Central Banking
Sweden's Rosenberg on economic outlook:
In the speech 'Economic outlook is changed' given on 17 November, Irma Rosenberg of the Sveriges Riksbank said that labour market developments will continue to be weak and there are still no clear signs of a turnaround. The continuation of favourable…
Santomero on prospects for the U.S. economy for 05
In a speech on 'Prospects for the U.S. economy for 2005' given on 16 November, Anthony Santomero of the Federal Reserve Bank of Philadelphia said the U.S. economy is on course for a sustained period of moderate economic growth with low inflation.
Minutes of the FOMC meeting 21 September
Minutes from the Federal Reserve's 21 September FOMC meeting released on 12 November revealed that the policy-setting panel spent part of the meeting discussing the implications of the United States' massive trade gap.
Gonzalez-Paramo on fiscal & monetary policy in EMU
In a speech on 'Fiscal and monetary policy in EMU' given on 11 November, Jose Manuel Gonzalez-Paramo of the ECB said that unlike most central bankers around the world today, and throughout history, European central bankers' point of reference is no…
Brouwer on financial integration in the EU
In a speech on 'Financial integration in the EU - some food for thought' given on 5 November, Henk Brouwer of the De Nederlandsche Bank said there has been substantial progress in financial integration in the EU, thanks to efforts by the Commission, the…
Toronto delegation visits European Central Bank
A delegation comprised of Deputy Mayor Joe Pantalone and Toronto business people visited the European Central Bank (ECB) on Wednesday 17 November.
Hungarian PM calls for central bank rate cut
Hungarian Prime Minister Ferenc Gyurcsany was quoted as saying on Thursday 18 November that he wanted the Hungarian central bank to cut interest rates to help the wider economy.
NBU expected to introduce inflation targeting 2006
The National Bank of Ukraine is expecting to introduce inflation targeting in 2006, according to NBU Acting Governor Arseniy Yatseniuk, speaking to journalists.
Euro and oil pose risk to outlook says Hurley
"The balance of risks to growth are now clearly to the downside," said Hurley, 59, in an interview in Dublin. "We're disappointed that growth, particularly in the euro area, is not as strong as we would have wished. "Sudden movements" in exchange rates …
Fed's Gramlich urges cuts to US deficits
Federal Reserve Governor Edward Gramlich said in a speech the U.S. twin deficits should be cut soon because fiscal remedies will become tougher when the retirement of the baby boom generation strains public finances.
Canada's Jenkins on globalization and mon. policy
In a speech on 'Globalization and Public Policy: Lessons from Central Banking' given on 15 November, Paul Jenkins of the Bank of Canada identifies two of the key principles that distinguish a modern, credible monetary policy framework-clarity of…
RBNZ warns financial stability stakes higher
Reserve Bank of New Zealand Deputy Governor Adrian Orr warned in a speech in Napier to the New Zealand Society of Actuaries entitled "A prosperous but vulnerable nation" that the rise in New Zealand's external debt in recent years stresses the need for…
Papers from the RBA's 2004 Conference
The Reserve Bank of Australia published papers from its 2004 Conference "The future of inflation targeting" on 15 November. The papers include "Can central bank transparency go too far?", "Inflation measurement for central bankers" and "Inflation…
Chicago's Moskow on labor markets &energy prices
In a speech on 'Labor markets, energy prices, and the outlook for 2005' given on 16 November, Michael Moskow of the Federal Reserve Bank of Chicago said that today, rather than heading toward a soft landing, the economy is approaching its cruising…
Bank of England MPC Minutes, 3&4 November
The minutes from the 3 and 4 November meeting of the Monetary Policy Committee of the Bank of England were released on 17 November. The minutes showed that policymakers preparing their quarterly forecasts saw growth near trend and inflation on course to…
Bank of Canada issues new $50 banknote
The Bank of Canada put into circulation Canada's new $50 banknote on Wednesday 17 November. The new note will be distributed and become available across the country over the next few weeks.
Pianalto: Fed will monitor oil, act appropriately
The US Federal Reserve will take the steps needed to prevent a spike in energy prices from becoming entrenched in inflation, Cleveland Fed president Sandra Pianalto said on Wednesday 17 November.
PBoC's Zhou says policy to favour stability in 05
China's monetary policy will lean towards stability next year, Zhou Xiaochuan, governor of the People's Bank of China, was quoted as saying in the China Securities Journal.
Fukui confident on China slowdown
Toshihiko Fukui, Governor of Bank of Japan expressed confidence about the prospects of both a soft landing of China's economy and the fast growth of the US economy.
South Korea's reserves hit new high
South Korea's foreign reserves rose to a new high in mid-November, helped by an increase in the dollar-conversion value of non-dollar assets, the Bank of Korea said Wednesday.
Greek deficits were under-reported
An investigation by Eurostat concluded on Monday 15 November that Greece had broken the three per cent of GDP deficit ceiling for membership of the Euro every year since 1997.
France's Noyer sees oil prices as main threat
The Governor of the Banque de France, Christian Noyer, identified high oil prices as the most significant threat to French growth, in an interview with French newspaper Les Echos.
IMF's Rato on Russian inflation threat
IMF Managing Director Rodrigo Rato warned Russian policymakers to focus on controlling inflation rather than stimulating growth, when he arrived on a visit to Moscow on Tuesday 16 November.
Fed's Olson on state of the US economy
Federal Reserve Governor Mark Olson spoke on Monday 15 November about the state of the US economy, and issued a warning to expect more rate rises as the economy recovers.