Central Banking
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…
Brazil lands $10bn loan from IMF
BRAZIL - After nearly a week of falling currency, stock and bond markets, Brazilian central bank president Armenio Fraga and finance minister Pedro Malan announced that the country would tap into $10 billion of IMF loans. The World Bank also joined in…
Bank of England Working Paper No 156
RESEARCH - Bank of England working paper on 'Equilibrium exchange rates and supply-side performance' by Gianluca Benigno and Christoph Thoenissen.
Why the Fed should ignore the stock market
ARTICLE - Opinion from James B. Bullard and Charles M. Hokayem of the Federal Reserve Bank of St. Louis argue the Fed should not react to equity price developments because it would be 'similar to looking in a mirror', saying that such a policy would only…
Central Bank of Turkey - Annual Report 2001
ANNUAL REPORT - The Central Bank of the Republic of Turkey has posted its annual report for 2001 onto its website today.
IMF Quarterly Global Financial Stability Report
REPORT - The IMF has published its Global Financial Stability Report on market developments and issues for June 2002. It provides quarterly assessments of global financial markets and addresses emerging market financing in a global context. A transcript…
Bank of Japan Monthly Report, June 2002
REPORT - The Bank of Japan has published its Monthly Report of Recent Economic and Financial Developments for June 2002. The full English translation will be available on June 14.
Speech Wim Duisenberg, ECB president, 13 June
SPEECH - In a speech on 'The euro as a catalyst for integration and competition in EMU', Wim Duisenberg talks about the link between European integration and the euro, explaining the need for further structural reforms and their importance for the smooth…
Federal Reserve Beige Book, June 2002
REPORT - The Federal Reserve has issued the Beige Book for June, which states that overall economic activity expanded at a moderate pace in late April and May. The tone was one of modest but uneven growth, with some major sectors showing signs of…
Thai cb to share massive debt burden
THAILAND - The central bank is set to share responsibilty with the government for the bonds issued to cover losses for the state's financial rescue fund. Sommai Phasee, deputy permanent secretary at the Ministry of Finance, made the announcement today in…
No threat to cb independence says Polish president
POLAND - Alexander Kwansniewski, the president of Poland, in suporting anammendment to bring the bank act in to line with EU standards, offeredreasurrance over the National Bank's independence: "I cannot see any threats to the independence of the central…
Philippine cb should lobby for more power says IMF
PHILIPPINES - The International Monetary Fund is pressing the Bangko Sentral ng Pilipinas, the central bank in the Philippines, to lobby for changes in the country's banking laws in a bid to strengthen the central bank's supervisory powers over banks.
ECB raises inflation forecast
GERMANY - The European Central Bank on Thursday raised its projection for inflation this year, underlining pessimism about prices that suggests the bank may raise interest rates later this year.
IMF mission arrives in Argentina
ARGENTINA - An International Monetary Fund mission landed in Argentina on Thursday to discuss the possibility of resuming billions of dollars in credit after a six-month freeze, which could open the door to other aid sources and help stop contagion to…
BoJ keeps monetary policy unchanged
JAPAN - Japan's central bank left its monetary policy unchanged Wednesday, sticking to its stance of freeing up cash to circulate through the financial system, reports Dow Jones.
Korean governor hints at rate rises
KOREA - Bank of Korea governor Park Seung signalled on Wednesday that more interest rate rises might be in the pipeline as he stressed the need to curb price pressures in a rapidly expanding economy.
Vote of confidence for Brazil governor
BRAZIL - The Brazilian government's candidate for presidential elections, Jose Serra, said on Tuesday he hopes to keep Arminio Fraga as president of the central bank if he wins the October vote.
Irish growth rate set to dip says CB
IRELAND - Economic growth in Ireland is set to halve in 2002, but next year should see an upturn, according to the country's central bank.