Central Banks
Play more golf says Tito Mboweni
While CentralBanknet has long been aware of South African Reserve Bank Governor Tito Mboweni's passion for fly fishing, his love of golf came as a surprise to us.
Bernanke speech comments cause surprise
Ben Bernanke, newly-appointed Fed governor and an advocate of inflation targetting, has revealed the Fed's secret weapon in combating the perils of deflation: the printing press.
Japan begins stock purchase policy
The Bank of Japan's programme to buy shares from the country's ailing banking sector officially started Friday, but the bank is being coy about any actual purchases.
Russia central bank forecasts falls in inflation
The Central Bank of Russia [CBR] will conduct its monetary and credit policies proceeding from the assumption that inflation will steadily decline as of next year, from 10-12 per cent expected in 2003 to 8 per cent in 2005.
Welteke suggests ECB rates may be cut soon
A member of the European Central Bank's governing council suggested in comments published Friday that the bank could cut interest rates by as much as half a percentage point next week, more than a year after it last made a change.
Sweden names date for euro referendum
Sweden will hold a referendum on whether to adopt the single European currency, the euro, on 14 September 2003, Swedish Prime Minister Goran Persson said Friday following a meeting of political party leaders.
Bean on the MPC the UK economy, deflation and debt
SPEECH - In the speech 'The MPC and the UK Economy: Should we fear the D-words?' Charles Bean of the Bank of England said that the recent alarmist talk of the threat of global deflation has been overdone. There are good reasons for believing that the US…
Santomero on the economic outlook for the US
SPEECH - In the speech 'Economic Outlook for the U.S. & Delaware' Anthony Santomero of the Federal Reserve Bank of Philadelphia said he believes the U.S. economy's future prospects are good and that the current moderately paced economic recovery will put…
Federal Reserve Board - Beige Book, November 2002
REPORT - The Federal Reserve Beige Book released 27 November said that the US economy's growth in late October and November, was slow, with business conditions across all districts soft and sluggish excluding housing. Capital spending was limited,…
Rebuilding Transmission System for Monetary Policy
RESEARCH - The trouble with Alan Greenspan's handling of the economy, the Financial Markets Center suggests, goes much deeper than an ill-timed interest-rate adjustment or inaccurate staff forecast. It's embedded in the Fed's increasingly antiquated…
ECB may be ready to cut rates - Lucas Papademos
European Central Bank Vice-President Lucas Papademos on Wednesday gave the latest sign the bank was ready to reduce interest rates, saying the improved inflation outlook gave more room for a rate cut. The ECB Governing Council is due to meet on 5…
Rand near year highs ahead of rate news
South Africa's rand hovered near 13-month highs against the dollar as investors waited for the outcome of the central bank's quarterly monetary policy meeting.
Russian premier wants relaxed currency regulation
At Thursdays meeting of the cabinet, Russian Prime Minister Mikhail Kasyanov stressed the need to liberalise currency regulation in the country. As we reported Wednesday, the proposal has divided politicians and the central bank with the latter calling…
Ukrainian central bank chief under pressure to go
Rumblings at Ukraine's national bank continue as the chairman, speaking on Thursday, said he had not been asked to resign and parliament had refused presidential requests to dismiss him.
US economy grew slowly in October, November
The U.S. economy remained sluggish in late October and early November, with districts cautiously optimistic about the outlook, the Federal Reserve revealed Wednesday in its regular Beige Book.
Egypt central bank sets new monetary policy plan
Egypt's central bank governor has announced details of instruments that would be introduced under a new monetary policy which would encourage greater transparency in the market. Earlier in October we reported that Egyptian President Hosni Mubarak was set…
Battellino on Australian bonds issued offshore
SPEECH - In the speech 'Why do so Many Australian Borrowers Issue Bonds Offshore?' Ric Battellino of the RBA said motives included the greater range of investors overseas and differences in the state of development between the Australian and US corporate…
Hamalainen on The euro - a world currency
SPEECH - In the speech 'The euro - a world currency' Sirkka Hamalainen of the ECB said that although price stability is necessary for a healthy economy and a competitive currency, on its own it is not sufficient. She said all the Member States that have…
Jenkins on dealing with economic shocks
SPEECH - In the speech 'How the Bank of Canada Helps Canadians Deal with Economic Shocks' Paul Jenkins reviews the ways in which the Bank of Canada protects the domestic value of the Canadian currency through the conduct of monetary policy. He then…
Stelmakh says politics behind upcoming dismissal
INTERVIEW - In an interview the beleaguered Ukrainian national bank chairman Volodymyr Stelmakh says his expected dismissal is all down to politics and puts the blame firmly with former Prime Minister Anatoliy Kinakh.
Kazakh national bank to pay 50 per cent less tax
The profits tax paid to the state budget by the Kazakh National Bank will be 50 per cent down in 2002 on the 2001 figure, it was reported on 25 November, quoting the bank's chairman, Grigoriy Marchenko.
Bank of England Press Release
PRESS RELEASE - Following the announcement that Mr Mervyn King will replace Sir Edward George as Governor of the Bank of England when he retires at the end of June 2003, Sir Edward welcomed the appointment on Wednesday.
Biography - Mervyn Allister King
Mervyn King is the Deputy Governor of the Bank of England responsible for monetary policy, and a member of the Monetary Policy Committee.
Mervyn King named next governor of Bank of England
The announcement was made on Wednesday that Sir Edward George will be replaced by the current deputy governor for monetary policy, Mervyn King when Sir Edward steps down in June 2003.