Monetary Policy
Australia leaves interest rates unchanged
AUSTRALIA - Australia's central bank has opted to keep its interest rates unchanged on Wednesday despite the US Federal Reserve cutting its key overnight rates by 50 basis points to its lowest level in 40 years.
Federal Reserve Press Release
PRESS RELEASE - Monetary policy decisions by the Federal Reserve Board, 6 November.
Bank of Canada Review Autumn 2001
RESEARCH - A New Measure of Core Inflation by Tiff Macklem. Short summary.
Duisenberg gives green light for ECB rate cut
EUROPE - European Central Bank President Wim Duisenberg appeared Monday to give the green light for an interest rate cut this week as euro-zone finance officials sounded a cautious note about the economic outlook for the 12-member bloc.
Australian economy stronger than US - Costello
AUSTRALIA - Australian Treasurer Peter Costello said Wednesday that a decision by the Reserve Bank to keep interest rates steady after its board meeting Tuesday isn't surprising given the country is in the midst of an election campaign.
Speech by John Townend, Director for Europe
SPEECH - Speech by John Townend, Director for Europe at a British Bankers' Association Conference, London on 5 November.
Speech by Joseph Yam, Chief Executive of the HKMA
SPEECH - Speech by Joseph Yam, JP, Chief Executive, Hong Kong Monetary Authority, 5 November. Briefing to the Legislative Council Panel on Financial Affairs.
Fed expected to cut rates by another half-point
US - The US Federal Reserve is poised to cut interest rates today for the tenth time this year, extending its most aggressive rate-cutting campaign in recent history amid yet more evidence of proliferating weakness in the world's economic power.
Asian nations agree free-trade zone
ASIA - South East Asian nations and China have agreed to set up the world's biggest free-trade area within 10 years.
Consumer spending falls in Japan
JAPAN - Japanese households spent less in September in spite of falling prices and government attempts to boost consumer spending, official figures show.
Chicago Fed National Activity Index
REPORT - The Chicago Fed National Activity Index (CFNAI) was virtually unchanged at -1.28 in September. The three-month moving average index (CFNAI-MA3) was -0.95 in September, marking the fifteenth consecutive month that the CFNAI-MA3 was below zero.
Eurozone inflation dip may smooth ECB move
EUROPE - Annual inflation in the eurozone dipped to 2.4 per cent last month from 2.5 per cent in September, according to a provisional estimate released Monday.
IMF cuts forecast for growth in France
FRANCE - The International Monetary Fund, blaming the effects of the September 11 terrorist attacks in the US, has cut its forecast for French economic growth next year to around 1.6 per cent from an earlier prediction of 2.1 per cent.
Speech by Hermann Remsperger of the Bundesbank
SPEECH - Speech by Professor Hermann Remsperger, Member of the Directorate of the Deutsche Bundesbank at the Summit of Financial Journalists in Frankfurt on 29 October.
Early euro vote for UK in doubt
UK - Chancellor of the Exchequer, in the UK, Gordon Brown poured cold water yesterday on expectations the British government was leaning toward holding a referendum on joining the European single currency during the current parliament.
BOJ Suda - Weak yen is remedy to stop price falls
JAPAN - Bank of Japan board member Miyako Suda said Monday she believes a weak yen is an appropriate remedy to stop Japan's price declines.
Buba Welteke - ECB rate policy no hinder to growth
GERMANY - The European Central Bank's interest rates aren't an obstacle to growth, long-term and real interest rates are low and the ECB must avoid letting long-term inflation expectations build up, Deutsche Bundesbank President Ernst Welteke repeated,…
Bank of Japan is pressured to take action
JAPAN - Japanese lawmakers tightened the screws on the Bank of Japan by advancing legislation that would force it to take more aggressive action to stimulate the world's second-largest economy.
Speech by UK Chancellor Gordon Brown
SPEECH - Speech by UK Chancellor of the Exchequer to the CBI annual conference dinner in Birmingham, England, 4 November.
Envisaged scenarios of the euro changeover
RESEARCH - Regular report of the European Central Bank on Envisaged scenarios of the euro area for the 2002 cash changeover as at 26 October.
Speech by Bundesbank President Ernst Welteke
SPEECH - Speech by Ernst Welteke, President of the Deutsche Bundesbank, at Danmarks Nationalbank in Copenhagen, 29 October.
Japan's fading economy
ARTICLE - Two years ago, at the height of the dot.com bubble, when there were already worries that the US boom would end in tears, it was argued that the world needed Japan to start growing again before the US stopped doing so. It didn't quite turn out…
Sweden's Riksbank - Members voted for same rates
SWEDEN - The executive board of Sweden's Riksbank voted unanimously to hold the central bank's key repo interest rate unchanged at its 15 October meeting, according to minutes of the meeting.
ECB Welteke sees euro zone recovery "rather soon"
DENMARK - Bundesbank President Ernst Welteke on Monday voiced cautious optimism that the euro zone economy would recover relatively soon and reiterated recent monetary developments did not pose an inflation risk.