Central Banks
The Fed's Mark Olson on Urban Revitalization
SPEECH - In the speech 'Urban Revitalization: Shared Responsibilities' made on 22 October, Mark Olson of the Federal Reserve Board said that the history of community development policy and finance has been characterized as difficult, but it provides…
Blattner on the euro and what it means for the SNB
SPEECH - In the speech 'The Euro: Implications for Switzerland and for the Monetary Policy of the Swiss National Bank' made on 22 October, Niklaus Blattner of the Swiss National Bank said Switzerland's experience of the euro has, so far, been mainly…
Bank of Canada Press Release
PRESS RELEASE - Bank of Canada releases its October Monetary Policy Report, 23 October.
Dodge - Opening statement to finance committee
SPEECH - Opening statement by David Dodge, Governor of the Bank of Canada, before the House of Commons Standing Committee on Finance, 23 October 2002.
Bank of Canada Monetary Policy Report
REPORT - Bank of Canada released its October 2002 Monetary Policy Report, 23 October. In the report the Bank of Canada said the Canadian economy has undergone a strong expansion with more rapid growth than all other G-7 countries over the past year…
House boom 'should not deter Bank' from rate cut
ARTICLE - The house price boom should no longer stand in the way of a cut in interest rates, according to Stephen Nickell, the longest-serving external member on the Bank of England's monetary policy committee.
Manuel calls for SARB inflation target review
SOUTH AFRICA - Finance Minister Trevor Manuel has suggested politicians and other interested parties hold a discussion on inflation targeting once Statistics South Africa has completed its study on the country's target measure, CPIX.
Sri Lanka c bank predicts sharp drop in inflation
SRI LANKA - The Central Bank (CB) has forecast a sharp drop in the annual average inflation by the end of 2002 with the foreseeable continuation of the present ceasefire in the North.
Malaysia pushes for 'gold dinar'
MALAYSIA - Malaysia will set up a secretariat to study and promote the use of the gold dinar as currency for international trade if the cabinet agrees, Prime Minister Mahathir Mohamad said yesterday.
Treasury-central bank rift in Israel
ISRAEL - For the first time in decades, the Prime Minister's Office, the treasury and the Bank of Israel did not jointly publish the national forecast together with the publication of the 2003 budget. The disagreement is testimony to the difficult…
Brazil's finance chiefs upbeat on life under Lula
BRAZIL - Brazil's economic authorities have held out the possibility of a significant recovery in the country's battered financial markets following a likely leftwing victory in Sunday's presidential run-off election.
BOK urged to focus on long-term inflation target
KOREA - The central bank should set its inflation target on a medium- or long-term basis rather than on an annual basis to maintain price stability more effectively, economic experts said at a seminar on inflation held at the Bank of Korea (BOK) in…
Takenaka apology leaves bank reform in turmoil
JAPAN - Confusion over Japan's proposed banking reform deepened yesterday as Heizo Takenaka, this month empowered by Junichiro Koizumi, the prime minister, to clean up the financial system, apologised to parliament for remarks suggesting that no company…
Alan Greenspan on productivity
SPEECH - In the speech 'Productivity' made on 23 October, Alan Greenspan of the Federal Reserve said given the difficult adjustments that the US economy has been undergoing, long-term productivity optimism may currently seem a bit out of place. But, he…
Trichet on european economic integration outlook
SPEECH - In the speech 'European economic & financial integration : what is the outlook?' made on 1 October, Jean Claude Trichet of the Banque de France said the euro and the combined effects of recommendations made in the Lamfallussy Report will make…
Federal Reserve Board - Beige Book, October 2002
REPORT - The Federal Reserve Beige Book released 23 October showed that the US economy is struggling to get out of the sluggishness which has now infected retail sales. The report shows the housing market to be the one bright spot in an otherwise weak…
ECB Press Release
PRESS RELEASE - Statement of the Governing Council on the Stability and Growth Pact, 24 October 2002.
ECB Press Release
PRESS RELEASE - The long-term evolution of TARGET, 24 October 2002.
Second ECB Central Banking Conference
CONFERENCE - The transformation of the European financial system, Frankfurt, 24 and 25 October 2002.
Expectation increases of UK interest rate cut
UK - The odds against a cut in interest rates before the end of the year have shortened sharply after it emerged that three members of the Bank of England's monetary policy committee voted for a cut earlier this month.
Takenaka faces no-confidence vote in Japan
JAPAN - Heizo Takenaka, Japan's embattled economic czar, will today face a parliamentary vote of no confidence as the opposition tries to exploit a clash within the ruling Liberal Democratic party over how to tackle the country's banking crisis.
US economy still stuck in doldrums
US - The US economy is struggling to break out of the doldrums, with widespread sluggishness infecting retail sales, according to a regular survey of business conditions by the Federal Reserve.
Lobby group warns UK on delaying euro entry
UK - Eight out of the 10 states poised to join the European Union could be ready for euro membership by 2007, increasing the risk that the UK will be isolated unless it joins soon, according to Britain in Europe.
Canada's c bank warns of spike in inflation
CANADA - The Bank of Canada said Wednesday economic growth will be lower than expected in the short term but inflation could still double the bank's target by year-end, as Canada continues to be pulled in opposite directions by uncertain global markets…