Central Banking
Fukuma on recent economic developments in Japan
In the speech 'Recent economic and financial developments in Japan' given on 24 February (published 29 March) Toshikatsu Fukuma of the Bank of Japan said the central bank should maintain the current target of 30-35 trln yen at least until April, when the…
NY Fed's Baxter on Islamic financial services
Speaking at the Seminar on legal issues in the Islamic financial services industry in Kuwait City in March, Thomas Baxter of the New York Fed said U.S. financial institutions are beginning to recognise the importance of the Islamic financial market.
Sweden's Heikensten on the economic outlook
In a speech on current monetary policy Sveriges Riksbank governor Lars Heikensten said on 4 April growth is expected to be around three per cent a year, higher than what the economy is deemed capable of sustaining in the long run.
Can Bank of England's Mervyn King take on Blair?
With a general election set for 5 May in the UK, this article asks whether the Bank of England will take on Tony Blair and raise rates on Thursday risking a political backlash from the party that looks set to win the election. Or keep them on hold, and…
Fed's Greenspan on energy
In the speech 'Energy' given on 5 April Alan Greenspan of the Federal Reserve said market forces could lead to a big enough increase in crude oil inventories to cool the recent "frenzy" that has sent prices to record highs.
Greenspan warns of risks from mortgage giants
In testimony on Wednesday 6 April Federal Reserve chairman Alan Greenspan called on Congress to curb the rapid growth of Fannie Mae and Freddie Mac, telling Senators this was vital to cut the risks the mortgage finance giants pose to the U.S. financial…
World Bank report says US deficit to fall slowly
The US current account deficit is expected to decline gradually over the next three years, according to the World Bank's annual Global Development Finance report.
BOJ reports economy extends recovery
Bank of Japan Governor Toshihiko Fukui told a news conference Wednesday 6 April that a decline in business confidence doesn't alter the bank's view that Japan's economy is maintaining a recovery.
Brazil prosecutor calls for central bank inquiry
Brazil's Supreme Court has been asked by the attorney general to start an investigation into central bank President Henrique Meirelles for alleged financial irregularities.
Top Chinese officials to miss spring IMF meetings
Senior Chinese officials have said they will not attend spring meetings of the International Monetary Fund and World Bank at the end of next week, a U.S. Treasury Department official said on Tuesday 5 April.
IMF's Rato on capital markets in a global economy
In the speech 'Capital markets in a global economy - Recent developments' given on 1 April Rodrigo de Rato of the IMF said "a continued measured withdrawal of stimulus remains appropriate" on US monetary policy.
Serbia's Jelasic on the anniversary of the NBS
In the speech '121-year anniversary of the National Bank of Serbia' given on 16 March Radovan Jelasic of the National Bank of Serbia said the NBS does not need either IMF or the World Bank to "propel" it, as these institutions are real partners rather…
Bank of Canada, Business Outlook Survey, Spring 05
The Bank of Canada's Spring 2005 Business Outlook Survey reports that businesses are more optimistic about the economic outlook than in the winter survey.
Philadelphia Fed Business Review, 1st Quarter 2005
The Federal Reserve Bank of Philadelphia has published its regular Business Review for the First Quarter 2005. In "Preparing for the 21st Century Economy," President Anthony Santomero talks about two trends he deems to be of particular importance.
Sweden's Srejber on asset prices, inflation target
Speaking at a seminar at the Swedish Royal Institute of Technology on 16 March first deputy governor Eva Srejber of the Sveriges Riksbank said it is now more than ten years since the Riksbank adopted an explicit inflation target and the policy has been…
ASEAN finance ministers hold Laos meeting
Finance ministers from the 10 ASEAN member nations will start a two-day meeting on Wednesday 6 April in Vientiane, Laos, to discuss economic development in Southeast Asia.
Kudrin says Russia should keep $100bn reserves
Russia should maintain at least U.S. $100 billion in foreign exchange and gold reserves, Finance Minister Alexei Kudrin told the State Duma, the lower house of the Russian parliament, Monday 4 April.
China to reform forex regime, not just level
China's central bank will focus this year on how to establish a workable exchange rate mechanism instead of simply fixing the exchange rate at a certain level, the official China Securities Journal reported, citing a senior PBOC official.
Greenspan says Basel II would strengthen US banks
Federal Reserve Chairman Alan Greenspan said that implementing the new Basel II global banking rules would make U.S. banks stronger and safer, and were unlikely to harm their competitiveness.
6th Islamic Financial Services meeting starts
The 6th meeting of the Islamic Financial Services Board (IFSB) began in Tehran Tuesday 5 April under the chairmanship of the governor of the Iranian central bank Ibrahim Shibani.
Fed's Bies on the Bank Secrecy Act and Basel II
In the speech 'Home Mortgage Disclosure Act, Bank Secrecy Act, and Capital Issues' given on 31 March Susan Schmidt Bies of the Federal Reserve said U.S. regulators are very sensitive to the competitive implications of having two sets of rules for the…
Muto on Japan's payment and settlement systems
In the speech 'Japan's payment and settlement systems and the Bank of Japan' given on 3 December (published 24 March) Toshiro Muto of the Bank of Japan said generally, reform of payment and settlement systems in any country does not happen until it…
Statement by IMF's Rato on death of the Pope
Rodrigo de Rato, Managing Director of the International Monetary Fund (IMF), issued a statement on Sunday 3 April on the death of Pope John Paul II.
IMF hosts farewell lunch for James Wolfensohn
The Executive Board of the International Monetary Fund (IMF) hosted a luncheon on 29 March to bid farewell to James D. Wolfensohn, who steps down on 31 May after serving two terms as President of the World Bank.