Central Banking
Hungary's Jarai: euro accession by 2008 difficult
President of the National Bank of Hungary Zsigmond Jarai said on Monday 23 February that considerable sacrifices will need to be made if Hungary is to join the eurozone in 2008.
US - China group on currency to meet this week
A six-member US delegation will meet with officials from the People's Bank of China this week to discuss various financial issues including currency and banking matters.
Excerpt from interview with ECB's Otmar Issing
In an excerpt from an interview in the latest issue of Central Baking journal Otmar Issing, the ECB's chief economist, discusses potential weaknesses of inflation targetting and explains why money still matters in monetary policy.
Greenspan on education and the economy
In a speech on 'The critical role of education in the nation's economy' given on 20 February, Alan Greenspan of the Federal Reserve said warned against resorting to "protectionist cures" to deal with job losses.
Fed's Bernanke on the great moderation
In a speech on 'The Great Moderation' given on 20 February, Ben Bernanke of the Federal Reserve said said the Fed has been successful over years in fostering price stability and he is optimistic for the future because monetary policy-makers will not…
Gjedrem on economic perspectives
In a speech on 'Economic perspectives' given on 19 February, Svein Gjedrem of Norges Bank said a sharp rise in asset prices and debt accumulation may pose a risk to economic stability. With a view to mitigating this risk, it will be appropriate in some…
Norges Bank's accounts for 2003
Norges Bank's annual accounts for 2003 show a surplus of NOK 20.8 billion, compared with a deficit of NOK 24.1 billion in 2002. Norges Bank said that no transfer will be made to the Treasury from the Transfer Fund.
IMF managing director Horst Kohler to visit Asia
International Monetary Fund managing director, Horst Kohler, will travel to Japan and Korea in late February to meet with leaders and senior government officials.
US consumers in good shape, says Greenspan
Fed Chairman Alan Greenspan said on Monday 23 February that the US household sector seemed to be in good shape. Homeowners have done well, with their total debt burden kept under control.
McTeer says Fed wording moves focus from calendar
Dallas Federal Reserve President Robert McTeer said on Saturday 21 February that the shift in the wording of the FOMC's statement represented a an effort to force financial markets to focus on economic conditions rather than on time.
BOJ's Iwata: Inflation at 1-2% would be stable
Deputy Governor of the bank of Japan Kazumasa Iwata said in an interview that the BOJ will probably keep interest rates near zero until consumer prices rise about 1 to 2 per cent.
BIS offers to manage Philippines reserves- reports
The Philippines central bank is studying a BIS proposal to manage the country's gross international reserves. A source at the BSP said the BIS expressed interest in acting as its "external fund manager".
RBA tackles hidden fees in credit cards
The Reserve Bank of Australia ruled on Monday 23 February that Visa's debit card was a payments system and covered by the Payment Systems Act, allowing the bank to set standards for the card.
Mel Gibson's father: 'Greenspan should be lynched'
Well-known Hollywood Actor Mel Gibson is about to release a new movie, but in a bizarre interview his father has made some outrageous comments, including a mention for Alan Greenspan.
Bank Indonesia seeks replacement deputy governor
President Director ECW Nelloe of Bank Mandiri said on Wednesday (18 Feb) that he was not prepared to be nominated for the post of senior deputy governor of Bank Indonesia.
Poor Don Brash splattered with mud
Don Brash planned to take his message direct to the people after recent problems saw him accused of "Maori bashing". But all was not plain sailing for the former RBNZ chief.
'Toshihiko Goldilocks' world's top central banker
According to The Economist this week, Bank of Japan Governor Toshihiko Fukui is the world's best central banker. Fukui was prised for steering monetary policy in the right direction while his counterparts at the ECB and Fed came in for criticism.
BI aims for skills increase in staff
Supervisory staff at Bank Indonesia will be required to receive competence certificates under new measures to improve the banking industry.
Gerashchenko to co-chair of Russians Regions Party
Former chief of the Russian Central Bank Viktor Gerashchenko was elected co-chairman of the Russian Regions Party on Monday (15 Feb). The decision was made by the party's congress, after Sergey Glazyev was booted from the post.
Cleveland Fed's Pianalto reveals basketball link
Visiting a school recently, Cleveland Fed President Sandra Pianalto was mobbed for autographs by the schoolchildren who crowded round her.
Udovicki's future at NBS still in balance
The Serbian Parliament began a debate on proposed changes to legislation on presidential elections on Thursday (19 Feb). Parliament completed debate on the appointment of the National Bank governor but has yet to put it to a vote.
Bies on Financial Markets and Corporate Governance
In a speech on 'Financial Markets and Corporate Governance' given on 19 February, Susan Schmidt Bies of the Federal Reserve said the world of accounting needs to catch up with the growing sophistication of the world of finance. She urged accounting…
Philadelphia Fed Business Outlook Survey, Feb 2004
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, February 2004 activity in the region's manufacturing sector continues to expand although indicators for general activity, new orders, and shipments fell from their…
Bank of Canada Review, Winter 2003
The Bank of Canada published its Review for Winter 2003 on 19 February. The Review includes articles titled "The Comparative Growth of Goods and Services Prices" and "Current Account Imbalances: Some Key Issues for the Major Industrialized Economies".