Central Banks
BOJ on shaky ground in anti-deflation fight
This article considers whether the Bank of Japan's credibility is at risk. It asks whether the BOJ's quantitative easing policy is based on solid logic or represents a very risky move by governor Fukui. If the economy starts growing strongly it could see…
Eurozone inflation sticks at 2.0% in January
Eurozone annual inflation in January is expected to remain at two per cent according to official estimates published by the European Commission.
OECD report worries on Japan deflation pressure
The Organization for Economic Cooperation and Development (OECD) released a report on Tuesday 3 February on Japan suggesting that deflation remains a big problem despite the return to growth.
ECB's Padoa-Schioppa on exchange rate issues
In a speech on 'Exchange rate issues relating to the acceding countries' given on 2 February, Tommaso Padoa-Schioppa of the ECB said a smooth participation in ERM II will require that the overall policies of participating Member States are consistent and…
Bank of Canada unveils new $100 bank note
The Bank of Canada has unveiled Canada's new $100 bank note, which will go into circulation beginning 17 March. David Dodge said all Canadians can use the new notes "with comfort and with pride".
Nyberg on developments in the Swedish economy
Sveriges Riksbank Deputy Governor Lars Nyberg spoke to the Swedish Shareholders' Association last week. Nyberg said that although the dollar has weakened due to developments in the US trade and budget deficits it was generally considered to be have been…
Kohler on adoption of the euro in Central Europe
In a speech on 'The Euro - Towards Adopting the Common Currency in Central Europe' given on 2 February, Horst Kohler of the IMF said that imbalances in the global current account remain a risk to economic recovery though a stronger euro and weaker dollar…
Eastern Caribbean Central Bank- Annual Report 2003
The Eastern Caribbean Central Bank has published its Annual Report for the financial year 2002-2003. In his Foreword EECB governor K Dwight Venner said the Eastern Caribbean currency union experienced a challenging year with economic indicators mirroring…
Court told Bank knew BCCI's 'dubious reputation'
The High Court in London was told on Monday 2 February that the Bank of England was aware that the collapsed Bank of Credit and Commerce International had an "appalling reputation" and that other banks "wouldn't touch BCCI with a barge-pole" before…
Strong euro does not require rate cut - Buba
According to Hermann Remsperger, the Bundesbank's chief economist, the ECB does not need to cut eurozone interest rates to stimulate domestic demand. The ECB's rate-setting Governing Council is due to meet on Thursday 5 February.
Forex reserves hit record high in South Korea
South Korea's foreign exchange reserves hit a record high in January, helped by the government's continued dollar buying.
PBOC offers huge reward to Olympic coin designer
The People's Bank of China announced on Tuesday 3 february that it will pay up to 1.5 million yuan (US$181,378) for winning commemorative coin designs for the 2008 Olympic Games.
Central banks in the dock: lessons from BCCI
As the Bank of England begins its marathon court case over its handling of the failure of BCCI, CentralBankNet spoke to Charles Proctor about the lessons for other regulators.
Sweden's Rosenberg on current monetary policy
In a speech on 'The current monetary policy situation' given on 29 January, Irma Rosenberg of the Sveriges Riksbank said that the information received so far since December does not appear to significantly alter the picture of a recovery in economic…
Wellink on prospects for the European economy
In a speech on 'Prospects for the European economy' given on 27 January, Nout Wellink of De Nederlandsche Bank said he was optimistic about the prospects for the European economy.
RBNZ prepared to constrain asset bubbles
The Reserve Bank of New Zealand revealed on Friday 30 January that in rare circumstance it is prepared to adjust monetary policy to constrain extreme asset price bubbles, whereas normally the Reserve Bank is only required to ensure consumer price…
RBNZ's Bollard on asset prices and monetary policy
In a speech on 'Asset prices and Monetary Policy' given on 30 January, Alan Bollard of the Reserve Bank of New Zealand said he would be willing to use monetary policy "to constrain extreme asset price bubbles," but that the current situation with housing…
Chavez presses Venezuela's cen bank on funds
Venezuelan President Hugo Chavez repeated on Sunday 1 February demands that that the central bank complete its commitments to release reserves to finance the state revival of the nation's flagging farm industry.
Court rejects Bank of Israel's petition
The Bank of Israel suffered a setback on Sunday 1 February when the High Court of Justice refused to block treasury intervention in the central bank's wages policy.
Tanigaki says Japan could increase gold holdings
Japan's Finance Minister Sadakazu Tanigaki said in response to a parliamentary question that Japan may consider increasing its gold reserves to bring them more into line with levels elsewhere.
Spain has 'very good' candidates to replace Solans
Spain can offer "very good candidates" to replace European Central Bank executive board member Eugenio Domingo Solans when his mandate ends on May 31, said Economy Minister Rodrigo Rato this week.
Trichet nose his skiing
Attending a summit in London this week ECB boss Jean-Claude Trichet stood out from the crowd with what was described as a large plaster on his nose.