Central Banking
Bundesbank warns eurozone rates may rise soon
The Bundesbank said in its November monthly report, released on Monday 17 November, that the ECB "could" be forced to raise interest rates as "It will be more difficult for monetary policy to guarantee price stability with low interest rates" with some…
China restate goal of eventual yuan convertibility
People's Bank of China Governor Zhou Xiaochuan said in an interview published Monday 17 November, reported by Reuters, that foreign exchange controls would gradually be relaxed and there would be a steady push towards convertibility of the yuan.
Riksbank makes statement on 'banknote discrepancy'
Sveriges Riksbank, the central bank of Sweden, released a statement on Friday 14 November regarding a discrepancy which had been discovered in a delivery of new banknotes from Crane AB to the Riksbank's subsidiary.
Interview: Lars Svensson
Lars E.O. Svensson, professor of economics at Princeton University since 2001, is among the most prominent academic advocates of inflation targetting. He is an adviser to the Sveriges Riksbank and a member of the Economic Advisory Panel of the Federal…
ECB's Solans on changeover to the euro currency
In a speech on 'The changeover to the euro currency' given on 13 November, Eugenio Domingo Solans of the ECB said based on the positive experience we have so far made with the euro and its smooth introduction, we can be confident that we will cope with…
Bundesbank's Remsperger on economic policy making
In a speech on 'Current challenges facing economic policy-makers' given on 3 November, Hermann Remsperger of the Deutsche Bundesbank said given the adjustments at the enterprise level, the urgently required reforms in the labour market and fiscal and…
Bank of Canada Review, Autumn 2003
The Bank of Canada published its Review for Autumn 2003 on 13 November. The Review includes articles titled "An Evaluation of Fixed Announcement Dates" "Recent Labour Market Developments in Canada" and "Developments, Issues, and Initiatives in Retail…
ECB publishes results of its bank lending survey
The European Central Bank published the report on the results of the October 2003 bank lending survey for the euro area on 13 November. The bank lending survey has been developed by the Eurosystem in order to enhance the understanding of bank lending…
IAIS launch improved website
The International Association of Insurance Supervisors (IAIS) has launched its new improved website at www.iaisweb.org. The website includes an extensively improved navigation and information layout, an elegant new design, information on forthcoming…
SBV, Bundesbank sign banking expertise agreement
The State Bank of Vietnam (SVB) has signed an agreement with the Deutsche Bundesbank which will allow executives and staff members of the SVB to receive training and advisory assistance through seminars, banking research and discussions with experts…
Slovene govt adopts programme for introducing euro
The government of Slovenia has introduced a programme for the country's entry to ERM2 and eventually the euro, reported Radio Slovenia. All parties unanimously backed the introduction of the euro to Slovenia "as soon as possible" on Thursday 13 November.
Bank of Japan's Ueda reiterates ultra-loose policy
Bank of Japan policy board member Kazuo Ueda said in a speech reported by AFX that the BoJ could maintain its ultra-loose monetary policy even after deflation is overcome, if it is judged necessary to maintain the policy.
Foreign central banks buy more U.S. debt - Fed
Holdings of US Treasuries by foreign central banks rose further above the $1.0 trillion level reaching a new record high in the latest week, according to a Reuters report. The Federal Reserve said on on Thursday 13 November that foreign central banks…
Fed's Santomero says rates can't stay low forever
Philadelphia Fed President Anthony Santomero said on Friday 14 November that although interest rates cannot stay at their current low rates in the indefinitely, there is no pressure for a rise in the near future, according to a report by Reuters…
Hungary to submit central bank independence bill
The Hungarian government has adopted the draft of a legal amendment aimed at strengthening the independence of the National Bank of Hungary, Interfax reports. According to the draft law to be submitted to parliament, the central bank and members of its…
Post referendum, Swedish euro opposition rises
A poll published on Friday 14 November showed that opposition to the euro has increased in Sweden since the euro referendum in September came down against the single currency, reports EU Business. Support for the euro fell from 42 to 38 percent, the poll…
Bulgaria signs partnership against fake money
The National Bank of Bulgaria (BNB) has signed an agreement on the establishment of a national centre to analyse forged and counterfeit money, according to a report by the Sofia Echo. According to BNB governor Ivan Iskrov, the central bank has the…
RBA's Macfarlane: Economic opportunities and risks
In a speech on 'Economic Opportunities and Risks over the Coming Decades', given on 13 November I.J. Macfarlane of the Reserve Bank of Australia said over any measure, say, 20 years, 10 years or even five years, Asia is the fastest growing region in the…
ECB Monthly Bulletin, November 2003
The European Central Bank published its November 2003 Monthly Bulletin on 13 November. This issue of the Monthly Bulletin contains three articles. The first reviews the main developments in the debt financing of the euro area private sector over recent…
IMF: Interest rates in low rate environment
This IMF Working Paper empirically evaluates the validity of the term structure of interest rates in a low-interest-rate environment. It applies a time-series method to high-frequency Japanese data, the term-structure model is found to be useful for…
Fed's Ferguson on Basel II updates
In a speech on 'The Proposed U.S. Approach to Regulatory Capital: An Update', given on 13 November Roger Ferguson of the Federal Reserve said we do not expect to slacken the high standards expected of banks operating under the advanced approaches for…
Bank of Finland capital base plan withdrawn
Finland's second Minister of Finance Ulla-Maj Wideroos has withdrawn a proposal she made that the Bank of Finland's capital base should be transferred to the government to repay state debts, according to a report by Helsingin Sanomat. The new proposal…
US bank regulators assess impact of Basel accord
Speaking on Thursday 13 November, Fed Vice Chairman Roger Ferguson said U.S. regulators are gathering data on whether the complex new Basel II rules will disadvantage institutions that lend to small businesses, home buyers or consumers according to a…
IMF admits mistakes in handling Asian crisis
The assistant director of the IMF Office for Asia and the Pacific, Charles Adams, has acknowledged that the Fund made mistakes during the Asian Crisis but not everyone agrees what the mistakes are, according to AFP. Some lending conditions were not…