economy is growing at a rate not seen for years. The dynamism manifest in the United States and the Asian region is particularly vigorous, it says. Under the…

Dallas Fed's McTeer: Topspin

In a speech on 'Topspin' given on 30 May, Bob McTeer of the Federal Reserve Bank of Dallas said we are all very lucky to be part of an economy still based largely on the economic and political ideals of Adam Smith and Thomas Jefferson. That ideal being…

Germany's Weber on financial stability

In a speech on 'Financial Stability and Globalisation' at the Second Conference of the Monetary Stability Foundation given on 3 June, Axel Weber of the Bundesbank said it is his wish that the conference will ultimately help to improve understanding of…

SNB's Roth on the creation of the euro

In a speech on 'The Creation of the Euro and the New International Monetary Order: A View from Switzerland' given on 4 June, Jean-Pierre Roth of the Swiss National Bank said the introduction of the euro has been a very positive development for the…

BOJ, govt closer on economic policy says Takenaka

Japan's government and central bank now have closer ties, Economics and Financial Services Minister Heizo Takenaka said on Monday 7 June, citing a recent agreement among policymakers that by some views demands more accountability from the Bank of Japan.

T&T central bank criticised over discrimination

Secretary General of the Sanatan Dharma Maha Sabha, Sat Maharaj, has apparently criticised the Central Bank of Trinidad and Tobago, citing it as an example of cultural discrimination in Trinidad and Tobago, according to a report by the Trinidad and…

Feldstein - The Next Greenspan?

As one of George W. Bush's key advisors on economic policy, Harvard professor Martin Feldstein helped design the President's tax cuts. He's working on a plan to overhaul Social Security. Could he be the next Greenspan, this article asks.

RBA's Macfarlane sees growth close to 4 percent

In his opening statement to the House of Representatives Standing Committee given on 4 June, Ian Macfarlane of the RBA said that the Australian economy was set to grow by 3.75 percent in 2004 and signalled the Reserve Bank was "comfortable" with interest…

Independence law for Central Bank of Taiwan

When passed into law, the amended Central Bank Act in Taiwan will define the central bank as "the national bank which exercises its duties independently as prescribed by the law," this article says. Important amendments to the Act include requiring the…

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