Central Banking
Gold bugs should not get too excited
AUSTRALIA - Predictions of a sustained increase in gold prices are not expected to be realised. The reason for the lack of a sustained revival is the poor business foundations of the gold industry.
Some EU countries already vying for No. 2 ECB spot
EUROPE - Just days after Wim Duisenberg announced he would resign next year as president of the European Central Bank, some countries began suggesting they would like one of their own in the central bank's No. 2 seat, which opens up at the end of May…
Czech central banker opposes ERM
CZECH REPUBLIC - The Czech Republic should spend as little time as possible in an exchange-rate mechanism prior to adoption of the euro, said the central bank's governor, Zdenek Tuma.
Speech by William Poole of the St. Louis Fed Bank
SPEECH - In the speech titled 'The Role of Anecdotal Information in Fed Policymaking' Poole said that with formal data giving an incomplete and often delayed picture of the economy, including in the key areas of growth and inflation, anecdotal…
St Louis Fed's Poole - Markets must understand Fed
US - St. Louis Federal Reserve President William Poole said on Wednesday that it was important financial markets understand the goals and plans of monetary policymakers.
Speech by Christian Noyer of the ECB
SPEECH - Noyer called the speech 'Success factors of the euro and the ECB' and said the euro is undervalued against the dollar, but added it was "very difficult" to tell when the euro would rebound, 13 February.
ECB Monthly Bulletin, February 2002
REPORT - The European Central Bank has published its latest Monthly Report for February 2002.
Venezuela's currency in freefall
VENEZUELA - Venezuela's currency has plummeted 25% against the US dollar after the government scrapped five-year-old exchange rate controls.
ECB Press Release
PRESS RELEASE - Annual hard copy publication of the: List of Monetary Financial Institutions and institutions subject to minimum reserves as at the end of December 2001, 14 February.
Succession scramble at ECB
FEATURE - For those few who enjoy the subtleties of central banking politics, a glacial but important semantic change has occurred over the past couple of years.
Gay online bank shuts down
US - The first online bank aimed at the gay and lesbian community in the US is to close after admitting it could not make a profit in the current economic climate.
Argentine peso strengthens
ARGENTINA - It is now three days since Argentina allowed its currency, the peso, to float freely for the first time in more than a decade and so far the peso has held its own, contrary to many experts' predictions.
New US stock market rules unveiled
US - The US stock market regulator has proposed new rules for faster corporate disclosures, in the first reform taken in the wake of the Enron scandal.
Havel to re-appoint Niedermayer to CNB Bank Board
CZECH REPUBLIC - President Vaclav Havel will re-appoint central bank CNB vice-governor Ludek Niedermayer, whose six-year mandate would expire on 27 February, to the Bank Board for another term on Friday, presidential spokesman Ladislav Spacek told CTK…
Russian gov't to suggest amendments to c bank bill
RUSSIA - The Russian government intends to suggest its amendments to the Bill on the Central Bank of Russia before the second reading, Deputy Prime Minister, Finance Minister Alexei Kudrin told reporters.
Polish govt strategy breeds more caution
POLAND - Two weeks after Poland's left-wing government issued an ambitious five-year strategy to kick-start slumping economic growth, the National Bank of Poland has maintained a stony silence.
ECB Feb bulletin - Reiterates Duisenberg remarks
GERMANY - The European Central Bank Thursday repeated that interest rates in the euro zone remain at an appropriate level and that it expects a gradual economic recovery this year.
Latvian parl't approves Ruselis c.bank deputy head
LATVIA - A Latvian parliament spokeswoman said on Thursday lawmakers approved financier Andris Ruselis as the central bank deputy president, whose tasks will include preparing the country for eventual adoption of the euro.
Speech by Villy Bergstrom of the Sveriges Riksbank
SPEECH - In the speech given 11 February Bergstrom said capital market regulation and the idea of a levy on speculative foreign exchange transactions, a "Tobin tax", may gain favour among politicians after a decade of currency crises.
Speech by Eddie George, Bank of England Governor
SPEECH - In the speech made Tuesday evening George said an unexpected jump in the UK's January inflation rate was probably "erratic" and forecast it would be around the Bank's 2.5 percent target in two year's time.
Bank of England Inflation Report - February 2002
REPORT - The Bank of England has published its latest quarterly inflation report for February 2002, 13 February.
CGFS release report on IT innovation and financing
PRESS RELEASE - Under the auspices of the Bank for International Settlements (BIS), the Committee on the Global Financial System (CGFS) is today releasing a report entitled IT innovations and financing patterns: implications for the financial system, 13…
Committee on the Global Financial System (CGFS)
REPORT - IT innovations and financing patterns: implications for the financial system, February 2002.
Bank of Japan Monthly Report - English text
REPORT - Monthly Report of Recent Economic and Financial Developments from the Bank of Japan, February 2002. Full English text available 13 February.