News
G7 communique
Statement of G-7 Finance Ministers and Central Bank Governors, Dubai, United Arab Emirates, September 20, 2003
12 August Minutes of Federal Open Market Committee
The Federal Reserve on 18 September released the minutes of its FOMC meeting of 12 August. The members agreed that, although economic activity had shown signs of firming, the risks to the outlook remained about the same as they had indicated in the…
Rosenberg-Price stability framework remains intact
Deputy Governor of the Sveriges Riksbank Irma Rosenberg gave a talk on 23 September at a conference organised by SNS Center for Business and Policy Studies and Affarsvarlden business magazine. Her talk touched on monetary policy and developments in the…
Bernanke: Fed can keep rates low
Federal Reserve Governor Ben Bernanke said on Monday 22 September that the U.S. can afford to keep interest rates low, mirroring the FOMC's recent statement, according to Reuters. Even with faster economic growth inflation is unlikely to become a problem…
Bundesbank chief Welteke dashes rate cut hopes
Bundesbank president and ECB council member Ernst Welteke said in an interview that monetary policy is not standing in the way of growth with historically low levels of interest rates, reports AFP. However, he warned that the current low cost of…
Snow says U.S. economic growth on sustainable path
U.S. Treasury Secretary John Snow said on Tuesday 23 September that the US government was committed to cutting the budget deficit in half over the next five years, according to Reuters, and described US economic growth as being on a good and sustainable…
IMF welcomes Serbia-Montenegro's economic policy
An IMF mission led by Emmanuel Zervoudakis, has held talks with a Serbia-Montenegrin delegation, headed by NBS Governor Kori Udovicki. In a statement reported on the Serbian Government's website, the IMF said the National Bank of Serbia has increased…
Euro parliament approves Trichet for ECB
On Tuesday 23 September, according to AFP, the European parliament approved the nomination of French central bank governor Jean-Claude Trichet as the next ECB president, replacing Wim Duisenberg of The Netherlands.
Japan's c bank chief pledges to beat deflation
Speaking at a joint discussion at the World Bank and the International Monetary Fund annual meetings Tuesday Bank of Japan governor Toshihiko Fukui said, according to China View "The BOJ is firmly committed to maintaining its current policy stance, until…
US claims victory over G7 call for flexible rates
US treasury secrtary, John Snow has claimed a victory in America's campaign to cajoule Asian countries to abandon pegs to the dollar. This follows the G7's communique's call for "flexibility" in exchange rates.
Include price stability in constitution says ECB
The ECB has called for price stability to be made an explicit goal of the EU in the new EU constitution which is under negotiation.
Jordan unblocks Hamas funds
Jordan's Central Bank has retracted a decision to freeze accounts belonging to leaders of Hamas, the radical Palestinian organisation.
Xiaochuan confirms yuan-dollar peg
China's central bank governor Zhou Xiaochuan on a visit to Hong Kong has confirmed the bank's commitment to the yuan/dollar peg, reports AFX Asia.
CB Jordan under fire over Hamas freeze
Deputies in the Jordanian Parliment have called for the sacking of CBJ Governor Umayyah Tuqan after the central bank's decision to freeze funds belonging to Hamas, according to the Jordan Times.
IMF report to the IMFC on its policy agenda
Report of the IMF's Managing Director to the International Monetary and Financial Committee on the IMF's policy agenda, in which the IMF states its commitment to: "Further improving our surveillance, including our capacity to identify and reduce economic…
RBA bests Visa/Mastercard in court
The Reserve Bank of Australia has overturned a legal challenge to its regulation of credit card giants Visa and Mastercard in a landmark decision delivered in Sydney yesterday.
Afghanistan Central Bank licenses foreign banks
The central bank of Afghanistan, 'DaAfghanistan bank, on Thursday 18 September issued three commercial banking licences to three foreign banks and allowed them to operate in the war-ravaged country, according to Chinaview.
Mervyn picks executive team
Mervyn King has completed the reshuffle of his executive team at the Bank of England. Andrew Bailey and Nigel Jenkinson are promoted, Merlyn Lowther retires and Alastair Clark is switched to become special adviser to the governor.
Mervyn King testifies to UK Treasury committee
Bank of England governor Mervyn King made a statement to the UK Treasury Select Committee, in which he discusses the outlook for the economy as well as the changeover of the BOE inflation index from RPIX to HICP: "the change in the target will need to be…
Keeping up appearances at the ECB
MONDAY SPECIAL - It's always a bit unsettling to learn that something is not quite as it seems - but all the more so when the illusionist turns out to be such an esteemed pillar of the establishment as the European Central Bank (ECB). Who would suspect a…
IMF/World Bank meeting in Dubai
The IMF/World Bank meetings which begin in Dubai on Saturday 20 September are being held for the first time in an Arab country. Over the weekend thousands of participants from 184 countries will gather at the Dubai International Convention Centre. The…
RBNZ Board chair elected
The Reserve Bank of New Zealand's Board of Directors elected Dr Arthur Grimes as its chair on 18 September. The Board also elected Mrs Alison Paterson as the Board's Deputy Chair.
Opening of the euro banknote design exhibition
Introductory statement by Prof. Eugenio Domingo Solans of the ECB at the Press Conference for the opening of the euro banknote design exhibition on 17 September. Today, more than a year and a half after the introduction of the euro banknotes and coins,…
Norges Bank's rate cut
Norges Bank said at a press conference on 17 September that underlying consumer price inflation is low, with a year-on-year rise in the CPI-ATE of 0.9 per cent in August. The rise in prices for imported consumer goods is pushing down inflation, the press…