Central Banks
Polish central bank complains about gov't pressure
A report from PAP news agency quotes Poland's central bank chief as describing government pressure to cut interest rates as 'unprecedented'.
CentralBankNet Monday Special Feature
SPECIAL FEATURE - Georgia, a small low-income economy dependent on exports to Turkey and Russia, burdened with the legacy of ethnic conflicts, high external debts and low economic literacy, has nevertheless made striking progress in one important…
Fed's Poole on labour market and economic growth
In a speech on 'The Labor Market and Economic Growth' William Poole of the Federal Reserve Bank of St. Louis said although job creation in the current economic recovery has been nil, he is optimistic about the prospects for future growth of the US…
Ireland's Hurley - A central banker's perspective
In a speech on 'A central banker's perspective of the Irish and international economic situation' John Hurley of the Central Bank of Ireland said the world economy is currently labouring, particularly in regard to asset markets and the geopolitical…
Bank of Japan Monthly Report, April 2003
The Bank of Japan published its Monthly Report of Recent Economic and Financial Developments, April 2003, on 10 April. In the report the BOJ acknowledged that economic activity remained flat. But it was more upbeat about business investment and said…
Gordon Brown on current challenges to the IMF
Statement by Rt Hon Gordon Brown, United Kingdom International Monetary and Financial Committee, Washington D.C., 12 April 2003.
Banking reform in Singapore
Singapore's deputy prime minister and finance minister Lee Hsien Loong talked about banking sector reform, capital raising and foreign competition in an interview with The Banker magazine published 10 April.
Stanley Fischer favourite to head NY Fed?
Sources close to the Fed say former IMF official Stanley Fischer could be favourite to replace William McDonough at the Federal Reserve Bank of New York, according to a Reuters report.
Canada's Dodge urges G7 to boost economies
David Dodge of the Bank of Canada said rich countries should work to boost their economies to prevent further set backs for the world. The National Post reported his statement at the Washington meeting of the Group of Seven finance ministers and central…
Indian gov't considering fourth RBI dep governor
A fourth deputy governor's position could be created at the Reserve Bank of India. According to Business Standard, a senior finance ministry official said the position would carry the responsibility of regulating co-operative banks.
Duisenberg dashes hopes of ECB rate cut
Wim Duisenberg has said more is needed to rebuild consumer and business confidence than another rate cut, according to Business & Finance. He also said there was no serious danger of deflation in either Germany or the eurozone.
Bank of Japan head pledges to fight deflation
Toshihiko Fukui said at the weekend the central bank is ready to act on deflation, Bloomberg reports. He also said that he sensed most participants of the G7 meeting showed strong interest as to what policy stance he will be taking as governor of the BOJ.
Bank of England's George on world economy
Bank of England governor Edward George told reporters at the end of the G7 meeting that the recent fall in oil prices shows uncertainty is being lifted as the war draws to an end, according to a report by Reuters.
Bank of France plans to sell off property
The French central bank plans to sell approximately a fifth of its rented property assets over the next year, reports Le Figaro
Minutes of Japan's Monetary Policy Meeting
Minutes of the Bank of Japan's Monetary Policy Meeting on 4 and 5 March 2003 were released on 11 April. A member of the Policy Board said that the central bank could adopt operations that influenced asset prices as a way of boosting the economy.
RBA's Glenn Stevens on inflation targeting
In a speech on 'Inflation Targeting: A Decade of Australian Experience' Glenn Stevens of the Reserve Bank of Australia said inflation targeting has been a successful model for monetary policy in Australia. It has been associated with lower, less variable…
Central Bank of Iraq - Looters try vault break in
British television on Thursday April 10 broadcast a report from inside the Central Bank of Iraq. A reporter was shown walking amongst upturned desks and debris with papers scattered everywhere and no sign of any staff.
IMF World Economic Outlook, April 2003
The International Monetary Fund has published its twice yearly World Economic Outlook report for April 2003. In the report the IMF said the global economic recovery will remain slow and uncertain even after the war with Iraq, and will be dangerously…
Slovak central bank favours quick EMU entry
The National Bank of Slovakia will push for the country's earliest possible entry into EMU, according to a report by TASR. Speaking at a conference on Wednesday the Bank's vice-governor said the central bank was cooperating with the finance ministry on…
C bank criticism casts doubt on Polish reforms
Poland's fiscal restructuring plan may run into problems after central bank President Leszek Balcerowicz criticised the finance ministry's reform blueprint, according to a report in the Financial Times. The finance ministry said the central bank would be…
Are Asian central banks easing up on derivatives?
An article, first published by Reuters, looks at the relaxation of restrictions on credit derivatives in Asian markets by central banks. Although these countries have traditionally blocked such instruments for fear of harming their exchange rates looser…
Russian central bank invites banks to talk back
the Moscow Times reports that Russia's central bank has started a discussion forum on its web site which aims to establish dialogue with the banking community and improve the quality of central bank decisions.
Fed's Poole: Central bank can be patient
St Louis Fed chief William Poole was reported by Reuters to hacve said hat even though the Federal Reserve is under some pressure to make further cuts in interest rates, markets will automatically compensate by discounting longer term rates taking some…
Ukraine's central banker eyes presidency
The Ukrainian newspaper Ukrayina Moloda, reported on Thursday 10 April that central bank president Serhiy Tyhypko, who has not held the job for more than six months, may be in line for a role in the 2004 presidential campaign - as a candidate.