Central Banking
BIS play down fears for US economy
The regular BIS meeting of top central bankers on Monday played down fears for the US economy with Bank of England Governor Sir Edward George saying that "a gradual strengthening of the U.S. economy seems a more likely prospect than significant weakening…
Joseph Yam appointed Chairman of the BIS ACC
The Board of Directors of the Bank for International Settlements (BIS) on Monday 10 March announced Joseph C K Yam as Chairman of the BIS Asian Consultative Council (ACC). Mr Yam is Chief Executive of the Hong Kong Monetary Authority.
G10 meeting on banking supervision
Meeting of G10 central bank governors and heads of banking supervision - The G10 central bank governors and heads of banking supervision met on 9 March in Basel to discuss issues related to the Basel Committee on Banking Supervision.
ECB Press Conference, 6 March
PRESS CONFERENCE - At the press conference which followed the ECB's decision to reduce interest rates Thursday Wim Duisenberg intimated that the circumstances which led to the cut have only really become clear in the last month. Price stability over the…
RBNZ Monetary Policy Statement, March 2003
REPORT - The Reserve Bank of New Zealand has published its Monetary Policy Statement (MPS) for March 2003. The report reflects on New Zealand's strength compared to other leading world economies. The expected slow down in NZ's economy has not occurred as…
Norges Bank Inflation Report, March 2003
REPORT - Norway's central bank published its latest Inflation Report on 5 March. The Bank says the outlook for growth has deteriorated since the October report and there are no signs of an imminent recovery. On the domestic front, the Norwegian economy…
Trichet on European Monetary Union and the euro
SPEECH - In the speech 'The European Monetary Union and the euro' Jean-Claude Trichet of the Bank of France stressed the importance of transparency for the conduct of the euro-zones single monetary policy. "Elected authorities, key economic players, as…
Outgoing BoJ chief doubts market interventions use
Speaking on Friday Bank of Japan governor Masaru Hayami said he thought central banks attempts to intervene in the foreign exchange market were not vary effective.
RBZ lacks autonomy, says economic analyst
An economic analyst for the Zimbabwe Economic Society has said that Zimbabwe's central bank lacks independence, with the governor appointed by the president and the government able to borrow money "willy-nilly" from the central bank.
UK Treasury criticised over Bank appointments
UK chancellor Gordon Brown faced criticism on Thursday over the lack of transparency in the appointments process to the Bank of England's Monetary Policy Committee.
Inflation targeting, growth move in sync - Mboweni
A low inflation environment supports economic growth and no one can oppose that, said Tito Mboweni. The South African Reserve Bank governor was speaking in his first lecture at a university he is an honorary professor of.
Fed's Gramlich: Iraq impact 'imponderable'
Ed Gramlich of the Federal Reserve said on Thursday that a conflict with Iraq would have consequences for the US and world economy but that the effects were impossible to predict.
Bank of Mexico in paintings mix up with government
CentralBankNet hears of an unfortunate mix up involving valuable paintings, the Bank of Mexico and an apparent infringement of copyright on the central banks fine art collection.
Brazil's Palocci sees IMF loan despite inflation
Finance minister Antonio Palocci said he expects the next tranche of Brazil's record IMF loan to be approved despite an increase in inflation in the country.
Vintage ECB
FEATURE - Reports that certain ECB policy makers weren't exactly seeing eye to eye inspired a question to Lucas Papademos on the subject at Thursday's press conference. The answer did not reveal much, apart from the ECB's choice of wine at the top table,…
Kohn testimony on Business Checking Freedom Act
SPEECH - The Fed backs paying interest on checking accounts, Fed Governor Donald Kohn said in testimony before Congress on 6 March. "Unnecessary restrictions on the payment of interest on demand deposits at depository institutions and on balances held at…
Parry on prospects for local and national economy
SPEECH - In the speech 'Prospects for the National and Local Economies: A Monetary Policymaker's View' Robert Parry of the Federal Reserve Bank of San Francisco said "If it were called for we still have room to give a boost to the economy, even in the…
Guynn on the road to recovery
SPEECH - In the speech 'The Road to Recovery and an Atlanta Perspective' Jack Guynn of the Federal Reserve Bank of Atlanta said that this recovery was different from previous ones. The big difference in this recovery, Guynn said, is that there has been…
Federal Reserve Board - Beige Book, March 2003
REPORT - The Federal Reserve Beige Book released 5 March said the U.S. economy "remained subdued" in the past two months as the prospect of war with Iraq constrained consumer and business spending, the Federal Reserve said in its latest survey of…
ECB refinancing, 6 Mar
PRESS RELEASE - Monetary policy decisions. The minimum bid rate on the main refinancing operations will be reduced by 0.25 percentage point to 2.50%, starting from the operation to be settled on 12 March 2003.
ECB on foreign exchange market, 5 Mar
PRESS RELEASE - Publication of a review of the foreign exchange market structure, 5 March. Analysis of the structure of the foreign exchange market.
Trichet favours Bank of France re-organisation
A report says Jean-Claude Trichet favours a re-organisation of the Bank of France by departments, as opposed to regions.
Canada's gold reserves fell last month
Canada's finance department revealed on Wednesday that it had sold part of its gold holding, with the proceeds to be used for buying other foreign currency securities.
Kenya's ex-central bank chief hits back at critics
On Wednesday CentralBankNet reported the resignation, and prompt replacement, of Kenyan central bank chief Nahashon Nyagah over the Euro Bank affair. Now a report quotes Nyagah as denouncing what he called, the "orchestrated" campaign to oust him.