Central Banks

Euro 'would boost UK by ending volatility'

UK - Entry into the euro would boost investment in Britain by ending exchange rate volatility in Britain's dominant export market, according to a paper published by the National Institute of Economic and Social Research on Thursday.

Kohler urges caution amid market volatility

ARTICLE - Horst Kohler gave an interview to the London Financial Times on Thursday in which he said that the biggest risk in today's uncertain financial markets is to "give the wrong signals and exaggerate problems so that they become a self- fulfilling…

Speech by Yutaka Yamaguchi, Bank of Japan, 3 July

SPEECH - In a speech titled 'Central Banking in Uncharted Territory' Yamaguchi said that "the US dollar reached its peak in January and has been depreciating significantly since then. Such a forex rate movement reflects these changes in global capital…

ECB Press Conference

PRESS CONFERENCE - Introductory statement, Willem F. Duisenberg, President of the European Central Bank, Lucas Papademos, Vice-President of the European Central Bank, Luxembourg, 4 July.

IMF Working Paper

RESEARCH - On the Origins of the Fleming-Mundell Model, Working Paper by James M. Boughton, Policy Development and Review Department, June 2002.

Brazil bank acts to boost Real

BRAZIL - Brazil's central bank said yesterday it would inject $1.5bn (£976m) into the currency market this month to help steady the Real, which has fallen to a record low amid uncertainties ahead of October's presidential elections.

ECB holds rates steady

GERMANY - The European Central Bank's governing council decided on Thursday to leave the eurozone's benchmark interest rate unchanged at 3.25 per cent.

Germany clears way for new bank rules

GERMANY - The major remaining barrier to a global shake-up of bank reserves has been removed after the German government agreed to a politically-sensitive compromise over lending to small companies.

Speech by W. McDonough, New York Fed Bank, 2 Jul

SPEECH - In a speech titled 'The importance of central bank independence in achieving price stability' McDonough extolled the virtues of central bank independence and reiterated the importance of maintaining price stability for an economy.

Open letter by Kenneth Rogoff to Joseph Stiglitz

LETTER - An open letter by Kenneth Rogoff, Economic Counsellor and Director of Research, International Monetary Fund, to Joseph Stiglitz, author of Globalization and Its Discontents (New York: W.W. Norton & Company, June 2002), Washington D.C., 2 July.

Speech by Wim Duisenberg, ECB President, 2 Jul

SPEECH - Duisenberg said in his introductory statement to the European Parliament "I have seen some worrying developments in fiscal policy in some countries in the last few months," adding that it was vital that all countries had their budgets close to…

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