Central Banks
Japan reports economy improving
Japan's economic recovery is "solid" but export growth is losing some steam, the government said in a monthly report released on Thursday 9 September. The Bank of Japan also released its latest monthly report Thursday which said the economy is on the…
Korean banknote redenomination 'not urgent'
Bank of Korea Governor Park Seung said on Thursday 9 September that changing the denominations or issuing higher-value banknotes is not an urgent issue. Currently, the largest denomination is a 10,000 won note, which is worth less than $10.
Slovenia targets inflation to adopt euro in 2007
Slovenia hopes to reduce annual inflation in 2005 to less than three per cent, clearing the way for the former Yugoslav state to enter the eurozone by the beginning of 2007, central bank governor Mitja Gaspari told a meeting of business leaders.
ECOWAS changes launch date for Eco
The governor of the Central Bank of Nigeria, Professor Charles Soludo, said on Wednesday 8 September that the launch date of ECO, the proposed West African common currency, would be extended beyond 1 July, 2005.
Phil Fed's Survey of Professional Forecasters
The Federal Reserve Bank of Philadelphia has published its Third Quarter 2004 Survey of Professional Forecasters. Growth over the second half of the year looks a bit slower now than it did three months ago, according to participants in the Survey. The…
St Louis Fed's Central Banker, Fall 2004
The Fall 2004 edition of the St. Louis Fed's Central Banker magazine has been published. The latest issue includes articles "Federal Reserve To Close More Check Processing Sites" and "Federal Reserve Takes a Lead Role in Supporting Check 21" which…
Bank of Canada raises interest rates 0.25%
The Bank of Canada announced on Wednesday 8 September that it would raise its key overnight interest rate by one-quarter of a percentage point to 2.25 per cent, a move widely expected by financial markets. In a press release the bank said with the…
Greenspan says US economy regaining some traction
In testimony to the U.S. House of Representatives on Wednesday 8 September, Federal Reserve Chairman Alan Greenspan said the economy has "regained some traction" following a late spring slowdown that was instigated by a sharp rise in oil prices.
Dallas Fed's McTeer confident on US economy
The dip in the U.S. economy in the second quarter was due largely to higher oil prices and the country has now moved on, Federal Reserve Bank of Dallas President Robert McTeer said on Tuesday 7 September.
NZ's Cullen apologises for interest rate 'slip'
Finance Minister Michael Cullen has apologised after saying that the Reserve Bank of New Zealand had raised its key interest rate "today" - the RBNZ is due to meet on Thursday 9 September to decide monetary policy.
PBOC's Zhou says rates on hold for now
The People's Bank of China will not consider changing the interest rates until August's statistics are released, according to PBOC Governor Zhou Xiaochuan.
Minutes from the Sveriges Riksbank Meeting, 19 Aug
Minutes of the Sveriges Riksbank Executive Board meeting on 19 August were published 2 September. One member observed that economic activity in Sweden had strengthened slightly more than expected during the first six months of the year, and that the…
Tumpel-Gugerell on the Single Euro Payments Area
In the speech 'Time to act: clear objectives and a convincing roadmap for the Single Euro Payments Area' given on 6 September, Gertrude Tumpel-Gugerell of the ECB said to achieve the Single Euro Payments Area, it's best for the European Payments Council…
Norway's Gjedrem on monetary policy and the krone
In a speech on 'Monetary policy and the krone exchange rate' given on 26 Augus,t Svein Gjedrem of Norges Bank said growth in the Norwegian economy is projected to pick up markedly this year and remain relatively high next year.
Almunia not expecting ECB objection to Pact change
EU economic and monetary affairs commissioner Joaquin Almunia has said the European Central Bank is not expected to oppose possible changes to the stability and growth pact.
EU budget plans would hurt ECB policy, says Buba
The Bundesbank said that the European Commission's intention to relax budget rules would damage the European Central Bank's ability to set interest rates in the eurozone, according to Bloomberg, which quoted an email.
France's Raffarin sees 2.5 % GDP growth in 2004
French Prime Minister Jean-Pierre Raffarin said he expects GDP growth of 2.5 per cent in 2004 and said that economic growth is sustainable.
IMF says flexible exchange rate best measure
The International Monetary Fund (IMF) has identified the free-floating exchange rate regime as the best measure against economic shock, according to a new study.
China plans gold futures trading
China aims to start gold futures trading in the near term, a move meant to add to the country's limited investment options amid soaring demand for the precious metal, state press reported on Tuesday 7 September.
PBOC's Tinghuan on China's real estate finance
In a speech on 'China's real estate finance and policy implications' given on 26 June. Liu Tinghuan of the People's Bank of China said China is in the historical stage of new industrialization, urbanization and building a moderately affluent society in…
Plenderleith: Something normal from South Africa
In the speech 'Always something normal from South Africa' given on 17 August Ian Plenderleith of the South African Reserve Bank said we can, and will, continue gradually to build up our official foreign exchange reserves to a respectable level in an…
Chicago Fed National Activity Index, July 2004
The Chicago Fed National Activity index rose to +0.35 in July from a downward-revised reading of -0.19 the previous month. Most of the increase in July's CFNAI resulted from a big swing in the contribution from production-related indicators, from -0.25…
Fed Reserve Bank of St Louis Review, Sep/Oct 2004
The latest edition of the St Louis Fed's Review for September-October 2004 includes the articles "Trends in the efficiency of Federal Reserve check processing operations" and "Testing the expectations hypothesis: Some new evidence for Japan" and …
US bank note experts to visit Taiwan
The Central Bank of China (CBC) has invited experts from the United States to help domestic banks dealing in foreign currency exchange to detect forged U.S. bills, CBC officials said on Monday 6 September.