Central Banks
IMF contenders line up after Kohler's shock exit
Horst Kohler's decision on Thursday 4 March to step down a year early from the IMF to accept a nomination to become German president has seen various names enter the fray as possible successors, including UK chancellor Gordon Brown.
IMF pats BOE on back
The IMF, in a report following annual consultations with London, said on Friday the British economy "has weathered the global slowdown well" and that following a slowdown in the wake of the Iraq war, "economic activity has staged a strong recovery."
Greenspan 'Maestro of Chutzpah'
In his New York Times column "Maestro of Chutzpah", Paul Krugman says Alan Greenspan "betrayed his institution, and the nation" by using his office to promote a political agenda.
Bank of Canada announces anti-counterfeiting award
The Bank of Canada announced on Wednesday 3 March the creation of a Law Enforcement Award of Excellence that will be presented annually to an official who demonstrates outstanding commitment and initiative in the fight against banknote counterfeiting.
Federal Reserve Board - Beige Book, March 2003
The Federal Reserve released its March 2004 survey of Current Economic Conditions, known as the Beige Book, on 3 March. The report said economic activity continued to expand in January and February but on the jobs front the report found employment …
Lithuania begins euro transition preparation
The Lithuanian government approved a proposal on Wednesday 3 March for the country to join the European Union's exchange rate mechanism, which is crucial before Lithuania can join the euro.
Trichet firm on ECB's independence
European Central Bank president Jean-Claude Trichet said at the ECB's post- meeting press conference on Thursday 4 March that the bank should never be influenced by political pressure when it takes interest rate decisions.
Bank of England keeps rates on hold
The Bank of England left interest rates at 4 per cent on Thursday 4 March; economists speculated that the MPC wanted to see how households were adjusting to the higher cost of borrowing.
Brazil senate committee wants to quiz Meirelles
The Brazilian senate's economic affairs committee has invited Finance Minister Antonio Palocci and Central Bank President Henrique Meirelles to explain the government's economic policy, the Senate's news agency reported.
The ECB's new headquarters may bring image change
This article looks at the ECB's new HQ plans and examines other central banks' architecture. The Bank of Japan's main office looks suspiciously like the Bank of England which has a grand, imperial flavour, it says. Then there's the Federal Reserve with a…
China to keep monetary policy & yuan stable in 04
China's Premier Wen Jiabao will tell parliament on Friday 5 March that China will retain stable monetary policy and proactive fiscal policy in 2004, but aims to pare down lending to duplicate projects to curb over-investment.
IMF's Koehler named candidate for presidency
Horst Koehler, managing director of the IMF, is to become the candidate of the opposition parties for president of Germany. If he is elected by parliament in a vote on May 23, he will leave his IMF post a year before his term runs out.
Greenspan on the current account
In the speech 'Current account' Alan Greenspan of the Federal Reserve kept up his record of making a comment on a key policy issue every day by saying Tuesday that the yen appeared to be "elevated" against the dollar.
Bernanke on money, gold, and the Great Depression
In the speech 'Money, Gold, and the Great Depression' given on 2 March Ben Bernanke of the Federal Reserve said that research into the global spread of the Great Depression adds to the view that policy errors fostered the devastating economic downturn.
RBA's Edey on economic issues in 2004
In the speech 'Economic Issues in 2004' given on 3 March Malcolm Edey of the Reserve Bank of Australia said the Australian economy has generally grown at a pretty good pace over the last few years, despite an unfavourable international climate for much…
China rejects Greenspan's forex warning
China dismissed warnings by Fed chief Alan Greenspan that it faces serious economic consequences if it continues to mount up massive US dollar holdings as it defends the dollar pegged yuan system.
Norway says no plan to resume forex buying
Norway's central bank reaffirmed on Wednesday it had no plans to resume purchases of foreign exchange for the country's USD 121 billion oil fund.
Japan says Greenspan remarks not criticism
Japan's Chief Cabinet Secretary Yasuo Fukuda said Wednesday he does not see the warning by US Federal Reserve Board Chairman Alan Greenspan against Japan's currency interventions as criticism of Japan's policies.
US Mint ships in new nickels
180 million new US nickels are currently being shipped to the Federal Reserve and will sport their first new look for 66 years as part of the Mint's new Westward Journey Nickel Series.
G20: Imbalances pose risk to world recovery
Finance officials from the G20 group of developed and big emerging market economies agreed on Wednesday that global imbalances were a risk to the improving world economy.
Asian reaction to Greenspan
Journalists of Agence France Presse have been surveying reactions in Asia to Greeenspan's warnings about the inflationary implications of heavy intervention.
Japan ponders reserves switch
Japanese Finance Minister Sadakazu Tanigaki's suggestion that Japan might consider diversifying its massive foreign exchange reserves provoked speculation about possible dollar dumping on a huge scale by Asian governments and also set the gold market…
Fed's Olson : A regulator's view of banking
In a speech on 'A Regulator's View of Emerging Issues in Community Banking' given on 27 February, Mark Olson of the Federal Reserve said that America's small, community banks must watch asset and liability management and take care they don't get caught…
Czech NB's Tma on forecasting
In a speech 'Forecasting at central banks' given on 20 February, Zdenik Tma of the Czech National Bank said the first years of the new regime were not easy, and included frequent numerical target misses. Nevertheless, the Czech Republic enjoys low…