Monetary Policy
Reserve Bank of New Zealand News Release
NEWS RELEASE - Reserve Bank pauses, OCR held at 5.75 per cent, 14 August.
Profiles of Bank of Japan Policy Board members
ARTICLE - The Bank of Japan's Policy Board discussed side effects of its huge fund injection to the money market at its 26 June meeting but concluded that the struggling economy needed the easy monetary policy, minutes showed on Wednesday.
'Cloud' prompts N.Z. to leave rates on hold
NEW ZEALAND - New Zealand left its official cash rate unchanged at 5.75 percent Wednesday, citing the global economy's "increasingly clouded" prospects.
MPC voted unanimously to hold UK rates
UK - The Bank of England's Monetary Policy Committee discussed the case for a cut in interest rates at its August meeting, according to the minutes of its meeting published on Wednesday.
Rates held steady by Fed but easing hints given
US - The Federal Reserve on Tuesday left its key short-term interest rate unchanged but signalled concern about turbulent financial markets and hinted at a possible future easing of monetary policy.
IMF Working Paper Series
RESEARCH - Internal Models-Based Capital Regulation and Bank Risk-Taking Incentives by Paul H Kupiec, Monetary and Exchange Affairs Department, IMF, July 2002.
Economic and Financial Policy Review, Vol 1, No 2
PUBLICATION - 'Banks Venture into New Territory' by Kenneth J. Robinson, Senior Economist and Policy Advisor, Federal Reserve Bank of Dallas, Volume 1, Number 2, 2002.
Bank of Japan Monthly Report, August 2002
REPORT - The Bank of Japan published its Monthly Report of Recent Economic and Financial Developments, August 2002, on 13 August. In its report the Bank of Japan said the outlook for exports had become more uncertain due to unstable global stock markets…
MAS Press Release
PRESS RELEASE - MAS Seeks Public Comment on Guidelines for Retail Hedge Funds, 13 August.
The role of the Deutsche Bundesbank
RESEARCH - 'The role of the Deutsche Bundesbank in the European System of Central Banks' by Hermann Remsperger, Deutsche Bundesbank, Accepted 1 February 2002.
Stagnation warning from Poland's central bank
POLAND - GDP increases and the business climate will remain low in the third quarter of the year while economic growth will be buoyed by exports, the Polish National Bank said in a business climate research report released on Tuesday.
NZ business leaders happy with inflation policy
NEW ZEALAND - Most of the country's top business people see no need to alter the way the Reserve Bank administers monetary policy.
India's central bank may face terrorist threat
INDIA - Amid threats from Pakistan-based militant outfits, the toughest-ever security arrangements are being put in place to ensure a trouble-free Independence Day in India.
Liberalising our exchange controls
ARTICLE - At the recently-held public/private sector consultation on economic and related issues, Governor of the Central Bank of Barbados, Dr. Marion Williams presented a paper on Barbados' response to the liberalisation of trade in financial services.
Surprise rise for UK inflation seen
UK - UK inflation has risen higher than expected, casting doubt on the need for another interest rate cut.
Crunch time for US economy as Fed ponder rate move
US - An indicator of US economic health will come today, as the Federal Reserve is due to announce its latest monthly interest rate decision.
A shroud of secrecy
A new survey by Steve Hanke and Matt Sekerke suggests that while central banks pay lip service to transparency, many of them do not practice it.
The Euro 50 Group Roundtable: Monetary implications of accession
Hanna Gronkiewicz-Waltz discusses challenges to monetary policy that central banks in candidate countries will face. Governments should be wary of too early an entry.
The Euro 50 Group Roundtable: The pact's performance and prospects
Pedro Solbes, a member of the European Commission, discusses the performance of, and prospects for, the stability and growth pact.
The Euro 50 Group Roundtable: The monetary dimension of European enlargement
Introduction by Edmond Alphandéry, former French finance minister and chairman of the Euro 50 group1.
Establishing the credibility of inflation targets
Jannie Rossouw argues that inflation targetting alone is insufficient. Belief in the credibility of the inflation measure itself is essential for a successful policy.
Interview: Milton Friedman
Milton Friedman assesses the monetarist legacy and the recent performance of central banks. In conversation with Robert Pringle, the Nobel laureate offers his advice for those thinking of joining the euro, or trying to deal with deflation.
Bank of Japan Monetary Policy Meeting
PRESS RELEASE - Monetary Policy Decision from the Bank of Japan, 9 August. The Bank unanimously decided to maintain its current stance but was ready to react with increased liquidity if the stability of financial markets was at risk.