Central Banking
Bank of Canada Research Fellowship Award for 2004
The Bank of Canada announced on Thursday 4 March that Professor Rene Garcia, of the Universite de Montreal, is the recipient of the bank's Fellowship award for research for 2004.
St Louis Fed's Central Banker, Spring 2004
The Spring 2004 edition of the St. Louis Fed's Central Banker magazine has been published. The latest issue carries a report on the new plans for the Little Rock and Louisville branches after the restructurings are complete, and the senior vice president…
Fed says foreign central banks buying record debt
Holdings of U.S. debt by foreign central banks have hit a new record, the Federal Reserve said on Thursday 4 March, the 19th straight week that purchases of Treasury and agency paper have risen.
Schroeder calls for better dollar/euro balance
Speaking on Friday 5 March, German Chancellor Gerhard Schroeder said he would be happy if the dollar and euro "come into a reasonable balance".
Jarai: Hungary further and further away from 2008
President Zsigmond Jarai of the National Bank of Hungary said in a TV interview that Hungary is slipping "further and further away" from the introduction of the euro in 2008.
PBOC repeats plan to perfect exchange rate regime
China plans to give the market a greater role in setting the exchange rate for the yuan, but will keep the fixed currency basically stable for now, the country's foreign exchange chief said on Friday 5 March.
OECD upbeat on prospects for world economy
The Organisation for Economic Co-operation and Development said on Friday 5 March that US economic prospects continue to improve, along with those of all major industrialised economies of the world except Italy.
IMF contenders line up after Kohler's shock exit
Horst Kohler's decision on Thursday 4 March to step down a year early from the IMF to accept a nomination to become German president has seen various names enter the fray as possible successors, including UK chancellor Gordon Brown.
IMF pats BOE on back
The IMF, in a report following annual consultations with London, said on Friday the British economy "has weathered the global slowdown well" and that following a slowdown in the wake of the Iraq war, "economic activity has staged a strong recovery."
Greenspan 'Maestro of Chutzpah'
In his New York Times column "Maestro of Chutzpah", Paul Krugman says Alan Greenspan "betrayed his institution, and the nation" by using his office to promote a political agenda.
Bank of Canada announces anti-counterfeiting award
The Bank of Canada announced on Wednesday 3 March the creation of a Law Enforcement Award of Excellence that will be presented annually to an official who demonstrates outstanding commitment and initiative in the fight against banknote counterfeiting.
Federal Reserve Board - Beige Book, March 2003
The Federal Reserve released its March 2004 survey of Current Economic Conditions, known as the Beige Book, on 3 March. The report said economic activity continued to expand in January and February but on the jobs front the report found employment …
Lithuania begins euro transition preparation
The Lithuanian government approved a proposal on Wednesday 3 March for the country to join the European Union's exchange rate mechanism, which is crucial before Lithuania can join the euro.
Trichet firm on ECB's independence
European Central Bank president Jean-Claude Trichet said at the ECB's post- meeting press conference on Thursday 4 March that the bank should never be influenced by political pressure when it takes interest rate decisions.
Bank of England keeps rates on hold
The Bank of England left interest rates at 4 per cent on Thursday 4 March; economists speculated that the MPC wanted to see how households were adjusting to the higher cost of borrowing.
Brazil senate committee wants to quiz Meirelles
The Brazilian senate's economic affairs committee has invited Finance Minister Antonio Palocci and Central Bank President Henrique Meirelles to explain the government's economic policy, the Senate's news agency reported.
The ECB's new headquarters may bring image change
This article looks at the ECB's new HQ plans and examines other central banks' architecture. The Bank of Japan's main office looks suspiciously like the Bank of England which has a grand, imperial flavour, it says. Then there's the Federal Reserve with a…
China to keep monetary policy & yuan stable in 04
China's Premier Wen Jiabao will tell parliament on Friday 5 March that China will retain stable monetary policy and proactive fiscal policy in 2004, but aims to pare down lending to duplicate projects to curb over-investment.
IMF's Koehler named candidate for presidency
Horst Koehler, managing director of the IMF, is to become the candidate of the opposition parties for president of Germany. If he is elected by parliament in a vote on May 23, he will leave his IMF post a year before his term runs out.
Greenspan on the current account
In the speech 'Current account' Alan Greenspan of the Federal Reserve kept up his record of making a comment on a key policy issue every day by saying Tuesday that the yen appeared to be "elevated" against the dollar.
Bernanke on money, gold, and the Great Depression
In the speech 'Money, Gold, and the Great Depression' given on 2 March Ben Bernanke of the Federal Reserve said that research into the global spread of the Great Depression adds to the view that policy errors fostered the devastating economic downturn.
RBA's Edey on economic issues in 2004
In the speech 'Economic Issues in 2004' given on 3 March Malcolm Edey of the Reserve Bank of Australia said the Australian economy has generally grown at a pretty good pace over the last few years, despite an unfavourable international climate for much…
China rejects Greenspan's forex warning
China dismissed warnings by Fed chief Alan Greenspan that it faces serious economic consequences if it continues to mount up massive US dollar holdings as it defends the dollar pegged yuan system.
Norway says no plan to resume forex buying
Norway's central bank reaffirmed on Wednesday it had no plans to resume purchases of foreign exchange for the country's USD 121 billion oil fund.