Central Banking
Moskow on monetary policy and the jobless recovery
In a speech on 'Monetary Policy and the Jobless Recovery Puzzle' given on 1 April, Michael Moskow of the Federal Reserve Bank of Chicago said it was too soon to know when the Fed would begin to raise interest rates from the lowest level since 1958.
Heikensten: Introduction on monetary policy
In a speech on 'Introduction on monetary policy' given on 1 April, Lars Heikensten of the Sveriges Riksbank said we can now see that the economic upswing is continuing to strengthen gradually. Industrial activity has made some progress; export demand is…
Survey of developments in e-money
The Committee on Payment and Settlement Systems (CPSS) has published its March 2004 Survey of developments in electronic money and internet and mobile payments. In this survey the number of participating central banks and monetary authorities has…
Hungary set to delay eurozone entry
The Hungarian government is likely to delay the country's euro entry by one or two years from the original target of 2008, finance minister Tibor Draskovics said on Thursday 1 April.
Foreign reserves hit record high in South Korea
South Korea's foreign currency reserves hit a record high of 163.56 billion dollars at the end of March, according to the Bank of Korea.
IMF and WB to play part in Iraqi debt settlement
Russian Finance Minister Alexey Kudrin said on Friday 2 April that the issue of Iraqi debt settlement will be solved together with the World Bank and the International Monetary Fund (IMF).
IIE sees strong economic growth in coming years
The Institute for International Economies (IIE) says that world economic growth will reach its highest rate in a generation in 2004 led by strong performances in the US and emerging Asia, before moderating in 2005.
Sveriges Riksbank cuts repo rates to 2.0%
At its meeting on 31 March, the Executive Board of the Riksbank decided to lower the repo rate by 0.5 percentage points to 2.0 per cent. This decision was based on the picture of future inflation in the Riksbank's latest Inflation Report.
Sveriges Riksbank Inflation Report, No.1, 2004
Sweden's central bank, the Sveriges Riksbank, has published its First Inflation Report for 2004. The report said that there are increasingly clear signs that the Swedish economy is about to recover, after an unusually mild economic downturn. Inflation…
Fed rate change near election ' political'
Changing interest rates near the U.S. presidential election is an inherently political act the Federal Reserve would try to avoid, but if it has to move it will, a top Fed policy-maker said on Tuesday 30 March.
Guynn: Rates must return to neutral
Low US interest rates must be brought back to a more neutral level and if they stay down for too long financial market excesses can build, Atlanta Fed chief Jack Guynn said on Tuesday 30 March.
ECB opinion of proposed member of Executive Board
At the 1 April meeting of the Governing Council of the ECB it adopted an opinion on a recommendation from the Council of the European Union on the appointment of a new member of its Executive Board.
ECB questions and answers
The European Central Bank held interest rates unchanged at its meeting on 1 April. Jean-Claude Trichet told the afternoon press conference the ECB's key rates remain "in line with the maintenance of price stability" in the eurozone, although recent…
Japanese Tankan report shows signs of improvement
There are further signs of economic recovery in Japan, with a key measure of Japanese business confidence at its highest level in seven years.
IMF warns of Philippines debt crisis
The International Monetary Fund has expressed "serious concerns" over the Philippines government's budget and indebtedness in a report.
Fed says Greenspan in 'fine' health
The Federal Reserve has dismissed the rumour which swept financial markets on Wednesday 31 March that Fed Chairman Alan Greenspan had suffered a heart attack.
Top Islamic bankers meeting in Bali
The Islamic world's top central bankers are meeting in Bali to tackle problems ranging from personnel to paperwork that hinder Islamic banking.
Back to the future? Assessing the deflation record
This BIS Working Paper looks back to a period when deflation was a regular feature of the economic environment, and says the phenomena comes in three basic types: the good, the bad and the ugly. It finds that despite periods of deflation it was not…
Kohn on research at the Federal Reserve
In a speech on 'Research at the Federal Reserve Board: The Contributions of Henderson, Porter, and Tinsley' given on 26 March, Donald Kohn of the Federal Reserve said the Fed's armada of economic researchers play an important role in helping policymakers…
Brazil doesn't plan to renew IMF accord, Meirelles
The Brazilian government doesn't plan to renew a $14.8 billion loan accord with the International Monetary Fund that expires this year, as it is accumulating foreign reserves, central bank president Henrique Meirelles said.
IADB conference opens in Peru
Finance ministers and central bank presidents from 46 nations are meeting in Lima to participate in the Inter-American Development Bank conference, which opened on Monday 29 March.
Eurozone inflation remains at four-year low
Inflation in the 12-nation eurozone stood at a four-year low point of 1.6 percent in March, unchanged from February, Eurostat said in a preliminary estimate on Wednesday 31 March.
BSP raises $500M from foreign banks
The Philippine central bank said on Wednesday 31 March that it has raised 500 million dollars in financing from a syndicate of eight foreign banks.
Eurozone to recover despite mixed signals
Slow consumer spending is casting a shadow over the short-term outlook for the eurozone economy, the European Commission said in a report, agreeing with concerns expressed by the European Central Bank.