Central Banking
ECB Press Conference
PRESS CONFERENCE - Transcript of the questions asked and the answers given by Dr. Willem F. Duisenberg, President of the ECB, Dr. Lucas Papademos, Vice-President of the ECB and Yves Mersch, Governor of the Banque centrale du Luxembourg, 4 July.
ECB Press Release
PRESS RELEASE - International Research Forum on Monetary Policy, 5 July.
Press Release from Sweden's central bank
PRESS RELEASE - New head for the Secretariat of the Executive Board at the Riksbank, 4 July.
Press Release from Sweden's central bank
PRESS RELEASE - Repo rate left unchanged at 4.25 per cent, 5 July.
Iran plans its first bond issue since 1979
IRAN - Iran hopes to next week issue its first international bond since the 1979 Islamic revolution, according to Mohsen Noorbakhsh, the governor of Iran's central bank.
Spain's central bank to close retail offices
SPAIN - Banco de Espana, Spain's central bank, intends to close down several of its 52 regional offices across Spain in order to reduce costs. At present, the authority operates one branch in every provincial capital of the country. Management intends to…
Bulgarian parliament adopts BNB report for 2001
BULGARIA - The 2001 annual report of the National Bank of Bulgaria, the central bank, was approved in parliament on 4 July. The vote was 127-5, with 13 abstentions.
Swedish Riksbank leaves repo rate at 4.25 pct
SWEDEN - The Riksbank said it has decided to leave the repo rate unchanged at 4.25 pct.
BI to make amendments to the constitution
ARTICLE - To meet the demands of reform, the People's Consultative Assembly (MPR) have amended the 1945 Constitution. Subsequent to the first, second and third phase of amendments, a number of articles are going through amendments in the current fourth…
Real rises after central bank resumes intervention
BRAZIL - The real rose after the Brazilian central bank said it is resuming its former policy of daily interventions in the foreign exchange market, dealers said.
Israel's c bank chief criticizes inadequate budget
ISRAEL - Governor of the Bank of Israel David Klein says financial stability is not yet assured. Speaking before the Israel Democracy Institute's annual Caesarea conference, being held this year in Jerusalem, he said the task of restoring economic…
Speech by Fed Reserve Governor Ed Gramlich, 5 July
SPEECH - In a speech to the International Research Forum on Monetary Policy Gramlich said that central banks could use more research to help address certain policy questions, including those related to specific currency regimes and the short-run impact…
Letter from Joseph E Stiglitz to the FT
LETTER - In a letter to the Financial Times published on Friday Professor Joseph E. Stiglitz continues the slanging match with the IMF's Ken Rogoff.
The costs of sterling
ARTICLE - History shows that Britain's separate currency has damaged the structure, balance and size of its economy writes David Cobham in Friday's Financial Times.
Euro 'would boost UK by ending volatility'
UK - Entry into the euro would boost investment in Britain by ending exchange rate volatility in Britain's dominant export market, according to a paper published by the National Institute of Economic and Social Research on Thursday.
Kohler urges caution amid market volatility
ARTICLE - Horst Kohler gave an interview to the London Financial Times on Thursday in which he said that the biggest risk in today's uncertain financial markets is to "give the wrong signals and exaggerate problems so that they become a self- fulfilling…
Change at Japanese regulator welcomed by reformers
JAPAN - The Japanese government on Thursday named Shokichi Takagi as head of the Financial Services Agency - a surprise move that raised hopes of a more radical approach by the supervisory body to the bad debt problem plaguing Japanese banks.
Bank of England News Release
NEWS RELEASE - Bank of England Maintains Interest Rates at 4.0%, 4 July.
Reserve Bank of Australia Discussion Paper
RESEARCH - Reserve Bank of Australia Discussion Paper: Options for EFTPOS Interchange Fee Reform, EFTPOS Industry Working Group, July 2002.
Speech by Yutaka Yamaguchi, Bank of Japan, 3 July
SPEECH - In a speech titled 'Central Banking in Uncharted Territory' Yamaguchi said that "the US dollar reached its peak in January and has been depreciating significantly since then. Such a forex rate movement reflects these changes in global capital…
Norges Bank Press Release
PRESS RELEASE - Norges Banks Annual Report on Payment Systems for 2001, 2 July.
ECB Press Release
PRESS RELEASE - Monetary Policy Decisions, 4 July.
ECB Press Conference
PRESS CONFERENCE - Introductory statement, Willem F. Duisenberg, President of the European Central Bank, Lucas Papademos, Vice-President of the European Central Bank, Luxembourg, 4 July.
IMF Working Paper
RESEARCH - On the Origins of the Fleming-Mundell Model, Working Paper by James M. Boughton, Policy Development and Review Department, June 2002.