Central Banking
OECD says Germany unlikely to meet deficit targets
Germany is unlikely to meet its fiscal deficit targets in 2004 and 2005, and its growth forecast "appears to be on the optimistic side" the OECD said in a report on the German economy.
Research says BoE's MPC lacks 'vigorous debate'
Research published on Thursday 5 August suggested the Bank of England's interest rate setting Monetary Policy Committee lacks "vigorous debate" partly explained by the increasingly dominant influence of Mervyn King.
IMF's Carstens on the challenges facing the IMF
In a speech on 'The challenges facing the IMF' given on 27 July, Agustin Carstens of the IMF said he believes we have a good handle on the avenues that should be pursued for improving the Fund's ability to identify emerging problems. What is less certain…
Bank of Italy - Annual Report 2003
The Bank of Italy has published its Annual Report for the year ended 2003. World economic activity gathered pace from the middle of 2003 as international political tensions eased, and monetary and fiscal policies remained highly expansionary. The…
Implementing Basel II: Practical considerations
The Basel Committee published "Implementation of Basel II: Practical Considerations" on 29 July. While the revised Framework has been designed to provide options for banks and banking systems world-wide, the Committee says it acknowledges that moving…
Central bank coxswain can't fully trust the crew
The Bank of England sees its role as a manager of other people's behaviour, this article says. A bit like the coxswain in a rowing race, the Bank both barks out orders and has a well-trained hand on the tiller. Central bankers, inevitably, like to think…
RBA 2004 Conference: Future of inflation targeting
This year's Reserve Bank of Australia conference to be held 9-10 August is focusing on various issues related to inflation targeting including: the evolution of inflation-targeting regimes and the measurement of inflation. Drafts of the papers will be…
Banque de France, Fin Stability Review, June 2004
At the turn of the year, growth picked up in all advanced economies as well as in most emerging economies, in particular in Asia. The economic recovery, already in full swing in the United States and in Japan, gained momentum in the euro area, albeit at…
Study says Fed doesn't target stock market
The Federal Reserve doesn't target stock market prices directly when it sets monetary policy, Reuters said quoting a Fed study due out this week.
Eurozone recovery at risk, says IMF
The eurozone's recovery remains fragile and is vulnerable to weak consumer demand and the risk of a further rise in the already strong euro, the International Monetary Fund warned the single currency's member states on Tuesday.
RBA holds rates
The Reserve Bank of Australia announced Wednesday morning, 4 August, that the official cash rate would remain at 5.25 per cent, where it has been since December.
Japan says China must change fx system to enter G7
Japan's Ministry of Finance urges China to modify its tightly managed float of the yuan before it can be approved for entry into the Group of Seven nations, the Nihon Keizai Shimbun reported, citing an unidentified senior government official.
National Bank of Denmark - Annual Report 2003
The National Bank of Denmark has published its Annual Report for the year ended 2003. Growth in the Danish economy was sluggish in 2003. The modest increase in GDP of 1.0 per cent in 2002 was followed by zero growth in 2003. However, after two years of…
Bank Negara Malaysia - Annual Report 2003
The Central Bank of Malaysia has published its Annual Report for the year ended 2003. The more optimistic global environment and stronger domestic economic conditions have enhanced Malaysia's prospects as we advance into 2004, the annual report says.
Federal Reserve announce changes to check services
The Federal Reserve Banks announced on 2 August further changes to increase the efficiency of their check-processing operations. Check processing operations at nine sites will be discontinued and the volumes at these sites shifted to other Federal…
BNM's Zeti on investing in the new Malaysia
In a speech on 'Remaking Malaysia: Investing in the New Malaysia' given on 3 August, Dr Zeti Akhtar Aziz of the Bank Negara Malaysia said during this period of strong fundamentals and rising potential for economic expansion, Malaysia has the flexibility…
Sin on development of Singapore's capital markets
In a speech on 'Development of Singapore's capital markets' given on 26 July, Ng Nam Sin of the Monetary Authority of Singapore said Singapore's debt capital market is an important part of our financial system. Continuous innovation in the markets will…
No stocks bought by BOJ in late July
Data released on Tuesday 3 August showed that the Bank of Japan did not buy any stocks from domestic banks in late July.
Bundesbank adopts Autonomy data package
The Deutsche Bundesbank is to deploy technology from Autonomy to run an advanced information retrieval system for 12,000 employees.
Brazil's cb has 'autonomy' on rates:, Palocci
Brazil's President Luiz Inacio Lula da Silva gave the central bank power to set interest rates as it sees fit to control inflation, said Antonio Palocci, Brazil's finance minister, in an interview with the Epoca newsmagazine.
Inside help suspected in IMF, World Bank threat
US counter-terrorism officials have told officials at the World Bank and International Monetary Fund that they think plans for a possible attack on the two financial institutions were so detailed that terrorists must have had inside help, the New York…
IRAQ'S NEW CENTRAL BANK
In April 2003 the central bank of Iraq was reduced to rubble. Its offices were ransacked, its records burnt, its vaults partly flooded (it sits on the banks of the Tigris), and its governor had fled. One of Saddam Hussain's sons had taken about $1…
Hoenig on US monetary policy, economic outlook
In a speech on 'Monetary policy and the economic outlook' given on 26 July, Thomas Hoenig of the Federal Reserve Bank of Kansas City said recent U.S. economic performance has been good. Growth has been strong, inflation has been low, and even the labour…
Bundesbank's Weber on sixty years of Bretton Woods
In a speech on 'Sixty years of Bretton Woods: back to the future?' given on 23 July, Axel Weber of the Bundesbank said over the years the IMF has repeatedly expanded its policy of lending to debtors that are in arrears to the private sector (LIA policy)…