Central Banking
Japan 'half way' to overcoming deflation
While deflation has shown signs of easing in Japan, rising raw material prices still haven't affected consumer goods, signalling that price declines will continue, Japan's Cabinet Office said in its white paper on the economy.
Eurozone inflation eases to 2.4% in June
Eurozone inflation fell slightly in June to 2.4 percent on a 12-month basis from 2.5 percent in May, final data from the EU's statistical office Eurostat showed on Friday 16 July.
Polish finance minister resigns to join IMF
Polish Prime Minister Marek Belka said that Finance Minister Andrzej Raczko was leaving the government for a post at the International Monetary Fund and would be replaced on Wednesday by the economist Miroslaw Gronicki, AFP reported Friday.
Central bank staff may okay job action in Israel
The Bank of Israel labor union will meet next week to officially approve "lengthy strikes," Haaretz reported Friday 16 July. Central bank employees struck for one day last May.
Meyer's book lifts lid on life inside the Fed
Former Federal Reserve governor Laurence Meyer's new book reveals some insights on life inside the Fed. This review says Meyer was advised against saying anything in a speech that might move financial markets. In the book, Meyer writes that Chairman Alan…
Bank of Japan Monthly Report, July 2004
The Bank of Japan released the English version of its monthly report on 15 July. Japan's economy continues to recover, with the increase in production and corporate profits exerting positive effects on employment, the central bank said.
BIS paper on management of interest rate risk
As part of its ongoing efforts to address international bank supervisory issues, the Basel Committee on Banking Supervision issued a paper on principles for the management of interest rate risk in September 1997. This revised version is being issued to…
Eastern Caribbean Central Bank- Annual Report 2003
In a speech on the 2003/04 Annual Report 'A broadbrush picture of the Eastern Caribbean Central Bank' given on 21 June K Dwight Venner of the Eastern Caribbean Central Bank said the year 2003/2004 was a very challenging, but productive year. The Bank…
Hildebrand on the new investment policy of the SNB
In a speech on 'The new investment policy of the Swiss National Bank' given on 17, June Philipp Hildebrand of the Swiss National Bank said the management of the monetary reserves has gained in importance. The National Bank Act requires the National Bank…
Issing says ECB must check inflation expectations
European Central Bank Chief Economist Otmar Issing said it's important for the bank to prevent expectations of inflation from rising excessively, the Nihon Keizai newspaper said, citing an interview with Issing.
Bank of France raises growth forecast
The Bank of France raised its forecast for growth in the second and third quarters as June retail sales surged, manufacturers lifted production, and executives' confidence was its highest in more than three years.
Banking crisis declining says Russia's Ignatyev
Russian Central Bank Chairman Sergei Ignatyev said on Thursday 15 July that he believes the banking crisis is declining. "I believe the trust crisis is over. It is very important now to ensure higher activity on the inter-bank loan market," he said.
RBA says credit card reforms working
Shopkeepers stood to save $430 million a year from lower credit card costs after the Reserve Bank stepped in to regulate fees, the RBA said in its July Bulletin released Thursday.
Book - 'A term at the Fed' by Laurence H. Meyer
In his new book, A Term at the Fed: An Insider's View, Laurence Meyer displays a certain frankness in discussing his performance as a central-bank policymaker from 1996 to 2002, this book review says. He's candid about the mistakes he made and even…
Earlier release of Fed minutes would help market
This article says the Federal Open Market Committee rarely agree over the wording of the statement on the "why" even when they are unanimous about the "what." It suggests the committee should take a step favoured by some members and rejected by the…
HKMA's Yam on the case for an Asian Bond Market
In a speech on 'The Case for an Asian Bond Market' given on 8 July, Joseph Yam of the HKMA said collectively and individually, central banks and governments are making good progress on a variety of initiatives aimed at reducing barriers, building…
Kansas Fed's Economic Review, 2nd Quarter 2004
The Kansas City Fed's Economic Review 2nd Quarter 2004 includes an article "What Impact Will E-Commerce Have on the U.S. Economy?" which examines the economic factors that have contributed to the rapid growth of e-commerce and assesses how the future…
Danish cb's Monetary Review, 2nd Q 2004
The Danmarks Nationalbank's Monetary Review for the second quarter 2004 describes and comments on recent trends in external finance and domestic credit. It also includes articles on areas of the Nationalbank's work. The Monetary Review also presents…
Fed watching prices closely says Santomero
The Federal Reserve is closely watching price increases in various industries, Philadelphia Fed President Anthony Santomero said on US television.
Dallas Fed's McTeer - Inflation rise likely a blip
Increases in US inflation recently may prove to be a blip but the Federal Reserve needs two to three more months of data before it can make this judgment, Dallas Fed president Bob McTeer said on Tuesday 13 July.
Fed's Hoenig sees US inflation staying in 2% range
U.S. inflation should remain contained despite strong growth, Federal Reserve Bank of Kansas City President Thomas Hoenig said on Tuesday 14 July.
House prices likely to grow slowly Fed study shows
House prices in the US are likely to grow at the slowest pace in more than three decades as interest rates climb and land prices take a tumble over the next three years, researchers at the Federal Reserve have estimated in a new study.
Chirac calls on ECB to consider Europe's growth
The European Central Bank should not limit its role to controlling inflation and should review its mission so that it can take into consideration Europe's growth, French President Jacques Chirac said on Wednesday 14 July .
ECB on Court of Justice decision on Pact
The European Central Bank (ECB) said in a statement released Tuesday 13 July that it takes note of the judgement by the Court of Justice on the Council's actions of 25 November 2003.