News
Ukraine president wants central bank chief sacking
After the recent failed efforts of Ukraine's president Leonid Kuchma to have the national bank governor dismissed from his job, we understand that he has again urged the Supreme Council (parliament) to relieve Volodymyr Stelmakh from his duties in order…
ECB may redefine monetary strategy, price target
The European Central Bank is to re-assess its "two-pillar" monetary strategy next year amid signs that it is edging towards a more flexible approach to its price-stability mandate.
BIS report says stock markets on uptrend
The world's financial and equities markets are heading higher, but the outlook for recovery remains uncertain with disturbing corporate and macroeconomic data, according to a Bank for International Settlements report released Monday.
BOJ's Hayami wants increased securitisation
Bank of Japan Governor Masaru Hayami repeated Monday that policy in Japan should be focused on structural reform of the country's fragile financial sector, which he said is muting the impact of easy monetary policy.
ECB rate cut will boost confidence: Welteke
Following the ECB's half point interest rate cut to 2.75 percent last week, ECB council member Ernst Welteke has said the move should boost confidence and bring long term improvement in euro zone economies.
ECB suggests relaxation of 3 pct deficit limit
With regular criticisms of the EU's stability and growth pact deficit ceiling of 3 pct of GDP, which several countries have exceeded the ECB is floating the idea of giving more leeway for EU candidate countries struggling to meet the targets so as not to…
BoE's Bell - UK house prices may pose problems
Bank of England Monetary Policy Committee member, Marian Bell cautioned on Monday that rising house prices may be a problem for interest rate policy for some time yet but said the MPC can not address sectoral differences without jeopardising the…
Mexico central bank tightens monetary policy
Mexico's central bank tightened monetary policy to curb mounting inflationary pressures on Friday by increasing the amount of cash it holds back from the secondary money market.
Brazilian inflation hits eight-year high
Inflation soared to an eight-year high in November, as Brazil's currency continued to weaken ahead of the transition to a new government next month.
Argentine central banker offers resignation
Argentine President Eduardo Duhalde said on Friday he would talk to Central Bank chief Aldo Pignanelli next week about Pignanelli's offer to resign.
B of E's George wary of Euro over-regulation
The governor of the Bank of England sounded a veiled note of caution about the European Union on Friday when he presented his vision of how European integration would move forward.
US Treasury secretary O'Neill resigns
President George W. Bush's economic team was in disarray on Friday after Paul O'Neill, US treasury secretary, and Lawrence Lindsey, White House economic adviser, announced their resignations.
Bank of England Maintains Interest Rates at 4.0%
The Bank of England held rates steady on Thursday after warning of a sharp correction in UK house prices, risks to inflation and minutes from the last meeting showed the MPC moving further away from an easing bias.
ECB Press Release
PRESS RELEASE - Monetary policy decisions, 5 December.
Euro rates slashed to boost growth
Mounting fears over the sluggish eurozone economy have prompted the European Central Bank (ECB) to cut its key interest rate by a half-point, to 2.75%. There have been strong hints in the weeks since the last meeting from governing council members that…
Sveriges Riksbank Press Release
PRESS RELEASE - Repo rate lowered 0.25 percentage points to 3.75 per cent, 5 December.
Sweden reduces interest rates again
Sweden's central bank cut its key repo rate on Thursday for the second time in three weeks, saying it expected inflation to fall below its two percent inflation target as industrial activity deteriorated.
Japan's Takanaka says inflation defeat difficult
Japan's Economy Minister Heizo Takenaka kept up the pressure on the Bank of Japan Thursday to further ease monetary policy. But, as we have previously reported, the Bank is keen to add further stimulation with board member Hidehiko Haru saying last week…
Central Bank of Russia boosts assets 24%
The Central Bank of Russia boosted assets 23.8% in the first ten months of 2002 from 1.713 trillion to 2.120 trillion rubles, including a rise of 2.8% in October, the Central Bank balance sheet shows.
Hayami - Monetary policy a kind of targeting
Bank of Japan Governor Masaru Hayami Thursday dismissed calls for the BOJ to set a target for inflation, saying the central bank didn't have the tools to make such a target credible. A senior politician Taku Yamasaki, said on Wednesday, 'at the very…
China's central bank pledges to keep dollar peg
China's central bank governor has vowed to keep the yuan pegged to the U.S. dollar even as surging foreign investment and a widening trade surplus boost demand for the Chinese currency.
Moderate may head Brazil's central bank
The debate over who will take charge of Brazil's central bank continues as we hear that a moderate economist is going to be appointed by the incoming leftist government to head the Banco Do Brasil, a Brazilian newspaper reported Wednesday. The outgoing…
ECB Press Release
PRESS RELEASE - Review of the quantitative reference value for monetary growth, 5 December.
ECB rate cutting far too slow says report
ECB watcher David Begg had some harsh words to say on the ECB's recent performance, but offered a little sympathy for a central bank that is not allowed to take the credit when it deserves it.