Central Banking
Speech by William Poole, St Louis Fed Bank, 8 Mar
SPEECH - In the speech titled 'The Role of Finance in the Investment Bust of 2001' Poole likens the current recession to the coldness of space and the planet pluto in particular. Are we in "the pluto recession"? "The astronomers argue about whether Pluto…
Are we in recession? No we're on the planet Pluto
US - Amid the was it or wasn't it debate about the U.S. recession, a senior Federal Reserve official has coined a new phrase for the economic downturn that began last March, dubbing it: "the Pluto recession."
James Tobin, Keynesian economist of first rank
OBITUARY - James Tobin, the most influential Keynesian theorist of his generation, who became famous for his proposed tax on currency trading, has died aged 84.
Tokyo sees light at end of tunnel
JAPAN - Japan's longest recession since 1993 may be slowly coming to an end as inventories are run down and companies gear up for a faster-than-expected US and European recovery, according to Heizo Takenaka, economics minister.
Speech by T Latter, Deputy Chief Exec HKMA, 12 Mar
SPEECH - In the speech titled 'Why blame the peg?' Latter defended Hong Kong's association with the US dollar saying that the Hong Kong dollar's peg to the U.S. currency was "the most appropriate monetary anchor for Hong Kong."
ECB Working Paper Series
RESEARCH - Non-standard central bank loss functions, skewed risks, and certainty equivalence, by Ali al-Nowaihi and Livio Stracca, March 2002.
Speech by David Dodge of Bank of Canada, 12 Mar
SPEECH - Dodge said in the speech titled 'Monetary Policy Choices: The Canadian Experience' that the worst of the economic downturn was over, and said that the bank was accelerating its timetable for forecast economic recovery.
Bank of Canada Press Release
PRESS RELEASE - Bank of Canada Governor Reviews Canadian Monetary Policy Choices, 12 March.
Speech by Fed Reserve Governor Mark Olson, 12 Mar
SPEECH - In the speech titled 'Current Industry Issues' Olson agreed with views many central bankers have expressed recently when he said that "for the past few months we have seen clear indication that economic conditions are improving and we are either…
Review of a new book on Monetary Policy
BOOK REVIEW - Monetary Policy Goals, Institutions, Strategies, and Instruments by Peter Bofinger published by Oxford University Press.
Olson - US economy at or near end of down phase
US - Federal Reserve Governor Mark Olson said on Tuesday recent reports over the past few months show the downturn that hit the U.S. economy last year has likely bottomed out.
Bank of Canada brightens economic forecast
CANADA - Bank of Canada Governor David Dodge declared on Tuesday that the worst of the economic downturn was over, in a speech that suggested the bank was accelerating its timetable for forecast economic recovery.
Domingo Solans says ECB monetary policy credible
SPAIN - The credibility of the European Central Bank's (ECB) monetary policy is demonstrated by the euro zone's low inflation, ECB executive board member Eugenio Domingo Solans said on Saturday.
Colombia central bank launches new COP1,000 bill
COLOMBIA - Colombia's central bank on Tuesday launched a new 1,000 peso bill ($1=2271.50) to complement the coins of that denomination in circulation already.
ECB gold reserves - EUR35M in week of 8 March
GERMANY - The Eurosystem's net reserves in gold and gold receivables declined by EUR35 million, to EUR126.8 billion, in the week ended 8 March, the European Central Bank said Tuesday.
Duma to consider bill on central bank of Russia
RUSSIA - The bill "About the Central Bank of Russian Federation (Bank of Russia)" will be considered by the State Duma in the second hearing on 15 March.
RBI to review primary dealership arena
INDIA - Our Banking Bureau Mumbai After taking an in-principle decision to discontinue the satellite dealers, the Reserve Bank of India (RBI) is set to review primary dealers (PDs) in terms of their number, obligations, activities and regulation, said Y…
ECB Issing says eurozone econ hit bottom in '01
FRANCE - Europe's economic slowdown hit bottom at the end of last year and growth should be back above 2% by the end of 2002, European Central Bank Chief Economist Otmar Issing says in an interview with Les Echos Tuesday.
Labour mismatches plague euro zone
GERMANY - Austria has too many construction workers and too few hairdressers. France suffers from an abundance of woodworkers but a shortage of nurses. These are some of the findings of an ECB report published today.
Japan to name two businessmen to BOJ board-sources
JAPAN - The Japanese government has provisionally decided to name two businessmen to the Bank of Japan's (BOJ) policy-setting board to replace members whose terms expire at the end of the month, according to sources, Reuters reports Tuesday.
Shiokawa - New anti-deflation steps to be concrete
JAPAN - A new round of anti-deflation steps being prepared by Japan's ruling coalition will likely flesh out the plan to combat falling prices already announced by the government, Finance Minister Masajuro Shiokawa said Tuesday.
India's c bank set to open rep office in Dubai
UAE - State-owned State Bank of India (SBI) is planning to open a representative office in the UAE this year to tap the NRI resources, SBI chairman Janki Ballabh said.
Australia's Macfarlane moves Reserve goal posts
AUSTRALIA - The Reserve Bank of Australia governor advised the Australian Government against repayments of borrowed US dollars.
Investors in Belgian national bank head for courts
BELGIUM - Banque Nationale de Belgique (BNB) is likely to find itself taken to court by its minority investors, claims Financial News in London.