Central Banking
Geithner with a view from the New York Fed
In the speech 'A view from the Federal Reserve Bank of New York' given on 19 January, Timothy Geithner of the Federal Reserve Bank of New York said the U.S. expansion has proven quite resilient and we enter the new year with what appears to be a pretty…
The ECB's new premises
Jean-Claude Trichet, the ECB president, unveiled the bank's final choice for its new building at a press conference on Thursday 20 January, saying it will not only come to symbolise Frankfurt and European unity, but develop into a "global icon".
Interview with ECB's Gonzalez-Paramo
In an interview published on Friday 21 January, ECB Executive Board member Jose Manuel Gonzalez-Paramo said the underlying Regulations of the Stability and Growth Pact should not be changed, but its implementation could be improved. Asked about the ECB's…
Greek, Turkish supervisors to exchange information
Greece's central bank said that it will sign a cooperation agreement with Turkey's Banking Regulatory and Supervisory Agency regarding the exchange of information.
Foreign central banks resume buying debt says Fed
Data released on Thursday 20 January by the Federal Reserve showed foreign central banks resumed buying US Treasuries in the latest week, but cut their agency holdings for a second week.
Takenaka says Japan 'no longer in post-bubble era'
Japan's economic and fiscal policy minister Heizo Takenaka said the world's second largest economy is "no longer in the post-bubble era," the Nihon Keizai Shimbun reported.
IMF's Rajan: World economy to slow down this year
Raghuram Rajan, chief economist at the International Monetary Fund, said that 2004 was an excellent year for world growth in the last two-three decades but don't expect 2004 to be repeated in 2005.
ECB's Papademos sees improving growth
European Central Bank Vice President Lucas Papademos said in an interview on Thursday 20 January that economic growth will speed up this year and inflation will slow.
Interview with vice governor, Central Bank of Iran
In a recent interview Mohammed Jafar Mojarrad, vice-governor of Bank Markazi, Iran's central bank, spoke about the latest developments in the economy and the financial sector. He said there are two main challenges currently facing Iran: unemployment and…
Fed's Consumer Advisory Council appointments 2005
The Federal Reserve Board on Friday 7 January named eleven new members to its Consumer Advisory Council for three-year terms and designated a new Chair and Vice Chair of the Council for 2005.
PBOC, modelled on Fed, bows to politics
When China's top policy makers set out to streamline the country's 57-year-old central bank system six years ago, they chose the U.S. Federal Reserve as a model, this article says. But while the People's Bank may be gaining clout as China's economy grows…
Santomero on the economic outlook for the US
In a speech on 'Economic outlook for the U.S. and Greater Philadelphia area' given on 18 January, Anthony Santomero of the Federal Reserve Bank of Philadelphia said the U.S. economy is in a "sustained expansion" with inflation under control, which should…
ECB Monthly Bulletin, January 2005
The European Central Bank published its January 2005 Monthly Bulletin on Thursday saying Asian central banks' build-up of currency reserves may prove costly for the economies concerned and could hinder the correction of global current account imbalances.
Federal Reserve Board - Beige Book, January 2005
The Federal Reserve published its January 2005 Beige Book survey on Wednesday 19 January. The report said U.S. economic activity continued to pick up in most of the country in late November through early January, but Cleveland, in the manufacturing…
Finland's Liikanen on cb finance, exchange rates
In a speech on 'External financing condition, the exchange rate and policy tradeoffs for central banks' given on 26 November Erkki Liikanen of the Bank of Finland said in emerging economies with relatively large financial markets and large capital…
Bank of Canada to upgrade $10 bank note
As part of its ongoing efforts to improve the security of Canadian bank notes, the Bank of Canada announced on Thursday 20 January that it will issue a $10 note with upgraded security features beginning 18 May 2005.
Luxembourg's Juncker says ECB wrong on pact
Luxembourg finance minister Jean-Claude Juncker, speaking as the euro group's president for the next two years, said the European Central Bank is wrong to say that reforming the EU's fiscal rules would harm the euro.
Cleveland's Pianalto says rates must rise further
Sandra Pianalto, the president of the Federal Reserve Bank of Cleveland said in a speech that the Federal Reserve must be "prudent" and continue to raise short-term interest rates until central bankers are more certain that monetary policy is no longer…
President calls for BI supervisory board
Indonesia's President Susilo Bambang Yudhoyono has demanded the immediate setting up of a Bank Indonesia (BI) supervisory board as required under the new central bank law, according to Finance Minister Jusuf Anwar.
OECD sees high yen as a risk for Japan recovery
The OECD said in a report on the Japanese economy published on Thursday 20 January that the sharp appreciation of the yen poses a big risk to Japan's already sluggish economic recovery, and that the Bank of Japan should remain focused on ending deflation.
Jenkins on Canada in the global economy
In a speech on 'Canada in the global economy: A look back and a look forward' given on 13 January, Paul Jenkins of the Bank of Canada said the high price of oil poses a risk to the world's economic outlook, even though oil prices have moderated in the…
IMF's Krueger on reforming economies
In a speech on 'Shared experience: What reforming economies have in common' given on 14 January, Anne Krueger of the IMF said India should tread a cautious path as far as infrastructure spending is concerned, since too much spending can trigger high…
Philadelphia Fed Business Outlook Survey, Dec 2004
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, December 2004, activity in the region's manufacturing sector continues to grow. In this months survey the participants were asked about the impact of the weak dollar on…
IMF's Knight on vulnerability of emerging markets
In a speech on 'The vulnerability of emerging markets to shocks: what has changed since the mid-1990s?' given on 9 November, Malcolm Knight of the BIS said good progress is now being made on making financial systems more resilient to shocks.