Monetary Policy
Chile central bank chief supports growth forecast
Vittorio Corbo, head of the Central Bank of Chile, told business leaders on Thursday 25 March that investment had begun to recover last year after a prolonged slump and the central bank was working hard to get inflation up to around 3 per cent following…
Bundesbank sees profits fall by €5bn
Germany's central bank has said that profits fell by €5bn last year compared to 2002. The drop was partly due to the lower valuation of its equities portfolio and a fall in the value of its dollar-denominated securities holdings.
ECB's Tumpel-Gugerell on an enlarged EU
In a speech 'Enlarged EU - Financial Strength and Weakness from a Global Perspective' given on 23 March, Gertrude Tumpel-Gugerell of the ECB said that while structural reforms, particularly of the labour markets, were needed in Europe, governments should…
Norges Bank conference on monetary policy
On Friday 26 March, Norges Bank will hold a conference on monetary policy in conjunction with the publication of Norges Bank's Annual Report for 2003.
Czech NB's Tuma calls for flexibility on euro
The Czech National Bank said on Tuesday 23 March that the European Union should be flexible over euro entry requirements for accession countries.
Interview with ECB President Jean-Claude Trichet
In an interview with a German newspaper, Jean-Claude Trichet, President of the European Central Bank, signalled his concern for the eurozone economy. He also said that consumer confidence in the euro zone was weaker than it should be at this stage of an…
Quaden says ECB still has ammunition
Belgian ECB governing council member Guy Quaden was quoted on Wednesday 24 March as saying that the ECB's official interest rate of two per cent is "extremely low" but the Bank has some room for manoeuvre if necessary.
Buba against foreign takeovers of German banks
The Bundesbank spoke out against foreign takeovers of the country's biggest banks and said that Germany needs at least one big bank to protect its economic interests, a newspaper reported on Wednesday 24 March.
RBZ declares foreign currency use illegal
The Reserve Bank of Zimbabwe has declared it illegal to use foreign currency to pay for goods and services within the country. The RBZ said the practice contravened the Reserve Bank of Zimbabwe Act.
Welteke sees eurozone recovery scenario intact
Bundesbank President and ECB Governing Council member Ernst Welteke said on Wednesday 24 March that the most likely scenario for Germany and the euro area is a moderate and gradual recovery. He also commented on remarks made by Guy Quaden earlier.
Canada's Duguay on monetary policy, global economy
In a speech on 'National monetary policy in a global economy' given on 22 March, Pierre Duguay of the Bank of Canada discusses the positive contribution of the bank's inflation-control strategy to the Canadian economy and highlights the importance of…
BoE's Large on debt puzzles in today's economy
In ae speech on 'Puzzles in Today's Economy - The Build up of Household Debt' given on 23 March, Andrew Large of the Bank of England said a key economic debate of the day is whether we, as a society, should be concerned about the level of debt borne by…
Padoa-Schioppa on the evolving financial landscape
In a speech on 'The evolving European financial landscape: integration and regulation' given on 22 March, Tommaso Padoa-Schioppa of the ECB provides an overview of the role of public policy in fostering integration and stability in the EU financial…
Malta's Bonello on cb views on new challlenges
In a speech on 'Central bankers' view of the new challenges' given on 21 February, Michael Bonello of the Central Bank of Malta said central bankers understand the importance of coherent policies designed to achieve a more efficient allocation and use of…
Chicago Fed chief: low inflation to keep rates low
Chicago Fed president Michael Moskow saidon Monday 22 March that concerns that inflation will soon accelerate are "premature" and he was optimistic about the economic outlook.
Fukui repeats deflation pledge
Toshihiko Fukui told Japan's parliament on Tuesday 23 March that the BoJ would continue with its ultra-loose monetary policy until deflation disappears completely in Japan.
Broaddus says Fed patience is right
Federal Reserve Bank of Richmond president Alfred Broaddus said in an interview that clear evidence of tighter labour markets and higher core inflation will be needed before the Fed can raise interest rates.
Ireland's Hurley on ECB interest rates
The Governor of the Central Bank of Ireland, John Hurley, has told the Irish Financial Markets Association (FMA) that the ECB is monitoring the interest-rate situation very closely.
Bank of Japan's Monetary Policy Meeting Minutes
Some members of the Bank of Japan Policy Board expressed concerns at a Feb. 4-5 meeting that there were nervous movements in the currency market and that the dollar might depreciate further, according to the meeting's minutes released on Friday 19 March.
Message from Jean-Claude Trichet on Madrid attacks
At Thursday's Governing Council meeting (18 March 2004), Jean-Claude Trichet, President of the European Central Bank, relayed to Jaime Caruana, Governor of the Banco de Espaa, the Governing Council's sincere condolences and assured him of its total…
Revision phase of the 'New ECB Premises' project
The ECB has chosen participants for the revision phase of the "New ECB Premises" project, 18 March. The main purpose of the revision phase is to review the design proposals to take account of the recommendations and requirements of the jury.
France supporting EBRD's Lemierre for IMF
Paris and Berlin agreed Monday that a decision should be made quickly on naming a new head of the International Monetary Fund (IMF) and that, as in the past, the person should be a European. A press report earlier said France would propose Jean Lemierre…
Hungary's central bank cuts base rate to 12.25%
The Monetary Council of Hungary's national bank (MNB) cut its base rate by 25 bp to 12.25% at its Monday meeting. The MNB said as a result of improving external and internal economic developments, the conditions for meeting the end-2005 inflation target…
OECD says ECB and Fed will raise rates in 04
The Fed and the European Central Bank are likely to start nudging interest rates higher this year, but in historical terms rates will remain low, an OECD report says.