Speech
Italy's Fazio on Franco Modigliani
In a speech given on 18 February, Antonio Fazio of the Bank of Italy said the global system is a sort of free-banking regime without an anchor.
Phil Fed's Santomero: lessons from business cycle
In a speech on 'Lessons learned from the recent business cycle' given on 1 March, Anthony Santomero of the Federal Reserve Bank of Philadelphia said the US economy is on track for moderate sustainable growth with relatively stable prices, but declining…
Chicago Fed's Moskow on the US labor market
In a speech on 'Job Loss: Causes, consequences, and policy responses' given on 1 March, Michael Moskow of the Federal Reserve Bank of Chicago said at the moment, wage pressures within the US labor market are behaving as expected.
RBA's Lowe on reform of the payments system
In a speech on 'Reform of the payments system' given on 2 March, Philip Lowe of the Reserve Bank of Australia said the reform process has been going on for a number of years and we are not yet at the end of the road.
Greenspan promotes consumption tax idea
Federal Reserve Chairman Alan Greenspan said in testimony on Thursday 3 March that some form of a consumption tax - such as a national sales tax - could spur greater economic growth but stressed a move to such a system would pose considerable problems.
BSP's Buenaventura on cornerstones of excellence
In the speech 'Strengthening the cornerstones of excellence' given on 10 January (published 25 Feb), Rafael Buenaventura of the Central Bank of the Philippines said when he turns over the reigns of leading the central bank in July this year, he is…
Greenspan stresses need for spending cuts
Federal Reserve chairman Alan Greenspan said on Wednesday 2 March that the US economy is growing at a reasonably good pace but the country must tackle its "unsustainable" budget deficits, primarily through spending cuts.
Richmond Fed's Lacker on inflation targeting
In a speech on 'Inflation targeting and the conduct of monetary policy' given on 1 March, Jeffrey Lacker of the Federal Reserve Bank of Richmond said the Federal Reserve should adopt a target for US inflation, in part to keep concerns about price…
ECB's Trichet on mon. policy stability
In a speech on 'Monetary policy and private expectations' given on 25 February, Jean-Claude Trichet of the ECB said a renewed fellowship between the academic community, the markets and central banks has allowed central banks to effectively deliver the…
Norway's Gjedrem on economic perspectives
In his annual address 'Economic perspectives' given on 17 February, Svein Gjedrem of Norges Bank said Norway can gradually raise interest rates from historic lows because economic growth looks increasingly self-sustaining and stubbornly low inflation has…
BoE's Tucker on monetary policy and stability
In a speech on 'Monetary policy, stability and structural change' given on 1 March, Paul Tucker of the Bank of England said that excess demand in the UK economy was expected to boost inflation over the next few years.
Japan's Fukui on sustainable economic recovery
In the speech 'Toward sustainable economic recovery' given on 28 February, Toshihiko Fukui of the Bank of Japan said the central bank won't change monetary policy even if it makes a technical adjustment to its target for reserves available to lenders.
Cleveland Fed's Pianalto on central bank goals
In a speech on 'Central banks: Different paths, same goal' given on 21 February, Sandra Pianalto of the Federal Reserve Bank of Cleveland said US inflationary pressures remain muted despite a surge in January wholesale prices.
PBOC's Xiaoling on the corporate bond market
In the speech 'Develop corporate bond market to improve financial asset structure' given on 17 January (published 7 Feb), Wu Xiaoling of the People's Bank of China said advancing the development of the corporate bond market is of realistic significance…
RBI's Reddy on monetary policy: An outline
In the speech 'Monetary policy: An outline' given on 12 February YV Reddy of the Reserve Bank of India said the conduct of monetary policy is complex. It has not only to be forward looking but also to grapple with an uncertain future.
IMF's Rato on global imbalances and global poverty
In a speech given on 23 February Rodrigo de Rato of the International Monetary Fund said global imbalances stemming from the mounting US current account deficit are a threat to the stability of the international financial system and require action to…
Atlanta's Guynn on importance of price stability
In a speech on 'The importance of price stability' given on 23 February, Jack Guynn of the Federal Reserve Bank of Atlanta said he expects the national economy to grow by 3 per cent to 4 per cent in 2005, but policymakers need to keep a close eye on…
RBA's Edey on the Australian economy
In a speech given on 25 February Malcolm Edey of the Reserve Bank of Australia reiterated the RBA's recent stance that demand would continue to encourage growth and also acknowledged that inflation had outstripped the central bank's expectations.
Sri Lanka's Mendis on central bank governance
In a speech given on 29 January (published 11 Feb) Sunil Mendis of the Central Bank of Sri Lanka said the strategic plan of a central bank should be formulated in such a way that it strategically links its goals, objectives and action plans to the…
HKMA's Yam on Basel II: Back to the future
In the speech 'Basel II: Back to the future' given on 4 February, Joseph Yam of the Hong Kong Monetary Authority said the new framework of capital adequacy standards for banks, issued by the Basel Committee on Banking Supervision, is an important step…
BoE's Lomax: Mon. stability matters to Merseyside
In the speech 'Why monetary stability matters to Merseyside' given on 24 February Rachel Lomax of the Bank of England said the Bank sees a rebound in household spending and may not be able to wait before increasing interest rates.
RBI's Udeshi on the pursuit of financial stability
In a speech on 'The pursuit of financial stability' given on 10 February, Smt. KJ Udeshi of the Reserve Bank of India said India's banking regulator will continue to focus greatly on financial stability, considering that the country is more vulnerable to…
Le Pan on the implementation of Basel II
In a speech on 'Implementation of Basel II' given on 1 February (published 11 February) Nicholas Le Pan of the Basel Committee said that as we approach each issue of implementing Basel II - when, how and so on - it is important to keep in mind not only…
BoE's Bean: Monetary policy in an uncertain world
In a speech on 'Monetary policy in an uncertain world' given on 22 February, Charles Bean of the Bank of England said that uncertainty is an ever-present feature of the economic landscape that monetary policy makers cannot escape.