Monetary Policy
Bank of England News Release
NEWS RELEASE - Bank Agency to be based in Exeter, 29 October.
Minutes from the Sveriges Riksbank Board meeting
MINUTES - Minutes of the Sveriges Riksbank Executive Board meeting on 16 October, published 30 October. Although the Executive Board voted to maintain the repo rate at 4.25 per cent the minutes reveal Deputy Governor Kristina Persson entered a…
Europe's best defence against deflation
ARTICLE - Many people are worried about deflation. Severe deflation, as in the early 1930s, is catastrophic; mild deflation, as in Japan today, could become self-reinforcing. There are, moreover, similarities between early 1990s Japan and parts of Europe…
The Fed should cut next week
ARTICLE - The US economy is growing around trend, unemployment is at its lowest post-recession peak for decades, the housing market is firing on all cylinders - and the financial markets are expecting the Federal Reserve to cut interest rates to a 40…
China to promote small loans to rural households
CHINA - A spokesman for the People's Bank of China (PBOC) said Monday that the central bank will adopt more effective measures to guide and promote rural credit cooperatives to grant small credit loans to rural households.
Mexico holds firm on inflation targets
MEXICO - Mexico's Central Bank president held firm on the country's inflation targets for this year and next, even as expectations of higher inflation and diminished growth mount.
Monetary Council of ECCB meets in Anguilla
ST KITTS - Member countries of the Eastern Caribbean Central Bank (ECCB) have recommitted themselves to maintaining the value of the exchange rate at 2.70 EC Eastern Caribbean dollars to the United States dollar.
Swedes could reject euro, says union body
SWEDEN - The head of Sweden's powerful blue collar labour organisation has warned that Swedes could reject membership of the euro unless the government takes special measures to protect the country's cherished welfare model.
Rand defence
ARTICLE - Tito Mboweni, South Africa's Reserve Bank governor, is taking the defence of his country's currency to new lengths. On Friday, Mboweni donned military regalia for his appointment as an honorary colonel of the 1st South African Tank Regiment.
Customs union a step towards GCC integration
OMAN - The GCC monetary union is a stepping-stone for "higher order of integration among member states," said Hamoud Sangour Al Zadjali, Central Bank of Oman executive president.
UAE c bank begins registering hawala operators
UAE - In a first step towards regulation of hawala, the UAE Central Bank has embarked on a registration and reporting system for hawaladars or brokers.
Bank of Greece set to improve transparency
GREECE - The Bank of Greece on Friday indicated that restrictions on consumer and personal loans could be lifted next year on condition that the current slowdown in credit growth continues at the same pace and a forthcoming study can prove that Greek…
Solomon c bank warns on fake Diana charity
SOLOMON ISLANDS - The Solomon Islands Central Bank has stepped up its campaign against the promoters of a get-rich-quick scheme that claims links with the late Princess Diana.
Ghana will play active part towards monetary union
GHANA - Vice President Aliu Mahama on Thursday said Ghana would fully support all activities toward the adoption of a monetary union for West Africa to facilitate trade and movement for the socio-economic benefit of the 250 million people in the Sub…
The art of central banking
An undergraduate wanting to know what central banking is all about would do far better talking with somebody like Ian Plenderleith than reading any economic textbook. Plenderleith gave the interview to Central Banking on retirement from the Bank of…
The conduct of monetary policy
This article presents the objectives, instruments and recent developments in SAMA’s operating framework of monetary policy.
Currency crises compared
John Chown looks at the lessons to be learned from responses to recent financial crises. They show that devaluation can work, and indeed generally does.
Single currency a stable solution
ARTICLE - A common currency would bring more security to everyone in the Asia-Pacific region an article in the Australian Financial Review, 27 September claimed.
Commission to assess benefits for UK's euro entry
ARTICLE - Eleven of the world's leading economists will serve on a new commission to consider the consequences for Britain's economy of a decision to reject membership of the euro.
Chicago Fed National Activity Index September 2002
REPORT - CFNAI Indicates Economic Growth Remained Slow in September - The Chicago Fed National Activity Index (CFNAI) remained below zero for a second month in September, coming in at -0.35 in September, up from -0.45 in August.
Moskow on the Economy and Free Trade
SPEECH - In the speech 'The Economy and Free Trade' made on 29 October, Michael Moskow of the Federal Reserve Bank of Chicago said during the last 20 years or so, we've deregulated financial markets, developed more flexible labor markets and made major…
Yugoslav central bank will not devalue dinar- gov
YUGOSLAVIA - The Yugoslav central bank is determined to keep the dinar exchange rate at its current level because any major change could seriously threaten reforms, Yugoslav central bank governor Mladjan Dinkic has said.
Brazil c bank sees 2003 inflation near 6 pct-COPOM
BRAZIL - Brazil's Central Bank sees 2003 inflation near its adjusted target of 6 percent, above its previous projection of about 5 percent, the minutes of its Oct. 22-23 rate-setting meeting reveal.
Czechs cut interest rates for fifth time this year
CZECH REPUBLIC - The Czech central bank yesterday cut interest rates for the fifth time this year in a new attempt to stimulate faltering domestic economic growth and slow the rapid appreciation of the Czech koruna.