Monetary Policy

Litas to be pegged amid preparations for EU

Lithuania, while preparing for its membership in the European Union, plans to keep litas pegged to dollar and later to euro, the board of the Bank of Lithuania announced after discussing its participation in the processes of Lithuania's preparation for…

Friedman v. Mundell on exchange rates

Canada's Financial Post asked the two Nobel laureates Milton Friedman and Robert Mundell to participate in an exclusive e-mail debate about each other's views on modern day economics. Below we reprint the debate which was publish in the Financial Post on…

Nice EU Treaty needed for European Central Bank

As European Union leaders gather in Nice to reform the bloc's decision making processes in preparation for enlargement, one crucial item is absent from the agenda: the European Central Bank. A new paper by the Centre for Economic Policy Research says…

ECB head sees rosy future for euro

The president of the European Central Bank, Wim Duisenberg, has spoken about a turnaround in euro exchange rates for the first time, telling Japanese newspaper The Yomiuri Shimbun in an interview in Frankfurt that the European currency could keep rising.

No need to return to zero-rate policy - Miyazawa

Japanese finance minister Kiichi Miyazawa said Friday he does not think the Bank of Japan needs to restore its zero-interest-rate policy, although the economy needs to be watched carefully in the areas of personal consumption and employment.

CNB chief, deputy minister assess joining Eurozone

The date of the Czech Republic joining the European monetary union remains unclear. It depends on the speed of the Czech Republic moving closer to the EU, on political decisions and on the harmonisation of legal systems. This was stated by Czech National…

Riksbank hikes rates, policy stance to neutral

The Riksbank said that its 25 basis point hike that raised the repo rate to 4.0% Thursday was based on its new assessment that inflation would rise above the central bank's 2% limit in two year's time in the absence of tighter monetary policy.

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