Central Banks
IMF reviews book on ME monetary policy
IMF review of 'Monetary Policy and Exchange Rate Regimes - Options for the Middle East', edited by Elina Cardoso and Ahmed Galal
G10 report on collective action clauses
G10 ministers and governors have approved the publication of a report setting out the key features of collective action clauses for sovereign bonds designed to contribute to the more rapid and orderly resolution of debt crises.
Finance and economics of Papua New Guinea
In a speech at the 38th SEACEN Governor's Conference in Manila in February, the governor of the Bank of Papua New Guinea, L Wilson Kamit, CBE, offered his overview of financial and economic developments in the country.
Norges Bank: new version of 100-krone note
Norges Bank is to put a new version of the 100-krone note into circulation on 25 March to safeguard against counterfeiting.
ECB's Issing downbeat on 'sluggish' euro growth
Speaking to the EU Parliament, the ECB 's chief economist, Otmar Issing observed that economic growth in the eurozone is expected to be 2% for the year, thoough this will put downward pressure on inflation, according to Reuters
Bank of England Quarterly Bulletin, Spring 2003
REPORT - The Bank of England released its Quarterly Bulletin, Spring 2003, on 21 March. The Bulletin includes an article on "Monetary policy and the zero bound to nominal interest rates" which suggests that a deflation situation is highly unlikely to…
Bank of Canada - Annual Report 2002
ANNUAL REPORT - The Bank of Canada has published its Annual Report for the year ended 2002.
Bank of Canada confident inflation will edge down
The Bank of Canada published its annual report for 2002 on Thursday 20 March and struck a confident note on inflation. Within a year the rate is expected to fall back to around two percent, the report said. Governor Dodge reflected on the Canadian…
BoE: deflation spiral 'unlikely to hit Britain'
The Bank of England's quarterly bulletin published on Friday March 21 suggested that Britain was likely to avoid a deflationary cycle and that the zero bound for interest rates would not be tested, noted the Financial Times
US plans to seize Iraqi assets worldwide
Funds held worldwide by the Iraqi government will be seized and transferred to the New York Federal Reserve for holding, according to a BBC report. This includes money held under the names of the Central Bank of Iraq and the State Organization for…
Polish central bank may use reserves to repay debt
It is reported by the PAP news agency that, after first denying the suggestion, the Polish central bank will hold talks with the finance ministry on using central bank reserves to repay foreign debt.
Duisenberg to stay on at ECB?
Luxembourg's prime minister Jean-Claude Juncker said on his way to the EU Brussels summit starting on Friday night, March 21,that Wim Duisenberg could stay on, in his view, while uncertainty over his successor remains. Online reported him as saying that…
EC to consider war when evaluating Pact
Romano Prodi has indicated that war in Iraq will be taken into account when the European Commission assesses member countries' deficits under the stability and growth pact, according to a BizWorld report.
Bank of Canada appoints Desjardins to board
Jean-Guy Desjardins has been appointed to the board of directors of the Bank of Canada and will take up the position immediately, according to a report in the Toronto Star
ECB vote reform OK'd at EU summit
EU leaders agreed the proposal from the European Central Bank to reform the voting arrangements of its Governing Council, a spokesman for EU presidency holder Greece said on Friday.
Transatlantic rift not hurting central banks
Jean-Claude Trichet said on Thursday that the widening political rift between certain European countries and the US would not affect the transatlantic working relationship between central banks.
ECB ready to react to disturbances
The ECB reassured on Thursday that it was ready to react in the event of financial market disturbances after the start of military action against Iraq.
BoJ statement on the military action against Iraq
Statement made Thursday by the governor of the Bank of Japan at the onset of war hostilities.
Deutsche Bundesbank Monthly Report, February 2003
REPORT - The Bundesbank said in its February 2003 monthly report the recovery of the world economy slowed down noticeably in autumn 2002 even grinding to a halt in industrial countries. The report says this picture has changed little since the turn of…
Fukui taking charge
ARTICLE - This article looks at some of the pressures that will face the new governor of the Bank of Japan as he begins his term. As Toshihiko Fukui takes the BOJ helm, he faces an even more difficult economic situation than that confronted by Hayami,…
Israel's Treasury blasts central bank policy
A brochure published by Israel's Finance Ministry blames the central bank for much of the malaise dogging the country's economy. The brochure also described the Bank of Israel's monetary policy as "too restrictive".
Can Fukui pull isolated BOJ in from the cold?
ARTICLE - This article asks whether Fukui will tread his own monetary policy path in an effort to rid Japan of deflation and adopt unorthodox measures which Masaru Hayami steadfastly resisted.
ECB Press Release on the war in Iraq, 20 March
Statement of the ECB's Governing Council following the start of military action in Iraq, 20 March.
Ignatyev - Reserves to prevent ruble fluctuation
During a working meeting with the President of Russia, central bank chairman Sergei Ignatyev said that the Bank's foreign currency reserves will make it possible to prevent major fluctuations in the ruble exchange rate in the near future.