Central Banks
IMF chief Rato calls for deficit cuts
On the first part of his first Asian trip, International Monetary Fund Managing Director Rodrigo Rato urged Washington to cut its budget deficit and called on Beijing to "slow down" the Chinese economy to a more sustainable pace.
OECD chief economist: Inflation risk 'manageable'
Jean-Phillipe Cotis, chief economist for the Paris-based Organisation for Economic Cooperation and Development said the current level of oil prices will not pose an inflationary threat to the U.S. and European economies.
Inflation too low for rate rise says Chile's Corbo
Chilean central bank president Vittorio Corbo has said that the nation's inflation rate is too low to warrant a hike in the bank's benchmark lending rate.
NY Fed study sees no sign of US housing bubble
The New York Federal Reserve Bank said in a study published on Tuesday that there is no bubble in U.S. home prices despite the price surge in recent years and even if regional prices do fall, that will not pose a threat to the overall economy.
St Louis Fed's Poole on free trade
In the speech 'Free Trade: Why are Economists and Noneconomists So Far Apart?' given on 15 June William Poole of the Federal Reserve Bank of St. Louis said the media must do more to explain the benefits of free trade to the public, since economists have…
Fed Res Bank of Minneapolis - Annual Report 2003
The Federal Reserve Bank of Minneapolis has published its Annual Report for the year ended 2003. The Annual Report contains an article 'The Industrial Revolution: Past and Future'. "We live in a world of staggering and unprecedented income inequality,"…
HKMA's Yam on banking sector risks and challenges
In the speech 'Banking sector risks and challenges' given on 16 June Joseph Yam of the HKMA said drew attention to five processes that are likely to have an impact on the banking industry in the future. Each of these will have a different degree of…
Tumpel-Gugerell on a crisis prevention toolkit
In the speech 'Is there consensus on the crisis prevention toolkit?' given on 22 June Gertrude Tumpel-Gugerell of the ECB said the crisis prevention toolkit has been enriched considerably over the last few years. They are logically intertwined elements…
Fed strategy to meet demands of payment system
The Federal Reserve Banks has announced a strategy to accommodate the evolution of the nation's payments system from paper check processing to electronic processing, a development driven by a significant broad-based change in user preference, it said in…
Mervyn King's Mansion House dinner speech
In his Mansion House dinner speech given on 16 June Mervyn King of the Bank of England said central bank practices need to evolve with the technology for payments which is constantly evolving. Widening access to the UK large value payment system can lead…
Japanese reform efforts praised by IMF's Rato
The new head of the International Monetary Fund on Tuesday praised Japan's recent economic reforms saying the reforms had paid off and the future can be even brighter.
Weber says ECB concerned on oil price effect
Bundesbank president Axel Weber has said the European Central Bank is concerned about the possible secondary inflationary effects of the higher oil price.
PBOC denies interest rate rumour
The People's Bank of China (PBOC), the central bank, denied media reports on Monday that its research bureau had sent a report proposing an interest rate rise to the State Council, China's cabinet.
Bank of Japan to be restructured
The Bank of Japan faces major restructuring in July, the Yomiuri Shimbun reported Tuesday, with reforms to personnel policies and salaries intended to increase efficiency.
All eyes on Ireland
Ireland's single financial services regulator was a year old last month. Unusually for a single regulatory authority, it has been established as a wing of the central bank. Chief executive Liam O'Reilly spoke to Michael Imeson about its achievements so…
Bank of England Quarterly Bulletin, Summer 2004
The Bank of England released its Quarterly Bulletin Summer 2004, on 18 June. The Bulletin includes articles titled "Assessing the stability of narrow money demand in the United Kingdom," "Deriving a market-based measure of interest rate expectations," …
Bank of Japan Monthly Report, June 2004
According to the Bank of Japan's June Monthly Report the Japanese economy is "gathering strong momentum" and continues to recover, increased production and corporate profits are having a positive effect on employment, it said.
Broaddus on the economy and monetary policy
In the speech 'Comments on the economy and monetary policy' given on 16 June Alfred Broaddus of the Federal Reserve Bank of Richmond said he was confident U.S. inflation would stay contained, but it was critical to preserve the Fed's credibility for…
Bomb explodes near Iraq central bank
A mortar round exploded near Iraq's central bank on Sunday, injuring 10 people in the capital according to reports.
Greenspan takes oath for fifth term
Alan Greenspan Saturday evening took the oath of office as Chairman of the Board of Governors of the Federal Reserve System for a fifth four-year term commencing on June 20, 2004.
ECB's Issing says ECB mandate won't change
Moves by certain eurozone governments to alter the European Central Bank's mandate so that the bank focuses more on growth and less on inflation are doomed to fail, says the ECB's chief economist Otmar Issing in a newspaper interview published Monday.
Bundesbank optimistic for German industry
The Bundesbank said in its June monthly report published 21 June that it is expecting the recovery in the German industrial sector to continue this year.
Hungary leaves interest rates steady
The National Bank of Hungary left interest rates unchanged Monday and issued a warning about inflationary pressures in the economy.
Structural handicaps limiting growth says Trichet
European Central Bank president Jean-Claude Trichet said in an interview published Monday that structural handicaps such as labour market regulations and high public spending are the main limit to European growth.