Central Banks

Brazil adjusts inflation target upwards to 5.5%

Brazil revised its inflation target up on Tuesday 24 June to 5.5 per cent, reports Merco Press. The 2005 target was fixed at 4.5 per cent. Making the announcement, Brazilian Finance Minister Antonio Palocci emphasized that the government will keep…

RBNZ appoint Head of Operations

The Reserve Bank of New Zealand on Tuesday 24 June announced the appointment of Murray Bain as the Bank's Assistant Governor and Head of Operations. He will have particular responsibility for the Bank's financial, corporate, commercial and other internal…

Deutsche Bundesbank Monthly Report, May 2003

The Bundesbank said in its May 2003 monthly report that major uncertainty in the global economy and on the international financial markets, which peaked in the first quarter as the Iraq war was approaching, has since receded. This is reflected mainly by…

Central Bank of Ireland - Annual Report 2002

The Central Bank of Ireland has published its Annual Report for the year ended 2002. Governor John Hurley said in the foreword to the Annual Report that the international background for the Irish economy in 2002 has been difficult and there are few signs…

BoJ Monetary Policy minutes, 30 April

Minutes of the Bank of Japan's Monetary Policy Meeting on 30 April 2003, released 16 June. The minutes showed at least two of the BoJ's nine policy board members favour the introduction of a "reference rate of inflation" to halt deflation.

BOK governor may get more say over board members

A draft bill may give the Bank of Korea more influence over the appointment of members to its monetary policy board, Dow Jones reports. The proposed bill would increase the number of members the governor, Park Seung, can recommend to the board.

Belgian central bank shares drop on court ruling

A commercial court in Belgium has dismissed as unfounded a law suit calling for an extraordinary meeting of shareholders of the Belgian central bank, according to Reuters. The meeting was to ask for the dissolution of the Bank because a transfer of the…

Italy unveils a proposed 1 euro note

Italian Finance Minister Giulio Tremonti has come out in favour of the introduction of €1 notes, RTE News reports. Belgium and Austria have signalled they too favour small denomination notes with at least five eurozone states thought to be backing the…

Venezuela c bank seeks easing of forex controls

The central bank of Venezuela has appealed for a relaxation of the foreign exchange control regime currently in place, according to a report in the Financial Times. Domingo Maza Zavala, a central bank director, said the bank has called on the finance…

IMF deputy says U.S. Fed has room to cut rates

Deputy IMF managing director Eduardo Aninat said in a speech that the Federal Reserve has played a valuable role in sustaining domestic demand and "retains room to provide further stimulus should the recovery falter", according to a report by Reuters.

Brazil may raise inflation target

Economists have said that Brazil is likely to raise its inflation target to a more realistic level which could allow the central bank more room to reduce interest rates, according to a report by Bloomberg.

Fed's Bernanke on soft hearts, hard data

In a speech entitled 'Soft Hearts, Hard Data: The Use of Quantitative Analysis in Community Development' Ben Bernanke of the Federal Reserve said the collection and especially the analysis of data present difficult challenges to community organizations…

Central Bank Talk: Does it Matter and Why?

Paper 'Central Bank Talk: Does it Matter and Why?' presented by Donald Kohn and a senior Federal Reserve economist. Statements released by the Federal Open Market Committee (FOMC) and congressional testimony by Chairman Greenspan are found to…

Bank of England Inflation Attitudes Survey, May 03

The Bank of England's May 2003 quarterly Inflation Attitudes Survey was published on 20 June. Asked for their expectations of inflation over the coming year, respondents gave the same median answer as for perceptions of current inflation: 2.0%. This is…

Libya unifies dinar exchange rate

The deputy governor of the central bank of Libya, Farhat Qidra, said on Friday 20 June " The official foreign exchange rate has become unified now", according to the Arabic News. Previously different exchange rates applied for private companies and…

ECBs Solans says uncertainties cloud rates outlook

In an interview with the Financial Times, Eugenio Domingo Solans of the ECB said the current level of interest rates in the eurozone was favourable for a recovery. But the situation would be reassessed at the next meeting as the outlook was still clouded…

Serb central bank rejects claims of bankruptcy

The governor of the National Bank of Serbia (NBS) has rebuffed claims that the central bank is in financial difficulty, according to the Tanjug news agency. Mladjan Dinkic was responding to claims by Serbian Justice Minister Vladan Batic that the Finance…

Mozambique c bank governor denies economic crisis

The governor of the Mozambique central bank Adriano Maleiane has tried to calm matters in the African nation, according to All Africa News, by denying any crisis in the economy and blaming increased prices on the rise in the value of the South African…

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