Central Banks
Brazil debates intervention in currency market
A debate has emerged in Brazil regarding the central banks intervention in the currency market after the government said last week it would not be desirable for the real to strengthen further.
Poole on booms and recessions
In the speech 'Booms, Recessions, and the Economically Disadvantaged' William Poole of the Federal Reserve Bank of St. Louis said I hope soon but do not know for sure, the economy will be expanding again and employment will grow. The U.S. Economy is…
No to the euro will cost the UK
The costs are certain for the UK in delaying joining the euro - but the benefits are not - argues a report by 11 world-renowned economists published today. CentralBankNet reports from the presentation.
Gramlich on loan guarantee programs
In a speech on 'Loan Guarantee Programs' Edward Gramlich of the Federal Reserve said though political motives undoubtedly are involved in the creation of loan guarantee programs, an economic rationale could be involved as well. Some social value, which…
McDonough at the New York Bankers Association
In a speech to the New York State Bankers Association William J. McDonough of the Federal Reserve Bank of New York focused on the theme of technology and the constancy of change in the economy and financial system. Technology, McDonough said, has helped…
Efficacy of central bank interventions - Australia
An RBA discussion paper "Identifying the Efficacy of Central Bank Interventions: Evidence from Australia" says the endogeneity of exchange rates and intervention has long plagued studies of the effectiveness of central banks' actions in foreign exchange…
Blair's euro ambitions in danger
A article in the Financial Times suggests that Tony Blair's euro ambitions are in danger from the five economic tests and the latitude given to the chancellor of the exchequer by the prime minister.
Strike in Israel disrupts central bank operations
A cut in interest rates by the Bank of Israel will not come into affect until bank business resumes as the country is currently gripped by a national strike Reuters reports.
Bundesbank's Stark unconcerned about euro rise
In an interview Vice President of the Bundesbank reported by Reuters, Juergen Stark said the global economy was not heading towards a major crisis and pointed to the fact that a strong euro made imports - particularly oil - cheaper, stimulating the…
Hurley welcomes new Irish regulator body
Address by John Hurley, Governor, Central Bank and Financial Services Authority of Ireland, 1 May, at the launch of Irish Financial Services Regulatory Authority.
Argentine c banker: priorities for new president
The head of Argentina's central bank Alfonso Prat Gay said on Thursday 1 May that the new president of Argentina, to be elected this month, should put sustainable growth at the top of the agenda and establish a long-term IMF deal and debt restructure,…
Swedes become more hostile to the euro
Four polls since 15 April suggest opponents of the euro outnumber supporters in Sweden by an average of 8 per cent, according to report by Bloomberg. This compares with six months ago when pro-euro campaigners led by 3 percentage points.
Norway's plans to sell Royal Mint stir up storm
Norway's central bank has said that by 2007 it will not be economically feasible to print notes and mint coins in the country, according to Aftenposten, but the move has caused controversy with many saying that printing notes and coins has "symbolic…
Brazil's Copom resisted April rates cut
Minutes of Brazil's central bank Copom meeting released on Friday 2 May showed that the bank resisted cutting interest rates in April as although inflation slowed in March, it failed to ease at the pace predicted, according to AE Brazil.
BoJ chief ignores bank share pressure
Speaking on Friday 2 May, Bank of Japan chief Toshihiko Fukui said the central bank cannot take limitless risk, which is a job that only the government can do. His comments, reported by Associated Press, were a response to government pressure to step up…
Greenspan's testimony to Congress
In a follow-up to the semiannual monetary policy report to Congress Alan Greenspan of the Federal Reserve said the consensus of economic forecasters is that a material rebound in economic activity will develop in the second half of this year, and…
Senior appointment at the RBA
The Reserve Bank of Australia announced on Wednesday April 30 that its head of economic analysis, Guy Debelle, will take a year's leave at MIT and be replaced by Dr Philip Lowe.
Statement by David Dodge to the Senate Committee
In his opening statement to the Senate Banking, Trade and Commerce Committee David Dodge said the Canadian economy should strengthen towards the end of 2003, partly thanks to a pickup in U.S. economic activity with average annual growth in Canada is…
ECB opinion on appointment to the Executive Board
ECB Opinion on the appointment of a member of the Executive Board of the ECB, 30 April 2003.
EC transfers payments system observatory to ECB
The electronic Payment Systems Observatory has been successfully transferred from the European Commission to the European Central Bank, 30 April 2003.
Fed Reserve Bank of Atlanta - Annual Report 2002
The Federal Reserve Bank of Atlanta has published its Annual Report for the year ended 2002. In this year's annual report, Jack Guynn said, some of the bank's senior leaders talk about the transitions they've witnessed during their careers at the Fed,…
Japan vice finance minister praises BOJ move
The Bank of Japan's decision to further relax its ultra loose monetary policy gained support from the government on Thursday 1 May,when Vice Finance Minister Masakazu Hayashi said he hoped the move would have a positive effect on the economy, Reuters…
Iraq war effect on Mideast less severe - IMF
An IMF official told Reuters on Thursday 1 May that the Iraq war was unlikely to have as severe an effect as expected on the Middle East economy because the conflict was relatively short.
Monetary policies working well for Canada: Dodge
Canadian Press reported that Bank of Canada chief David Dodge said on Wednesday 30 April that the Canadian dollars independence from the US has allowed it to rise in recent months, on the back of a strong economy, while the US has suffered sluggish…