Central Banks
Decision on 'Mr Euro' delayed to September
Finance ministers from the 12-country eurozone have deferred until September a decision on creating a "Mr Euro" as the political face of the single currency.
Leeladhar, Gopinath tipped as RBI dep governors
Union Bank of India chairman V Leeladhar and Reserve Bank of India (RBI) executive director Shyamala Gopinath are set to take charge as future deputy governors of the RBI, The Economic Times reported this week.
National Bank of Slovakia - Annual Report 2003
The National Bank of Slovakia has published its Annual Report for the year ended 2003. A factor stabilising the Slovak economy in 2003 was the launch of the process of consolidation in public finances, causing the ratio of the public sector deficit to…
Trichet: The current state of the European economy
In a speech on 'The current state of the European economy and the ECB's monetary policy concept' given on 9 July, Jean-Claude Trichet of the ECB said it has only been possible to achieve low levels of market interest rates in the eurozone because of the…
Minutes from the Sveriges Riksbank Meeting, 23 Jun
Minutes of the Sveriges Riksbank Executive Board meeting on 23 June were published 8 July. One member summed up the discussion of the international economic situation, saying developments had largely confirmed the assessment in the previous Inflation…
Fukui on the Bank of Japan's Semiannual Report
In a speech concerning the Bank's Semiannual Report on Currency and Monetary Control given on 9 June (published 8 July), Toshihiko Fukui of the Bank of Japan said Japan's economy is expected to continue recovering as it gains further momentum gradually…
House prices force velvet revolution at Bank
Revolutions can be noisy affairs but central bankers are known for their inherent conservatism. So if there is a revolution taking place in the corridors of the world's major monetary institutions, we are not likely to hear a great deal about it, this…
Portugal increase growth forecast
The Bank of Portugal has raised its forecast for economic growth this year owing to a higher-than-expected increase in internal demand, central bank Governor Vitor Constancio said.
NBP urges faster spending cuts for euro in 2009
Poland should move ahead quicker with its spending-reduction plan to cut the budget deficit and allow the largest new European Union member to adopt the euro before 2009, deputy governor of the National Bank of Poland (NBP) Krzysztof Rybinski said.
Finland missing 1.45bn markka after euro switch
Close to 1.45 billion Finnish markka, equivalent to 244 million euros, have yet to be exchanged for euros two and a half years after Finland switched to the euro, a Bank of Finland official said.
Reports of Russian bank crisis in progress
Pravda reported Friday a Russian banking crisis in progress, causing a rapid appreciation of the US dollar against the ruble. But a former government official said the situation could hardly be called a crisis.
Fed's Roger Ferguson on productivity:
In a speech on 'Productivity: Past, Present, and Future' given on 7 July, Roger Ferguson of the Federal Reserve said the recent increase in U.S. inflation should not be sustained but the Fed is ready to act if that view proves wrong.
Japan: FATF recommendations, anti-money laundering
Report on the Observance of Standards and Codes on the FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism for Japan. Prepared by a staff team of the IMF as a background documentation of the periodic consultation with…
Central banking in New Zealand
The Reserve Bank of New Zealand has updated one of its brochures, entitled "Central Banking in New Zealand", which is a generic description of the Reserve Bank's functions and its governance arrangements.
Lessons from the past productivity booms
Distinguished lecture on economics in government: Lessons from past productivity booms by Roger Ferguson and William Wascher. The experience in the US suggests that extended periods of strong productivity growth are characterized by innovations in…
ECB Monthly Bulletin, July 2004
The European Central Bank published its July 2004 Monthly Bulletin on 8 July. The high unemployment rate in the eurozone is likely to limit pressure for wage increases and thus prevent the recent rise in oil prices spilling over to other consumer prices…
RBI's Mohan says rates unlikely to change
the RBI's deputy governor, Rakesh Mohan, said on Thursday 8 July that he saw no change in the country's official interest rate policy following the new government's federal budget, presented earlier in the day.
Zimbabwe expulsion from IMF delayed
The International Monetary Fund has delayed Zimbabwe's possible expulsion for unpaid debt, giving the southern African country six months to turn around its economy, the state-run Herald newspaper said on Thursday 8 July .
Czech cb divided on June rate rise
The Czech central bank's decision to raise interest rates in June was supported by three board members and opposed by two, the central bank said on Thursday July 8.
Sarkozy calls for more transparency at ECB
French finance minister Nicolas Sarkozy has called on the European Central Bank (ECB) to publish records of its debates and votes when setting interest rates, in the interests of transparency.
Bank of England holds rates unchanged
The Bank of England decided against a third consecutive monthly rise in interest rates on Thursday 8 July , in a move which was widely expected.
St Louis Fed's Regional Economist, July 2004
The Quarterly Review of Business and Economic Conditions, The Regional Economist, July 2004 edition from the St Louis Fed includes the article "Fannie, Freddie and the FHLB". These government-sponsored enterprises continue to make headlines because of…