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Central Banks

Asset Prices and Inflation Targeting

RESEARCH - Asset Prices on a Flexible Inflation Targeting Framework by Stephen G Cecchetti, Hans Genberg and Sushil Wadhwani, April 2002. Prepared for the conference on "Asset Price Bubbles: Implications for Monetary, Regulatory, and International…

Philippines - Derivatives supervision tightened

PHILIPPINES - The Philippine Central Bank has tightened its supervision of the derivatives market by requiring the affiliates of all financial institutions to seek approval from the monetary authority before undertaking such transactions.

When an ATM is an alien concept

FEATURE - It is only an ATM (automatic teller machine), but it might as well be an alien spacecraft, crash landed in central Vientiane. People do not know what to make of it - which is understandable when you consider that this is the first ATM in Laos.

ECB sees upturn but slower CPI decline

GERMANY - The European Central Bank on Thursday maintained its assessment that the euro zone economy was recovering but said high oil prices could lead to slightly higher inflation than predicted earlier this year.

Gold market calmer on Welteke reassurance

GERMANY - The gold market was reassured by the statement made by Bundesbank President Ernst Welteke on Thursday that the international agreement limiting gold sales by central banks was worth extending once it expired at the end of 2004 and that any…

Polish MPC member says gov't missed reform chance

POLAND - A member of Poland's ten strong Monetary Policy Council, Boguslaw Grabowski, has said that Poland's leftist government missed a great opportunity to make deep fiscal and structural reforms in the first months after taking power last October.

Norges Bank keeps interest rates unchanged

PRESS RELEASE - Interest rates were left unchanged at Norges Bank's Executive Board meeting on 10 April. Norges Bank's key interest rate, the sight deposit rate, therefore remains at 6.50 per cent. The overnight lending rate also remains unchanged.

Japan cautioned by IMF on deflation fight

JAPAN - The International Monetary Fund Tuesday cautioned the Japanese Government not to slacken its efforts to combat deflation and structural problems, warning that additional steps were necessary to combat serious weaknesses in the world's second…

Bank's inner circle and its Outer Mongolia

FEATURE - The Bank of England is the City's Kremlin. From time to time figures appear on the balcony above its windowless walls, and the watchers must try to calculate whose stock is up and who has been posted to Outer Mongolia. There is no doubt that…

Greenspan's heir apparent stays cryptic

FEATURE - Judging by his refusal to provide a direct answer to a straightforward question, John Taylor is on track to become the next chairman of the US Federal Reserve writes Stephen Romei in The Australian on Monday.

Speech by Eva Srejber of Sveriges Riksbank, 9 Apr

SPEECH - In the speech titled 'Experiences from the cash changeover in the euro area' Srejber says we have alot to learn from the twelve countries who have already implemented the introduction of the euro and this will be of considerable assistance in…

Speech by Sheryl Kennedy of Bank of Canada, 5 Apr

SPEECH - In a speech titled 'The Bank of Canada's Contribution to the Canadian Economy' Kennedy said that the central bank and economy have come through some major international financial disturbances recently and some valuable lessons have been learned…

Wim's wait

FEATURE - The European Central Bank is extending its "wait and see" policy from interest rates to the equally delicate matter of high-level appointments, reported Friday's FT in London.

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