Monetary Policy

Bank of Japan targets deflation

JAPAN - Japan's central bank is ready to consider further steps to bolster the country's troubled economy, with an inflation target now a possibility, according to top finance officials.

Back to Bretton Woods

UK - The anti-globalisation protesters have a point, argues Felix Rohatyn a former US ambassador to France, in the London edition of the Financial Times, 20 August. It is time to reform the IMF and World Bank, he says.

Macroeconomic risks of euro currency changeover

RESEARCH - A recent report, EMU Watch, from the Deutsche Bank looks at macroeconomic risks related to the final steps of the euro changeover 2001/02. The report looks at two main risks, macroeconomic demand and price risks, the other of dangers related…

Thailand rejects IMF interest rate advice

THAILAND - Prime Minister Thaksin Shinawatra on 17 August rebuffed an IMF suggestion that Thailand should not rule out cutting interest rates, saying rates were already low enough despite the need to boost the faltering economy.

Cavallo aide pleads for patience on IMF

ARGENTINA - Market expectations on the speed of talks between Argentina and the International Monetary Fund on an expected multibillion-dollar aid package are "a bit exaggerated," an aide to Economy Minister Domingo Cavallo told local radio on 16 August.

Keynes lives

ARTICLE - Today's monetary policy is increasingly used as a Keynesian-style tool of demand management believes Robert Skidelsky, Professor of Political Economy at Warwick University in the UK.

Polish central bank head calls for fiscal reform

POLAND - Leszek Balcerowicz, president of the National Bank of Poland, stressed in a speech made on 10 August to the Polish parliament that tight monetary policy in 2000 had done the most to shelter Poland from worse macroeconomic disturbances that could…

Anti-globalisation protest IMF/World Bank meeting

US - Nationwide planning by anti-globalisation protesters from across the US is intensifying and becoming increasingly sophisticated in advance of next month's meetings in Washington of the World Bank and International Monetary Fund, reports the…

Tinkering with currency can't solve economic woes

ARTICLE - John Devine, chief financial officer at General Motors Corp., last week was the latest in a string of corporate executives complaining about the strength of the U.S. dollar. His timing wasn't perfect. The dollar has actually softened relative…

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