Central Banking
Economist slams Hungarian central bank policies
ARTICLE - The article 'In the grips of the central bank; To where does the MNB's monetary policy lead?' suggests that the National Bank of Hungary has failed to learn from mistakes made over the previous several years.
Issing: ECB not satisfied with inflation rate
European Central Bank Chief Economist Otmar Issing Monday attempted to debunk talk of deflationary risks in the euro zone, indicating that stagflation is actually a bigger risk for the region. The ECB's Governing Council meets this week and is widely…
Euro group meets to study future of stability pact
Euro group finance ministers met on Monday for the first time since Brussels proposed new ideas to strengthen the 12-nation zone's much-maligned stability pact. The pact, while staunchly defended by the ECB as 'indispensable' has received much criticism…
Moskow on Perspectives on the Economy and Banking
SPEECH - In the speech 'Perspectives on the Economy and Banking' Michael Moskow of the Federal Reserve Bank of Chicago said that while the economy's road to recovery has been bumpier than expected the accommodative monetary policy stance the Fed has put…
Norges Bank Financial Stability Report No.2, 2002
REPORT - The Central Bank of Norway, Norges Bank, published its twice yearly Financial Stability Report 2/2002 on 28 November. Central Bank Governor Svein Gjedrem, said when Norges Bank presented the report that the outlook for financial stability in…
Egypt central bank plays active money market role
A new general monetary policy will be applied to push forward the national economy, the Governor of the Central Bank of Egypt (CBE) Mahmoud Abul Eiyoun said Wednesday.
Inflation worries Greek central bank
The Bank of Greece has warned of the danger of inflationary pressures building up and has called on the government to take measures. Central bank Governor Nikos Garganas met with Prime Minister Costas Simitis earlier this week and discussed this issue.
The Bank is losing a house price game
ARTICLE - This article suggests that the Bank of England's interest rate strategy has gone wrong causing a house price bubble and that central bankers avoid discussion on asset price bubbles incase their collapse makes them look stupid.
Play more golf says Tito Mboweni
While CentralBanknet has long been aware of South African Reserve Bank Governor Tito Mboweni's passion for fly fishing, his love of golf came as a surprise to us.
Bernanke speech comments cause surprise
Ben Bernanke, newly-appointed Fed governor and an advocate of inflation targetting, has revealed the Fed's secret weapon in combating the perils of deflation: the printing press.
Japan begins stock purchase policy
The Bank of Japan's programme to buy shares from the country's ailing banking sector officially started Friday, but the bank is being coy about any actual purchases.
Russia central bank forecasts falls in inflation
The Central Bank of Russia [CBR] will conduct its monetary and credit policies proceeding from the assumption that inflation will steadily decline as of next year, from 10-12 per cent expected in 2003 to 8 per cent in 2005.
Welteke suggests ECB rates may be cut soon
A member of the European Central Bank's governing council suggested in comments published Friday that the bank could cut interest rates by as much as half a percentage point next week, more than a year after it last made a change.
Sweden names date for euro referendum
Sweden will hold a referendum on whether to adopt the single European currency, the euro, on 14 September 2003, Swedish Prime Minister Goran Persson said Friday following a meeting of political party leaders.
Bean on the MPC the UK economy, deflation and debt
SPEECH - In the speech 'The MPC and the UK Economy: Should we fear the D-words?' Charles Bean of the Bank of England said that the recent alarmist talk of the threat of global deflation has been overdone. There are good reasons for believing that the US…
Santomero on the economic outlook for the US
SPEECH - In the speech 'Economic Outlook for the U.S. & Delaware' Anthony Santomero of the Federal Reserve Bank of Philadelphia said he believes the U.S. economy's future prospects are good and that the current moderately paced economic recovery will put…
Federal Reserve Board - Beige Book, November 2002
REPORT - The Federal Reserve Beige Book released 27 November said that the US economy's growth in late October and November, was slow, with business conditions across all districts soft and sluggish excluding housing. Capital spending was limited,…
Rebuilding Transmission System for Monetary Policy
RESEARCH - The trouble with Alan Greenspan's handling of the economy, the Financial Markets Center suggests, goes much deeper than an ill-timed interest-rate adjustment or inaccurate staff forecast. It's embedded in the Fed's increasingly antiquated…
ECB may be ready to cut rates - Lucas Papademos
European Central Bank Vice-President Lucas Papademos on Wednesday gave the latest sign the bank was ready to reduce interest rates, saying the improved inflation outlook gave more room for a rate cut. The ECB Governing Council is due to meet on 5…
Rand near year highs ahead of rate news
South Africa's rand hovered near 13-month highs against the dollar as investors waited for the outcome of the central bank's quarterly monetary policy meeting.
Russian premier wants relaxed currency regulation
At Thursdays meeting of the cabinet, Russian Prime Minister Mikhail Kasyanov stressed the need to liberalise currency regulation in the country. As we reported Wednesday, the proposal has divided politicians and the central bank with the latter calling…
Ukrainian central bank chief under pressure to go
Rumblings at Ukraine's national bank continue as the chairman, speaking on Thursday, said he had not been asked to resign and parliament had refused presidential requests to dismiss him.
US economy grew slowly in October, November
The U.S. economy remained sluggish in late October and early November, with districts cautiously optimistic about the outlook, the Federal Reserve revealed Wednesday in its regular Beige Book.
Egypt central bank sets new monetary policy plan
Egypt's central bank governor has announced details of instruments that would be introduced under a new monetary policy which would encourage greater transparency in the market. Earlier in October we reported that Egyptian President Hosni Mubarak was set…