Central Banks
Bundesbank's Weber on the IMF
In closing remarks to the Joint IMF-Bundesbank Symposium given on 8 June, Axel Weber of the Deutsche Bundesbank said the IMF is an indispensable engine to improve the functioning and stability of the international monetary system.
Norway's Gjedrem on inflation targeting
In the speech 'Experiences with inflation targeting in Norway and other countries' given on 7 June, Svein Gjedrem of Norges Bank said in light of the experiences of different countries in the last 10-15 years, he is confident that flexible inflation…
Bank of England MPC Minutes, 8 & 9 June
The minutes from the 8 and 9 June meeting of the Bank of England's Monetary Policy Committee published on Wednesday 22 June showed policy makers voted 7- 2 to keep interest rates unchanged this month, with Charles Bean and Marian Bell preferring a 0.25%…
ECB's Mersch says rates 'perfectly appropriate'
European Central Bank council member Yves Mersch said current interest rates are correct and that Italian calls to leave the euro would be a recipe for turmoil.
Eurozone hampered by lack of reform, not rates
Bank of France governor Christian Noyer said it is not the level of European Central Bank interest rates which is hampering eurozone growth, but rather it is the lack of structural reform.
Official says pressure on yuan won't bring change
China said it would not bow to political and speculative pressures to adjust the value of its currency, as US officials prepared to testify about the impact of China's fixed exchange rate on the US economy.
Euro dip not caused by EU rejection says Liebscher
The euro hasn't been affected by the crisis facing the European Union following the rejection of its proposed constitution, the governor of Austria's Central Bank said on Tuesday 21 June.
RBA to open emergency back-up office
The Reserve Bank of Australia is to get a $38 million back-up office complex in an outer Sydney suburb in case an emergency shuts its city head office.
Philadelphia Fed Business Outlook Survey, Jun 2005
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, June 2005, activity in the region's manufacturing sector weakened. This represents a decline from the moderate performance in May.
Bank of England Inflation Attitudes Survey, May 05
The Bank of England published its May 2005 Inflation Attitudes Survey on 20 June. 62% of respondents thought the inflation target was 'about right', the highest response rate for this question since the survey began.
Sveriges Riksbank Inflation Report, No. 2, 2005
Sweden's central bank, the Sveriges Riksbank, published its Second Inflation Report for 2005 on 21 June. The bank also announced it had decided to lower the repo rate from 2 per cent to 1.50 per cent. It said over the coming years UND1X inflation is…
Norway's Gjedrem on price stability
In the speech 'Price stability is not self-generating' given on 7 June, Svein Gjedrem of Norges Bank said one lesson to learn from the pitfalls of projecting or trend-extending economic variables is that it is very difficult to predict developments in…
IMF's Rato sees no rush on China yuan rate
International Monetary Fund Managing Director Rodrigo Rato said there is no need for China to make its currency convertible in a single step, although a more flexible yuan exchange rate would benefit China and other countries.
Malaysia's Zeti says inflation may nudge higher
Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz was reported as saying on Tuesday that inflation could edge higher before tapering off later this year.
France's Noyer says no bias in ECB stance
Bank of France governor Christian Noyer told a news conference that the European Central Bank has no bias in its monetary policy stance and current ECB rates remain "exactly appropriate".
Tanigaki says Japan, China may discuss yuan
Japan's Finance Minister Sadakazu Tanigaki said that the meeting of finance ministers from Asia and Europe scheduled for this weekend in China could include a discussion of the yuan's peg to the US dollar.
Central bankers meet to discuss growing deficits
On 20-21 June, Central Banking Publications hosted its first conference on Sovereign Asset and Debt Management, which brought together speakers and delegates from central banks, ministries of finance, debt offices and financial institutions.
Bank of Japan Policy Board Minutes
Bank of Japan policy makers Toshikatsu Fukuma and Atsushi Mizuno voted in April and May to cut the target for funds the bank makes available to lenders, according to minutes released on 20 June.
BIS Papers on foreign exchange market intervention
On 2 and 3 December 2004, the BIS hosted a meeting of Deputy Governors of central banks from major emerging market economies to discuss foreign exchange market intervention. The BIS published various papers from the meeting on Monday.
PBOC's Zhou says economy growth at 9 percent
China's economy is still growing at more than 9 per cent annually, the central bank governor said on Saturday18 June, but noted that conditions for bringing down inflation had improved.
Fed's Stern sees US rate rises continuing
Federal Reserve Bank of Minneapolis President Gary Stern sees no reason for the Federal Reserve to stop raising interest rates now as the economy expands at a desirable pace, a Japanese newspaper reported on Monday 20 June.
Villepin says ECB should include for ex concerns
France's Prime Minister Dominique de Villepin said the European Central Bank should incorporate foreign exchange concerns, and factor in the value of the euro on world currency markets, when setting monetary policy for the euro zone.
EMEAP central banks to boost economic security
The governors of central banks from 11 East Asian and Pacific countries agreed to build a regional financial security network and strengthen coordination in a bid to decrease financial vulnerability against external pressure.
Russia likely to float rouble within three years
The Russian central bank and the finance ministry have signalled that the government will allow the rouble to float freely within the next three years, the Interfax news agency reported.