News
EC to consider war when evaluating Pact
Romano Prodi has indicated that war in Iraq will be taken into account when the European Commission assesses member countries' deficits under the stability and growth pact, according to a BizWorld report.
Bank of Canada appoints Desjardins to board
Jean-Guy Desjardins has been appointed to the board of directors of the Bank of Canada and will take up the position immediately, according to a report in the Toronto Star
ECB vote reform OK'd at EU summit
EU leaders agreed the proposal from the European Central Bank to reform the voting arrangements of its Governing Council, a spokesman for EU presidency holder Greece said on Friday.
Transatlantic rift not hurting central banks
Jean-Claude Trichet said on Thursday that the widening political rift between certain European countries and the US would not affect the transatlantic working relationship between central banks.
BoJ takes emergency stability measures
The Bank of Japan has taken emergency measures to shore up the financial system as the US led war on Iraq begins. Toshihiko Fukui began his first day as the governor of the BOJ saying on Thursday "The Bank of Japan closely monitors associated economic…
ECB ready to react to disturbances
The ECB reassured on Thursday that it was ready to react in the event of financial market disturbances after the start of military action against Iraq.
BoJ statement on the military action against Iraq
Statement made Thursday by the governor of the Bank of Japan at the onset of war hostilities.
Israel's Treasury blasts central bank policy
A brochure published by Israel's Finance Ministry blames the central bank for much of the malaise dogging the country's economy. The brochure also described the Bank of Israel's monetary policy as "too restrictive".
ECB Press Release on the war in Iraq, 20 March
Statement of the ECB's Governing Council following the start of military action in Iraq, 20 March.
Ignatyev - Reserves to prevent ruble fluctuation
During a working meeting with the President of Russia, central bank chairman Sergei Ignatyev said that the Bank's foreign currency reserves will make it possible to prevent major fluctuations in the ruble exchange rate in the near future.
ECB sees profits slide by 0.6 bn euros for 2002
On Thursday the European Central Bank revealed that profits fell by 33% in the year ended 2002. In a press release the ECB blamed the reduction on the fall in both the US dollar and euro interest rates during the year. The accounts also show that the ECB…
Federal Reserve hold rates steady amid uncertainty
Federal Reserve FOMC held rates steady at the meeting on Tuesday March 18. The Committee said in a press release that the hesitancy of economic expansion owes much to geopolitical uncertainties.
Bank of England Monetary Policy Committee Minutes
MINUTES - Minutes of the Bank of England's Monetary Policy Committee Meeting were released on 19 March for the meeting of 5 and 6 March 2003. The minutes show that MPC members voted 8-1 in favour of maintaining interest rates at their current levels…
RBNZ adds new reserves section to its website
A new section, Foreign Reserves, has been added to the Reserve Bank of New Zealand's website.
Dinkic : NBS will cooperate with new PM
In an interview with Serbian Studio B TV, the governor of the National Bank of Serbia Mladjan Dinkic said that the National Bank would cooperate with the newly elected prime minister Zoran Zivkovic, following the assassination last week of Zoran Djindjic…
Kazakh delegation attend Caspian summit in Turkey
The chairman of the National Bank of Kazakhstan, Grigoriy Marchenko, will attend the Caspian summit on banks, finance and investment held Wednesday and Thursday this week in Turkey, according to Interfax.
IMF admits policy failures on economic advice
The IMF's chief economist Kenneth Rogoff has described as "sobering" an IMF report which is critical of the advice the organisation provides to developing countries on economic reform, according to the BBC.
BOJ may buy ETFs under new governor Fukui
Speaking on Tuesday March 18, Toshihiko Fukui, who will formally take up the job of governor of the Bank of Japan on Thursday March 20, suggested the Bank may take up new policies to expand the money supply and thereby fight deflation, according to a…
IMF: Give Bank of Israel full independence
A comprehensive IMF report recommends that the Bank of Israel is given independence from government control. It also highlights areas where the Bank can improve transparency, according to Globe online.
Interest rates unchanged as Fed awaits war
The Federal Reserve held interest rates steady on Tuesday March 19 in a unanimous vote but left open the possibility of a cut if the economy suddenly worsened, according to a report by Associated Press.
Fed building part-closed after 'explosives' threat
Tuesday's FOMC meeting, March 19, did not go without a hitch CentralBankNet learns. A report from Reuters said that a man described as a "disgruntled tobacco farmer" claiming to be carrying explosives forced the closure of part of the Federal Reserve…
MPC voted 8 to 1 to keep UK rates on hold
Minutes of the Bank of England's last meeting of its interest rate setting MPC showed that the Committee saw growth slightly below trend in the short term. The Committee also felt exchange rate depreciation was likely to put upward pressure on inflation…
Swedish central bank cuts rates again
The Sveriges Riksbank trimmed interest rates further on Tuesday March 18, blaming continued uncertainty and the threat of war, according to a Reuters report.
ECB's Solans: Inflation pressure not a major worry
After cutting interest rates recently to stimulate the sluggish eurozone economy, executive board member Eugenio Domingo Solans has said inflation is not a major concern at the moment and the ECB sees "very modest" growth this yea, according to a Dow…