Central Banking
Speech by Ian Macfarlane, governor of RBA, 25 June
SPEECH - In a speech titled 'Relative Advance or Relative Decline?' Macfarlane looks at the prospects for the Australian economy over the next 20 years. He concludes that although we cannot predict the future, we can try and make sure that the economy is…
IMF Survey, Vol. 31, No. 12
SURVEY - The latest edition of the IMF Survey includes comment on the IMF's Global Financial Stability Report, excerpts of a speech by Anne Krueger on sovereign debt restructuring and an interview with Kenneth Rogoff and Jeromin Zettelmeyer on the roots…
Speech by Dr Wellink, Nederlandsche Bank, 14 June
SPEECH - Wellink speculates in a speech titled 'The Role of National Central Banks within the European System of Central Banks: The Example of De Nederlandsche Bank' that the national central bank might contribute to loosening the roots of its very…
Federal Reserve to redesign notes
PRESS RELEASE - The US Treasury and Federal Reserve has announced plans for redesigned notes with improved security features to deter counterfeiting. It will affect the $100, $50, and $20 notes.
Banking supervision at the cross roads
RESEARCH - A paper presented at de Nederlandsche Bank conference titled 'Banking Supervision at the Cross Roads' by David Llewellyn from Loughborough University, UK, looks at the optimal regulatory environment and suggests a paradigm for ensuring…
China & S Korea sign $2bn currency swap deal
CHINA - The central banks of China and the Republic of Korea Monday signed a $2 billion currency swap deal which both sides hailed as a move to enhance bilateral co-operation and regional financial stability.
Former cb governor keeps pmt seat in elections
PAPUA NEW GUINEA - Papua New Guinea's former central bank governor, Sir Mekere Morauta, who since became prime minister, has succeeded in keeping his seat in parliament following an election tainted by violence, although the future of his government…
Aldo Pignanelli named new Argentine cb president
ARGENTINA - Argentina's President Eduardo Duhalde has appointed central bank vice-president Aldo Pignanelli as chairman of the bank after Mario Blejer resigned on Friday, the government said in a statement. Pignanelli has been vice-president since March…
Uruguay cb to create bank protection committee
URUGUAY - Uruguay's central bank will create a special committee to oversee the provision of liquidity for the country's banks, according to central bank chairman Cesar Rodriguez. "We don't want a single bank to fold [and] we want to protect depositors'…
Eurosystem currency reserves up by 1.3bn eur
GERMANY - The ECB said eurosystem net foreign currency reserves rose 1.3bn eur to 257.6bn in the week ending June 21. The rise was due to an increase of 3.7bn eur in receivables from the IMF, whereas other holdings in foreign currency decreased by 2.5bn…
BOJ intervenes to shore up dollar
JAPAN - The Bank of Japan stepped into the foreign exchange market Monday to shore up the dollar, which at one point rose by more than 1 yen to 122.80. The dollar later returned to the 121 yen level, as the invervention was seen as relatively modest. The…
Speech by David Dodge of Bank of Canada, 11 Jun
SPEECH - In a speech titled 'Trust, Transparency, and Financial Markets' Dodge told an audience in Nova Scotia that the Canadian economy's strong performance thus far in 2002 has exceeded the Bank's own forecasts.
Federal Reserve Board Press Release
PRESS RELEASE - Joint Press Release by the Board of Governors of the Federal Reserve System and the Bureau of Engraving and Printing, 20 June.
Speech by Robert Parry, San Francisco Fed, 17 Jun
SPEECH - Parry said in a speech titled 'After the Recession: A Monetary Policymaker Looks Ahead' that "we're now in the midst of a modest expansion," after a shallow recession which probably ended in December or January.
When will MPC act?
LETTER - Letter published in the London Financial Times on 21 June from Stephen Walkley.
A group too big for intense monetary policy debate
LETTER - Letter published in the London Financial Times on 21 June from Michael Davenport.
Political pointers
LETTER - Letter published in the London Financial Times on 24 June from Maurice Fitzpatrick.
Is it too early to call an end to deflation?
ARTICLE - Prices have stopped falling and the balance of Bank of Japan banknotes circulating in the market is on a sharp rise. So is it too early to worry about the possibility of inflation asks the Yomiuri Shimbun newspaper on Monday.
Argentine central bank chief steps down from post
ARGENTINA - Mario Blejer, Argentina's central bank chief, resigned on Friday, raising fears that the country could be poised for a return to hyperinflation.
Geneva meet to debate Islamic mortgages
UK - A Bank of England working party, which includes representatives of commercial banks and the Treasury, is investigating the wider introduction of Shari'ah compliant house mortgages in the UK, according to the UK's Observer newspaper.
Thai bond plan seen as 'ambitious'
THAILAND - Thailand's plan to issue the equivalent of $18.5bn (£12.6bn) in baht bonds to pay for the central bank's massive losses from the 1997 crash are "very ambitious" and must be handled with care, said economists on Sunday.
China's e-banks gaining popularity
CHINA - At least 2.5m Chinese "netizens" - about 23 per cent of the country's regular Internet users - are likely to use electronic banking services, said a recent AC Nielsen survey on e-banking, reports the New China News Agency.
Irish central bank outlines regulatory duties
IRELAND - The central bank has written to the Government on the scope of its regulatory duties in the aftermath of the Allfirst fraud, which cost AIB dollars $691 million.
NZ closes applications for central bank chief post
NEW ZEALAND - Applications for the position of Governor of the Reserve Bank of New Zealand have closed but officials will not comment on how many candidates have expressed an interest in the position so far.