Central Banking
RBZ head Gono receives death threats
The head of the Reserve Bank of Zimbabwe, Gideon Gono, picked by President Robert Mugabe to lead the government's anti-corruption drive, has claimed he has received death threats from corrupt businessmen and politicians, a newspaper reported this week.
Woman tries to spend fake $1 million note
A US woman was charged with forgery this week after trying to spend a $1 million bank note in a Georgia supermarket. Staff refused to accept the note or hand over her $998,328.45 in change (if they had it!) and called the manager.
Developing nations seek IMF top job
While the smart money is increasingly moving towards Spanish Finance Minister Rodrigo Rato as Horst Kohler's successor at the IMF, developing countries have waded into the debate and staked their claim to the Fund's top job.
Second ECB conference on statistics
The European Central Bank confirmed on Thursday 11 March that it will hold its second conference on statistics on 22 and 23 April 2004 in Frankfurt on "Statistics and their use for monetary and economic policy-making".
RBNZ Monetary Policy Statement, March 2004
The Reserve Bank of New Zealand has published its Monetary Policy Statement (MPS) for March 2004. Speaking at the release of the Statement Governor Alan Bollard said New Zealand has continued to enjoy a period of sustained economic growth over recent…
Chicago Fed's 2004 Payments Conference
The Federal Reserve Bank of Chicago's fourth Payments Conference entitled, "An Electronic Supply Chain: Will Payments Follow?" will begin at noon on May 26 and conclude mid-day on May 27 at the Chicago Fed's conference center.
Park on Korea's bank supervisory arrangements
In a speech on 'Korea's experience in the choice of bank supervisory arrangements' given on 12 February, Dr Seung Park of the Bank of Korea said he thinks it is crucial that the supervisory agency be required to consult with the central bank before the…
Constancio warns on Portugal's public finances
Antonio Constancio, Governor of the Bank of Portugal, has warned that the country's public finances are in deep trouble and it will be difficult for the government to keep the deficit below the EU's 3 per cent limit.
Germany considers offloading 600 tons of gold
Ernst Welteke told a parliamentary committee on Wednesday 10 March that the Bundesbank wanted to sell 600 tons of gold over the next five years from its stock of 3,400 tons. But politicians said the funds should be used to cut debt, something the…
Padoa-Schioppa: Low eurozone growth not ECB fault
Tommaso Padoa-Schioppa said in an interview that low economic growth in the eurozone is not due to the ECB's current monetary policy, adding that interest rates are already low.
Balcerowicz plays down Polish early euro hopes
National Bank of Poland governor Leszek Balcerowicz said in an interview on Thursday 11 March that the country needed sounder finances before linking its currency to the euro.
CNB sets 2006 inflation target at 2-4% upto euro
The Czech National Bank (CNB) has decided to keep its inflation target between 2 % and 4 % for the period starting January 2006, according to a CNB spokeswoman.
RBNZ leaves rates unchanged at 5.25 per cent
The Reserve Bank of New Zealand decided to leave the Official Cash Rate unchanged at 5.25 per cent on 11 March. Alan Bollard said the overall CPI inflation rate has so far been offset by weak imported inflation due to the rising NZ dollar exchange rate.
RBNZ propose ability to intervene in forex market
The Reserve Bank of New Zealand on Thursday 11 March recommended to the Minister of Finance that, as one of its monetary policy implementation tools, it should have the capacity to intervene in the foreign exchange market to influence the level of the…
ECB Monthly Bulletin, March 2004
The European Central Bank published its March 2004 Monthly Bulletin on 11 March. The Bulletin reported that the main scenario of a continued gradual recovery in the course of 2004 and 2005 remains valid.
ECB's Noyer sees upturn in French economy
Bank of France governor Christian Noyer was quoted on Thursday 11 March as saying he had hopes that French growth could accelerate despite the strength of the euro.
ECB's Welteke: risks to eurozone economy remain
Bundesbank President and European Central Bank governing council member Ernst Welteke said on Thursday 11 March that he saw a higher risk that the economy could deteriorate rather than improve.
Japan's Fukui: rough road until end of deflation
Bank of Japan Governor Toshihiko Fukui said on Thursday 11 March that he saw a "rough road ahead" until the end of deflation despite signs of recovery in the Japanese economy, repeating the BOJ's commitment to an easing policy.
PBOC says China to keep yuan 'basically stable'
The People's Bank of China said on Thursday 11 March that it will keep the exchange rate of the yuan "basically stable," despite continued pressure to allow it to float freely.
China to keep close watch on monetary policy
People's Bank of China governor Zhou Xiaochuan told a press conference that the PBOC will "keep a close watch" on the effects of monetary policy, and did not rule out the possibility of an increase in interest rates later this year.
Greenspan on education
In testimony on education given to the House Education and Workforce Committee on 11 March Alan Greenspan of the Federal Reserve said that "employment will begin to increase before long," and that protectionist trade barriers were not the answer to…
Norway cuts interest rates further
Norges Bank cut its key interest rate on Thursday 11 March by 0.25 per cent to a new record low of 1.75 per cent to spur inflation in the oil-dependent economy. It was the tenth time that Norway has cut its main rate since it was at 7 per cent in…
Buba's Stark on promoting stability and growth
In a speech on 'Promoting Stability and Growth: Economic Reforms and Sound Institutions' given on 9 March, Jurgen Stark of the Deutsche Bundesbank said Argentina has a number of difficult years behind it, but the same time, the people of Argentina will…
International research forum on monetary policy
The European Central Bank has announced the venue and date of its third conference. Its purpose is to encourage research on monetary policy issues that are relevant from a global perspective.