Monetary Policy
Bundesbank's Weber says banking mergers make sense
Bundesbank President Axel Weber said promoting mergers in the German banking industry may ``make sense'' as such combinations can be cheaper to carry out than partnerships with banks outside the country.
Renminbi float will be monitored closely, Zeti
Malaysia will closely monitor the implications of a possible float in the now-pegged renminbi in the foreign exchange market and particularly the effects on the local economy.
Brazil sticks to 5.5 % inflation target
Brazil's central bank continues to target inflation of 5.5 per cent this year despite the rising cost of oil and market expectations that consumer prices will rise, the bank's president said on Wednesday 26 May .
Trichet at the Bank of Russia Seminar
In a speech to the Joint Eurosystem - Bank of Russia Seminar, Helsinki given on 25 May Jean-Claude Trichet of the ECB said with this seminar we want to strengthen and broaden our dialogue on all central banking issues, taking account of developments not…
Greenspan, his limo rides, and interest rates
The Republican central banker's visits to the White House have nearly quadrupled since Bush replaced President Clinton, according to this article. His visits lead to two intriguing questions, the article says. How involved is the Fed chairman in setting…
Fed Reserve Bank of Boston - Annual Report 2003
The Federal Reserve Bank of Boston has published its Annual Report for the year ended 2003. In the Feature Essay "Embracing Change" president Cathy Minehan looks at the payments evolution, new approaches to education, and managing risk - changes in the…
Norway holds interest rate unchanged
Norway's central bank, Norges Bank, kept its key interest rate unchanged at their Wednesday meeting at 1.75 percent. Norges Bank maintained its outlook of easing bias suggesting they still believe that the next rate movement will more likely be a cut…
Bundesbank's Weber to discuss deficit with Eichel
Bundesbank President Axel Weber said he will meet with German Finance Minister Hans Eichel on Friday to discuss ways to avoid violating European Union budget rules for a fourth straight year in 2005.
Liebscher slams Stability Pact spoilers
European Central Bank governing council member Klaus Liebscher said Wednesday that euro zone states must respect the terms of the Stability and Growth Pact.
IMF opens training centre in China
On Wednesday the International Monetary Fund inaugurated a training center jointly built with China in Dalian, a port city in northeast China's Liaoning Province. Attendees included Robert Mundell, the former Nobel prize winner.
China economists call for yuan basket peg
A group of leading Chinese economists, including a member of the People's Bank of China's influential monetary policy committee, has called for China to remove its long-standing yuan peg to the U.S. dollar and fix the yuan to a basket of currencies.
Interview: Leszek Balcerowicz
In conversation with the editor, the president of the National Bank of Poland explains why he believes in taking the shortest route possible to the euro.
The Three Baltic states
President Kraft of the Bank of Estonia, Governor Rimsevics of the Bank of Latvia and Governor Sarkinas of the Bank of Lithuania, outline their countries preparations for joining the euro.
Interview: Christodoulos Christodoulou
Cyprus is ready to be one of the first accession countries to join the euro, says governor of the Central Bank of Cyprus.
Substance and semantics in ERM II
In the February issue, Peter Kenen and Ellen Meade discussed the Maastricht treaty's convergence criteria and their application to the accession countries. Here, they look more closely at the key role of the exchange rate criterion.
A toolkit for financial stability
Monetary union does not insulate against financial crisis, says Max Watson. Accession countries must continue to watch - and - report - imbalances in the economy.
Third ECB central banking conference dates
The European Central Bank announced on Monday 24 May that it will hold its 3rd Central Banking Conference on 21st and 22nd October 2004 in Frankfurt, on "The New EU member states: convergence and stability".
Fed Reserve Bank of Atlanta - Annual Report 2003
The Federal Reserve Bank of Atlanta on 20 May published its Annual Report for the year ended 2003. Jack Guynn says the annual report explores how the Fed's grassroots foundation not only remains relevant today but actually enhances how the Atlanta Fed…
Phil Fed's Survey of Professional Forecasters
The Federal Reserve Bank of Philadelphia published its Second Quarter 2004 Survey of Professional Forecasters on 24 May. The participants in the second quarter survey see steady rates for unemployment and real GDP growth for the year. Their estimates for…
Bank of Japan's MP Meeting Minutes, April 04
The Bank of Japan released the minutes from its 8 and 9 April Monetary Policy Meeting on 25 May. Some Policy Board members said domestic long-term interest rates needed close monitoring and cited the risk of long-term interest rates rising before there…
The extraordinary Greenspan
This editorial from The Washington Times says it is quite unlikely that the American and world economies would have experienced such good fortunes as they have over the past 20 years were Mr. Greenspan not leading the world's most powerful central bank…
Trichet says ECB must not overreact on data
ECB chief Jean-Claude Trichet said on Monday 24 May that the central bank generally had to show 'sang-froid' and moderation in its reaction to economic developments. In a speech delivered in French he said the stability and growth pact does not need to…
ECB 'wrong' for letting euro strengthen-Berlusconi
Italian Prime Minister Silvio Berlusconi has criticised the European Central Bank for allowing the euro to strengthen too much against the dollar, hurting eurozone exporters and boosting inflation.