Central Banking
Interest rates will fall says New Zealand's Cullen
NEW ZEALAND - Interest rates should start to come down following the change to the Reserve Bank's inflation target, New Zealand Finance Minister Michael Cullen told the Financial Times in London Thursday.
IMF delegation arrives in Tajikistan
TAJIKISTAN - A delegation from the International Monetary Fund led by [the head of the IMF mission in Tajikistan] Mr Robert Christiansen has arrived in Dushanbe today, Thursday.
Ukraine sets up for ex and stock market watchdog
UKRAINE - The Ukrainian government has decided to create a special commission to monitor and control the activities of Ukraine's exchanges, the government's press service reported on Wednesday. The press service was referring to a government ruling.
Advocate of hard-landing may join Japan debt team
JAPAN - Japan's best-known advocate of a "hard-landing" solution to the banking crisis is likely to be named this week a member of the taskforce charged with drawing up proposals to tackle the financial system's mountain of bad debts.
Speech by Koh Yong Guan, MD MAS, 2 Aug
SPEECH - In the speech Koh Yong Guan said the Board of Commissioners of Currency, Singapore (BCCS) will be merging with MAS. We are targeting to complete the merger exercise by October 2002. The merger of the two institutions is being undertaken with the…
Speech by Gary Stern, Minneapolis Fed Bank, 25 Apr
SPEECH - In the speech titled 'The (Uncertain) Resilience of the U.S. Economy' Stern said that two of the Minneapolis Fed's economists reviewed a variety of inflation forecasting models and found that Phillips curve type NAIRU models did no better at…
Speech by W. McDonough, New York Fed Bank, 18 Sep
SPEECH - In the speech titled 'Completing the Journey to the New Basel Accord' McDonough said that motivating all banks to improve their management of risk, and thereby strengthen the stability of the banking system, is one of the principal objectives…
Impact Survey of New Basel Capital Accord
REPORT - The Basel Committee on Banking Supervision on 1 October launched a comprehensive field test for banks of its proposals for revising the 1988 Capital Accord. The field test referred to as the third quantitative impact study, or QIS 3, represents…
fedgazette from the Minneapolis Fed September 2002
PUBLICATION - Regional Business and Economics Newspaper from the Federal Reserve Bank of Minneapolis, September 2002. Focus: Rural Census.
Speech by Robert E. Rubin, MAS, 25 Jul
SPEECH - In the MAS Lecture Rubin said that the Japanese economy could experience an upturn if global conditions are reasonable but that the "enormously complicated" structural and fiscal problems Japan faces have in large measure not been effectively…
Philadelphia Fed Business Outlook Survey
REPORT - Results from September's Business Outlook Survey show that activity in the region's manufacturing sector has improved modestly, according to firms surveyed for this month's Business Outlook Survey. Most of the survey's broad indicators of…
Chicago Fed Letter, October 2002
PUBLICATION - The October 2002 issue of the Chicago Fed Letter is titled 'Solving the problem of small change' - In the last hundred years, monetary systems have evolved from commodity-based, meaning their value is tied to a commodity like gold, to fiat…
CBR's Kozlov - Delete Russia from FATF black list
RUSSIA - Russia has all the chances to be deleted from the "black list" of the Financial Action Task Force (FATF). Such an opinion was expressed by first deputy chairman of the Central Bank of Russia Andrei Kozlov who made an appearance at the National…
Japan and US: Bubble, Bubble, Toil and Trouble
ARTICLE - With the American economy still sputtering and the Federal Reserve divided over whether to cut interest rates again, foreboding comparisons between the United States and Japan are gaining a renewed currency.
Aus and NZ central banks leave rates unchanged
OCEANIA - The Australian and New Zealand reserve banks left their benchmark interest rates unchanged Wednesday amid uncertainty over global economic growth.
Singapore c bank unveils rules on terror funding
SINGAPORE - The Monetary Authority of Singapore (MAS) has unveiled sweeping measures for local banks to choke off access by terror groups to funding and weapons.
Fed ready to cut rates if necessary - McDonough
US - A top United States Federal Reserve official has offered an assurance that the central bank stands ready to lower interest rates if the economy faltered, but said it was unlikely such help would be needed.
Poland's central bank to maintain floating rate
POLAND - Poland's Central Bank (NBP) will maintain the free-floating exchange rate, the institution's head Leszek Balcerowicz announced on Tuesday.
Solomon Islands to tighten revenue collection
SOLOMON ISLANDS - The Central Bank of Solomon Islands (CBSI) has taken measures to strengthen monitoring and administration of exports and imports towards enhancing exchange control requirements and government revenue collection.
Albanian central bank deputy arrested
ALBANIA - The Attorney-general explained yesterday, Tuesday, the reasons for the arrest of the deputy governor of the Bank of Albania, Dhame Pite, by Tirana police late yesterday evening.
Regulatory board for accountants hits snag
US - The process of setting up the new regulatory board for accountants is being delayed because of a dispute over one possible member, Donald Kirk, a former regulator criticised for being too close to the audit profession.
Greenspan goes on trial for bubble complacency
ARTICLE - Alan Greenspan's reputation now lies in the balance. Which way the balance tips matters not only for him but also for the consensus on how central banks should respond to asset prices.
Reserve Bank of Australia Press Release
PRESS RELEASE - At its meeting on 1 October the RBA Board decided to leave the cash rate target unchanged at 4.75 per cent.
Reserve Bank of New Zealand Press Release
PRESS RELEASE - OCR stable at 5.75 per cent, 2 October.