Central Banking
BIS Quarterly Review June 2004
The BIS June 2004 quarterly review, released 14 June, is divided into two parts. The first analyses recent developments in financial markets, financing flows in banking and debt securities markets, and activity on derivatives markets. The second part…
Report says Buba used public money to build villas
For decades the Bundesbank used public money to build luxury villas for some of its top officials, German business daily Handelsblatt reported.
Olson says Fed must stay alert on inflation
The U.S. economy is growing at a rate at which policymakers must pay attention to the possibility of inflation, Federal Reserve Governor Mark Olson said on Monday.
Fed's Moskow urges vigilance on inflation
Chicago Fed President Michael Moskow said in an opinion piece in Tuesday's Wall Street Journal the Federal Reserve must continue to be vigilant in monitoring inflationary pressures.
Rapid rate rise not good for economy - Tanigaki
Japan's Finance Minister Sadakazu Tanigaki said a rapid rise in long-term interest rates may harm Japan's economic recovery, Jiji Press reported.
Greenspan's testimony at nomination hearing
In his nomination hearing testimony to the US Senate on 15 June Alan Greenspan of the Federal Reserve said the Federal Reserve must stand ready to deal with a large number of possible threats to the economy, including another terrorist attack on U.S…
Minn.Fed's Stern oil hikes may not bring inflation
Gary Stern, the president of the Federal Reserve Bank of Minneapolis, said on Sunday that rising energy prices do not necessarily signal inflation, which he called "a monetary phenomenon."
Japan economy on recovery road, says Takenaka
Japan's Economic and Financial Services Minister Heizo Takenaka said on Sunday 13 June that the rise in JGB yields reflected an expectation of further economic recovery. Separately Masakazu Hayashi told a news conference the government wanted the Bank of…
PBOC official says no rate increase planned
People's Bank of China spokesman Bai Li said thsat he was unaware of any submission of detailed plans to raise interest rates to the State Council, according to a report published on Monday 14 June .
IMPLEMENTING BASEL II
The Basel Committee's new capital accord will be signed at the end of June, and implemented from the end of 2006 onwards. Nick Le Pan, Canada's leading supervisor is vice chairman of the committee and gave an exclusive interview to The Financial…
Cleveland Fed's Pianalto on monetary policy II
In a speech on 'A perspective on monetary policy II' given on 11 June, Sandra Pianalto of the Federal Reserve Bank of Cleveland said the central bank's target rate of 1 percent "is too low to be sustainable."
Norway's Gjedrem on monetary policy and the krone
In a speech 'On monetary policy and the krone' given on 7 June, Svein Gjedrem of Norges Bank said that with the current low level of inflation, it is appropriate to be particularly vigilant with regard to developments in consumer prices. However,…
Bank of Canada Financial System Review, June 2004
The Bank of Canada published its semi-annual Financial System Review on 10 June. Economic forecasts of global growth in 2004 have been revised upwards significantly. In addition, favourable financing conditions and the efforts of firms to restructure…
Minutes from the Sveriges Riksbank Meeting, 27 May
Minutes of the Sveriges Riksbank Executive Board meeting on 27 May were published 11 June. All the members expressed greater certainty over the recovery both in Sweden and abroad and said that there were factors, such as the rise in long-term interest…
IMF's Carstens on anti-money laundering
In a speech on 'Anti-Money Laundering and Combating the Financing of Terrorism: The Challenges Ahead' given on 4 June, Agustin Carstens of the IMF said since global efforts to combat AML/CFT began in the early 1990's, there have been many successful…
Norges Bank - Annual Report 2003
The central bank of Norway, Norges Bank, has published its Annual Report for the year ended 2003. The international growth outlook deteriorated through the first half of 2003. Developments in the Norwegian economy were also weaker than projected earlier,…
IMF's Rato calls for structural reforms
The IMF is calling on Europe and Japan to promote sustainable economic growth through structural reforms, said the fund's managing director Rodrigo Rato.
Olson on banking insurance & securities activities
In a speech on 'Regulatory update: Banking industry, insurance, and securities activities' given on 10 June, Mark Olson of the Federal Reserve said the U.S. system of risk-focused bank supervision relies heavily on cooperation among multiple state and…
ECB's Issing on the primacy of price stability
In a speech 'On the primacy of price stability' given on 10 June. Otmar Issing of the ECB said the primacy of price stability does not imply that this objective can be left to the central banks alone. Monetary policy needs to be complemented by a sound…
MAS chairman Loong set to become PM
Singapore's ruling party has approved the appointment of founding father Lee Kuan Yew's son Lee Hsien Loong, the chairman of the Monetary Authority of Singapore, as the next prime minister.
Interview with Fed's Bernanke
In an extensive interview published this week, Federal Reserve governor Ben Bernanke talks about inflation targeting, asset bubbles, the Great Depression and other topics. He suggests the introduction of a number or a numerical range for inflation in the…
Marquez-Ruarte is to be IMF's HR Director
Rodrigo Rato, Managing Director of the International Monetary Fund, has named Jorge Marquez-Ruarte as Director of the Human Resources Department to succeed Margaret Kelly, a national of Australia who is retiring after more than 30 years of service with…
Bank Indonesia names senior deputy governor
Miranda S Goeltom, former deputy governor of Bank Indonesia (BI) was elected senior deputy governor of the central bank after undergoing a fit and proper test by Commission IX of the House of Representatives in Jakarta last Tuesday, 8 June.
Greenspan nomination hearing moved to 15 June
The Senate Banking Committee said on Monday 7 June that it was postponing a hearing on Federal Reserve Chairman Alan Greenspan's renomination until 15 June. The hearing was rescheduled because late President Ronald Reagan was lying in state at the U.S…