Monetary Policy
ECB's Issing-price risks more balanced, not gone
European Central Bank Chief Economist Otmar Issing reiterated on Feb 21 that while price risk in the euro zone were increasingly balanced some threats to price stability still lingered on.
MAS Quarterly Report on Financial Markets- Feb 01
The Monetay Authority of Singapore has just published on Feb 21, 2001 its Quarterly Report on Financial Markets.
Lithuanian govt backs draft bill for litas repeg
The Lithuanian government on Feb 21, 2001 approved and sent to parliament an amendment aimed at clearing the way for a shift in the litas currency's peg to the euro from the dollar with no devaluation, officials said.
Belarus agrees on IMF terms to launch monitoring
Belarus accepts the terms of the International Monetary Fund that require implementation of a monitoring program, the Belarus premier Vladimir Yermoshin told journalists on Feb 21, 2001.
Mexico inflation views to dip on Feb data-Ortiz
When economists receive data on Mexican inflation for the month of February 2001 they will move to trim their forecast for the country's inflation for the full year 2001, the country's central bank chief said on Feb 21, 2001.
Fed's Parry sees U.S. rebound after rough patch
The U.S. economy may hit a rough patch in the next few months but should rebound to a modest growth rate by year-end, Federal Reserve Bank of San Francisco President Robert Parry said on Feb 21, 2001.
CBN Sanusi warns against repeating past mistakes
Nigeria's central bank governor, Joseph Sanusi, has warned against the growing clamour for a draw-down of the Excess Crude Reserve Account by state and local governments.
Indonesian Wahid's advisers say rethink c.bank law
Prominent foreign advisers to Indonesia's embattled president, including ex-Fed chairman Paul Volcker, urged him to stick with the IMF and to drop current proposals to revamp the central bank law which have become a nasty thorn in relations with the Fund.
Cbanks should be pre-emptive - Fed's Gramlich
U.S. Federal Reserve Governor Edward Gramlich said on Feb 20, 2001 central banks had to move preemptively given the time it took for their actions to feed through to the economy. He advocated the use of forward-looking, flexible, inflation targetting as…
India economy can grow at least 8 pct per yr-RBI
India's central bank chief said on Feb 20, 2001 said he was confident the country could post annual growth of at least eight percent in the medium term. He added the economy was resilient enough to handle external and internal shocks such as last month's…
Turkish cbank governor-no reason to devalue lira
Turkey has no reason to devalue its currency, as the central bank is firmly keeping monetary aggregates in line with the IMF-backed anti-inflation program, central bank Governor Gazi Ercel told the CNN Turk TV channel on Feb 19, 2001.
N Korea to take Chinese approach to development
Lim Dong-won, director of North Korea's National Intelligence Service said on Feb 20 that the communist government would pursue a Chinese-style policy of separating politics from economy to introduce a market economy, while maintaining the socialist…
Welteke - upside price risk diminished,not faded
Upside risks to price stability in the euro zone have diminished but the all-clear can't be given yet, Deutsche Bundesbank President Ernst Welteke said on Feb 20.
Turkish market opens 4.95 quadrillion lira short
The Turkish market opened a massive 4.95 quadrillion lira ($7 billion) short after banks rushed to foreign on Feb 19 draining nearly one fifth of the country's international reserves due to a row between the government and the president.
Nicaragua agrees with IMF to lower public spending
Nicaragua's government agreed with the International Monetary Fund to cut public spending as a step toward both financial stability and debt relief, the president of the Central American nation's Central Bank said on Feb 20.
Canada's Dodge upbeat on economy in first speech
Nortel Networks Corp, long the darling of the Canadian equities market, may have been grounded but it is unlikely that one company will drag down the rest of the economy, Bank of Canada Governor David Dodge said on Feb 20.
BoE pressed to publish dissent on forecasts
Pressure is mounting on the Bank of England to make its inflation forecasts more transparent despite recent attempts by the central bank to make public the divergent views of its policymakers. The Bank's quarterly inflation forecast is closely watched by…
Monetary Policy in a Cashless Society-P. de Grauwe
Paul De Grauwe and Claudia Costa have published in association with the Centre for Economic and Policy Research a discussion paper titled "Monetary Policy in a Cashless Society". Their main conclusion is that the central bank will lose its traditional…
Chile economy posts lowest growth of 2000 in Dec
Chile's economy expanded 2.4 percent in December 2000 from the year before, posting its lowest monthly growth in 2000, the central bank said on Feb 19, 2001.
Trichet confident consumers will buoy French econ
In an interview on national radio, Bank of France governor Jean-Claude Trichet painted an upbeat picture of the French economy Feb 19, insisting strong domestic demand and robust consumer spending will help protect it from a slowing U.S.
Greek cbank warns of inflationary pressures-paper
Greece's central bank believes the government's target of average 2.3 percent inflation in 2001 may be beyond reach if inflationary pressures in the domestic economy are not reined in, Greek newspaper To Vima reported on Feb 18, 2001. Citing sources, To…
Fraga says Brazil's economy is not overheating-pap
Brazil is not growing beyond its means, Central Bank President Arminio Fraga said in an interview published on Feb 18, 2001, just days after Latin America's biggest economy posted its fastest growth rate in five years. Official data released on Feb 14…
Bank of Uganda Mutebile warns on statistics
Uganda's central bank governor, Emmanuel Tumusiime Mutebile, has warned politicians against interfering with the compilation of statistics. He said independence of the Uganda Bureau of Statistics (UBOS) is the only way correct indicators of the economy…
ECB'S Welteke assumes U.S. still wants strong dlr
European Central Bank council member Ernst Welteke said on Feb 17, 2001 that he could imagine the United States would remain interested in a strong dollar, according to a spokesman for the central banker. Welteke said a strong dollar policy would help…