Central Banking
EU Parliament approves Gonzalez-Paramo to ECB
The European Parliament on Monday 19 April endorsed Spain's Jose Manuel Gonzalez-Paramo to succeed ECB board member Eugenio Domingo Solans next month.
Liikanen appointed Bank of Finland governor
Erkki Liikanen was appointed Governor of the Bank of Finland today (23 April) by the President of Finland. He will take up his duties from 12 July.
Focus on Weber, the Bundesbank's surprise choice
Little was known about economics professor Axel Weber, the German government's surprise choice to head the Bundesbank this week, who told a news conference on Wednesday 21 April that he jogs to relax.
Bernanke on US economic outlook & monetary policy
In a speech on 'The economic outlook and monetary policy' given on 22 April, Ben Bernanke of the Federal Reserve said there are no signs of overheating in the U.S. economy, so inflationary pressures are likely to remain subdued. He said he was "sanguine"…
Solans on statistics & their use by central banks
In a speech on 'Statistics and their use by central banks' given on 23 April, Eugenio Domingo Solans of the ECB said the business area in charge of statistics in the central bank should have an appropriate organisational level in order to fulfil the…
The new Bank of England quarterly model
The Bank issued an article entitled "The New Bank of England Quarterly Model" on 22 April, describing a new macroeconomic model used to help prepare the Monetary Policy Committee's Quarterly economic projections.
Fed Reserve Bank of Cleveland - Annual Report 2003
The Fed Reserve Bank of Cleveland has published its Annual Report for the year ended 2003. Concerns about jobs and the economy top the national agenda and have fueled the debate among academics and policymakers regarding the source of economic prosperity…
Volcker to probe Iraq oil for food program
Paul Volcker, the former chairman of the Federal Reserve, began a high-level investigation on Wednesday 21 April into allegations of kickbacks and bribes in the UN-run oil-for-food program for Iraq.
Interview with ECB president Jean-Claude Trichet
In an interview published on Friday 23 April, Jean-Claude Trichet said the European Central Bank is proud to be a central bank with one of the highest levels of predictability. He also said he was struck by the pessimism shown by many on the potential…
Meirelles: Brazil's inflation target won't change
Brazilian Central Bank President Henrique Meirelles said on Thursday 22 April that the strict inflation targets set for 2004 and 2005 would not budge despite investor fears they may hinder badly needed growth.
Fed's Ferguson: no threat from current account gap
Speaking on Friday April 23, Roger Ferguson, Vice Chairman of the Federal Reserve, said that there was no reason to fear that the process of reining in big US trade deficits would disrupt global economic activity.
Trichet defends ECB stance on rates
ECB president Jean-Claude Trichet said in an interview that the bank is "neutral" on interest rates but insisted any changes in the economic outlook will be considered. He also said the sharp rise in oil prices poses a risk to the global economy unless…
Kansas Fed's Hoenig expects US growth this year
The president of the Kansas Fed said Thursday night that he expects a 4 1/2 percent to 5 percent increase in U.S. gross domestic product this year.
Constancio: EU's 10 new members must curb deficits
Vitor Constancio, the governor of the central bank of Portugal, said Friday that the 10 countries set to join the European Union on May 1 should remain outside the eurozone until their public deficits are well below the EU's three percent limit.
Welteke's parting words
Here we republish Ernst Welteke's personal statement on his resignation from the Bundesbank. In the statement Welteke said the Bundesbank's independence continued to be flouted and that the trust between himself and the Ministry of Finance had been …
Parry on the U.S. and regional economies
In a speech on 'The U.S. and Regional Economies: A Monetary Policymaker's Perspective' given on 21 April, Robert Parry of the San Francisco Fed said interest rates will eventually need to rise "significantly" to head off inflation but the US economy can…
Padoa-Schioppa on financial markets in Asia
In a speech on 'The role of financial markets in sustaining economic growth in Asia' given on 20 April, Tommaso Padoa-Schioppa of the ECB said if it is to be expected that exchange rate flexibility is the long-term outcome of the growth process currently…
Lambert: Boring Bankers - Should we listen?
In the speech 'Boring Bankers - Should we listen?' given on 22, April Richard Lambert of the Bank of England discussed the importance of good communications to modern central banks.
Canada's Dodge at H of C Finance Committee
In his opening statement to the House of Commons Finance Committee given on 21 April, David Dodge of the Bank of Canada said preliminary indications are that growth in the first quarter of this year was marginally below 3 per cent. The Bank's view, he…
Fed Res Bank of Philadelphia - Annual Report 2003
The Federal Reserve Bank of Philadelphia has published its Annual Report for the year ended 2003. In the report President Anthony Santomero said he expects the economy will grow at a "healthy pace" and job growth will accelerate through 2004.
Federal Reserve Board - Beige Book, April 2004
The Federal Reserve released its April 2004 Beige Book survey on 22 April. The U.S. economy showed "widespread" growth from mid-February through early April with only modest inflation, the survey said.
Fukui to visit Washington for G-7, IMF meetings
Bank of Japan (BOJ) Governor Toshihiko Fukui will visit Washington for a five-day stay from Thursday 22 April to attend weekend meetings of the Group of Seven (G-7) finance ministers and central bank chiefs, the BOJ said Wednesday.
Meirelles tells Wall St Brazil is on right track
Brazilian Central Bank President Henrique Meirelles attempted to calm investor worries over Brazil on wednesday 21 April by stressing that the economy would meet its fiscal targets for 2004.
IMF upgrades outlook for world economic growth
The International Monetary Fund said in its twice-yearly World Economic Outlook report that it was lowering its 2004 eurozone growth estimate by a tenth of a point from its forecast last September, to 1.7 percent.