Monetary Policy
ECB: no requests for Duisenberg to stay
Contrary to some reports the ECB has said it has no knowledge of any official request to Wim Duisenberg for him to stay on as president, according to Reuters.
Another term as governor for RBA's Macfarlane?
The Australian Treasurer, Peter Costello, speaking on Sunday 30 March intensified speculation that Ian Macfarlane would be given a second seven-year term as governor of the RBA saying he has obviously discharged his duties 'very finely', according to a…
Chicago Fed National Activity Index, February 2003
CFNAI Shows Economic Growth Slowed in February - In February, the Chicago Fed National Activity Index (CFNAI) fell below zero again after briefly turning positive in January. The monthly index came in at -0.62 in February, following January's upward…
Reserve Bank of New Zealand Bulletin, March 03
The Reserve Bank of New Zealand published its quarterly Bulletin for March 2003 on 28 March. The latest issue contains five articles covering a broad range of central banking issues. Articles include 'The output gap and its role in monetary policy…
Should central banks buy wider range of assets?
An article in the Financial Times on March 28 asks the question many have recently posed. Have central banks run out of ammunition? The fire power in question is of course interest rates as a monetary policy tool. Rates have hit the floor in Japan and…
Battle over Brazil central bank's autonomy
A battle may develop over the central bank of Brazil's moves towards independence, according to a report by United Press International. The party of President Lula is trying to push through a bill in support of central bank autonomy. But about half the…
National Bank of Serbia inflation at 3 yr low
Serbia's central bank has reported that monthly inflation was at a three year low of 0.3 percent and that the annual rate was well within its projection.
Venezuela's Chavez pushes central bank to cut rate
Venezuela's central bank has apparently been threatened with court action by the president of the country over its reluctance to cut interest rates, according to a Reuters report. The government is struggling to revive the recession-bound economy which…
IMF condolences over death of Iranian cb governor
Horst Kohler, the managing director of the IMF, has sent a message to Iran's president expressing his sorrow over the sudden death of the governor of the central bank of Iran, Mohsen Nurbakhsh, reports the IRNA news agency
ECB's Papademos praises Ireland's economy
In a speech made in Dublin and reported by RTE News, the ECB's vice president, Lucas Papademos, said the Irish economy was a good example to others. He also outlined and defended the ECB's proposed new three-tier rotating voting system.
US seizes $1.62bn in Iraqi assets
The US has seized $1.62 billion in Iraqi assets and will use the money to rebuild the country once the conflict has ended, reports Associated Press
CentralBankNet Monday Special Feature
SPECIAL FEATURE - In an exclusive interview with CentralBankNet.com, Professor Fatih Ozatay, the vice-governor of the Central Bank of the Republic of Turkey, explains how the war in Iraq is affecting the central bank, and what it is doing to mitigate…
Bergstrom: Driving forces behind EMU
Deputy Governor of the Sveriges Riksbank Villy Bergstrom gave speeches on Thursday at a seminar for trade union representatives in Brunnsvik and at a meeting organised by the Study Promotion Association and JAK Bank in Orsa on the political and economic…
Guynn on the U.S. Economy: Where Are We Now?
In a speech on 'The U.S. Economy: Where Are We Now?' Jack Guynn of the Federal Reserve Bank of Atlanta said once we move beyond the uncertainty of war, the economy is poised for a pretty solid recovery. This time next year, he said, the recovery will be…
Treasury statement on the RBA Board appointment
Statement by Peter Costello, Treasurer of Australia on the appointment of Robert Gerard to the Board of the Reserve Bank of Australia, 25 March.
St Louis Fed Central Banker, Spring 2003
The Spring 2003 edition of the St. Louis Fed's Central Banker magazine has been published. The issue carries a report on the regional partnership being set up by the Cleveland and St.Louis Fed banks. There is also a feature on the condition of the…
Bush meets Fed chief to indicate priorities
Fed chairman Alan Greenspan met with George Bush earlier this week to brief the US president on the state of the US economy, according to a report in the Financial Post. The meeting came as Mr Bush prepared to ask Congress for at least US$70-billion to…
ECB April rate move unlikely - Welteke
A rate cut is not on the cards, at the moment at least, said Bundesbank chief Ernst Welteke on Wednesday. With the economic impact of the war still far from certain he said it made no sense to take any sort of action, according to a Reuters report.
Bank of Canada appoints Desjardins to its Board
The Bank of Canada has appointed Jean-Guy Desjardins to its Board, according to the Financial Post. He will take up the position immediately.
Interview with Costa Rica's central bank chief
In an interview reported by Reuters, Costa Rica's central bank president Francisco de Paula Gutierrez said that cutting the country's fiscal deficit was a challenge, but he said he expected Costa Rica would meet a government deficit target of 3 percent…
ABM lauds Bank Negara monetary measures
Malaysia's Association of Banks has praised measures set out by the central bank governor in the 2002 Annual Report. It said the steps would help maintain growth and support business activity.
IMF Global Financial Stability Report, March 2003
The International Monetary Fund published on 27 March its Global Financial Stability Report, the semiannual assessments of global financial markets. In the report the IM warned that a prolonged war in Iraq could hit global financial markets hard. The…
Bernanke - Perspective on inflation targeting
In a speech on 'A Perspective on Inflation Targeting' Ben Bernanke of the Federal Reserve said adoption of an explicit inflation goal was in his view the best way for the Fed to achieve its goals of stable prices and maximum sustainable growth. He added,…
ECB on reproduction and exchange of euro notes
New rules on the reproduction and exchange of euro banknotes have been issued by the ECB on 25 March 2003.