Central Banking
Extra six months proposed for Duisenberg at ECB
A report by Belga News quoting official sources says Greece, as the current holders of the EU presidency, will propose that ECB president Wim Duisenberg stays on for another six months in office.
ECB's Papademos praises Ireland's economy
In a speech made in Dublin and reported by RTE News, the ECB's vice president, Lucas Papademos, said the Irish economy was a good example to others. He also outlined and defended the ECB's proposed new three-tier rotating voting system.
US seizes $1.62bn in Iraqi assets
The US has seized $1.62 billion in Iraqi assets and will use the money to rebuild the country once the conflict has ended, reports Associated Press
CentralBankNet Monday Special Feature
SPECIAL FEATURE - In an exclusive interview with CentralBankNet.com, Professor Fatih Ozatay, the vice-governor of the Central Bank of the Republic of Turkey, explains how the war in Iraq is affecting the central bank, and what it is doing to mitigate…
Bergstrom: Driving forces behind EMU
Deputy Governor of the Sveriges Riksbank Villy Bergstrom gave speeches on Thursday at a seminar for trade union representatives in Brunnsvik and at a meeting organised by the Study Promotion Association and JAK Bank in Orsa on the political and economic…
Guynn on the U.S. Economy: Where Are We Now?
In a speech on 'The U.S. Economy: Where Are We Now?' Jack Guynn of the Federal Reserve Bank of Atlanta said once we move beyond the uncertainty of war, the economy is poised for a pretty solid recovery. This time next year, he said, the recovery will be…
Treasury statement on the RBA Board appointment
Statement by Peter Costello, Treasurer of Australia on the appointment of Robert Gerard to the Board of the Reserve Bank of Australia, 25 March.
St Louis Fed Central Banker, Spring 2003
The Spring 2003 edition of the St. Louis Fed's Central Banker magazine has been published. The issue carries a report on the regional partnership being set up by the Cleveland and St.Louis Fed banks. There is also a feature on the condition of the…
Bush meets Fed chief to indicate priorities
Fed chairman Alan Greenspan met with George Bush earlier this week to brief the US president on the state of the US economy, according to a report in the Financial Post. The meeting came as Mr Bush prepared to ask Congress for at least US$70-billion to…
ECB April rate move unlikely - Welteke
A rate cut is not on the cards, at the moment at least, said Bundesbank chief Ernst Welteke on Wednesday. With the economic impact of the war still far from certain he said it made no sense to take any sort of action, according to a Reuters report.
No Iraqi money in Ukraine - Central Bank
Speaking on Wednesday March 27, Serhiy Tyhypko said that the US call to freeze Iraqi assets would not affect the Ukraine as the country did not hold any Iraqi bank accounts, according to a report by Interfax-Ukraine News Agency.
Bank of Canada appoints Desjardins to its Board
The Bank of Canada has appointed Jean-Guy Desjardins to its Board, according to the Financial Post. He will take up the position immediately.
Interview with Costa Rica's central bank chief
In an interview reported by Reuters, Costa Rica's central bank president Francisco de Paula Gutierrez said that cutting the country's fiscal deficit was a challenge, but he said he expected Costa Rica would meet a government deficit target of 3 percent…
Vahhaji takes over as central bank head in Iran
After the sudden death of the governor of the central bank of Iran, Mohsen Nourbakhsh, at the weekend, it has been announced by the Islamic Republic News Agency that the deputy governor will assume the position of interim governor.
Lebanese central bank fighting money laundering
A report issued on Wednesday March 26 says that the central bank of Lebanon is increasing its activities against suspected money launderers, according to a report in the Lebanon Daily Star. Central Bank Governor Riad Salameh is reported to have said in…
ABM lauds Bank Negara monetary measures
Malaysia's Association of Banks has praised measures set out by the central bank governor in the 2002 Annual Report. It said the steps would help maintain growth and support business activity.
HKMA Pay Adjustments 2003
The Hong Kong Monetary Authority (HKMA) announced on Thursday March 27 that the pay adjustments for staff of the HKMA would take effect in April 2003. The changes include a further reduction of just over 5% in fixed pay for Chief Executive Joseph Yam.
Dominican central bank chief becomes minister
The president of the Dominican Republic's central bank, Frank Guerrero Pratts, has been appointed foreign minister of the Caribbean nation, according to a report by Associated Press. The previous foreign minister resigned on Wednesday March 26 after…
De La Rue to take over BoE note printing operation
The UK Department of Trade and Industry has cleared bank note printer De La Rue's take over of the Bank of England's banknote printing operation, according to CMP Information.
IMF Global Financial Stability Report, March 2003
The International Monetary Fund published on 27 March its Global Financial Stability Report, the semiannual assessments of global financial markets. In the report the IM warned that a prolonged war in Iraq could hit global financial markets hard. The…
Bernanke - Perspective on inflation targeting
In a speech on 'A Perspective on Inflation Targeting' Ben Bernanke of the Federal Reserve said adoption of an explicit inflation goal was in his view the best way for the Fed to achieve its goals of stable prices and maximum sustainable growth. He added,…
ECB on reproduction and exchange of euro notes
New rules on the reproduction and exchange of euro banknotes have been issued by the ECB on 25 March 2003.
Norges Bank introduces new anti-counterfeit note
On 25 March, Norges Bank put a new version of the 100-krone note into circulation, designed to safeguard against counterfeiting.
G-10 Working Group report on contractual clauses
The Report of the G-10 Working Group on Contractual Clauses (September 2002) hes been published in March 2003. The report sets out the key features of collective action clauses for sovereign bonds that the G10 Ministers and Governors believe would, if…