Central Banking
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.
Report says China to move towards floating rates
A senior Chinese official told the UK Financial Times that Beijing no longer favours a fixed exchange rate and will move toward a floating system as part of reforms to loosen capital controls and give market forces more scope, the newspaper reported…
ECB's Trichet on structural reforms
In a lecture on the occasion of the receipt of the EFR-Business Week Award 2004 given on 20 April, Jean-Claude Trichet of the ECB said that European governments need to speed up economic reforms in order to improve the euro zone growth rate.
Canada's Dodge sees global rates rise in 2005
In his opening statement to the Senate Banking, Trade and Commerce Committee on 20 April David Dodge of the Bank of Canada said the main uncertainty for the outlook continues to relate to how the Canadian economy adjusts to global developments. But…
Greenspan on the state of the banking industry
In a speech on 'The state of the banking industry' given on 20 April, Alan Greenspan of the Federal Reserve said that the United States banking system is in good shape to deal with rising interest rates and inflationary pressures will be reasonably well…
Sweden's Heikensten on financial developments
Sveriges Riksbank Governor Lars Heikensten on Tuesday 20 April spoke in Vastervik at a seminar. Besides touching upon future developments in inflation, Heikensten discussed some financial aspects.
Bank of England MPC Minutes 7/8 April
Minutes of the Bank of England's Monetary Policy Committee Meeting were released on 21 April for the meeting of 7 and 8 April 2004. Eight of the nine MPC members opted to keep interest rates unchanged with only deputy governor Andrew Large supporting a…
BOJ's Suda says must tolerate rate rises
Bank of Japan Policy Board member Miyako Suda said on Wednesday 21 April that small rises in interest rates need to be tolerated because they reflect Japan's recovering economy.
Stability Pact crucial for EMU says Trichet
ECB President Jean-Claude Trichet said on Dutch television that the stability pact was crucial for the European Monetary Union and that the Netherlands had taken appropriate steps to avoid a budget deficit of above three per cent.
Speed of US rate rise key - Padoa-Schioppa
The risks to the US economy from a rise in US interest rates will depend on the speed at which the Federal Reserve moves, European Central Bank executive board member Tommaso Padoa-Schioppa said on Tuesday 20 April.
Vigorous growth yet to produce inflation-Greenspan
Federal Reserve Chairman Alan Greenspan said on Wednesday 21 April in testimony titled "The economic outlook" that the U.S. economy is in a `vigorous expansion' that has not yet produced `broad-based' inflation pressures.
Germany nominates new central bank head
An economics professor, Alex Weber, is the German government's surprise choice for Bundesbank president. Government officials officially nominated the 47-year-old University of Cologne professor after a cabinet meeting on the morning of Wednesday 21…
Fukui on the BOJ's semiannual report
In a statement concerning the Bank of Japan's Semiannual Report on Currency and Monetary Control given on 13 April Toshihiko Fukui said in contrast to a year ago, positive signs are steadily increasing in Japan's economy. At the same time, however, there…
Minutes from the Sveriges Riksbank Meeting, 31 Mar
Minutes of the Sveriges Riksbank Executive Board meeting on 31 March, published 20 April. The minutes said the Swedish economy would recover gradually and largely follow the developments estimated in the Riksbank's December Inflation Report. This meant…
Malaysia's Zeti on the new capital accord
In the speech 'Enhancing the soundness of the banking sector - The New Capital Accord' given on 15 April Zeti Akhtar Aziz of the Central Bank of Malaysia said despite the increased sophistication of the regulatory capital framework and internal economic…
Singapore's Loong on ASEAN - the way ahead
In the speech 'ASEAN - the way ahead' given on 7 April Lee Hsien Loong of the Monetary Authority of Singapore said globalisation has presented many challenges to ASEAN, but it has also created many opportunities. Governments will need to lead the way, by…
Central Bank of Malta - Annual Report 2003
The Central Bank of Malta has published its Annual Report for the year ended 2003. The Report sees a modest pick-up in activity during 2004, underpinned by higher public sector investment as well as a recovery in exports.
Europe's beleaguered central bankers
This article from BusinessWeek says what unsettles investors isn't so much that the ECB held rates steady at its last meeting but that Trichet hinted the ECB was going to do one thing and then it did something else. It also looks at the scandals…
OECD calls for eurozone interest rate cut
Eurozone interest rates should be cut by the European Central Bank, the head of the OECD suggested Monday.