Central Banks
BIS paper on management of interest rate risk
As part of its ongoing efforts to address international bank supervisory issues, the Basel Committee on Banking Supervision issued a paper on principles for the management of interest rate risk in September 1997. This revised version is being issued to…
Eastern Caribbean Central Bank- Annual Report 2003
In a speech on the 2003/04 Annual Report 'A broadbrush picture of the Eastern Caribbean Central Bank' given on 21 June K Dwight Venner of the Eastern Caribbean Central Bank said the year 2003/2004 was a very challenging, but productive year. The Bank…
Hildebrand on the new investment policy of the SNB
In a speech on 'The new investment policy of the Swiss National Bank' given on 17, June Philipp Hildebrand of the Swiss National Bank said the management of the monetary reserves has gained in importance. The National Bank Act requires the National Bank…
Issing says ECB must check inflation expectations
European Central Bank Chief Economist Otmar Issing said it's important for the bank to prevent expectations of inflation from rising excessively, the Nihon Keizai newspaper said, citing an interview with Issing.
Bank of France raises growth forecast
The Bank of France raised its forecast for growth in the second and third quarters as June retail sales surged, manufacturers lifted production, and executives' confidence was its highest in more than three years.
RBA says credit card reforms working
Shopkeepers stood to save $430 million a year from lower credit card costs after the Reserve Bank stepped in to regulate fees, the RBA said in its July Bulletin released Thursday.
Book - 'A term at the Fed' by Laurence H. Meyer
In his new book, A Term at the Fed: An Insider's View, Laurence Meyer displays a certain frankness in discussing his performance as a central-bank policymaker from 1996 to 2002, this book review says. He's candid about the mistakes he made and even…
Earlier release of Fed minutes would help market
This article says the Federal Open Market Committee rarely agree over the wording of the statement on the "why" even when they are unanimous about the "what." It suggests the committee should take a step favoured by some members and rejected by the…
HKMA's Yam on the case for an Asian Bond Market
In a speech on 'The Case for an Asian Bond Market' given on 8 July, Joseph Yam of the HKMA said collectively and individually, central banks and governments are making good progress on a variety of initiatives aimed at reducing barriers, building…
Kansas Fed's Economic Review, 2nd Quarter 2004
The Kansas City Fed's Economic Review 2nd Quarter 2004 includes an article "What Impact Will E-Commerce Have on the U.S. Economy?" which examines the economic factors that have contributed to the rapid growth of e-commerce and assesses how the future…
Danish cb's Monetary Review, 2nd Q 2004
The Danmarks Nationalbank's Monetary Review for the second quarter 2004 describes and comments on recent trends in external finance and domestic credit. It also includes articles on areas of the Nationalbank's work. The Monetary Review also presents…
Fed watching prices closely says Santomero
The Federal Reserve is closely watching price increases in various industries, Philadelphia Fed President Anthony Santomero said on US television.
Dallas Fed's McTeer - Inflation rise likely a blip
Increases in US inflation recently may prove to be a blip but the Federal Reserve needs two to three more months of data before it can make this judgment, Dallas Fed president Bob McTeer said on Tuesday 13 July.
Fed's Hoenig sees US inflation staying in 2% range
U.S. inflation should remain contained despite strong growth, Federal Reserve Bank of Kansas City President Thomas Hoenig said on Tuesday 14 July.
House prices likely to grow slowly Fed study shows
House prices in the US are likely to grow at the slowest pace in more than three decades as interest rates climb and land prices take a tumble over the next three years, researchers at the Federal Reserve have estimated in a new study.
Chirac calls on ECB to consider Europe's growth
The European Central Bank should not limit its role to controlling inflation and should review its mission so that it can take into consideration Europe's growth, French President Jacques Chirac said on Wednesday 14 July .
ECB on Court of Justice decision on Pact
The European Central Bank (ECB) said in a statement released Tuesday 13 July that it takes note of the judgement by the Court of Justice on the Council's actions of 25 November 2003.
SARB's Mboweni at the University of Pretoria
In a speech given on 8 July Tito Mboweni of the South African Reserve Bank emphasised that the bank has a vision of responsible and effective monetary policy formulation and continually strives to be an institution of excellence and innovation.
IMF's Rato at the conference on Central America
In a speech given on 9 July Rodrigo Rato of the IMF said that "our research has clearly shown that small open economies benefit enormously from globalization, as long as they are well prepared for it. In particular, we have found that poverty declines in…
With Euro as a model, group pushes global currency
The first meeting of the Single Global Currency Association met last Friday 9 July, with a modest attendance of seven. The group signed a resolution calling for the nations of the world to develop "a comprehensive plan for the implementation of a single…
Bank of Canada, Business Outlook Survey, Summer 04
The Bank of Canada published its Summer 2004 Business Outlook Survey on 12 July. Businesses are somewhat more optimistic about the outlook than they were in the spring, the Survey reported, reflecting increased confidence about the robustness of the…
Moroccan law gives central bank more independence
Morocco's Lower house has adopted by a majority vote a bill regarding amendments to the status of Bank Al Maghrib, the central bank, which will grant it more autonomy, MAP news agency reported.
Snow says terror threat hangs over US economy
The potential for more terror attacks is a risk to the U.S. economy that requires vigilance against any bid to weaken measures for investigating suspicious money transactions, U.S. Treasury Secretary John Snow said on Tuesday 13 July.
Noyer says ECB rate can't stay low forever
Bank of France governor Christian Noyer said in an interview that the ECB's interest rates are appropriate, but that financial markets should not expect them to remain low forever.