Central Banks
Higher inflation 'all pain and no gain'
ARTICLE - "By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens" - JM Keynes. Leftists often look to Keynes. So what's Finance Minister Michael Cullen's game in his…
Hits and myths of Europe's new currency
ARTICLE - One industry lost out from the introduction of euro notes and coins six months ago: the doom-mongers, reports Monday's FT in London.
Study claims UK's 5 euro tests are already met
UK - The government's five economic tests for UK entry to the euro have already been met, according to a new academic study.
European Central Bank Publication
REPORT - Task force on portfolio investment collection systems, Final Report, June 2002.
Speech by Eduardo Aninat, Dep MD, IMF, 20 Jun
SPEECH - In a speech titled 'The Economic Foundations of Peace in Colombia' Aninat said it was his sincere hope that the new administration will be able to find ways to mobilize the multiple talents and goodwill of the Colombian people, and put the…
Minutes of the Federal Open Market Committee
MINUTES - The Federal Reserve Board on Thursday released the minutes of its Federal Open Market Committee Meeting of 7 May 2002, released 27 June.
Speech by Svein Gjedrem of Norges Bank, 17 Jun
SPEECH - Gjedrem said in a speech titled 'The Norwegian economy and monetary policy' that the Norwegian economy displays a number of strong features. Government finances are solid and foreign trade is performing well. Household finances are generally…
Deutsche Bundesbank Monthly Report, May 2002
REPORT - Germany's central bank has released its Monthly Report for May 2002.
Japan's experience should warn central banks
LETTER - Letter published in the London Financial Times on 27 June from William Smyth.
Armenia to reinforce protective features of notes
ARMENIA - From 1 July 2002, the Central Bank of Armenia will put into circulation 1,000-dram banknotes with an enhanced protection system and a number of changes in its design.
Soros says central banks should bailout Brazil
ARTICLE - In the wake of the current economic crisis in Brazil, George Soros has said that leading central banks should open their discount windows and refinance the holders of Brazilian debt. Indeed, he expressed surprise that central banks had not…
Intervention pushes dollar back above 120
UK - The dollar surged back over 120 against the yen on Friday and made headway against the euro after Japan's finance ministry confirmed it had asked other central banks to intervene on its behalf to help weaken the Japanese currency.
Has the fourth euro entry test already been passed
UK - In all the coverage of Gordon Brown's Mansion House speech on Wednesday night, it went largely unnoticed that he had in effect declared that one of the five tests for euro entry had been passed. Friday's Financial Times picked up on the story.
Speech by Edward George, Bank of England, 26 Jun
SPEECH - In his annual Mansion House speech George gave a strong signal that interest rates would not be raised at next week's meeting of the Bank of England's monetary policy committee and welcomed the fall in the pound against the euro.
Reserve Bank of New Zealand Bulletin, June 2002
REPORT - The Reserve Bank released the June 2002 issue of the Reserve Bank of New Zealand Bulletin on Thursday.
Federal Reserve Board Press Release
PRESS RELEASE - The Federal Open Market Committee decided today to keep its target for the federal funds rate unchanged at 1 3/4 percent, 26 June.
ECB statistical press release
PRESS RELEASE - Monetary developments in the euro area, May 2002 released 27 June.
Bank of England Financial Stability Review
REPORT - Bank of England Publishes Financial Stability Review, Issue 12, June 2002, 27 June.
27th Annual Economic Policy Conference
CONFERENCE - Federal Reserve Bank of St. Louis, Finance and Real Economic Activity Conference, 7-8 November 2002.
Argentine central bank may issue up to 7 bln pesos
ARGENTINA - The central bank's new chairman, Aldo Pignanelli, has drafted a new monetary plan under which the central bank will issue up to 7 bln pesos to rescue commercial banks experiencing liquidity problems, newspaper Clarin reported.
Russian Duma overrides bank law veto
RUSSIA - Russia's State Duma has overridden the Federation Council's veto on the law on the Central Bank [CBR], with 389 deputies voting for the original version of the bill, while 300 votes would be enough to make the decision.