Central Banks
ECB's Trichet on the eurozone economy
In a speech to the European Parliament given on 4 July Jean-Claude Trichet of the ECB said the bank projects inflation to be between 1.8 per cent and 2.2 per cent this year and between 0.9 per cent and 2.1 per cent in 2006, adding that "upside risks to…
Minutes from the Sveriges Riksbank Meeting, 20 Jun
The Sveriges Riksbank published the minutes from its 20 June Executive Board meeting on 5 July. In Sweden economic activity has slowed, the minutes said. In the first quarter GDP growth was much lower than estimated by the Riksbank and other forecasters.
BIS anniversary exhibition attracts many visitors
The Bank for International Settlements (BIS) has said it is delighted at the public's response to its 75th anniversary exhibition, 'this is the biz'.
Bank of Spain chief rejects ECB rate criticism
Bank of Spain governor and ECB board member Jaime Caruana denied criticism that current interest rates in Europe represent an obstacle for economic growth, Expansion reported, citing an interview with Caruana.
Fukui: Japan's monetary easing policy to remain
Bank of Japan governor Toshihiko Fukui said on Wednesday 6 July that the central bank will maintain its quantitative monetary easing policy to support the Japanese economy until deflation risks retract.
EU Parliament rejects ECB report over rate stance
MEPs rejected a report praising the European Central Bank's interest rate policy on Tuesday, saying the ECB was focusing too narrowly on stability and ignoring the need for growth.
Research on exchange rates and monetary policy
This BIS Working Paper published June 2005 reviews research carried out on exchange rates and monetary policy by central banks that participated at the Autumn Meeting of Central Bank Economists on "Exchange rates and monetary policy", which the BIS…
RBI's Reddy on challenges in a globalising economy
In a speech on 'Overcoming challenges in a globalising economy : Managing India's external sector' given on 23 June Y.V. Reddy of the Reserve Bank of India said the bank is unlikely to yield to pressures for significantly accelerating the pace of…
Buba's Fabritius on Euro-Arab Economic Dialogue
In a speech to 'The Euro-Arab Economic Dialogue' Summit given on 23 June Hans Georg Fabritius of the Bundesbank said the current global economic conditions are well suited to enhance economic cooperation between Europe and the Arab world.
National Bank of Austria - Annual Report 2004
Austria's economy gathered considerable steam in the first half of 2004, mainly driven by booming external trade, according to the National Bank of Austria's Annual Report 2004.
Bank of Canada, Business Outlook Survey, Summer 05
The Bank of Canada published its Summer 2005 Business Outlook Survey on 4 July, reporting that businesses remain optimistic about the economic outlook.
Bank Indonesia to boost rupiah
Bank Indonesia governor Burhanuddin Abdullah said on Tuesday 5 July that the central bank will lend state-owned oil company Pertamina money to fund oil imports as part of efforts to support the rupiah exchange rate.
ECB's Noyer says euro departure possible
European Central Bank (ECB) governing council member Christian Noyer said in a closed appearance in the French National Assembly last week that it would be possible, but highly risky, for member states to leave the eurozone.
PBOC adviser backs yuan rate policy
A Chinese central bank adviser has said that monetary policy should stay stable in the near future and that China's economic growth and inflation were optimally matched, the Financial News said on Tuesday 5 July .
Romania's Isarescu says inflation to reach 7.5%
The governor of Romania's central bank Mugur Isarescu said on TV that inflation might reach 7.5 per cent this year, instead of the 6per cent that was expected initially, but he assured his audience that inflation will continue to fall.
IMF's Rato says no need for ECB rate cut yet
International Monetary Fund managing director Rodrigo Rato said in an interview that there is no reason for the European Central Bank to cut interest rates at the moment, but it should do so if euro zone growth weakens any further.
Paper: MPC inflation targeting and decision making
This paper published June 2005 considers decision making in the Bank of England's MPC. It finds there are identifiable forms of heterogeneity among members of the committee that improves the predictability of interest rate changes.
Noyer on the establishment of the SEPA
In a speech given on 23 June, Christian Noyer of the Banque de France stressed that it is essential that the efforts put together by the banking industry since 2002 bear their fruit so that the SEPA becomes a tangible reality shortly.
Fed's Olson on US mortgage products
In the speech 'Revisiting traditional paths to ownership' given on 23 June, Mark Olson of the Federal Reserve said an explosion in mortgage products that lowers payments in the early years of a loan has helped to extend U.S. home ownership, but carries…
Fed Reserve Bank of St Louis Review, Jul/Aug 2005
The latest edition of the St Louis Fed's Review for Jul/Aug 2005 includes the proceedings from the 29th economic policy conference of the Federal Reserve Bank of St. Louis, "Productivity, labor, and the Business Cycle."
PBOC facing difficulty in setting policy-report
The People's Bank of China has said it is facing more difficulty in setting monetary policy because of the fast-changing domestic and international environment, the official Financial News reported.
Russia ranked world's fifth in reserves
Russia ranks the world's fifth in terms of its international reserve assets (for gold and foreign exchange reserves), Prime Tass economic news agency reported on Friday 1 July.
Philippines joins anti-money-laundering network
The Philippines' Anti-Money Laundering Council (AMLC) has been admitted as a member of the Egmont Group, a global network of financial intelligence units that tackles money-laundering, the central bank said.
ECB's Liebscher says slowdown 'temporary'
European Central Bank council member Klaus Liebscher has called a slowdown in the region's economy a "temporary phase of weakness" and said rising exports and a declining euro will help revive growth by the end of 2005.