Central Banking
Alan Greenspan opens Philadelphia Fed mini-museum
Alan Greenspan opened the Philadelphia Fed's new "Money in Motion" mini-museum on Wednesday 2 July, Dow Jones reports. The displays aim to make the complex history of American monetary policy visitor-friendly for tourists and local visitors.
IMF statement on new chief economist Rajan
IMF Managing Director Kohler Proposed Raghuram Rajan as Economic Counsellor and Director of the IMF's Research Department, 2 July.
BOJ is watching bond yields 'closely' Suda says
Bank of Japan board member Miyako Suda said in a speech that the BoJ is closely watching the bond market but it will take time to assess the effect of asset prices on the economy, according to a report by Bloomberg.
French PM calls on ECB to lower rates further
French Prime Minister Jean-Pierre Raffarin has urged the ECB to cut interest rates further, according to Associated Pres, saying recent interest-rate cuts by the ECB are an encouraging sign and he hoped they can be continued.
Bank of Ghana to replace 500 staff with equipment
The Bank of Ghana's plan to shed 1,000 staff which we reported last week includes the installation of a one million dollar Sorting Machine that would replace over 500 counter staff as part of the central banks' transformation exercise, according to Ghana…
Bangko Sentral ng Pilipinas 10th anniversary
The Bangko Sentral ng Pilipinas (BSP) celebrated its 10th anniversary on Wednesday. The Manila Bulletin says the BSP can rightfully claim that it has been doing well in keeping the banking system stable.
Right-wing withdraw from Bulgaria governor talks
Bulgaria's right-wing opposition has withdrawn from debate over the new governor of the central bank of Bulgaria,according to Novinite. They say it is not appropriate to mix talks over the election of a new governor with consultations over Bulgaria's…
Poll shows Swedish opposition to euro growing
Two recent opinion polls have suggested opposition to the euro is increasing in Sweden, the Financial Times reports.
Russian c bank claims Belarus changed ruble date
Russia's central bank chief Sergei Ignatyev told Interfax that Belarus initiated the decision to change the date on which Russian ruble transactions will be introduced in Belarus.
EC capital requirements - Third consultation paper
Capital requirements for banks and investment firms third consultation paper and impact study results published, 1 July.
Norges Bank Inflation Report, June 2003
Norway's central bank, Norges Bank, has published its latest Inflation Report for June 2003. The report contains a review of developments in the Norwegian economy and other factors that influence the inflation outlook.
New Bank of England governor speaks of his pride
On the eve of taking over as Governor of the Bank of England, Mervyn King spoke to The Times about his personal approach to the role, filling the shoes of Sir Edward George and crucial issues facing the financial sector, including the prospect of…
Fedspeak with the Fed rate cut
An article in the Washington Times suggests that to understand what the Federal Reserve does, it's best to start with reasonably low expectations about what any central bank can do. It also suggests that the Fed's "balance of risk" assessment of the…
New risk control framework for eligible assets
In the context of the regular assessment of the risk control framework applicable to eligible assets used in Eurosystem credit operations, the Governing Council of the ECB has approved changes to the risk control framework, 2 July.
ECB meeting and press conference schedule for 2004
The Governing Council of the ECB has agreed that in the year 2004 its meetings will continue to be held, as a rule, on a Thursday in the first and third week of each month. As in 2003, the meeting schedule of the Governing Council also accommodates…
IMF, Ecuador talks to focus on reforms- Cenbanker
Sixto Cuesta, the deputy president of Ecuador's central bank, told Reuters that the IMF has concerns over the pace of reforms of the tax system and labour laws in Ecuador prompting the IMF to delay a $42 million payment.
ECB's Issing upbeat on eurozone recovery
The ECB has "cautious optimism" that the eurozone economy would improve soon with the recovery in equity markets, BizWorld reports chief economist Otmar Issing as saying.
Iraqi banks want to rejoin banking system
Faleh Salman, acting Iraqi central bank governor, said at the weekend that the Security Council's decision in May to lift sanctions meant "here is no impediment now" for the resumption of relationships across the world for Iraq's banks, according to a…
UK failing to track dirty money
A new report, commissioned from KPMG by the UK government, reveals problems "inherent in all aspects" of efforts to track money laundering in the UK.
Brazil c bank to upgrade credit system in 90 days
The central bank of Brazil's upgraded credit information system will gather information about all loans above 5,000 reais (US$1,760), compared to a minimum of 20,000 reais in the current system, according to Business News America. It will also bring a…
Polish gov't wants c bank reserves to finance debt
Poland's new minister of finance Andrzej Raczko plans to use central bank foreign currency reserves to finance Polish foreign debt, the Polish News Bulletin reports. Members of the Monetary Policy Council oppose any decrease of reserves made against…
Germany's Schroder calls on ECB to reduce rates
German chancellor Gerhard Schroder has questioned the ECB as to "whether they have done enough to stimulate growth", according to a report in the Financial Times. He told Pedro Solbes, EU monetary affairs commissioner, on Tuesday that Germany would…
Reform of credit card schemes in Australia
Statement by the Reserve Bank of Australia on credit card reforms, 1 July.
BoJ Monetary Policy minutes, 19 and 20 May
Minutes of the Bank of Japan's Monetary Policy Meeting on 19 and 20 May 2003, released 30 June. With respect to domestic demand, corporate profits were recovering, and if exports and production resumed their upward trend, business fixed investment was…