Monetary Policy

Tokyo denies intention to depreciate yen

JAPAN - The Financial Times reported on Apr 17 that Japanese officials were attempting to deny rumours that Tokyo was trying to boost its flagging economy at the expense of other Asian exporters and the US by weakening the yen.

BoE MPC voted 6-3 to cut rates to 5.5%-minutes

UNITED KINGDOM - Six of the nine members of the Bank of England's Monetary Policy Committee voted to cut the repo rate to 5.5% from 5.75% during their last meeting on Apr. 4-5, according to minutes of that meeting released on Apr 18, 2001.

Swiss mon policy during 1970s-lessons for Japan

CENTRAL BANK RESEARCH - Peter Kugler from Basel University and Georg Rich from the Swiss National Bank have published a paper "Monetary Policy Under Low Interest Rates: The Experience of Switzerland in the late 1970s". Using evidence from Switzerland's…

Financial innovation and monetary transmission

CENTRAL BANK RESEARCH - On April 5-6, the Federal Reserve Bank of New York organized the conference "Financial Innovation and Monetary Transmission." The twelve papers presented at the conference cover many topics including the "announcement effect",…

Britain and EMU - the five economic tests

ARTICLE - GrahamBishop.com's latest publication on "Britain and Euroland" finds that the degree of divergence between Britain and key EU countries has already halved since the UK Treasury's 1997 assessment. So with a UK general election due in June 2001,…

BoJ Hayami unsure about duration of deflation

JAPAN - Bank of Japan Governor Masaru Hayami said on Apr 17, 2001 he could not say how long it would take for the core nationwide consumer price index to rise to near zero percent, which the central bank has set as a condition for changing its current…

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