Central Banks
Economic Perspectives, Fourth Quarter 2002
REPORT - The Federal Reserve Bank of Chicago has published its regular quarterly journal of in-depth articles reporting on the Bank's economic research for the Fourth Quarter 2002. This edition includes an article 'Sorting out Japan's financial crisis'.
HKMA Quarterly Bulletin, November 2002
REPORT - The Hong Kong Monetary Fund has published its Quarterly Bulletin for November 2002. The issue includes feature articles on 'The impact of China's accession to the World Trade Organisation on Asia', 'Preserving monetary stability in the face of…
ECB's Duisenberg wins award after euro launch
An awards ceremony Tuesday gave ECB president Wim Duisenberg the title of "Business Leader of the Year" after the successful launch of the euro. There was also a somewhat tongue in cheek prize for Romano Prodi.
Afghan notes switch proceeding despite problems
ARTICLE - The switchover of bank notes in Afghanistan continues as the war ravaged country attempts to stabilise the weak economy. Deputy central bank governor Isa Turab described the operation as "proceeding well despite logistical problems".
China central banker vows to tackle deflation
China's central bank chief vowed on Wednesday to focus on preventing deflation, a persistent economic scourge which some fear could spread to other Asian nations and undermine regional growth.
Potential to boost trade between Islamic states
A conference on Islamic banking and finance by the World Bank, is set to take place in Bahrain on 2 and 3 March 2003. The line-up of speakers includes three central bank governors and top officials from various regulatory authorities.
HKMA set for reshuffle as top executives leave
The Hong Kong Monetary Authority faces a management reshuffle with two deputy chief executives leaving next month and a third reportedly ready to go in March, officials said Wednesday. In a press release, which confirmed one of those to leave, Joseph Yam…
Central Bank of Sri Lanka signs RTGS deal
Logica announced Wednesday that it has signed a deal worth US$9 million to implement the Real Time Gross Settlement (RTGS) System and the Scripless Securities Settlement (SSS) System for the Central Bank of Sri Lanka (CBSL).
Hong Kong Monetary Authority Press Release
PRESS RELEASE - Departure of Mr Tony Latter and Mrs Marian Li, 3 December.
'Tis the season to read Bollard- between the lines
ARTICLE - CentralBankNet hears that the recently appointed governor of the Reserve Bank of New Zealand, Alan Bollard, has taken it upon himself to design the Bank's christmas card. He used to do this when he worked at the Treasury and speculation has…
Duisenberg on economic and monetary developments
TESTIMONY - In testimony before the European Parliament Wim Duisenberg of the ECB welcomed new proposals by the EU to reform the euro zones much criticised Stability and Growth Pact telling the economic and monetary affairs committee that the proposals…
BOJ Suda - Need to watch impact of loan clean-up
As the Bank of Japan begins its stock purchase scheme Miyako Suda said in a speech that how bad loans are dispersed and the impact on the economy must be watched carefully.
Central Bank of Brazil COPOM Minutes
MINUTES - The Banco Central Do Brasil has published the minutes of the 78th meeting of the Monetary Policy Committee (COPOM), 19 and 20 November. The Committee decided unanimously to increase the Selic rate to 22% in light of increased inflation…
Issing on the euro after four years and deflation
SPEECH - In the speech 'The euro after four years: is there a risk of deflation?' Otmar Issing of the ECB said stagflation was a bigger threat to the euro zone than deflation. This he said, "deserves much more attention than the risk of deflation". In a…
Knight- The Canadian economy North America context
SPEECH - In the speech 'The Canadian Economy in a North American Context' Malcolm Knight of the Bank of Canada discusses the current economic situation in Canada, how that relates to U.S. economic developments, and the overall implications for Canadian…
Gjedrem on monetary policy in an open economy
SPEECH - In the speech 'Monetary policy in an open economy' Svein Gjedrem of Norges Bank said it is a challenge to stabilise developments in the Norwegian economy when it is so closely integrated in the world economy but the economic system in Norway has…
Practical Issues Arising from the Euro
REPORT - The Bank of England has published the latest in its twice yearly series 'Practical Issues Arising from the Euro' for November 2002. Part 1 reports on the UK's performance as a euro financial centre since the launch of the euro at the beginning…
Interview with Swedish PM on the euro referendum
INTERVIEW - Following the recent announcement that Sweden will hold a referendum on euro entry next year, Prime Minister Goran Persson spoke to Swedish radio on the topic. In the interview he said the exact wording of the question would be decided later…
Review of the international role of the euro
REPORT - The European Central Bank published its annual review of the international role of the euro on 2 December. The main findings are that the euro is the second most widely used currency internationally and its role is still growing, albeit…
ECB chief says euro zone inflation risks falling
Duisenberg's comments on Tuesday, in testimony to the European parliament, seem to strengthen feeling that the ECB will cut interest rates when it meets on Thursday. The futures market seems certain of at least a quarter point cut with a fifty per cent…
Bank of Canada Press Release
PRESS RELEASE - Bank of Canada keeps target for the overnight rate at 2 3/4 per cent, 3 December.
Bank of Canada leaves interest rates steady
Canada has bucked the global trend recently with interest rate hikes. The decision on Tuesday that the Bank will leave rates at the current 2.75 per cent comes after recent comments by David Dodge that an ease in economic growth over the next three…
Eichel insists Germany will lower deficit
The EU's Stability and Growth Pact received some much needed support with Germany's Finance Minister Hans Eichel on Tuesday insisting that Germany would ensure its budget deficit next year came in below 3pc of GDP.
Argentine government eases banking freeze
President Eduardo Duhalde eased a 1-year-old partial banking freeze on Monday, allowing Argentines unfettered access to their checking and savings accounts.