Central Banking
IMF sees need for Japan inflation target
A senior adviser at the IMF's research department said Friday that the Bank of Japan needs to create expectations that deflation can be beaten and should consider introducing an inflation targeting policy.
Wim Duisenberg gets award from Austrian president
Decoration for Dr. Willem F. Duisenberg, President of the European Central Bank from the President of Austria, 9 May 2003.
Chicago Fed 2003 Bank Structure Conference
On May 7-9, the Federal Reserve Bank of Chicago will hold its 39th annual Conference on Bank Structure and Competition. The conference, to be held at the Fairmont Hotel in Chicago, has a rich tradition of serving as a forum to encourage an ongoing…
Role of Money Stock in Conducting Monetary Policy
Bank of Japan research paper examining economic and financial developments since the 1990s. This paper discusses (1) the role of he money stock within the Bank of Japan's (the Bank's) monetary policy and (2) why the relationship between the money stock…
Rutledge on Implementing the New Basel Accord
In the speech 'Implementing the New Basel Accord' William Rutledge of the Federal Reserve Bank of New York said that effective supervision of modern banking organisations will necessarily entail a closer and more cooperative partnership between industry…
Regular OTC Derivatives Market Statistics
The Global OTC Derivatives Market at end-December 2002, 8 May. The BIS is releasing today its semiannual statistics on positions in the global OTC derivatives market for end-December 2002. The statistics cover the notional amounts and gross market values…
Bank of England Maintains Interest Rates at 3.75%
The Bank of England's Monetary Policy Committee on Thursday voted to maintain the Bank's repo rate at 3.75%.
CBO tightens norms for appointment bank personnel
Under new rules banks will have to assess the suitability of candidates for senior positions such as CEO's under 'competence criteria' set by the central bank of Oman (CBO) before approaching the CBO for approval of the appointment.
ECB hold interest rates steady at Thursday meeting
At its 8 May meeting the Governing Council of the ECB decided to maintain the current level of interest rates for the eurozone.
Ecuador's Gutierrez withdraws bill from Congress
Four days after the president of Ecuador submitted a bill to Congress which aimed at reform of the central bank, the bill was withdrawn. President Gutierrez said the withdrawal aimed to "reformulate and enrich it with opinions from the Central Bank,…
Lebanon's Saidi: Banks need new e-finance systems
First vice-governor of the Central Bank of Lebanon, Nasser Saidi, said banks should aim to develop Arab regional payment networks and to integrate national payment networks.
Russia may allow central bank to issue bonds
Russia's finance ministry plans to present a draft resolution allowing the central bank to issue zero-coupon bonds.
Hungary may delay euro adoption until 2009 or 2010
Hungary's central bank chief has said the country will have to delay adoption of the euro until 2009 or 2010 if Hungary is not able to meet budget deficit targets.
Report says Bank of Canada broke contract rules
The Canadian Press reports that the Bank of Canada apparently broke its own financial rules over the awarding of contracts worth millions of dollars. Apparently the Bank twice hired consulting firms without getting competing bids and then paid them…
FATF cancels Philippine mission due to Sars fears
The Financial Action Task Force has cancelled a mission to the Philippines due to the threat posed by Sars.
ECB to aim for inflation 'close to 2%'
The ECB said Thursday that its Governing Council agreed that in the pursuit of price stability it will aim to maintain inflation rates close to 2% over the medium term. "This clarification underlines the ECB's commitment to provide a sufficient safety…
Federal Reserve keeps interest rates unchanged
The Federal Open Market Committee decided to keep its target for the federal funds rate unchanged at 1-1/4 percent, 6 May.
Moskow on open markets and expanded trade
In the speech 'Open Markets and Expanded Trade' Michael Moskow of the Federal Reserve Bank of Chicago said he accepts the consensus view among economists that there's a relationship between globalization and prosperity. But agreement or disagreement on…
Cathy Minehan on the economic outlook
In a speech to the Vermont Economic Outlook Conference Cathy Minehan of the Federal Reserve Bank of Boston said the combination of inherent economic resiliency, patience and perspective on all our parts, and a tendency toward more rather than less stable…
QIS 3 - Basel Committee releases Impact Study
The Basel Committee on Banking Supervision has released the results of the latest field test of new capital rules. This is the third impact study undertaken by the committee and was intended to show how the committee's new capital accord will impact the…
Fed's Bies on corporate governance
In the speech 'Corporate Governance' Susan Schmidt Bies of the Federal Reserve said she believes the Sarbanes-Oxley act is a wake-up call for the internal auditing profession.
UK Treasury rejects MPC transparency call
The UK Treasury has rejected calls for its selection procedure to the Bank of England's interest rate setting MPC to be more open saying that the appointment process should remain confidential for reasons of market sensitivity.
Banque de France staff urged to strike
Unions have called for further strike action by Bank of France employees over the decision by the Bank to reform its branch network.
US forces recover $800m of 'stolen' Iraqi cash
The US state department said Tuesday that about $800m that was stolen from the central bank of Iraq has been recovered.