Monetary Policy
Norges Bank introduces new anti-counterfeit note
On 25 March, Norges Bank put a new version of the 100-krone note into circulation, designed to safeguard against counterfeiting.
ECB's Issing on eurozone growth
In testimony to the European Parliament Otmar Issing of the ECB said eurozone economic growth is expected to be only moderate this year, and inflation is forecast to fall below 2%, although developments continue to be overshadowed by the war in Iraq. He…
Duisenberg may be asked to stay on at ECB
Wim Duisenberg may be asked to stay on as president of the European Central Bank for a further year to prevent France losing face if a French candidate is not available to take up the job, according to a report by Expatica News.
Iraq cb governor's complaints re Iraqi funds
A report from the BBC claims that Iraqi TV has broadcast an interview with the governor of the Central Bank of Iraq, Issam Rashid Hwaish, in which he accused the US authorities of "an act of piracy" by seeking to take over Iraqi funds which had already…
RBA's McKibbin sees long slowdown
The U.S.-led war in Iraq will drain the world economy for years to come, sapping income from a wide range of countries, Australian central bank board member Warwick McKibbin has said, it is reported by Reuters
Bank Negara: Equal emphasis on supply-side
Publishing its annual report for 2002, the central bank of Malaysia said the conduct of monetary policy would focus primarily on ensuring favourable conditions on cost, market liquidity and accessibility, the Edge Daily reports
Economic Consequences of The Iraq War
In this article David Hale looks at the economic consequences of the war in Iraq. He says that although markets will rally on positive news of the conflict, in the longer term how the US deals with large fiscal deficits and unprecedented current account…
Bundesbank publishes Annual Accounts for 2002
The Bundesbank published its results for 2002 on Wednesday revealing income of €7 billion. Realised gains from financial operations was €2.1 billion. €0.6 billion accrued from the distribution of profits by the ECB.
BoE governor on inflation
In a speech Edward George, governor of the Bank of England, said although risks exist he thinks that the most likely outcome is that we will see a gradual pick-up in the pace of global recovery over the next year or two. He said inflation may well rise…
FOMC minutes of Jan 2003 meeting
The Federal Reserve on 20 March released the minutes of its FOMC meeting of 28-29 January, 2003 The minutes show difficulties predicting how the wobbly U.S. economy would hold up during a war with Iraq troubled Federal Reserve policy-makers at their…
Kohn on inflation targeting in the US
In a speech on 'Comments on Marvin Goodfriend's "Inflation Targeting in the United States?"' Donald Kohn of the Federal Reserve said the Fed has not engaged in implicit inflation-targeting by saying it supports "long-run price stability". He also said…
Philadelphia Fed Business Outlook Survey, Mar 2003
Activity in the region's manufacturing sector weakened in March, according to firms surveyed for March's Business Outlook Survey. This represents a deterioration from the basically flat performance in February. Indexes for general activity and new orders…
Bank of Japan Monetary Policy Meeting, 25 March
Details of the Bank of Japan's emergency monetary policy meeting held on 25 March.
Bernanke advocates more Fed transparency
Ben Bernanke said in a speech on Tuesday 25 March that the Federal Reserve could benefit from setting an inflation target. An explicit inflation goal was in his view the best way for the Fed to achieve stable prices.
BoJ calls emergency meeting on Iraq
The Bank of Japan held an emergency meeting on Tuesday 25 March to discuss what effect war in Iraq might have on the Japanese economy, according to a report by Associated Press. The bank also announced that it would increase its purchase of commercial…
Fed's Kohn: No need for Fed to target inflation
In apparent contrast to Ben Bernanke's comments Donald Kohn said in a speech released Monday March 24 and reported by Reuters that he was sceptical that for the United States the potential benefits of changing to a regime of inflation targeting would…
Irish central bank- Euro economies underperforming
The governor of the Central Bank of Ireland, John Hurley, has described the current period as a time of exceptional uncertainty in the world economy. In a speech delivered in Dublin and reported by Dow Jones Newswires, he said the outlook for global…
ECB's Issing sees continued euro volatility
Otmar Issing of the ECB said on Tuesday March 25 that continued uncertainty would have an impact on the euro exchange rate, according to an Online report. He also said the euro is a candidate for a strong international role. But that we should not forget…
Fed's Guynn: Uncertainty a barrier to recovery
Atlanta Fed chief Jack Guynn said on Monday 24 that uncertainty over the war in Iraq, terrorism and oil prices would hinder recovery but that he expects a modest upturn in the economy later this year, according to a Dow Jones report.
Robert Gerard appointed to RBA board
Businessman and long-time Liberal Party supporter Robert Gerard has been appointed to the board of the Reserve Bank of Australia. according to a report in The Age The move drew immediate criticism from the Opposition. Gerard said his experiencing in…
CentralBankNet Monday Special Feature
SPECIAL FEATURE - Ernesto Savona, professor of law and criminology at the Catholic University of Sacro Cuore of Milan, recently gave an exclusive interview to The Financial Regulator journal. In the interview he said that a political decision to stamp…
BoJ calls ad hoc monetary policy meeting
The Bank of Japan has called an ad hoc monetary policy meeting for Tuesday, March 25, to review the prevailing severe economic and financial conditions including the effect of military action against Iraq and consider necessary steps with respect to…
William White on international financial crises
BIS economic adviser William White gave a speech at a conference in Berne on the prevention, management and resolution of international financial crises, concluding that the troubling degree of instability in the global financial system is such that…
Death of Governor of Central Bank of Iran
The governor of Iran's central bank, Mohsen Nourbakhsh, died of a heart attack in Tehran on Sunday 23 March, Irna, Iran's offical news agency, reported yesterday.