Central Banks
Argentina's Lavagna to meet IMF's Koehler
Argentine Economy Minister Roberto Lavagna will meet IMF Managing Director Horst Koehler in Miami on Monday 9 February to discuss the second review of a $13.3 billion loan deal, an economy ministry source said on Thursday.
G7 ministers prepare for meeting
Finance ministers of the rich G7 nations are converging on Florida for a weekend meeting that analysts say will produce little concensus.
Bies on enterprise-wide compliance programs
In a speech on 'Enterprise-wide Compliance Programs' given on 4 February, Susan Schmidt Bies of the Federal Reserve warned that it is too soon to assume corporate scandals and profit restatements were a thing of the past in U.S. and global business…
Bank of England raises rates to 4%
The Bank of England's Monetary Policy Committee voted on Thursday 5 February to raise the Bank's repo rate by 0.25 percentage points. In a statement the MPC highlighted the 'more broadly based' world economic recovery but judged the change was need to…
IMF officials to meet Iraqi finance chiefs
Iraq's finance minister and central bank governor are to meet officials at the International Monetary Fund after attending a Group of Seven meeting in Boca Raton, Florida.
Report says Belgium set to propose ECB candidate
According to a report in a Belgian local daily on Thursday 5 February, Peter Praet, a central bank director, is set to be put forward as a replacement to a retiring ECB board member.
Schroeder suggests gold reserves used to fund R&D
German Chancellor Gerhard Schroeder was quoted in an interview on Thursday 5 February as suggesting that Bundesbank gold reserves could be used to finance research and development projects.
BOJ says recovery on track, but yen concerns
Bank of Japan Governor Toshihiko Fukui said on Thursday 5 February that the Japanese economy probably performed strongly in the last quarter of 2003, but he highlighted the risk posed by a strong yen following the BOJ's decision to keep monetary policy…
ECB press conference with questions and answers
At the ECB's press conference on Thursday 5 February, after leaving eurozone interest rates on hold, Jean-Claude Trichet said he saw no need to amend the European Stability and Growth Pact and that the bank would not rush into any decision that impacted…
Chicago Fed's Moskow on the economic outlook
In a speech on 'Economic outlook' given on 3 February, Michael Moskow of the Federal Reserve Bank of Chicago said that worries that inflation is on the rise are premature, and it will take some time for pressure on resources to emerge.
RBA holds rates unchanged
The Reserve Bank of Australia left interest rates unchanged on Wednesday 4 February, pausing after two increases in November and December.
Trichet: The euro - five years on
In a speech on 'The euro - five years on' given on 2 February, Jean-Claude Trichet of the ECB said the Eurozone today already represents four-fifth of the number of EU countries. He added that UK entry is very warmly welcomed by all of us but depends on…
Bulgaria plans to restrict central bank powers
Bulgaria's Parliament has passed amendments, at a first reading, to the state budget law concerning the powers of the governor of the Bulgarian National Bank.
Putin discusses Russian economy with Ignatiev
Russian central bank president Sergei Ignatiev has held a working meeting with president Vladimir Putin to discuss the economy and exchange rate situation.
Welteke: Strong euro 'an asset' and outlook good
Ernst Welteke told an audience in Frankfurt that the strong euro is allowing the ECB to keep interest rates low. The Bundesbank chief also said the economic prospects for the eurozone and Germany "are rather good" and urged Britain to join the euro.
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…