Monetary Policy
Greenspan: growth vigorous, spending cuts needed
In a speech on 'Economic outlook and current fiscal issues' given on 25 February, Alan Greenspan of the Federal Reserve said the US economy has turned the corner from recession and is on the verge of "sustainable" growth. To ensure that, Congress must…
Serbia replaces central bank chief
Serbia's parliament sacked national bank governor Kori Udovicki on Wednesday 25 February in a 129-109 vote following allegations that the vote electing her to the post was rigged. Radovan Jelasic was later voted in to replace Udovicki.
France's Noyer reassures over 'very stable' euro
Bank of France governor Christian Noyer played down the rise of the euro on Wednesday 25 February, saying the rate was "very stable" and that the exchange rate was not far from the launch rate of the euro in 1999.
China and US meet on yuan, but no quick fixes seen
U.S. and Chinese officials met on Wednesday 25 February for talks on China's financial policies, including discussion on the yuan peg. John Snow said he understood Chinese policymakers arguments that China cannot change yuan policy overnight.
Schroeder urges ECB consider rate cut
German Chancellor Gerhard Schroeder said on Wednesday 25 February that the European Central Bank should "most intensively" consider cutting interest rates to halt the euro's appreciation against the dollar.
IMF's Koehler supports Japan's FX intervention
Visiting the International Monetary Fund (IMF), Managing Director Horst Koehler said on Wednesday 25 February in Tokyo that he could understand Japan's currency intervention policy.
Tumpel-Gugerell: Central banks in an enlarged EU
In the speech 'Challenges for central banks in an enlarged European Union and euro area' given on 20 February, Gertrude Tumpel-Gugerell of the ECB said a new and changing environment requires new concepts and innovation in the field of central banking.
Papademos on the competition for new ECB premises
In his introductory statement at the Deutsches Architektur Museum given on 20 February, Lucas Papademos of the ECB said the ECB is very satisfied that the results of the international architectural competition have fulfilled its expectations.
Phil Fed's Survey of Professional Forecasters
The Federal Reserve Bank of Philadelphia published its First Quarter 2004 Survey of Professional Forecasters on 23 January. Prospects for economic growth look stronger now than they did just three months ago, according to the 32 forecasters surveyed.
ECB's Issing tries to deflate Greenspan's bubble
While Federal Reserve Chairman Alan Greenspan is taking his victory lap, other central bankers and private-sector economists are questioning what they see as a case of premature hubris.
BOJ chief's coronation may be premature
This article looks at Bank of Japan governor, Toshihiko Fukui who was described recently as "the toast of Tokyo financial circles" and named central banker of the year by a magazine. If Fukui can succeed where none of his predecessors has over the last…
IMF's Koehler: Japan economic growth 'sustainable'
Speaking on Tuesday 24 February on a visit to Asia the head of the International Monetary Fund said that Japan can sustain its recent recovery and praised reforms in the nation's financial sector.
Greenspan on Fannie and Freddie
Greenspan today (February 24) called for Congress to appoint a regulator and impose debt ceilings on Fannie Mae and Freddie Mac. Without such action, the rapid growth of these huge agencies was "likely" to cause systemic difficulties.
Hungary's Jarai: euro accession by 2008 difficult
President of the National Bank of Hungary Zsigmond Jarai said on Monday 23 February that considerable sacrifices will need to be made if Hungary is to join the eurozone in 2008.
US - China group on currency to meet this week
A six-member US delegation will meet with officials from the People's Bank of China this week to discuss various financial issues including currency and banking matters.
Excerpt from interview with ECB's Otmar Issing
In an excerpt from an interview in the latest issue of Central Baking journal Otmar Issing, the ECB's chief economist, discusses potential weaknesses of inflation targetting and explains why money still matters in monetary policy.
Greenspan on education and the economy
In a speech on 'The critical role of education in the nation's economy' given on 20 February, Alan Greenspan of the Federal Reserve said warned against resorting to "protectionist cures" to deal with job losses.
Fed's Bernanke on the great moderation
In a speech on 'The Great Moderation' given on 20 February, Ben Bernanke of the Federal Reserve said said the Fed has been successful over years in fostering price stability and he is optimistic for the future because monetary policy-makers will not…
Gjedrem on economic perspectives
In a speech on 'Economic perspectives' given on 19 February, Svein Gjedrem of Norges Bank said a sharp rise in asset prices and debt accumulation may pose a risk to economic stability. With a view to mitigating this risk, it will be appropriate in some…
Norges Bank's accounts for 2003
Norges Bank's annual accounts for 2003 show a surplus of NOK 20.8 billion, compared with a deficit of NOK 24.1 billion in 2002. Norges Bank said that no transfer will be made to the Treasury from the Transfer Fund.
IMF managing director Horst Kohler to visit Asia
International Monetary Fund managing director, Horst Kohler, will travel to Japan and Korea in late February to meet with leaders and senior government officials.
US consumers in good shape, says Greenspan
Fed Chairman Alan Greenspan said on Monday 23 February that the US household sector seemed to be in good shape. Homeowners have done well, with their total debt burden kept under control.
McTeer says Fed wording moves focus from calendar
Dallas Federal Reserve President Robert McTeer said on Saturday 21 February that the shift in the wording of the FOMC's statement represented a an effort to force financial markets to focus on economic conditions rather than on time.
BOJ's Iwata: Inflation at 1-2% would be stable
Deputy Governor of the bank of Japan Kazumasa Iwata said in an interview that the BOJ will probably keep interest rates near zero until consumer prices rise about 1 to 2 per cent.