Central Banking
Santomero on The Economic Outlook
SPEECH - In the speech 'The Economic Outlook - Technology on the Horizon' Anthony Santomero of the Federal Reserve Bank of Philadelphia said he expects 2003 to be a transition year for the national economy on the path to sustained expansion. Stimulative…
Bank of Israel accused of generating instability
Israel's Ministry of Finance on Thursday launched a fierce attack on the Bank of Israel, saying the central bank had failed to meet inflation targets and at times had a destabilising effect on the market.
Mboweni delivers the bad news about rates
A warning by the South African Reserve Bank against hopes of an early interest rate cut was a timely signal to quell over-optimism in the market, economists said on Friday.
No way to run the world's biggest economy
ARTICLE - The article says that the US economy needs a sizeable short-term stimulus to prevent deflation. While the Federal Reserve has led the way, the chronic shortage of saving in the US has reduced policy options, including the possibility of tax…
World Bank backs Japan inflation targeting
James Wolfensohn, president of the World Bank, said on Thursday that it was sensible for Japan to use monetary policy to reverse deflation, amid debate among Japanese policymakers about the introduction of an inflation target. Outgoing BoJ governor…
Broaddus sees recovery continuing in 2003
Richmond Federal Reserve President Alfred Broaddus on Thursday said he saw the U.S. recovery rolling ahead this year, while cautioning that risks still lurked, such as a long war with Iraq and the seven-week-old Venezuelan workers' strike.
G7 postpones 2-day meeting in Paris
The Group of Seven (G-7) finance ministers and central bank chiefs have postponed a two-day meeting in Paris scheduled to open 31 January, France's finance ministry said Thursday.
Nigeria: IMF won't derail African single currency
Nigeria on Thursday reacted sharply to criticism by the International Monetary Fund (IMF) of the proposed single currency for the West African sub-region, warning that no amount of blackmail would stop the project. CentralBankNet reported the IMF…
Argentina clinches IMF debt rollover deal
Argentina clinched a watershed debt rollover deal with the International Monetary Fund (IMF) on Thursday after a year of tortuous negotiations, gaining breathing space to find a way out of its worst ever financial crisis.
New York Federal Reserve president is retiring
New York Federal Reserve President William McDonough will retire on 21 July, the New York Fed said Thursday, after a decade as one of the most senior policy-makers at the U.S. central bank.
Ireland may seek seat at ECB top table
Ireland is likely to pitch for a seat on the executive board of the European Central Bank (ECB) when a vacancy arises at the end of May.
Yugoslavia's Dinkic satisfied on central bank deal
Yugoslav National Bank (NBJ) Governor Mladjan Dinkic said Thursday that he was satisfied with the solution passed by the constitutional commission last night that the NBJ should become the National Bank of Serbia (NBS) on the day the constitutional…
UK Treasury Committee - Review inflation targeting
The UK's House of Commons Treasury Select Committee on Thursday criticised Chancellor Gordon Brown's economic policy and suggested a review of the Bank of England's inflation target.
Bergo on Norwegian payment system efficiency
SPEECH - In the speech 'Efficiency in the Norwegian payment system' Jarle Bergo of Norges Bank said Norway has received praise for the efficiency of its payment system. However, Norway has decided to modernise the current settlement system because the…
Bergstrom on monetary policy and wage formation
SPEECH - In the speech 'Monetary policy and wage formation' Villy Bergstrom of Sweden's central bank said the recent termination of one union's collective wage agreement will not necessarily constitute a threat to the inflation target. However, if other…
Knight on monetary policy and economic performance
SPEECH - In the speech 'How Monetary Policy Contributes to Improved Economic Performance' Malcolm Knight of the Bank of Canada said from a central bankers perspective Canada's clear, transparent monetary policy, based on the inflation-control target has…
Reserve Bank of New Zealand Press Release
PRESS RELEASE - Reserve Bank coinage warning - The Reserve Bank today advised the public that some older 20 cent coins are temporarily causing confusion among some shoppers, 16 January.
Federal Reserve Press Release
PRESS RELEASE - The Federal Reserve Board today received results from further testing conducted by the State of North Carolina, under the guidance of the Centers for Disease Control. It showed no anthrax bacteria present on a sample from a piece of mail…
Reserve Bank of Australia Bulletin, January 2003
REPORT - Bulletin Statistical Tables, data updated to 8 January 2003.
RBNZ Vacancy : Head of Financial Stability
PRESS RELEASE - The Reserve Bank has established a new Financial Stability Department that integrates the work of our financial markets and banking system oversight teams. As a result the Bank is seeking to appoint a Head of Financial Stability,…
Federal Reserve Board - Beige Book, January 2003
REPORT - The Federal Reserve Beige Book released 15 January described economic activity across the US as remaining "sluggish" but also cited various, though modest, signs of a pick-up in activity, high-lighting scattered reports of a fragile turnaround…
Hot Topics from the Dallas Fed, January 2003
REPORT - The latest Hot Topic from the Federal Reserve Bank of Dallas, 'Can the World Economy Give Ours a Boost?' looks at whether we're going to see a surge in foreign economies that might pave the way for more growth in the United States. It discusses…
Taiwan acts on banking reform
Taiwan's finance ministry is encouraging banks to clean up their balance sheets by offering streamlined product approval for those with non-performing loan (NPL) ratios of below 5 per cent.
Bangladesh orders bad debt write-offs
The Central Bank of Bangladesh has introduced a major economic initiative ahead of a general strike on Friday over rises in fuel prices.