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Monetary Policy

Survey of Professional Forecasters

SURVEY - The Federal Reserve Bank of Philadelphia has published its Survey of Professional Forecasters for the Third Quarter 2002. The U.S. economy is expected to grow in each of the next five quarters, but growth rates will likely be lower than those…

Belarus to abide by union in currency proposal

BELARUS - Belarusian President Alyaksandr Lukashenka on Monday received the chairman of the National Bank of Belarus, Pyotr Prakapovich, with a report. The main topic of the report was fulfilment of forecast indicators of the main guidelines for monetary…

RBA Annual Report shows net profit down $1bn

AUSTRALIA - The Reserve Bank of Australia's net profit slumped more than $1 billion in 2001/02 after falls in earnings from its interest and foreign investment portfolio. The figure was revealed as the Bank published its 2002 Annual Report on Wednesday.

Poland: Fin Min, central bank want fast euro entry

POLAND - A joint finance ministry and Polish National Bank team that is preparing an exchange rate strategy before Poland's entry to the European Union, agreed that Poland should join the euro zone as a matter of urgency, Deputy Finance Minister Ryszard…

Fraga says meeting with int'l bankers a success

BRAZIL - Brazilian central bank chairman Arminio Fraga said his meeting with international bankers in New York Monday was successful, Brazilian daily O Globo reported. Finance minister Pedro Malan was also present and said Brazil is prepared to honour…

Speech by William Poole, St Louis Fed Bank, 26 Aug

SPEECH - In the speech titled 'Taking Stock: the State of the Business Recovery' Poole said it was unlikely the US economy would slip back into recession, noting that a "double-dip" recession has only occurred once since WW2. He credited strategies by…

Interest rates unlikely to fall soon, Mboweni

SOUTH AFRICA - South Africans should not expect a drop in interest rates for the remainder of the year, Reserve Bank governor Tito Mboweni said on Tuesday. He also said he opposed the government's plans for a single banking regulator, and believed that…

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