Central Banking
Law passed on Russian cb to weaken banking system
RUSSIA - The Russian State Duma has approved a revised version of the bill on the Central Bank of Russia (CBR). This decision will weaken the entire banking system according to finance minister Alexei Kudrin, since it does not allow the CBR to implement…
Single currency for Russia and Belarus agreed
RUSSIA - Senior central bankers and politicians of Russia and Belarus have signed an agreement on cooperating towards the introduction of a single currency by 2005.
Duisenberg flag furore
NETHERLANDS - The public furore about Gretta Duisenberg's apparent support for the Palestinian cause continues to escalate. After Mrs Duisenberg, the wife of Wim Duisenberg, the president of the ECB, displayed the Palestinian flag in her home in the…
John Hawke puts question mark over Basel Accord
USA - The Basel committee's attempts to finalise a new capital accord have been thrown into doubt in a speech by John Hawke, US Comptroller of the Currency, one of the US representatives on the committee. Speaking to a conference of commercial-sector…
Speech by former Fed chairman Paul Volcker, April
SPEECH - Paul Volcker, former chairman of the Federal Reserve, gave a speech titled 'Monetary Policy Transmission: Past and Future Challenges' to a conference on 'Financial Innovation and Monetary Transmission' sponsored by the Federal Reserve Bank of…
IMF Research Bulletin, June 2002
RESEARCH - The report includes summaries of IMF research on the empirical analysis of exchange rates and on pension reform, a country study on Brazil, as well as coverage of conferences on National Poverty Reduction Strategies and Macroeconomic Policies…
New York Fed research on inventory volatility
RESEARCH - The latest edition of the Federal Reserve Bank of New York's Current Issues in Economics and Finance, Volume 8 Number 5, titled "Has Inventory Volatility Returned? A Look at the Current Cycle".
Riksbank leaves repo rate unchanged at 4.25%
PRESS RELEASE - At its meeting on Wednesday, 5 June, the Executive Board of the Riksbank decided to leave the repo rate unchanged at 4.25 per cent. This decision, which will apply with effect from Wednesday, 12 June, is based on the picture of future…
Riksbank Inflation Report, June 2002
REPORT - Sweden's Riksbank has released its Inflation Report for June 2002. It provides a basis for monetary policy decisions and to make the Riksbank's deliberations known to a wider public.
Bank of England maintains interest rates at 4.0%
PRESS RELEASE - The Bank of England's Monetary Policy Committee today voted to maintain the Bank's repo rate at 4.0%. The minutes of the meeting will be published at 9.30am on Wednesday 19 June.
Wim Duisenberg on ECB's interest rate decision
STATEMENT - Wim Duisenberg, president of the ECB, made an introductory statement to a press conference in Frankfurt on 6 June concerning the ECB Governing Council's decision to leave interest rates unchanged.
ECB monetary policy decision, 6 June
PRESS RELEASE - The ECB made its decision on monetary policy on 6 June, leaving rates unchanged.
Speech by Fed Governor Mark Olson, 31 May
SPEECH - In a speech titled 'The Dual Banking System and the Current Condition of the Banking Industry', Federal Reserve Board Governor Mark W. Olson talks to the Conference of State Bank Supervisors in Salt Lake City about the historic and continuing…
Bank of Canada raises rates by 1/4%
CANADA - The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 2 1/2 per cent. The operating band for the overnight rate is correspondingly increased, and the Bank Rate is now 2…
Statement by Ian Macfarlane of the RBA, 5 June
PRESS RELEASE - Statement by Ian Macfarlane, Governor of the Reserve Bank of Australia, on monetary policy: "Following a decision taken by the Board at its meeting yesterday, the Bank will be acting in the money market this morning to increase the cash…
Speech by Guy Quaden, N. Bank of Belgium, 27 May
SPEECH - Guy Quaden, governor of the National Bank of Belgium gives an opening address titled 'New Views on Firms' Investment and Finance Decisions', for the National Bank of Belgium Conference in Brussels on May 27 & 28.
Speech by Zeti Akhtar Aziz, B.N. Malaysia, 29 May
SPEECH - Dr Zeti Akhtar Aziz, Governor of Bank Negara Malaysia, gives a keynote address titled 'The Malaysian banking industry - gearing up for excellence' on AAOIFI's Accounting Standards at the 2nd Seminar For Central Banks and Monetary Agencies.
Reserve Bank of Australia chart pack, June
RESEARCH - The Reserve Bank of Australia has released the June 2002 issue of the Chart Pack today.
Reforming China's banking system
RESEARCH - Federal Reserve Bank of San Francisco 'Economic Letter' concerning the reform of China's banking system, by Ramon Moreno, Research Advisor, 31 May.
Japanese financial institutions' management tasks
RESEARCH - The Bank of Japan's Bank Examination and Surveillance Department has issued a report on 'Japanese Financial Institutions' Efforts to Address Their Management Tasks'. It outlines the current state of financial institutions' business and how…
Economic prospects looking up says Greenspan
USA - America's economic prospects are looking up according to Fed chairman Alan Greenspan on Tuesday, although he warned that further economic growth in the short term will slow from the January-March pace.
RB of Australia raises benchmark rate to 4.75%
AUSTRALIA - The Reserve Bank of Australia raised its benchmark interest rate for the second time in a month by a quarter percentage point to 4.75%. It is hoped this will put a damper on a housing boom and consumer spending that may fuel inflation.
Congress pushes for inflation targeting at the Fed
USA - A key member of Congress is attempting to pressure the Federal Reserve into adopting an inflation targeting regime. Although there is some support for this at the Fed, Chairman Alan Greenspan is vehemently opposed to the idea.
Slovenia's former cb governor to run for president
SLOVENIA - Slovenia's former central bank governor, France Arhar, yesterday declared his intention to stand as an independent candidate in presidential elections later this year after current president Milan Kucan's second term expires.