Central Banking
Parry said Fed can be "deliberative" over rates
USA - San Francisco Federal Reserve President Robert Parry said that doubt over how long the current "modest expansion" would last leaves the Federal Reserve room to be "deliberative" over hiking interest rates.
ECB survey on bond markets and interest rates
SURVEY - The ECB has published a survey which provides an overview of the capital market structures of the EU accession countries, in particular in relation to the bond markets and interest rates.
Minutes of BOJ monetary policy meeting, 30 April
MINUTES - Bank of Japan has released the minutes of the Monetary Policy Meetingon April 30 2002. The vote was unanimous.
Speech by A Santomero of Philadelphia Fed, 13 June
SPEECH - 'The U.S. Experience with a Federal Central Bank System', a speech delivered by Philadelphia Fed president Anthony Santomero at a conference in Vienna in which he explains the Fed's success and survival by its constant evolution and its dual…
Federal Reserve Board - Annual Report 2001
ANNUAL REPORT - The Federal Reserve Board has published its Annual Report for the year ended 2001.
Speech by Svein Gjedrem, Norges Bank, 11 June
SPEECH - In a speech titled 'Monetary policy and wage growth', Svein Gjedrem, governor of Norges Bank, addresses the general assembly of the Employers' Organisation NAVO, 11 June 2002.
Speech by Jaime Caruana, Banco de Espana, 14 June
SPEECH - The governor of the Banco de Espana addresses the governing council of the central bank on the presentation of the annual report, 14 June. He reviews the progress of the Spanish economy in the past year and the challenges it has faced, and…
Bank of Spain - Annual Report 2001
ANNUAL REPORT - Bank of Spain annual report for 2001 is now available online.
Weak demand damaged German economy says Welteke
GERMANY - Ernst Welteke, governor of the Bundesbank, believes that a recovery is on its way in the German economy, but that limp consumer demand is hindering its pace. He said demand for German exports and a stronger global economy would help "the German…
Argentina pledges not to use reserves to repay IMF
ARGENTINA - Economy minister Roberto Lavagna has assured the IMF technical mission currently visiting the country that central bank reserves will not be used to pay back loans from the IMF and the Inter-American Development Bank which are due to mature…
Bank Indonesia and govt to resolve loan dispute
INDONESIA - Bank Indonesia is close to putting an end to a dispute with the government which has continued for two years. A final agreement has yet to be reached to this problem which is rooted in the billions of dollars in liquidity support channeled to…
Chinese currency now convertible in Nepal
NEPAL - Nepal Rastra Bank for the first time today fixed its exchange rate at nine rupees to one Chinese yuan. Governor Dr Tilak Rawal and Chinese Ambassador Wu Congyong signed the free convertibility accord on Monday.
Venezuela widens fiscal deficit target to 3% GDP
VENEZUELA - Central bank chairman Domingo Maza Zavala has announced that the government has widened its 2002 fiscal deficit target to 3% of GDP from 2.7% due to lower than expected tax receipts.
Quaden warns of Belgian budget deficit in 2003
BELGIUM - Guy Quaden, governor of the Belgian National Bank, has warned that Belgium may return to a budget deficit next year if the government eases spending controls to help it win elections: "In 2003, I will be very vigilant not only about inflation…
Lars Heikensten new Governor at Riksbank
PRESS RELEASE - The General Council of the Riksbank were today unanimous in their appointment of Lars Heikensten as new Governor of the Riksbank to succeed Urban Backstrom. Heikensten was appointed for a period of six years with effect from 1 January…
ECB Monthly Bulletin, June 2002
REPORT - The European Central Bank has issued its Monthly Bulletin for June 2002.
Swiss National Bank - Annual Report 2001
ANNUAL REPORT - The Swiss National Bank has issued its annual report for 2001.
Central Bank of Ireland - Annual Report 2001
ANNUAL REPORT - The Central Bank of Ireland has issued its annual report for 2001.
Is It Possible to Predict the Future?
ARTICLE - William Poole, president of the St Louis Fed, has given his opinion on economic forecasting in an article called 'Is It Possible to Predict the Future?'
Nigerian cb under investigation for fraud
NIGERIA - The Central Bank of Nigeria is under investigation for all the cases of fraud, corruption and mismanagement levelled against it and the banking system following an order by the House of Representatives.
Korea's reserves continue to grow
KOREA - Bank of Korea governor Park Seung said yesterday that the central bank expects the nation to become the world's fourth largest holder of foreign reserves by the end of the year. The central bank will therefore continue to increase the level of…
Japan's recession is coming to an end says Hayami
JAPAN - Bank of Japan governor Masaru Hayami said on Friday that the recession which started 20 months ago is coming to an end, adding that he was watching the impact of strong exports and output on the country's non-manufacturers and households.
Cautious optimism on recovery from Fed's Ferguson
SWEDEN - Federal Reserve Board vice-chairman Roger Ferguson delivered a buoyant appraisal of the US economy in an interview published in Swedish newspaper on Friday. "I am cautiously optimistic about the US cyclical development. A recovery is on its way…
China's cb says reform needed in commercial banks
CHINA - The governor of the People's Bank of China, Dai Xianglong, has reiterated the need for Chinese state-owned commercial banks to reform their management and risk control practices. He said the banks need to develop and implement business plans that…