Central Banking
BoE's Bean: current issues in UK monetary policy
In a speech on 'Some current issues in UK monetary policy' given on 28 July, Charlie Bean of the Bank of England said that "the immediate economic outlook appears brighter than it has done for a while".
OECD report says ECB should hold rates steady
The European Central Bank (ECB) will probably keep interest rates in the dozen euro nations at their six-decade low for the rest of the year to help an economic recovery still threatened by "large risks," the Organization for Economic Co-operation and…
Poland raises rates for a second month
Poland's central bank raised interest rates for the second month running after the inflation rate rose close to a three-year high.
IMF delays Argentine loan
The International Monetary Fund has delayed approval of a $728 million loan payment to Argentina, forcing the country to draw on central bank reserves to pay back multinational lenders.
Zimbabwe offers investment sweetener
Zimbabwe's central bank announced on Tuesday 27 July a new measure to attract much-needed foreign investment: a guarantee to pay back the entire capital within three months if investors decided to leave.
Bank of England's customer banking strategy review
Following a review of its customer banking activities, the Bank of England said on 27 July that it has concluded that the provision of retail banking activities does not form an integral part of its role as a central bank.
South Africa celebrates democracy with new coin
The South African Reserve Bank said on 27 July it is issuing a special commemorative R2 coin, celebrating 10 years of democracy in South Africa.
SARB to issue bi-metal R5 coin
The South African Reserve Bank (SARB) launched a bi-metal R5 coin on 27 July. The new R5 coin will be in circulation from Monday, 2 August 2004. The coin has a bronze-coloured centre and a silver-coloured border.
Nat Bank of Kyrgyz Republic - Annual Report 2003
The National Bank of the Kyrgyz Republic has published its Annual Report for the year ended 2003.
RBI's Reddy on India and the global economy
In a speech on 'India and the global economy' given on 17 June, YV Reddy of the Reserve Bank of India said the presence of foreign banks in India has benefited the financial system by enhancing competition, resulting in higher efficiency. There has also…
Chicago Fed National Activity Index, June 2004
The Chicago Fed National Activity Index was 0.00 in June, a marked decrease from the May reading of +0.75. The production- and employment-related categories of indicators made negative contributions to the overall index in June, but these were offset by…
Future rate level not 'pre-decided' :ECB's Quaden
The European Central Bank probably won't raise interest rates soon as it forecasts that inflation will ease next year, the Financial Times reported, citing ECB governing council member Guy Quaden in an interview.
OECD sees growth threat from eurozone deficits
The OECD warned on Tuesday 27 July in its latest survey of the eurozone that high deficits, such as those faced by France and Germany, are the eurozone's biggest economic problem.
Weber: German economy has 'turned the corner'
The German economy has performed better than expected in the second quarter, with GDP growth estimated at about 0.5 pct from the first quarter, when it grew 0.4 pct from the previous quarter, Bundesbank president Axel Weber said.
US growth to top 4% this year-Kansas Fed's Hoenig
The U.S. economy will most likely grow by more than 4 percent in 2004, stimulated by fiscal and monetary policy and the recovering global climate, Kansas City Federal Reserve President Thomas Hoenig said on Monday 26 July.
Should the Fed adopt IT?
Adopting IT (inflation targeting) is the key policy debate among the US Federal Reserve. The debate has been set alight by Ben Bernanke, a keen inflation targeter, joining the Board of Governors. To understand this key debate, CentralBankNet brings a…
International Journal of Central Banking
The Bank for International Settlements (BIS) on Monday 26 July announced plans to support the development of a new publication focused on central bank theory and practice and issued a call for research papers.
Mboweni on economic developments & monetary policy
In a speech on 'Economic developments and monetary policy' given on 22 July, Tito Mboweni of the South African Reserve Bank said that the bank still believes that an inflation-targeting monetary policy framework allows an independent central bank to…
Price stability and Japanese monetary policy
Many observers have concluded that central banks are powerless to end deflation when short-term interest rates are near zero. This Bank of Japan Discussion Paper by Robert Hetzel, Vice President of the Research Department, Federal Reserve Bank of…
Comments on Price stability & Japanese mon policy
This Bank of Japan Discussion Paper summarises the authors' main points of agreement and disagreement with respect to the proposal written by Dr Hetzel. The authors agree with Dr Hetzel's proposal on four points but disagree with the proposal on three…
Reform of the Bank of England's operations
The Bank of England on 22 July announced the result of its review of its official operations in the sterling money markets. The Bank will initiate a new system based on averaging with voluntary reserves remunerated at the Bank's repo rate.
New security features for euro banknotes planned
A new series of euro banknotes with improved security features to combat forgery will be issued by the end of the decade, the Bundesbank board member responsible for banknotes, Franz-Christoph Zeitler, told Focus magazine.
Stark- EU not ready for single financial regulator
The European Union is not ready for a single financial regulator, according to a newspaper article by Bundesbank Vice President Juergen Stark.
PBOC to ensure 'soft landing'
China's central bank will maintain its cautious stance on further monetary policy moves to ensure that the nation's fast-growing economy enjoys a "soft landing," Monday's China Daily quoted a leading official as saying.