Monetary Policy
Wellink confident about global economy
NETHERLANDS - Dutch central bank president Nout Wellink believes the global economy is ripe for a recovery after a slowdown last year, although Japan's economy and the US current account deficit pose downside risks.
Rupee hits new low on war fears
INDIA - The rupee hit a new closing low against the dollar as war fears persisted and the Indian and Pakistani armies continued to trade fire across the border. The central bank did not intervene on Thursday.
BoJ may intervene again as yen continues to rise
JAPAN - The yen drifted higher in Asian trading Thursday, one day after the Bank of Japan intervened in the currency markets to stem the yen's surge. The central bank warns that it may step into the markets again to keep the yen from gaining too much…
S Korea economy strong but no rate rise says BoK
SOUTH KOREA - South Korea's economy roared ahead in the first quarter on soaring consumer demand, helping send its currency to 15-month highs, but Bank of Korea governor Park Seung ruled out any immediate policy moves to cool one of Asia's hottest…
Speech by Fed Reserve Governor Mark Olson, 21 May
SPEECH - Olson said in a speech titled 'A Look at the Banking Industry in 2002' that "We have just concluded more than ten years of economic prosperity, followed by slightly more than one year of recession - a recession that is now behind us," he also…
Press Release from Sweden's central bank
PRESS RELEASE - Governor Urban Backstrom resigns at year-end, 21 May.
Press Release from Sweden's central bank
PRESS RELEASE - Sven Hulterstrom comments on Urban Backstrom's decision, 21 May.
Bank of Japan Monthly Report May 2002
REPORT - Monthly Report of Recent Economic and Financial Developments from the Bank of Japan, May 2002, released 22 May.
Speech by Joseph Yam of the HKMA, 21 May
SPEECH - Opening Remarks by Mr Joseph Yam, Chief Executive, Hong Kong Monetary Authority, 21 May. HKMA Fifth Distinguished Lecture: "The Asian Crisis: Lessons for the Future".
Speech by Dr. Stanley Fischer at the HKMA, 21 May
SPEECH - Speech by Dr. Stanley Fischer, Vice Chairman, Citigroup, former First Deputy Managing Director of the International Monetary Fund, 21 May. HKMA Fifth Distinguished Lecture: The Asian Crisis: Lessons for the Future.
Speech by Dr Stephen Grenville at the HKMA, 21 May
SPEECH - Speech by Dr. Stephen Grenville, Adjunct Professor, National Centre for Development Studies at the Australian National University, Canberra, former Deputy Governor of the Reserve Bank of Australia, 21 May. HKMA Fifth Distinguished Lecture.
ECB Press Release
PRESS RELEASE - ECB Convergence Report 2002, released 22 May.
ECB Convergence Report 2002
REPORT - The European Central Bank (ECB) publishes today its Convergence Report 2002, which examines whether Sweden has achieved a high degree of sustainable convergence, as well as the compatibility of its national legislation with the Treaty…
Bank of England Monetary Policy Committee Minutes
MINUTES - Minutes from the Bank of England's MPC meeting 8 and 9 May, released 22 May.
Dutch bank warns budget controls needed
NETHERLANDS - The next Dutch government will have to impose budget curbs to keep state finances in surplus, the central bank warned on Wednesday.
Latent recovery fails to move Bank of Japan
JAPAN - The Bank of Japan announced a decision to leave monetary policy unchanged after a two-day Policy Board meeting which ended on Tuesday.
Swedish central bank governor resigns
SWEDEN - Sweden's central bank governor said Tuesday he will resign at the end of the year, two years before his term expires, as the Scandinavian country considers adopting Europe's common currency.
German economy grows slightly
GERMANY - Germany's economy grew slightly in the first quarter of 2002, pulling the country out of a mild recession, the country's central bank said Tuesday.
Bank of England hints at future rate rise
UK - May's decision by the Bank of England's Monetary Policy Committee (MPC) to leave interest rates unchanged at 4% was unanimous for the third month in a row, the latest minutes of the MPC's meeting have shown.
IMF mail 'positive for anthrax'
US - The International Monetary Fund (IMF) has said mail it received in Washington has tested positive for the anthrax bacteria. This comes less than a month after we reported an anthrax scare at the Federal Reserve.
Britons hoard £1bn cash
FEATURE - British households are sitting on an estimated £945m cash pile, according to a new survey - and much of it can be found under sofa cushions.
Sweden 'not ready' for euro - Report
SWEDEN - Sweden is not yet ready to join the euro because its currency is too unstable and the central bank not independent enough from the government, the European Commission has said.
Testimony of Fed Reserve's, Louise Roseman, 17 May
TESTIMONY - In testimony titled 'The golden dollar coin' to the Subcommittee on Treasury and General Government Roseman describes the Federal Reserve's role in coin distribution and its activities in supporting the golden dollar coin.
Bank of Japan Monetary Policy Meeting
PRESS RELEASE - At the Monetary Policy Meeting held today, 21 May, the Bank of Japan decided, by unanimous vote, to maintain the following guideline for money market operations for the intermeeting period: