Central Banks
ACU central bank governors tour software company
After a busy day of negotiations central bank governors of the eight countries in the Asian Clearance Union visited software major Infosys Technologies, according to The Hindu.
Kansas City Fed gets approval to move to new HQ
President Thomas M. Hoenig of the Kansas City Fed said on Monday 16 June that the Federal Reserve had approved plans for an estimated $200 million project to build a new headquarters for the Federal Reserve Bank of Kansas City, according to the Kamsas…
Serdengecti on an overview of the Turkish economy
In a speech made in London Wednesday 18 June, Sureyya Serdengecti of the Central Bank of Turkey said formal inflation targeting will be adopted when conditions allow. Including a favourable internal environment, sustained fiscal discipline, reduction in…
No serious SARS impact on financial sector: PBOC
The People's Bank of China has said there is no indication of a severe impact by the SARS virus on China's financial secto, according to a report by the People's Daily.
Minneapolis Fed president upbeat about economy
Gary Stern of the Minneapolis Fed said he thinks there is a low probability of deflation in the US, but would not rule it out, according to Associated Press. The problem in Japan, he said, is inadequate growth of the money supply and allocation of too…
C bank governors to attend ACU meeting
Central bankers from the eight members of the Asian Clearing Union will meet to discuss the future of the union and admitting new members, according to NDTV The objectives of ACU include conservation of Forex and the promotion of monetary cooperation…
MPC recruit Lambert urges UK Treasury drop secrecy
The most recent member of the Bank of England's monetary policy committee called for openness and transparency in the selection process of appointees to the MPC when facing the Treasury select committee on Monday 16 June, according to a report by the…
Japan's support for inflation targeting grows
Minutes of the Bank of Japan's April meeting published on Monday 16 June showed that at least two of the BoJ's nine policy board members favour the introduction of a "reference rate of inflation" to halt deflation, according to a report in the Financial…
Banco de Mexico sues over loans
The central bank of Mexico announced on Monday 16 June that it had sued four of the country's largest banks to release information related to bad loans during the mid-1990s peso crisis, according to Reuters.
New governor of Bulgarian national bank by Friday
Bulgaria's parliament is now expected to name the new governor of the central bank by the end of the week, according to Novinite. The further delay stems from the need to find a third candidate as "two candidates for Governor is no choice at all," the…
Interview with Bank of England's Stephen Nickell
UK inflation has peaked and will soon head lower, Bank of England Monetary Policy Committee member Stephen Nickell told Reuters in an interview on Tuesday 17 June. He also played down the importance of the government's plan to switch the Bank's inflation…
Fed Reserve Bank of New York - Annual Report 2002
The Federal Reserve Bank of New York has published its Annual Report for the year ended 2002.
Norges Bank - Annual Report 2002
The Norges Bank has published its Annual Report for the year ended 2002.
Fabritius on central banks role in payment systems
In a speech on 'The evolving role of central banks in payment systems: service providers and/or overseers?' Hans Georg Fabritius of the Deutsche Bundesbank said there are two main developments which are already identifiable but which will require further…
Large on convergence in insurance and banking
In a speech on 'Convergence in Insurance and Banking: Some Financial Stability Issues' Andrew Large of the Bank of England said the data deficiencies we confront today where the actual location of risk is so opaque is a major challenge. Better…
Bank of Estonia - Annual Report 2002
The Bank of Estonia has published its Annual Report for the year ended 2002.
ECB's Issing not worried by euro rise - Report
Rather than being overvalued the euro is, in European Central Bank chief economist Otmar Issing's view, "above all" a correction of its previous undervaluation, he told Der Spiegel magazine.
Rate commitment could hit Fed credibility-Broaddus
Richmond Fed president Alfred Broaddus has warned the Federal Reserve may lose credibility if a commitment to hold interest rates down to fight deflation becomes difficult to maintain due to an unexpected shift in the economy's fortunes, according to…
Iraq shadow over the BIS?
Some European central bankers are said to be unhappy with the recent appointment of Roger Ferguson as head of the Financial Stability Forum. It is not that Ferguson is thought to lack qualifications for the job - quite the contrary, there is much respect…
Shift at the FSF
But so far as the FSF goes, there is more to the criticism than sheer old European bloody-mindedness. The appointment does signal a shift.
Basel bunkum
No one understands the new Basel accord. Grown men are reduced to tears when they try. There are simply too many details for any one person to digest. But it is troubling indeed to learn that people don't even seem to understand how it was arrived at in…