Central Banks
ECB's Liebscher doesn't rule out intervention
ECB Governing Council member Klaus Liebscher said Friday that foreign currency intervention by the ECB could never be ruled out but would not be discussed in public ahead of time.
BoE's Lomax on Inflation Targeting
In a speech on 'Inflation Targeting - Achievement and Challenges' given on 18 February, Rachel Lomax of the Bank of England discussed the improvement in economic performance since the adoption of inflation targets and the challenges that policy makers…
Minutes from the Sveriges Riksbank Meeting, 5 Feb
Minutes of the Sveriges Riksbank Executive Board meeting on 5 February, published 19 February. The minutes pointed to a continued strengthening in international economic activity. Deputy Governor Kristina Persson entered a reservation against the…
Interview: Central Bank of Iraq's Chief Economist
In an interview Mudhir Kasim said that Iraq's central bank published official statistics for the first time in 26 years on Tuesday (17 Feb). "This is the first central bank bulletin since time immemorial. The information we produced before was secret,"…
The East Asian Dollar Standard
This article by Prof. Ronald McKinnon of the Stanford Institute for Economic Policy Research says that calls for China to revalue the yuan or allow it to float upward are not the answer. East Asian countries would be better served pegging to the dollar…
BOJ's Taya on recent economic developments
In a speech published on 19 February, Teizo Taya of the Bank of Japan said the Japanese economy has recently started to gain momentum for a cyclical recovery but the pace of recovery is moderate.
ECB won't burst bubbles says Issing
Otmar Issing said on Wednesday 18 February that the ECB would not use monetary policy to burst speculative bubbles in eurozone asset prices as such a move would have a negative effect on the real economy.
BNB's Quaden: Further euro rise 'not desirable'
Belgian National Bank governor Guy Quaden said at the release of the central bank's annual report that any further rise of the euro is "not desirable".
Stability Pact rule changes ruledout: Solbes
Pedro Solbes said on Wednesday 18 February that the current terms of the stability and growth pact will be maintained, ruling out any changes to the EU's much criticised budget rules.
PBOC reaffirms stability of renminbi
The People's Bank of China denied speculation on Wednesday that China's financial authorities have decided to appreciate the nation's currency in the near future.
Brazil's Copom holds rate at 16.5%
The Banco Do Brasil's monetary policy committee (Copom) announced Wednesday it was holding its Selic interest rate steady at 16.5%.
Bank of England MPC Minutes 4/5 February
Minutes of the Bank of England's Monetary Policy Committee Meeting were released on 18 February for the meeting of 4 and 5 February 2004. In a rare move, the MPC voted unanimously to raise interest rates by a quarter point.
Cleveland's Pianalto on the process of policy
In a speech on 'The Process of Policy' given on 13 January, Sandra Pianalto of the Federal Reserve Bank of Cleveland said provided a snap shot of a typical FOMC meeting, from the "go-round" when Committee members give their views on the economic outlook…
Netherlands plans to offload $866m of gold
The Dutch central bank plans to sell 65 tons of gold valued at $866 million when the 15-country gold sales agreement expires in September, spokesperson Tobias Oudejans said on Tuesday. 17 February
Oman plans new settlement system
The Central Bank of Oman (CBO) plans to introduce a real time gross settlement (RTGS) system for faster inter-bank transactions, a report said.
Serbian central bank warns parliament
The National Bank of Serbia warned on Tuesday 17 February that it would appeal to the Republic's Constitutional Court if parliament annuls the election of central bank governor Kori Udovicki.
BOJ's Iwata says strong GDP won't change stance
The Bank of Japan's deputy governor Kazumasa Iwata said on Wednesday 18 February that the BOJ's monetary easing policy will stay unchanged despite strong GDP figures, and added that deflation remains a stubborn problem.
Meirelles says Brazil can cope without IMF aid
Brazil's central bank chief, Henrique Meirelles, said in an interview that the country's dependence on the IMF could be reduced and a reduction in Brazil's "foreign vulnerability" could be achieved.
A case for removing the ringgit peg in Malaysia
This article looks at Malaysia's ringgit peg, saying that the US dollar's fall has posed questions over its viability. It argues for an immediate restoration of the free float regime, which applied before the local currency was fixed to the US dollar in…
St Louis Fed's Central Banker, Winter 2003
The Winter 2003 edition of the St. Louis Fed's Central Banker magazine has been published. The latest issue carries a report on Check 21 which, it says, will speed up and simplify check processing. The Winter edition also reveals why the Bank is…
RBA's Stevens on recent issues for monetary policy
In a speech on 'Recent issues for the conduct of monetary policy' given on 17 February, Glenn Stevens of the Reserve Bank of Australia said the bank raised interest rates late last year because of inflationary risks and demand for credit.
Heikensten-Risk management and financial stability
In a speech on 'Risk management and financial stability' given on 17 February, Lars Heikensten of the Sveriges Riksbank said regardless of the fact that there are now outstanding issues to be resolved to improve risk management, his overall conclusion is…
SNB's Roth says euro has stabilised Swiss franc
Speaking on Monday 16 February, Swiss National Bank chairman Jean-Pierre Roth said that the introduction of the euro has stabilized the Swiss franc but has also left the economy vulnerable to sharp currency swings.
Central bankers say stability pact not dead
The EU's much maligned stability and growth pact is not dead despite a decision by finance ministers in November to suspend its rules, ECB and Bundesbank members said Monday 16 February.