Central Banks
Bulgaria c bank governor talks resume this week
Discussions over the appointment of a new governor for the national bank of Bulgaria will resume this week, according to Novinite. The announcement came a week after right-wing United Democratic Forces and the Socialist Party suspended negotiations and…
'Absurd criteria for new EU members'
An article in the Financial Times says that, fortunately, such a disastrous scenario as a deflationary spiral in the eurozone is unlikely. But that is not true of the problems that low or negative inflation within the eurozone could pose for the…
Danmarks Nationalbank - The Nationalbank building
The Danmarks Nationalbank building in the middle of Copenhagen is a distinctive presence in the street scene. It was designed by the internationally renowned Danish architect Arne Jacobsen and built between 1965-78. The building is considered one of Arne…
Poland to elect new monetary council member
The newest member of the National bank of Poland's Monetary Policy Council (RPP) will be elected in August. Analysts said Stanislaw Nieckarz, an economic advisor to the prime minister, has the best chance of taking up the position.
Issing speech at the ECB Watchers Conference
In the speech 'ECB Watchers Conference: The evaluation of the strategy' Otmar Issing of the ECB said this meeting is a special one. In the course of the last year the ECB has launched, conducted and concluded an evaluation of its monetary policy strategy…
Greenspan testimony on Natural gas supply
In the speech 'Natural gas supply' Alan Greenspan of the Federal Reserve said growing U.S. demand for natural gas to fuel factories and electricity plants may outweigh environmentalists' desire to preserve wilderness areas that contain energy reserves.
ECB press conference with questions and answers
At Thursday's ECB press conference Wim Duisneberg said that economic growth in the 12-country euro zone remained "subdued" in the second quarter of this year and there were no signs of a significant improvement in production and confidence. "The latest…
St Louis Fed's Regional Economist, July 2003
The Quarterly Review of Business and Economic Conditions, The Regional Economist, July edition from the St Louis Fed includes an article 'What Should a Central Bank Look Like?' to figure out what a central bank should look like, consider that most have…
HKMA appoints Ryback as new Deputy Chief Executive
The Hong Kong Monetary Authority (HKMA) announced the appointment of Mr William A. Ryback as Deputy Chief Executive of the HKMA on 11 July. Ryback will succeed David Carse who leaves the HKMA in September.
Interview with National Bank of Poland governor
In an interview with the Polish News Bulletin published Friday, Leszek Balcerowicz, governor of the National Bank of Poland spoke on the government deficit, inflation targeting, and eurozone accession.
ECB's Duisenberg confirms 1 Nov retirement
At Thursday's ECB news conference Wim Duisenberg confirmed that he expects to hand over to Bank of France governor Jean-Claude Trichet on 1 November. Duisenberg said that he saw no risk that he will be regarded as a "lame duck" president during the…
ECB's Issing rejects Schroeder's comments on euro
Speaking Friday ECB chief economist Otmar Issing said the competitiveness of the German economy "does not just depend on the exchange rate" in response to an apparent call from German chancellor Schroeder that the ECB should intervene in the currency…
Buba's Zeitler says ECB should keep rates steady
Bundesbank board member Franz-Christoph Zeitler, speaking on the ECB's decision Thursday to keep interest rates unchanged, said "two percent is the right level - I recommend staying hold" Bloomberg reported.
Webb resigns as president of Peru's central bank
Richard Webb has resigned as president of Peru's central bank. A statement from the President's office did not give a reason for the resignation, Reuters reported. A later report from Bloomberg News quoted Economy and Finance Minister Javier Silva as…
Swedish poll shows euro no's ahead of supporters
Opposition to joining the euro has increased in Sweden, a recent poll shows. Support for a yes vote to joining the single currency remained unchanged at 38% Bloomberg said, but opposition to the euro increased by 3% to 53%, in what was called a mid-term…
BOJ's Taya, Nakahara opposed increasing stock buys
Documents obtained by Reuters on Friday through Japan's freedom of information laws show that Bank of Japan board members Teizo Taya and Shin Nakahara opposed the decision under which the central bank increased the amount of stocks it purchases directly…
Interview: Iraq's acting central bank chief Salman
In an interview with Reuters Faleh Salman, interim central bank governor in Iraq said Tuesday the central bank's independence from government interference for the first time in decades will help create confidence in the new Iraqi dinar banknotes. The…
IMF praises Kenya's 'new chapter'
IMF managing director Horst Kohler said Tuesday he was impressed with the Kenyan governments efforts to tackle economic problems. Kohler held talks with President Mwai Kibaki and central bank governor Andrew Mulei during the visit, Business Day reported.
Cash shortage still grips Zimbabwe
The Reserve Bank of Zimbabwe is printing over R218 million worth of cash to inject in the market and counter the current shortages, SABC News reported. ATM machines are empty in the country and the note printing is unlikely to help inflation currently…
Brazil's central bank faces 'weak' strike action
Workers vowed to paralyse Brazil's central bank and Finance Ministry during a strike of public workers on Tuesday. The action was described as "weak" with most employees going to offices as normal past handfuls of protestors who urged them to save their…
Information Guide for institutions using TARGET
The European Central Bank published on 9 July a new edition of the "Information Guide for credit institutions using TARGET". This publication provides a standard set of information on TARGET functionality and answers the most frequently asked questions…
Bank of England statement on rate cut decision
The Bank of England's Monetary Policy Committee today voted to reduce the Bank's repo rate by 0.25% to 3.50%, 10 July. In its press release the Bank said the global economic recovery remained hesitant and the cut was needed to keep inflation on track to…
Statement on IMF Managing Director visit to Kenya
Statement to the press made by Horst Kohler, Managing Director of the IMF in Nairobi, on July 8, 2003. Kohler said that while the challenges were considerable, the Kenyan government has begun to tackle them in "a decisive manner".
ECB holds interest rates steady
At Thursday's meeting the Governing Council of the ECB decided that the minimum bid rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 2.00%, 3.00% and 1.00%…