Monetary Policy
ECB Press Release
PRESS RELEASE - Update on the euro cash changeover, 18 January 2002.
Bank of Japan Monthly Report January 2002
REPORT - Bank of Japan Monthly Report of Recent Economic and Financial Developments, January 2002.
Research Papers from the Bank of Japan
RESEARCH - Monetary and Economic Studies (2002) by the Bank of Japan Institute for Monetary and Economic Studies, 18 January 2002.
Fed's Parry: US recovery could happen in Q1 2002
US - San Francisco Federal Reserve President Robert Parry said on Wednesday that he expects the U.S. economy to be growing again by the second quarter of this year, and possibly earlier.
ECB - Over 90% of banknotes now replaced by euro
GERMANY - The amount of euro banknotes in circulation has reached more than 90% of the estimated number needed to replace the national banknotes circulating in the euro zone in 2001, the European Central Bank said Friday.
Swedish inflation above level needed for EMU entry
SWEDEN - Sweden's strong inflation rate is currently running at above the rate required for EMU entry, and January's rate risks being the highest since 1993, said Handelsbanken Research, adding that the central bank now has very little scope for rate…
Bank of Japan report spurs fear of new crisis
JAPAN - The Bank of Japan considers the state of the Japanese economy to be grim. In its monthly report on recent economic and financial developments, the central bank concluded that the economy was "deteriorating broadly".
European Commission predict eurozone rebound
EUROPE - The eurozone economy may have shrunk during the last three months of 2001, but it is due for a rapid rebound, the European Commission has calculated.
Mara Raubisko approved to Bank of Latvia board
LATVIA - The Bank of Latvia council today approved Mara Raubisko as chairwoman of the board at the Bank of Latvia, LETA was informed by the bank's press secretary Edzus Vejins.
China's new gold exchange delayed but not derailed
CHINA - China's plans to open a gold exchange in Shanghai early in 2002 are still intact but laws on important details, including whether to impose the value-added tax on exchange transactions, have yet to be issued, an exchange spokeswoman said on…
Speech by Federal Reserve Chairman Alan Greenspan
SPEECH - In the speech 'The history of money' Alan Greenspan praises central bankers' success in containing inflation during the past two decades and raises hopes that fiat money can be managed in a responsible way. This has been the case in the United…
Speech by Laurence Meyer of the Federal Reserve
SPEECH - This speech 'Rules and discretion' focuses specifically on how the study of rules can be helpful in informing discretionary policy decisions. Laurence Meyer's term at the Fed is due to finish at the end of January 2002.
Speech by Roger Ferguson of the Federal Reserve
SPEECH - In the speech Ferguson says that the U.S. economy should rebound from recession relatively soon but it is difficult to gauge how vigorous the bounceback will be.
Stamp of approval
ARTICLE - So just why has DeAnne Julius, the American former member of the Bank of England's monetary policy committee, taken out dual UK nationality? City types point darkly to a Bank of England connection.
Federal Reserve Board - Beige Book
REPORT - Prepared at the Federal Reserve Bank of Dallas and based on information collected before January 9, 2002. This document summarizes comments received from business and other contacts outside the Federal Reserve and is not a commentary on the…
Drachmas to euro, money exhibit opens at NY Fed
ARTICLE - The Federal Reserve is hoping that the power of money will lure visitors to a lower Manhattan exhibit at a time when other downtown museums are having trouble.
Argentine central bank chief Maccarone resigns
ARGENTINA - Argentina's central bank president, Roque Maccarone, criticised for his handling of government banking regulations, has resigned.
Let pounds and euros compete
ARTICLE - For well over a decade there has been a ceaseless political battle over whether Britain ought to join the euro. The introduction of euro notes and coins at the beginning of this year has raised the decibel level of the controversy but has not…
Germany on brink of recession
GERMANY - The German economy is teetering on the brink of official recession, officials have said, after figures showed growth in 2001 slowing to its lowest level for eight years.
Beige book says US econ weak but shows improvement
US - The US economy started the new year on a weak note, although some scattered signs of improvement emerged, the Federal Reserve Beige Book survey has said.
Russia cancels export duty on gold
RUSSIA - The Russian government issued a resolution on 14 January abolishing a 5% export duty on gold, said a government source.
Fed's Ferguson sees economic rebound
US - The US economy is likely to rebound "before too long" given the stimulative impact of Federal Reserve rate cuts and the natural dynamics of the economy, said Roger Ferguson, the vice chairman of the Federal Reserve Board.
Fed's Meyer - A little inflation better than none
US - Outgoing Federal Reserve Governor Laurence Meyer said on Wednesday that the U.S. central bank's commitment to price stability should not be taken as a goal to eliminate inflation entirely.
Currency Crises and Uncertainty About Fundamentals
WORKING PAPER - International Monetary Fund Working Paper by Alessandro Prati and Massimo Sbracia, Research Department, January 2002.