Central Banks
Backstrom: Sweden's economy is slowing down
SPEECH - Governor Urban Backstrom of Sveriges Riksbank, the Central Bank of Sweden, gave a speech on 20 August in Harnosand, Sweden.
To What Extent Does Productivity Drive the Dollar?
RESEARCH - The Federal Reserve Bank of New York has produced a research paper in its Current Issues in Economics and Finance series, Volume 7, Number 8, August 2001. The paper was written by Cedric Tille, Nicolas Stoffels, and Olga Gorbachev.
Survey from the Philadelphia Fed
SURVEY - The Survey of Professional Forecasters is the oldest quarterly survey of macroeconomic forecasts in the United States. The survey began in 1968 and was conducted by the American Statistical Association and the National Bureau of Economic…
Phil Fed - Economists cut US growth forecasts
US - The world's largest economy is likely to grow sluggishly for the rest of this year but will pick up again in 2002, according to a Federal Reserve bank survey of private forecasters released today, 23 August.
EMU debate crucial to long term health of Swedish
SWEDEN - With the Swedish krona suffering from classic symptoms of a small European currency remaining outside of European Monetary Union, its best hope of a sustained recovery may be an acceleration of the EMU debate and entry process, analysts say.
German growth slows to zero
GERMANY - Official figures confirmed the fact that the German economy slowed to a halt in the second quarter of the year.
IMF says cash to reserves, Argentina decides use
ARGENTINA - The International Monetary Fund reiterated on 22 August that the money Argentina will receive under its new $8 billion program will go to central bank reserves, but it is then up to the country to decide how to use it.
Hayami - BOJ won't adopt managed inflation policy
JAPAN - The Bank of Japan can't adopt high inflation targets that would involve measures to artificially reflate the economy, the central bank governor said 23 August.
Seoul pays off its IMF debts
SOUTH KOREA - South Korea has fully repaid the last instalment of a multi-billion dollar loan from the International Monetary Fund.
Brazil rates will only fall after energy crisis
BRAZIL - The government will only be able to cut interest rates when energy supplies return to normal, which will probably only be in the second quarter of 2002, said former Central Bank chairman Carlos Geraldo Langoni on 21 August.
India to showcase dazzling Nizam jewels at last
INDIA - India's most dazzling array of jewellery goes on display for the first time next week amid hefty security for a collection which could be worth more than US $2 billion. The collection has been housed in the vault of India's central bank for years.
US rates cut for seventh time
UNITED STATES - The US Federal Reserve has cut interest rates for the seventh time this year in a continued attempt to revive the US economy.
IMF agrees extra cash for Argentina
ARGENTINA - After 12 tense days of talks, the International Monetary Fund (IMF) agreed to increase its funding to crisis-hit Argentina by $8bn.
Bundesbank Report
REPORT - The Deutsche Bundesbank has published its Monthly Report for July 2001.
Federal Reserve Research
RESEARCH - International Finance Discussion Papers, An Empirical Comparison of Bundesbank and ECB Monetary Policy Rules by Jon Faust; John Rogers; and Jonathan H. Wright, August 2001.
IMF News Brief
REPORT - A news release from the International Monetary Fund, 21 August, detailing the recommend addition of US$8 billion to Argentina's stand-by credit.
Croatian cen bank offers euros at 7.50 kuna
CROATIA - The Croatian central bank said on 21 August it would sell an unspecified amount of euros at 7.50 kuna ($0.907) - its second intervention this month to aid the kuna and a first sale of currency at a fixed exchange rate.
German wise man says ECB need not follow Fed cut
GERMANY - Horst Siebert, a senior adviser to the German government, said on 21 August the European Central Bank did not need to follow the widely expected U.S. interest rate cut by trimming euro zone rates.
Regulator denies responsible for bank intervention
NICARAGUA - Nicaragua's banking regulator Noel Sacasa has denied responsibility for the multimillion dollar costs of intervening and liquidating six banks during his term a report says.
RBI links supervision with risk profile of banks
INDIA - The Reserve Bank of India (RBI) is planning to roll out a bank-specific risk-based supervision (RBS) system from the last quarter of the financial year 2002-2003.
Sri Lanka c bank relaxes For Ex curbs
SRI LANKA - Sri Lanka's Central Bank announced 20 August the relaxation of several restrictions on foreign exchange transactions through commercial banks imposed in January, the official Daily News reported on 21 August.
What gets a central banker to the top
Central Banking Journal discovers what it takes to succeed in central banking and reveals some intriguing trends - and exceptions - in the lives of those who made it.
Bank for International Settlements Papers
RESEARCH - Empirical studies of structural changes and inflation August 2001.
Argentina pays workers in bonds
ARGENTINA - As Argentina's talks with the International Monetary Fund (IMF) drag on - with still no word on whether the country will get a much-needed aid package - the situation at home is getting worse.