Monetary Policy
Fed Reserve Bank of Boston - Annual Report 2002
The Federal Reserve Bank of Boston has published its Annual Report for the year ended 2002. In the report President Cathy Minehan said information learned in 2002 through new Federal Reserve research that the use of checks is declining faster than had…
Macfarlane on prospects for the world economy
In his opening statement to House of Representatives I.J. Macfarlane of the Reserve Bank of Australia said the international environment has not yet improved in the way we had hoped, and the changing fortunes of the US dollar throw an additional…
RBNZ Monetary Policy Statement, June 2003
The Reserve Bank of New Zealand has published its Monetary Policy Statement (MPS) for June 2003. New Zealand's economic growth has been strong and comparatively stable for an extended period, but it is now slowing to a more modest pace, the report said…
European Parliament response to UK euro decision
Christa Randzio-Plath, Chair of the European Parliament's Committee of Economic and Monetary Affairs, called the UK's decision on the euro politically motivated and said it was "unimaginable" for the UK to remain outside the single currency indefinately.
Solomon Is's Hou cites govt interference
Rick Hou, the soon to depart governor of the central bank of the Solomon Islands, has suggested it might be difficult to find a candidate to replace him as government interference may put people off from the job, according to Radio Australia
Bundesbank cuts growth forecast
The Bundesbank has cut its growth forecast for 2003 to between 0.1 and 0.2 per cent, down from 0.5 per cent, Reuters reports. The move follows weak growth for the first three months of this year.
Bulgaria parliament to name new central bank chief
Bulgaria's parliament was due to name the new governor of the national bank of Bulgaria on Tuesday with criticism made that the choice may be politically motivated, according to BG News.
Bank of Estonia Council may see new chair
Political party Res Publica has said it does not support Mart Sorg for a second term as chairman of the supervisory council of the Bank of Estonia, according to the Baltic News Service.
Joseph Stiglitz - Big lies about central banking
Central banks make decisions that affect every aspect of society, including rates of economic growth and unemployment, but because there are tradeoffs, these decisions can only be made as part of a political process, writes Joseph Stiglitz in the Taipei…
Interview with central bank governor: Yves Mersch
In an interview with Reuters, Yves Mersch of the central bank of Luxembourg said he hopes for a "euroisation" effect with the opening up of EU markets because of the single currency.
Brazil's Meirelles reiterates 8.5% inflation goal
Interest rates "may ease" in Brazil if inflation falls by half, central bank president Henrique Meirelles told journalists after speaking at a seminar in Seville, southern Spain, reports Bloomberg
ECB press conference on Governing Council mtg
At the ECB's post-meeting press conference Thursday Wim Duisenberg said the Governing Council had decided the outlook for price stability over the medium term has improved significantly since the last decision to lower interest rates in March, and as a…
Sweden's Riksbank cuts rates by 0.5%
The Sveriges Riksbank announced on Friday June 6 that it was reducing its repo rate from 3.5 per cent to 3.0 per cent based on the picture of future inflation presented in its Inflation Report and no clear indication of a strengthening in economic…
Sveriges Riksbank Inflation Report, No.2, 2003
Sweden's central bank published its Second Inflation Report for 2003 on 5 June. In the report the Riksbank said CPI inflation is expected to be 1.2 per cent one year ahead and 1.8 per cent two years ahead while the degree of uncertainty in the…
Stewart to be acting CEO of NY Fed
The Federal Reserve Bank of New York said on Thursday 5 June that Jamie B. Stewart will act as chief executive officer of the bank as of June 11, while the search for the new president continues. He will also serve as a voting member of the Federal Open…
Book published on ECB's 2nd conference
The European Central Bank (ECB) has published a book entitled "The transformation of the European financial system", containing the proceedings (papers, discussants' comments and summaries of the general discussions) of the Second ECB Central Banking…
Solomon Islands cb chief won't stand for 3rd term
Ric Hou, the governor of the Solomon Islands central bank has said he will not stand for a third term. He called on his successor to ensure the central bank remains independent of government interference.
Working group meets on Russia, Belarus currency
Russia's president Putin met his finance minister on Monday 9 June to discuss the introduction from 2005 of the Russian rouble to Belarus as a single payment unit, according to a report by Pravda.
U.K. Euro Decision: Assessment and Analysis Guide
A report published on Monday 9 June by Bloomberg News provides a concise guide to the UK decision on the euro. It lists the five tests and the 18 separate studies used in the decision process as to whether to call a referendum on adopting the euro in the…
BOJ's Fukui may detail plan to buy corporate debt
Governor of the Bank of Japan Toshihiko Fukui is likely to spell out this week details of a plan to buy corporate debt to make it easier for companies to borrow, according to Bloomberg News.
RBA chief Macfarlane denies conflict with gov't
Reserve Bank of Australia governor Ian Macfarlane said on Sunday 8 June that although there may be differences of opinion between the Treasury and the Bank's board there was no conflict between the RBA and the government, according to The Australian.
UK 'should join euro' when economics are right
The UK chancellor Gordon Brown confirmed on Monday 9 June that only one of the five economic tests had been passed for Britain's entry to the euro. He also set out measures that would increase economic convergence between the UK and eurozone saying he…
More dynamic BOJ sees off media critics
Senior BOJ staff professes themselves pleased with the public relations impact of the more active communications strategy followed since Toshihiko Fukui took over from Hayami-san as governor in March. "Even Yomiuri Shimbun has stopped criticizing us,"…
Danish central bank cuts rates to 2.15%
The Danish central bank has again mirrored the ECB's half point rate cut yesterday by also cutting rates half a percent to 2.15%, according to a Bloomberg report. This is its lowest level in almost two centuries.