Central Banks
Sveriges Riksbank predicts weaker exports
Minutes of the Sveriges Riksbank Executive Board meeting held on 4 June, published 18 June. The minutes said weaker international economic activity is expected to lead to a weaker development in Swedish exports and to postponement of the anticipated…
Gap in our knowledge about output and inflation
In this article in the Financial Times Samuel Brittan looks at the idea of discretionary fiscal policy replacing monetary policy once Britain is in the euro - a return to Keynesian demand management as some have describe it. The Treasury's proposal…
More delay in naming Bulgaria's cb governor
The naming of the new governor of the central bank of Bulgaria, scheduled for Friday 20 June, has been further delayed and is now expected next Thursday, 26 June, according to Novinite.
EU to keep Duisenberg at ECB until October
Wim Duisenberg will remain in his post until October, the Greek Prime Minister Costas Simitis has said according to Bloomberg News. Trichet got the backing on Thursday 19 June of leaders of Germany, Italy, Luxembourg and Portugal, as well as Greece's…
RBI to get real time settlement system by year-end
Business Line reports that Vepa Kamesam, Deputy Governor of the Reserve Bank of India has said India's much awaited 'real time gross settlement system' will become operational before the end of the year.
CBN: Who wants Sanusi out ?
An article in the Nigerian Daily Times discusses the recent speculation over the resignation of the governor of the central bank of Nigeria (CBN) Joseph Sanusi. During the week he found himself learning about his resignation from the media the article…
Prosecutor won't appeal Trichet decision
The public prosecutor's office in Paris has said it will not appeal the decision to acquit Jean-Claude Trichet on charges of false accounting., according to a report by BizWorld.
Argentina to bar provinces from emitting scrip
The Argentine senate is likely to approve a law barring the provinces from producing quasi- currencies as required by the IMF under the loan accord, according to Bloomberg. The proposed law makes the central bank the only entity permitted to produce…
Inflation expectations crucial - SARB
The South African Reserve Bank suggested in its June quarterly bulletin that it expected inflation to hit its target later this year but it would largely depend on the extent to which price expectations conformed to trends, according to a report by…
Controversy surrounds Venezuela's forex controls
Venezuela's finance minister Tobias Nobrega has announced that he will shortly be revealing to the Venezuelan public the changes to be made in the foreign exchange system, says VHeadline. However central bank board member Domingo Maza Zavala claimed the…
Sir Edward George's Mansion House speech
In his Mansion House speech Sir Edward George, Governor of the Bank of England said that in terms of the overall macro-economy the Monetary Policy Committee framework has served us well. Annual inflation - on the present RPIX target measure - perhaps…
Riksbank new proceedures for discoloured banknotes
New routines for processing discoloured banknotes announced by the Sveriges Riksbank in consultation with banks, 12 June.
Swedish monetary policy and EMU
The Riksbank has published a brochure 'Swedish monetary policy and EMU' which elucidates a number of important, practical monetary policy issues that will arise if Sweden adopts the euro.
Nordic central banks conclude MoU memorandum
The Governors of the central banks of Denmark, Finland, Iceland, Norway and Sweden signed a Memorandum of Understanding (MoU) on financial crisis management at their meeting of 11 June in Iceland.
RBA information on open market operations
After consultation with financial market participants, the Reserve Bank of Australia (RBA) has decided to increase the range of information published regarding its open market operations, 19 June.
Economic Review from the Atlanta Fed
The Federal Reserve Bank of Atlanta has published its Economic Review for the second quarter 2003. The latest edition includes an article titled 'Are On-Line Currencies Virtual Banknotes?'. This article examines the likely success or failure of on-line…
Canada's Dodge on recent economic developments
In a speech on 'Recent Economic Developments and the Conduct of Monetary Policy' David Dodge of the Bank of Canada said looking forward, it remains our view that growth in Canada's economy will be underpinned by the strength of domestic demand and a…
Barbados central bank to launch new book
As the 30th anniversary of the Central Bank of Barbados approaches, the Bank has announced it will publish a book, "Facing Globalisation: Impact and Challenges for Barbados and the Caribbean" on Friday 20 June, according to the Barbados Advocate
Polish central bank chief seeks euro entry in 2007
National Bank of Poland President Leszek Balcerowicz told Bloomberg News in a television interview "Our hopes are for 2007" to adopt the euro and it was worth aiming for early adoption.
Moldova's central bank diversifies forex reserves
The central bank of Moldova has diversified its foreign exchange reserve portfolio to guard against exchange rate risk, according to the ITAR-TASS news agency.
Gretta takes medical delegation to Palestine
Gretta Duisenberg, wife of the President of the European Central Bank, has accompanied a medical delegation to Palestine consisting of five physicians from the Netherlands and Belgiu, according to a report by the Palestine Chronicle.
IMF criticises Ukraine's bank refinancing program
The IMF has criticised the National Bank of Ukraine's long-term bank refinancing program, reports Interfax, saying it may distort the credit market, limit monetary policy flexibility and increase government spending.
Brown pledges not to fix euro entry tests
Gordon Brown said on Wednesday 18 June that the five euro entry tests would not be fixed, in a report in the Financial Times, and that the review in next year's budget of reforms aiming to create convergence between the UK and eurozone economies would…
South Asian ACU considers central clearing house
The Asian Clearing Union meeting in India has proposed the establishment of a central clearing house to facilitate faster risk-free clearing and settlement of transactions among member countries, according to the Daily Star.