Central Banks
Obituary for Rudiger Dornbusch
OBITUARY - Rudiger Dornbusch, always known as Rudi, died last week at the age of 60. He was one of the most inspirational and innovative academic economists of his generation.
Speech by Fed Reserve Governor Mark Olson, 26 July
SPEECH - In the speech titled 'Economic change in rural America' Olson said that the relatively mild recession suffered by the U.S. last year suggests the recovery won't be all that spectacular. "It is clear we are in a recovery period, but it's also…
Bank of England Working Paper
RESEARCH - On gross worker flows in the United Kingdom: evidence from the Labour Force Survey, by Brian Bell and James Smith.
Speech by Anne Krueger, Dep MD of the IMF, 17 July
SPEECH - In a speech titled 'Crisis Prevention and Resolution: Lessons from Argentina' Krueger said "We have seen some welcome progress in key policy areas, including satisfactory amendments to the insolvency law and the repeal of the economic subversion…
IMF News Brief
NEWS BRIEF - Statement by Kenneth Rogoff on the Death of Rudiger Dornbusch, 26 July.
Fed's Olson - US in recovery but it will be slow
US - The United States is clearly in a recovery but the rebound from last year's brief recession is likely to be slow, Federal Reserve governor Mark Olson said on Friday.
New governor chosen for Uruguay's central bank
URUGUAY - Ruling coalition Senator Alejandro Atchugarry has assumed the post of economy minister and economist Julio De Brun has been chosen to head the central bank. The former economy minister and central bank president resigned citing lack of…
President Mugabe hits out at devaluation advocates
ZIMBABWE - President Robert Mugabe publicly hit out at his Finance Minister Simba Makoni last week, branding him an economic saboteur. He also contradicted Reserve Bank of Zimbabwe governor Leonard Tsumba as cracks within the government widened.
O'Connell swaps central bank for sporting role
FEATURE - Central banks aren't the only ones to hold gold. The Brazilian World Cup football team will tell you that, and they've got plenty in reserves over the years. But CentralBankNet learns that the, oh so, unlucky Irish team are set to receive help,…
Cyprus c bank refutes alleged money laundering
CYPRUS - The Central Bank of Cyprus has refuted allegations in a Financial Times report, published on 25 July, that knowingly it was involved in sanctions busting and money laundering during the years when UN sanctions against Yugoslavia were in force.
Working at the Bank of England
ARTICLE - Got a good head for figures? Then you should consider a career with the Bank of England, reports Monday's Guardian newspaper in the UK.
Senate panel sets hearing on Fed nominees
US - The Senate Banking Committee will hold a hearing on Tuesday on the nominations of Ben Bernanke and Donald Kohn to serve on the Federal Reserve Board, the panel said on Friday.
Top central bankers agree to hold regular talks
SOUTH KOREA - The central bank governors of South Korea, China and Japan have agreed to have regular talks at all future international gatherings, said Bank of Korea (BOK) Governor Park Seung on Monday.
Luck not Greenspan calmed business cycles - study
US - Many have praised the brilliance of Alan Greenspan and his predecessor at the Federal Reserve helm for blunting the most savage swings of the U.S. business cycle. But there's a good chance most of what tamed the booms and tempered the busts was…
BIS Press Release
PRESS RELEASE - BIS consolidated banking statistics for the first quarter of 2002, 26 July.
BIS consolidated international banking statistics
REPORT - The BIS consolidated international banking statistics - first quarter 2002, released 26 July. The statistics highlight a sharp decline in Japanese banks international positions during the first quarter of this year. Over the same period in…
Many hurdles before one African currency - Mboweni
SOUTH AFRICA - Many hurdles would have to be overcome before the newly-formed African Union (AU) could form a single currency for the continent, South African Reserve Bank Governor Tito Mboweni said on Thursday.
Dutch auction won't depreciate Naira, says CBN
NIGERIA - The Central Bank of Nigeria (CBN) has said that contrary to speculation, the newly introduced Dutch Auction System (DAS) in the nation's foreign exchange market would not lead to the depreciation of the naira.
Euro-zone current account moves to surplus in May
GERMANY - The current account for the 12-nation euro zone showed a surplus of 100 million euros (dollars) in May compared with a deficit of 2.2 billion euros in May 2001, the European Central Bank reported Friday.
Cullen calls for RBNZ to copy Australia's c bank
NEW ZEALAND - Finance Minister Michael Cullen has called for New Zealand's central bank to model itself on the Reserve Bank of Australia, which pursues a 2-3% inflation target.
Structural problems must be confronted says Rubin
SINGAPORE - Two of the world's major economies, Japan and the European Union (EU), need vital structural reforms if they are to achieve sustainable growth, former US treasury secretary Robert Rubin said on Thursday.
ECB expansion raises questions of independence
ARTICLE - Will new entrants to the monetary union significantly alter Euroland monetary policy? They could, unless voting rules at the ECB's Governing Council are carefully examined to avoid the possibility of regional bias. Article from the Taipei Times…
IMF-experts: Argentina crisis bottoming out
ARGENTINA - The four monetary experts chosen by the IMF believe Argentina may have touched bottom after four years of recession and see potential for an export-led recovery, an official briefed on the talks said on Thursday.
Japan-style financial crisis looms for Taiwan
ARTICLE - A researcher with the Asian Development Bank Institute said Thursday that indications are Taiwan may be due for a crisis like the one that hit Japan in 1997.