Monetary Policy

BOJ board keeps monetary policy unchanged

The Bank of Japan said on Friday its policy board decided to continue its policy of driving the key overnight call rate to 0.25%, a decision widely expected by financial markets. The decision was by a majority vote.

Fed unlikely to cut rates - Washington Post

Faced with slowing economic growth and an uncertain short-term economic outlook, a number of Federal Reserve officials have concluded that the risk of serious weakness in the economy is as great as the risk that inflation will get worse, the Washington…

Dariusz Rosati defends Poland's monetary policy

Dariusz Rosati, former finance minister and member of the central bank's monetary policy council (RPP), responded in a recent issue of the current affairs weekly Polityka to a critical article by Professor Andrzej Sopocko. Edited excerpts follow.

HKMA concerned about US economic slowdown risk

The head of the Hong Kong Monetary Authority, one of the world's largest holders of foreign exchange, said he remained apprehensive about the risk of a downturn in the US economy, according to the Friday overseas edition of the Financial Times.

ECB keeps M3 benchmark unchanged

The European Central Bank has decided to leave its yardstick for euro area money supply growth unchanged. After the governing council meeting today, the ECB said that the evidence continues to support the assumptions underlying the derivation of the…

Interview with Nancy Stokey - The Region

Nancy Stokey and her University of Chicago colleague and partner, Nobel Laureate Robert E. Lucas Jr., chose to spend a semester's sabbatical at the Minneapolis Fed this autumn. Arthur Rolnick, the Minneapolis Fed's director of Research, took this…

Back From The Brink: The Greenspan Years

Journalist Steven Beckner, who has covered monetary policy since the beginning of the Greenspan years, has written a useful book that goes beyond the regular elliptical utterances of the Fed chairman. Reviewed by Kevin L. Kliesen, Economist, Federal…

Zimbabwe: Interest rates drop as inflation falls

This article is from Zimbabwe's Financial Gazette said that a surprise fall in Zimbabwe's inflation rate should be viewed a temporary. The subsequent reductions in interest rates by the central bank are therefore short-term, says the article.

SNB must guard against currency appreciation-OECD

The monetary policy of the Swiss National Bank is currently appropriate for domestic economic conditions, but the SNB must monitor the effect of European Central Bank rate policy on exchange rates and guard against too sharp a rise in the Swiss franc…

Duisenberg comments on Greek EMU entry

European Central Bank president Wim Duisenberg made the following comments at a news conference on Thursday concerning Greece's entry into the eurozone: "It is indeed an historic moment and a very satisfying and gratifying moment."

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