Central Banks

SAMA monthly report, March 2003

REPORT - Latest indicators on monetary aggregates, banking sector, official reserves, exchange rates, payments and prices up to January 2003 for Saudi Arabia in SAMA's monthly report, released today.

What central banks do with their dollars

ARTICLE - The events of September 11 reversed a 25-year trend of central bank reserve managers accepting greater risk in their portfolios, argues a paper in the latest BIS quarterly review.

Freedman on sound economic policies

In the speech 'How Sound Policies Contribute to Strong Economic Performance' Charles Freedman of the Bank of Canada said that while growth is currently below potential the Bank of Canada expects increased demand in the second half of 2003 and into 2004…

Bergo on Oil - economic policy challenges

In the speech 'Oil - economic policy challenges' Jarle Bergo of Norges Bank said that oil provides Norway with an economic base not available to many other countries. But the wealth Norway's petroleum generates must be used wisely. Bergo contrasts Norway…

HKMA Quarterly Bulletin, March 2003

The Hong Kong Monetary Authority's Quarterly Bulletin for March 2003 includes articles on the 'External Demand for Hong Kong Dollar Currency' and 'Alternative Measures of the Real Effective Exchange Rate'.

MEPs reject ECB voting reform proposals

MEPs have rejected the ECB's proposal for reform of the voting arrangements of its Governing Council, according to a euobserver report. The idea was labelled "discriminatory" as it would mean smaller states who join the eurozone would face lengthy…

IMF backs Poland's drive to join euro-zone

The IMF has said it supports Poland's quest for early eurozone entry. In a semi-annual report on the country it said that early euro adoption would serve as a focus for reform that will allow higher potential growth for Poland.

Hungary's government, central bank in agreement

Hungarian prime minister Peter Medgyessy has stressed the importance of cooperation between the government and the central bank in guaranteeing that inflation targets are met, according to an Interfax report. Central bank governor Zsigmond Jarai said the…

Incoming BoJ chief to outline policies in Diet

Toshihiko Fukui will next week outline his policies for fighting deflation and stabilising Japan's economic system to the Japanese Diet, according to the Kyodo News Service. The Bank of Japan governor in waiting will be quizzed before the Diet give their…

Policy issues for central banks in retail payments

The Committee on Payment and Settlement Systems (CPSS) published the report Policy issues for central banks in retail payments on 10 March. The report was prepared for the CPSS by its Working Group on Retail Payment Systems, which comprises payment…

Bank of Japan Monthly Report, March 2003

The Bank of Japan has published its Monthly Report of Recent Economic and Financial Developments for March 2003. The BoJ said the domestic economic outlook remained uncertain, with no signs of an imminent improvement, a view it has taken for the last…

Rosenberg- Monetary policy and the Swedish economy

Speech on 'Monetary policy and the Swedish economy' by Irma Rosenberg of the Sveriges Riksbank. The speech was Rosenberg's first public appearance in her new role as Deputy Governor of the Riksbank. She said it was stimulating to meet people and discuss…

GCC customs union to meet in Riyadh

A meeting of the Gulf Customs Union Committee in Riyadh will review the execution of decisions since the launch of the GCC in January. The meeting will review progress, says Gulf News, and also look at potential problems facing importers and exporters.

Richmond Fed top discount-rate hawk

Recent analysis of FOMC voting between 1993 and 2002 has shown that the Richmond Fed is the most hawkish of the regional Fed banks whilst the Dallas Fed was the greatest dove, according to a Reuters report. The research also showed that recommendations…

Outgoing BOJ's Hayami says only so much we can do

As governor Masaru Hayami prepares to bow out of the Bank of Japan he spoke at his final news conference, reported by Pacific Business News. He said that the central bank could not cure Japan's economic woes on its own and that social and political…

Koehler- Major economies can still ease mon policy

Horst Koehler said in a speech, reported by Channel News Asia, that interest rates still have room to fall further for the world's major economies. He also suggested that fears of a global recession were over-played despite ongoing uncertainty.

Polish premier - Abolish Monetary Policy Council

Polish Prime Minister Leszek Miller said on Monday 10 March in a radio interview that the central bank's RPP interest rate setting committee should be abolished, according to PAP news agancy. His comments come after sustained criticism of the National…

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