Central Banks
The Fed's only woman
ARTICLE - An interesting article published by the Buffalo News on Saturday gives an insight into Susan Schmidt Bies of the Federal Reserve Board. Among other things the article reveals Bies is a qualified soccer referee and at first qualified as a…
Duisenberg wants to be succeeded by 'clone'
After the recent shake ups in central bank presidencies we now hear that ECB chief Wim Duisenberg has said a clone of himself would be the best choice to succeed him next year. Jean-Claude Trichet of France is the frontrunner.
Indian bank unveils first mobile ATM
ICICI Bank has taken technology one step further with the launch of its first mobile automated teller machine (ATM). The bank has got the Reserve Bank of India (RBI) approval for the mobile ATM in Punjab. "We have also applied for mobile branch licences…
Dollar at lowest level against euro since Jan 2000
The dollar plunged to its weakest level in almost three years against the euro and fell against the yen after a U.S. government report on declining producer prices raised concerns profit growth will slow.
Argentina confirms default of World Bank debt
Debt-ridden Argentina confirmed it has defaulted on its US$726 million payment due to the World Bank. The default was prompted by fears that payment could reduce central bank reserves to zero over the next few months.
BoJ needs deflation fighter: Koizumi
Japanese Prime Minister Junichiro Koizumi wants the replacement for Bank of Japan governor Masaru Hayami to focus on combating the economy's persistent deflation.
Baghdad puts out the welcome rug for banks
Iraq, under economic sanctions for 11 years and faced with the threat of attack by the US, is trying to attract foreign banks to the country. That's the message Issam Racheed Hwaish, governor of the Iraqi Central Bank, laid out at the weekend as he…
Remsperger on Germany at the Crossroads
SPEECH - In the speech 'Germany at the Crossroads' Hermann Remsperger of the Deutsche Bundesbank said with regard to wage rate policy, the Bundesbank repeatedly makes clear that the rate of inflation in Germany is lower than the euro-area average. The…
Solans on accession country financial developments
SPEECH - In the speech 'The relevance of financial sector developments for accession countries' Eugenio Domingo Solans of the ECB said although a new era of financial development in accession countries is now in full swing, the challenges ahead are still…
Interview - Toshihiko Fukui, former dep gov of BoJ
INTERVIEW - The Bank of Japan will maintain a bias toward easing monetary policy to avert any concerns of tightening liquidity in financial markets and promote expectations of a stable financial environment, a front-runner in the race to be the next BOJ…
Brazil appoints new central bank chief
Luiz Inacio Lula da Silva, Brazil's leftwing president-elect, who takes office on January 1, on Thursday nominated experienced Harvard-trained banker, Henrique Meirelles, to head the central bank.
Friedman named as Bush's chief economic adviser
The White House on Thursday announced Stephen Friedman, the former chairman of Goldman Sachs, as chief economic adviser to president George W. Bush. He replaces Larry Lindsey who was a former Federal Reserve governor.
China seeks outside help to develop debt markets
China has contacted the World Bank and Asian Development Bank to gauge their attitude toward helping develop fledgling Chinese debt markets by launching the first renminbi-denominated bonds to be issued by a foreign institution.
Britain doing well without the euro
LETTER - A letter from the Director of the Centre for Policy Studies rejecting the idea that Britain must join the euro, asks if an improvement in Britain's wealth relative to her main European competitors may have something to do with Britains exclusion…
Bank of Japan optimistic in Tankan report
The business outlook among Japanese companies improved in the October-December quarter, although that sentiment is not expected to last in months ahead, according to a central bank survey released Friday by the Bank of Japan.
Wim Duisenberg reflects on the euro's 1st birthday
INTERVIEW - It's now been nearly a year since the Jan. 1 introduction of the euro. In an interview with Deutsche Welle Radio on Friday, the president of the European Central Bank takes stock of the euro's success.
No need to raise bank insurance cap - Fed's Olson
Federal Reserve Governor Mark Olson on Friday reiterated the U.S. central bank's opposition to raising the current $100,000 cap on insured bank deposits, saying such a move is not needed.
The high cost of resisting the euro
ARTICLE - In an article the chief economist of the pro euro lobby group, Britain in Europe, says Britain is paying a rising price for excluding itself from the euro.
Minutes show Fed worried over deflation
The Federal Reserve cut interest rates last month as extra insurance against deflation and the chance that the economy's stumble this summer could become something worse, according to Fed meeting minutes released on Thursday.
Bank of England Financial Stability Review, Dec 02
REPORT - The Bank of England published its Financial Stability Review for December 2002, Issue 13, on 12 December. It contains the Bank's regular half-yearly assessment of risks to financial stability, together with a number of articles including " The…
ECB Monthly Bulletin, December 2002
REPORT - The European Central Bank published its December 2002 Monthly Bulletin on 12 December. In the report the ECB says the decision of its Governing Council to reduce interest rates last week reflected their assessment that the evidence has increased…
Spillenkothen on the lessons of Enron
SPEECH - In testimony 'Oversight of investment banks' response to the lessons of Enron' Richard Spillenkothen, Director, Division of Banking Supervision and Regulation said the fallout from the recent round of excesses and large corporate defaults…
Bank of Brazil, Focus Report
REPORT - Focus Report on Consumer Price Inflation in November, 11 December.
Central Banker, Winter 2002
REPORT - The Winter 2002 edition of the St. Louis Fed's Central Banker magazine has been published. This edition includes articles on the new senior vice president in the Banking Supervision and Regulation Division at the St Louis Fed, Julie Stackhouse…