Monetary Policy
Franco faces new accusations
Oh, this fickle world! Once praised by his compatriots for his hand in hauling Brazil out of the mire in 1997, and even named central banker of the year by Euromoney as a consequence, the tide has turned for Gustavo Franco.
New vice-governor in Belgium
Seasoned politician Luc Coene has been appointed as the new vice-governor of the National Bank of Belgium. He was previously the prime minister Guy Verhofstadt's right hand man, acting among other things as his chief of staff.
An original career change
After a career in central banking, what is there left? A certain feeling of emptiness has been known to haunt ex-central bankers, which some have attempted to relieve by immersing themselves in academic studies, while others have resorted to the soothing…
RBA keeps interest rates unchanged at 4.75%
The Reserve Bank of Australia keep interest rates unchanged on Wednesday 6 August for the 14th month running, according to Bloomberg. RBA governor Ian Macfarlane said in June he was prepared to lower interest rates unless global demand recovers.
Finance minister becomes governor in Peru
How will Javier Silva measure up as the new governor of Peru's central bank? Previously the country's finance minister, Silva stepped into the breach to replace Richard Webb after the latter's resignation on account of unworkable disagreements between…
Central Bank of Aruba - Annual Report 2002
The Central Bank of Aruba has published its Annual Report for the year ended 2002. In the President's statement AR Caram said despite the ongoing recession in Aruba, final consumptive spending in real terms increased by an estimated 2 percent during 2002…
Bermuda Monetary Authority - Annual Report 2002
The Bermuda Monetary Authority has published its Annual Report for the year ended 2002. In the Chairman's statement Cheryl-Ann Lister said the year has seen the successful completion of a key stage in the Authority's continuing development. At one level,…
Bank of Italy - Annual Report 2002
The Bank of Italy has published its Annual Report for the year ended 2002. In the first half of 2002 world economic activity accelerated, sustained in the leading industrial countries by the expansive stance of monetary and budgetary policy, the Annual…
Goodbye, yellow brick road
An article in the Financial Times places Federal Reserve Chairman Alan Greenspan in the world of the Wizard of Oz. For the time being, it says, the Fed's goal is to ward off deflation; if that means straying from the Yellow Brick Road of policy orthodoxy…
Iraqi central bank seeks transfer of frozen assets
Faleh Salman, the acting governor of the Central Bank of Iraq has requested all frozen assets of the former Iraqi government be transferred to a development fund set up at the New York Federal Reserve, Reuters reported.
Japan's Takenaka to meet Greenspan
Japanese Economics Minister Heizo Takenaka was due to begin a five day visit to the Unites States on Tuesday, AFX Asia said. His schedule includes a meeting with Fed chairman Alan Greenspan.
Japan says economy is recovering, ups assessment
The Japanese government's monthly economic report expressed optimism referring to "signs of change" in the worlds second largest economy. A partial recovery in Japan's stock market and increased exports. Bank of Japan deputy governor Toshiro Muto said …
Belarus to issue non-cash Russian rubles
The central banks of Belarus and Russia have reached agreement over issuing non- cash Russian rubles in Belarus, proportionate to GDP. The meeting of the Interbank Currency Council on 1 August was attended by the presidents of both central banks, a…
Bank of Spain cautiously optimistic on economy
Spain's GDP rose to an annual rate of 2.2% in the second quarter, the Bank of Spain's quarterly report showed Monday. The Bank said that the pick-up was largely thanks to the improved global outlook, robust consumer spending and low interest rates,…
Slovak Officials want to adopt euro by 2009
Slovakia aims to introduce the euro by 2009 Finance Minister Ivan Miklos and central bank Vice Governor Elena Kohutikova said in interviews. Switching to the common currency will raise economic growth by 1 percentage point, Bloomberg reported Kohutikova…
Monday Special Feature - Central Bankers Abroad
It is that time of year when many central bankers jet off on holiday. But where do they go, and what do they get up to? CentralBankNet has done a bit of asking around - and got some varied responses.
Atlanta Fed's Guynn on the economic outlook
In a speech on 'The Economic Outlook: Building Momentum on the Road to Stronger Growth', given on 31 July, Jack Guynn of the Federal Reserve Bank of Atlanta said that as far as he can see, it looks like the road to stronger growth is opening up, and it's…
Kenneth Rogoff - Escape from global deflation
In an article published in the Nihon Keizai Shimbun, Kenneth Rogoff of the IMF said the odds of global deflation are not high, but if it were to set in, the world's central banks have the tools needed to address the problem. The path out, however, is…
Exits from pegged regimes: An empirical analysis
The IMF Working Paper 'Exits From Pegged Regimes: An Empirical Analysis' analyses the determinants of exits from pegged regimes, where exits involve shifts to more or less flexible regimes, or adjustments within the existing regime. The results confirm…
Dollarization of the banking system: Good or bad?
The IMF Working Paper 'Dollarization of the Banking System: Good or Bad?' assesses the benefits and risks associated with dollarization of the banking system. The authors find that the credibility of macroeconomic policy and the quality of institutions…
'Wrong, Mister' - Greenspan under fire at Congress
Transcript of Rep. Sanders' question-and-answer period with Federal Reserve Chairman Alan Greenspan during the Financial Services hearing on 15 July. Congressman Sanders said in his statement "I think you just don't know what's going on in the real world…
Atlanta Fed's Guynn sees economic momentum growing
Atlanta Fed President Jack Guynn said on Thursday 31 July that business investment spending and job growth were key uncertainties that will have a strong influence on business investment spending and job growth, according to Reuters. Guynn cited a number…
Trichet urges Chirac to cut public spending
Bank of France governor Jean-Claude Trichet has called on President Jacques Chirac to reduce spending and introduce reforms to lift growth, according to the Financial Times. In a letter to the President, accompanying the Bank's annual report, Trichet…
Sweden's Persson shifts euro-debate to politics
Swedish prime minister Goran Persson urged Swedes to vote yes to the euro in the 14 September referendum, according to EUObserver. Speaking on Sunday 3 August he said "The economic arguments are important, but the political arguments are decisive for me…