Monetary Policy
Nigeria appoints new deputy governor
Tunde Lemo has been appointed as a deputy governor of the Central Bank of Nigeria by President Olusegun Obasanjo.
Ex RBA governor hits on 'scandalous' salaries
Bernie Fraser, the former governor of the Reserve Bank of Australia, has taken a swipe at executive pay levels.
Prat-Gay: Argentine creditors must take losses
Argentina's central bank governor Alfonso Prat-Gay told investors at the World Economic Forum on Wednesday 21 January that his country's creditors will have to take large losses on their defaulted debt.
Tanigaki to explain Japan's monetary policy at G7
Japanese Finance Minister Sadakazu Tanigaki said on Friday 23 January that he will give an accurate picture of Japan's fiscal and monetary policies at the upcoming Group of Seven finance ministers' meeting.
Argentina mixes bank notes with musical notes
The central bank of Argentina has introduced a novel feature by offering people the chance to listen to music while browsing its revamped website.
ECB's Wellink-Rate moves can't control fx swings
Nout Wellink of the European Central Bank's Governing Council said that interest rate moves were not the way to deal with foreign exchange swings and that the euro's external value was not excessive.
Counterfeit euro notes rises in 2nd half 2003
The ECB said on Thursday 22 January that a total of 311,925 counterfeit euro banknotes were removed from circulation in the second half of 2003, an increase of 30 per cent on the first half.
ECB Monthly Bulletin, January 2004
The European Central Bank published its January 2004 Monthly Bulletin on 22 January. In the report the ECB spelt out its concern over currency volatility but showed no sign it might change its outlook for a gradual economic upturn in the eurozone.
Bank of Canada Monetary Policy Report Update
The Bank of Canada released its Update to the October Monetary Policy Reporton 22 January. The report discusses economic and financial trends in the context of Canada's inflation-control strategy.
King on the ball as usual
Mervyn King paid a visit on Tuesday 20 January to Villa Park, home of his beloved Aston Villa football club, telling a business lunch he had always wanted to perform at Villa Park and now was his chance.
Interview with San Francisco Fed's Robert Parry
In an interview published on Monday 19 January, soon to retire President Robert Parry of the San Francisco Fed said the US economy "is growing at a pretty rapid pace" while inflation remains at historic lows. The toughest time for him at the Fed was 2001…
Germany reports growth at 0.25%
The Bundesbank said on Monday 19 January in its January monthly report that Germany grew by just 0.25 percent in the fourth quarter of 2003 compared with the third quarter.
BoE's King on the UK's new inflation measure
In a speech given on 20 January, Mervyn King of the Bank of England said reinforced expectations of higher borrowing costs in the UK, saying that the BoE's new inflation target would not mean looser policy than otherwise would have been.
Bank of England MPC Minutes 7/8 January
Minutes of the Bank of England's Monetary Policy Committee Meeting were released on 21 January for the meeting of 7 and 8 January 2004. Sir Andrew Large was the sole dissenter on the MPC for the second month in a row, voting for a quarter-point rate rise.
Issing's testimony to the European Parliament
In testimony before the Committee on Economic and Monetary Affairs given on 20 January, Otmar Issing of the ECB backed Brussels' legal action against EU capitals for shirking the EU's deficit rules.
Ukraine adopts anti-money laundering program
The Ukrainian government and the National Bank have backed a program for 2004 to guarantee implementation of 40 recommendations of the Financial Action Task Force.
Solbes confident of euro stability
Speaking on Tuesday 20 January, Pedro Solbes, the EU's monetary affairs commissioner, said he believes the euro will not rise excessively, following EU ministers warning of dangers amid a record rise in the currency's value.
IMF's Krueger says more flexible rupee desirable
Anne Krueger said on Wednesday 21 January that the Indian rupee must be allowed more flexibility and the Reserve Bank of India should intervene less in the currency market.
Rapid yen moves will be acted on - Tanigaki
Japanese Finance Minister Sadakazu Tanigaki said at the weekend that Japan will keep acting against rapid and speculative moves in foreign exchange markets.
As euro soars ECB must be ready to cut - Rogoff
The euro could strengthen to $1.40 or beyond and the European Central Bank must be prepared to cut interest rates in response, former IMF chief economist Kenneth Rogoff was quoted as saying.
Fazio's address to the Euro-Mediterranean seminar
In his welcoming address to the Eurosystem and Mediterranean Central Banks Euro-Mediterranean seminar, Antonio Fazio said the talents that the central banks have brought to the European system is founded on autonomy and independence, sometimes carefully…
RBI faces tough issues to resolve the 'trilemma'
This article looks at a school of thought which believes that the Reserve Bank of India has failed to find out an inflexion point for short-term rates. The result, it says, is an unabated inflow of capital and excess of rupee-liquidity in the inter-bank…
BOJ makes changes to policy guidelines
At the Bank of Japan's Monetary Policy Meeting held on Tuesday 20 January, the bank decided to change the main operating target in the guideline for money market operations.
Bank of Canada lowers rate target to 2.5%
The Bank of Canada announced on Tuesday 20 January that it is lowering its target for the overnight rate by one-quarter of one percentage point to 2 1/2 per cent.