Central Banking
Zimbabwe: Retrenched staff stuck in limbo
The Zimbabwe Standard reported this week that several senior Reserve Bank of Zimbabwe officials targeted for retrenchment are sitting idle at the bank, more than two months after the central bank said they would be laid off.
Trichet on the international role of the euro
In a speech on 'The international role of the euro' given on 14 May, Jean-Claude Trichet of the ECB said the position on currency developments spelled out in the last two G-7 communiques in February and April remains valid.
Greenspan on financial literacy
In a speech on 'Financial literacy' given on 13 May, Alan Greenspan of the Federal Reserve said in an increasingly complex economy, the skill level that you reach in your 20s will surely be inadequate for the needs of our economy when you reach 40. His…
Fed's Bies on U.S. - EU regulatory dialogue
In a speech on 'U.S. - EU regulatory dialogue' given on 13 May, Susan Schmidt Bies of the Federal Reserve said major US banks have more work ahead to get their internal risk management models up to standard for judging capital adequacy.
Retired central bank staff in Canada may sue
A group of 1,200 Bank of Canada retirees may sue the central bank, claiming it refuses to discuss sharing a surplus in the employee pension plan, a report by Bloomberg said.
Music maestro
Speaking on Thursday 13 May to a group of high school students in Chicago, Alan Greenspan shared some personal memories including life on the road with a dance band as a clarinet and saxophone player.
A new face in European monetary policy
This article published on Friday 14 May in the Frankfurter Allgemeine Zeitung says Axel Weber may instill fresh ideas and a new impulse into the weakened German central bank. As a renowned expert in monetary and financial market issues, Weber looks like…
McTeer says Fed must work harder on growth
Dallas Fed president Bob McTeer said on Thursday 13 May that the Fed must work harder to promote growth and lift employment.
EU adds price stability goal to constitution
European Union negotiators have agreed to enshrine the goal of price stability in the bloc's first constitution, meeting a demand of European Central Bank President Jean-Claude Trichet.
ADB meeting hears single currency decades away
The Asian Development Bank (ADB) annual meeting heard on Friday 14 May that East Asia's dream of a European Union-style single currency remains decades away, although initial steps have been taken towards regional economic and financial integration.
Japanese economy on right path says Tanigaki
Speaking on Friday 14 May, Japanese Finance Minister Sadakazu Tanigaki said that Japanese economic conditions were broadly positive at the moment despite some turbulence on the stock market.
World Bank 'missing' $100bn
Corruption may have sapped as much as $US100 billion from World Bank lending projects to help poor countries, a key US senator said on Friday 14 May.
ECB's Issing on asset prices and monetary policy
In the speech 'Financial Integration, Asset Prices and Monetary Policy' given on 10 May Otmar Issing of the ECB said other central banks have started to give greater weight to asset price developments. The RBNZ is a point in case he said. This release…
Tumpel-Gugerell: ECB role in financial integration
In the speech 'The Role of the ECB in Financial Integration' given on 11 May Gertrude Tumpel-Gugerell of the ECB said the euro area offers opportunities to share risk and to allocate capital more efficiently to investment opportunities across all…
Fukui on economic growth and overcoming deflation
In the speech 'Achieving Sustainable Economic Growth and Overcoming Deflation' given on 13 May Toshihiko Fukui of the Bank of Japan said the BOJ will continue its extremely easy monetary policy in order to support private sector efforts to deal with…
Nyberg: Economic situation & the property market
Deputy Governor of the Sveriges Riksbank Lars Nyberg spoke Wednesday 12 May about the economic situation and the property market. He said price developments in the housing market are being talked about as a possible bubble and pose a risk of overheating.
ECB Monthly Bulletin, May 2004
The European Central Bank published its May 2004 Monthly Bulletin on 13 May. The ECB's regular quarterly "Survey of Professional Forecasters", contained in the report said the experts had revised downwards their growth forecast for this year to 1.6…
Professor Issing gives Mais lecture
As usual, the Mais lecture given at the Cass Business school, this year given by Professor Otmar Issing, chief economist and executive board member of the ECB, was a very pleasant City/academic occasion.
Moskow says Fed can raise rates gradually
The Federal Reserve intends to raise U.S. interest rates at a gradual pace, though much depends on developments in the economy, Chicago Fed President Michael Moskow said on Wednesday.
Weber urges spending cuts by German govt
In his first speech as Bundesbank president, Axel Weber urged the German government to cut spending and push ahead with key reforms to prioritise reining in the fiscal deficit below the 3-pct-of-GDP limit set by the EU stability and growth pact.
Greece presents special Olympic coin
Greece presented the first commemorative Olympics coin to be denominated in euros, aiming to raise funds for its overstretched Olympic budget. The coins were due to go on sale Thursday 13 May.
Trans-Tasman currency to be discussed
Australia's high commissioner to New Zealand is promoting a common currency between the two countries as a way to advance the trans-Tasman relationship.
Chicago Fed's Moskow on the US economic outlook
In the speech 'U.S. Economic Outlook' given on 11 May Michael Moskow of the Chicago Fed said while the rate of U.S. inflation appears to be on the rise, the increase is not substantial enough to worry about. He also said the current degree of policy…
Santomero on monetary policy and the economy
In the speech 'Monetary policy and the economy' given on 11 May Anthony Santomero of the Federal Reserve Bank of Philadelphia said US monetary policy is unlikely to turn "restrictive" as the Federal Reserve raises interest rates at "a measured pace" in…