Central Banks
Greenspan on education
In testimony on education given to the House Education and Workforce Committee on 11 March Alan Greenspan of the Federal Reserve said that "employment will begin to increase before long," and that protectionist trade barriers were not the answer to…
Norway cuts interest rates further
Norges Bank cut its key interest rate on Thursday 11 March by 0.25 per cent to a new record low of 1.75 per cent to spur inflation in the oil-dependent economy. It was the tenth time that Norway has cut its main rate since it was at 7 per cent in…
Buba's Stark on promoting stability and growth
In a speech on 'Promoting Stability and Growth: Economic Reforms and Sound Institutions' given on 9 March, Jurgen Stark of the Deutsche Bundesbank said Argentina has a number of difficult years behind it, but the same time, the people of Argentina will…
International research forum on monetary policy
The European Central Bank has announced the venue and date of its third conference. Its purpose is to encourage research on monetary policy issues that are relevant from a global perspective.
Vietnam and North Korea sign banking pact
The central banks of Vietnam and North Korea have signed a banking pact to boost bilateral trade, an official from North Korea's embassy in Hanoi said on Wednesday 10 March.
BOJ's Fukui supports Japan's forex intervention
Toshihiko Fukui said on Wednesday 10 March that he endorsed the Japanese government's foreign exchange intervention policy, saying it was in line with the Bank of Japan's own efforts to pull the economy out of deflation quagmire.
PBOC says advisable to maintain stable yuan
China's yuan exchange rate should be kept at a relatively stable level given the recent emergence of trade deficits, a People's Bank of China official said on Wednesday 10 March in an editorial in a China daily.
Canada's Dodge on global economic change
In a speech on 'Adjusting to Global Economic Change' given on 10 March, David Dodge of the Bank of Canada said federal and provincial governments must pare their debts in his first public speech since cutting interest rates last week.
Snow says Fed is wise to hold off rate rise
Alan Greenspan and his Federal Reserve colleagues have been "extraordinarily disciplined" and have not overreacted to signs of increased economic growth by raising interest rates, US Treasury Secretary John Snow has said.
Argentina avoids new IMF debt default
Argentina's government made a $3.15 billion payment to the International Monetary Fund on Tuesday 9 March, averting a new debt default with the Fund.
Report says Colombia should increase reserves
According to Colombia's banking association, the central bank should boost its international reserves by about $500 million to offset possible sudden capital outflows that would follow a US interest rate rise.
Cleveland Fed's Pianalto on interest rates
In a speech on 'A National Voice, A Regional View' given on 5 March, Sandra Pianalto of the Federal Reserve Bank of Cleveland said she can't say when interest rates are going to rise but added, "I know that this is a difficult time we are facing," and…
Riksbank's Persson on women, growth and welfare
In aspeech on 'Women, growth and welfare - an equation that must add up' given on 8 March, Kristina Persson of the Sveriges Riksbank said there is most probably some potential to increase productivity in the services sector but it is not sufficient just…
CBCDG reports progress on banknote security
The Central Bank Counterfeit Deterrence Group (CBCDG) has now developed the Counterfeit Deterrence System and discussed the progress in this area at the G10 meeting in Basel, 9 March.
Belgium calls for fair play over ECB job
Belgian finance minister Didier Reynders has said competence should be the "only criteria" for picking a replacement for Spain's Eugene Domingo Solans, who leaves the ECB's executive board at the end of May.
Meirelles says Brazil can stand Argentine default
President Henrique Meirelles of the Banco Do Brasil has said his county's economy can weather a possible default by the Argentine government on its $3.1 billion debt to the IMF, Brazilian newspaper Estado de S. Paulo reported.
US's Snow criticises currencies 'on life support'
U.S. Treasury Secretary John Snow implicitly criticised Japan's continued currency market intervention on Monday 8 March after giving a speech.
Argentina on brink of new IMF default
Argentina was on the brink of a new debt default with the IMF on Tuesday 9 March as last-minute discussions went to the wire while the Argentine government studied an IMF proposal.
Germany changes position on governing council post
It was reported on Tuesday 9 March that the German government had changed its position that large countries should automatically retain seats on the ECB's executive board.
EU need 'unchallengeable' choice for IMF, says Mer
Francis Mer has said that the EU should agree on an "unchallengeable" contender as Horst Koehler's replacement at the IMF, to avoid a repeat of the squabbling over its previous nomination.
Interview: Heraldo Muoz
Since September 11th the tracking of global terrorist funding has been more important than ever. CBNet spoke to Heraldo Muoz, Chilean ambassador to the UN and chairman of the Security Council Al-Qaeda and Taliban Sanctions Committee to ask exactly how UN…
Paris seminar on the EU accession process
The fifth central bank seminar on the European Union (EU) accession process was held in Paris on 4 and 5 March 2004. The purpose of this seminar was to exchange views on important central banking issues ahead of EU accession.
Hong Kong's foreign currency reserve figures
The Hong Kong Monetary Authority (HKMA) announced on Monday 8 March that the official foreign currency reserve assets of Hong Kong amounted to US$123.5 billion at the end of February 2004.
New law governing the Central Bank of Iraq
Ambassador L. Paul Bremer, Administrator of the Coalition Provisional Authority, announced on Sunday 7 March the issuance of a new law governing the Central Bank of Iraq.