Central Banks
Rato: No strong inflation pressure in Europe, US
International Monetary Fund director general Rodrigo Rato said that inflation remains relatively moderate in Europe and the US, and expressed his support for the policies of the US Federal Reserve and the European Central Bank.
Sharp rise in euro note circulation
While the euro-area's economy may be sluggish, demand for the euro - as hard cash - has started to take off. This weeks CentralBankNet Monday special suggests the euro's bid to challenge the dollar as the world's hoarded currency has truly begun.
Can debt crises be self-fulfilling?
Several papers argue that debt crises can be the result of self-fulfilling expectations that no one will lend to a country. This IMF Working Paper says this type of coordination failure can be eliminated by a combination of state-contingent securities…
Reddy on financial stability: Indian experience
In a speech on 'Financial stability: Indian experience' given on 27 June, Dr YV Reddy of the Reserve Bank of India said in the context of ongoing reforms in the financial sector in India, the regulatory regime has also undergone certain fundamental…
Fed Reserve Bank of St Louis Review, Jul/Aug 2004
The latest edition of the St Louis Fed's Review for July-August 2004 contains proceedings of the Twenty-Eighth Annual Economic Policy Conference of the Federal Reserve Bank of St. Louis and includes articles "Is inflation targeting best-practice monetary…
Norges Bank Inflation Report, July 2004
Norway's central bank, Norges Bank, has published its latest Inflation Report for July 2004. The report says inflation is low and since the March Inflation Report, it has moved in line with projections. Inflation is being restrained by the appreciation…
Deutsche Bundesbank Monthly Report, May 2004
The Deutsche Bundesbank has published the English version of its May 2004 monthly report. In the first few months of 2004 the global economic upturn grew both stronger and more widely based. The terrorist attacks in Madrid and the escalation of the…
Italy escapes EU budget warning
Italy has escaped an EU warning over its worsening finances at a meeting of euro zone finance ministers in Brussels.
SNB's Roth sees GDP growth of 'almost' 2 pct
Swiss National Bank (SMB) chairman Jean-Pierre Roth said he expects the Swiss economy to grow by "almost" 2 pct this year, repeating previous comments by the central bank.
IMF expect 'progress' in Argentina discussions
The International Monetary Fund expects a significant advance in discussions to complete the third review of the program with Argentina, said IMF Managing Director Rodrigo Rato during a forum in Paris.
Economy adjusting, says BOJ's Fukui
Bank of Japan governor Toshihiko Fukui said on Monday 5 July that the country's economy is nearing recovery from the prolonged slump that followed the bursting of Japan's speculative bubble in the early 1990s.
Sunil Mendis appointed governor in Sri Lanka
Sunil Mendis has been appointed Governor of the Central Bank of Sri Lanka for a six-year term. He replaces A.S.Jayawardena whose term of office finished on Wednesday 30 June.
Fed appoints new General Counsel
The Federal Reserve Board on Tuesday 29 June announced the appointment of Scott G. Alvarez as its General Counsel, effective July 1, 2004.
S-N Korea's central bankers meet for first time
The heads of the central banks from North and South Korea met for the first time last Saturday, 26 June, in Switzerland.
FSA chief gets £109,000 pay boost
John Tiner, chief executive of the UK's Financial Services Authority, received a £109,752 rise in his total remuneration last year, according to the regulator.
ECB's new HQ begins to take shape
The construction of the new European Central Bank headquarters in Frankfurt moved one step closer this week with demolition work on the former site of the Grossmarkthalle (wholesale market) due to begin on Thursday 1 July.
BoE's Lomax on reasons for raising interest rates
In a speech given on 1 July, Rachel Lomax of the Bank of England said that "the UK emerged from the slowdown in the world economy with less slack than other economies. That is the key reason why we were the first to start raising interest rates".
FOMC minutes, 4 May, show worries over inflation
Minutes from the Federal Reserve's 4 May FOMC meeting released on 1 July showed that nearly two months before the Fed raised short-term interest rates on Wednesday, some board members made it clear that they were more worried about inflation than Alan…
The development of statistics for EMU - ECB book
The European Central Bank published a book on 2 July recording the work to develop statistics for Economic and Monetary Union (EMU). Part A of the book concerns the preparatory work in the years 1992 - 98. Part B describes the numerous enhancements made…