Speech
Caruana on Bank of Spain's 2003 Annual Report
In a speech presenting the Bank of Spain's 2003 Annual Report, given on 18 June, Jaime Caruana said the recovery in the international economy progressively gathered momentum during 2003 and early 2004, as well as extending to other regions. Adding to the…
Canada's Dodge on the changing world economy
In a speech on 'The Changing World Economy: What It Means for Canada' given on 16 June, David Dodge of the Bank of Canada said the Canadian economy is well placed to adjust to the major changes underway in the world economy. While Canada has adopted the…
RBI's Reddy on capital account liberalisation
In the speech 'Remarks on capital account liberalisation and capital controls' given at the Central Bank Governors Symposium convened by the Bank of England on 25 June Dr YV Reddy of the Reserve Bank of India said caution is needed in moving forward with…
Knight: Activities of the BIS- 2003-2004 in review
In a speech on the occasion of the BIS Annual General Meeting on 28 June Malcolm Knight of the BIS said the implementation of Basel II will start in the member countries of the Basel Committee as from the end of 2006, with the most advanced measurement…
Krueger on the IMF at 60: What role for the future
In a speech on 'The IMF at 60: What Role for the Future?' given on 24 June, Anne Krueger of the IMF said if the IMF didn't already exist, it would pretty quickly have to be invented. Though the world is different from that known to the Bretton Woods…
Fed's Gramlich on reducing budget deficits
In a speechon 'Reducing budget deficits' given on 24 June, Edward Gramlich of the Federal Reserve said the United States must reduce its budget deficits and enforce a tighter fiscal policy to ensure the long-run health of the economy.
France's Noyer on indexed bonds, inflation
In a speech on 'The role of inflation - indexed bonds in the process of setting monetary policy: a central banker's perspective' given on 9 June, Christian Noyer of the Bank of France said central banks have to make use of the widest possible set of…
Caruana on 60 years after Bretton Woods
In a speech on '60 years after Bretton Woods - a central banker's view' given on 10 June, Jaime Caruana of the Bank of Spain said central banks have also undergone changes similar to those at the IMF. Developments in macroeconomic theory and the…
ECB's Padoa-Schioppa on challenges post-FSAP
In a speech on 'Challenges of financial integration in the post-FSAP period' given on 23 June, Tommaso Padoa-Schioppa of the ECB said efforts in the post-FSAP period should be devoted to best implementing the new framework. If exploited ambitiously, the…
Fed's Kohn on regulatory reform proposals
In testimony 'Regulatory reform proposals' given on 22 June, Donald Kohn of the Federal Reserve said that the Federal Reserve Board strongly supports legislative proposals that would authorise the payment of interest on demand deposits and on balances…
BoE's King on asset prices and oil price impact
In his opening statement to the Treasury Committee given on 24 June, Mervyn King of the Bank of England said, when asked if it was the case that the Bank had dropped its gradualist approach: "No ... I don't think we have," adding that in any case the BoE…
Canada's Dodge calls for global trade rules
Speaking in Paris on Thursday 24 June, Bank of Canada Governor David Dodge urged the adoption of coordinated global trade rules and accounting practices, but said countries still need to plot their own economic course.
Fed's Bies on trends in risk management
In the speech 'Trends in Risk Management and Corporate Governance' given on 22 June Susan Schmidt Bies of the Federal Reserve said America's banks and other financial institutions are making progress in tightening their rules and procedures but still…
Santomero on preparing for 21st century economy
In the speech 'Preparing for the 21st Century Economy' given on 22 June Anthony Santomero of the Federal Reserve Bank of Philadelphia said technological changes and increased globalisation have driven the US economy over the last decade and led to an…
Trichet: Supply side economics and monetary policy
In the speech 'Supply side economics and monetary policy' given on 22 June Jean-Claude Trichet of the ECB said on the basis of decades of economic research and central banking practice a widespread consensus view has by now consolidated on what monetary…
St Louis Fed's Poole on free trade
In the speech 'Free Trade: Why are Economists and Noneconomists So Far Apart?' given on 15 June William Poole of the Federal Reserve Bank of St. Louis said the media must do more to explain the benefits of free trade to the public, since economists have…
HKMA's Yam on banking sector risks and challenges
In the speech 'Banking sector risks and challenges' given on 16 June Joseph Yam of the HKMA said drew attention to five processes that are likely to have an impact on the banking industry in the future. Each of these will have a different degree of…
Tumpel-Gugerell on a crisis prevention toolkit
In the speech 'Is there consensus on the crisis prevention toolkit?' given on 22 June Gertrude Tumpel-Gugerell of the ECB said the crisis prevention toolkit has been enriched considerably over the last few years. They are logically intertwined elements…
Mervyn King's Mansion House dinner speech
In his Mansion House dinner speech given on 16 June Mervyn King of the Bank of England said central bank practices need to evolve with the technology for payments which is constantly evolving. Widening access to the UK large value payment system can lead…
Broaddus on the economy and monetary policy
In the speech 'Comments on the economy and monetary policy' given on 16 June Alfred Broaddus of the Federal Reserve Bank of Richmond said he was confident U.S. inflation would stay contained, but it was critical to preserve the Fed's credibility for…
Chicago Fed's Moskow on the US economic outlook
In the speech 'U.S. Economic Outlook' given on 17 June Michael Moskow of the Chicago Fed said he believes the Federal Reserve will be able to stick to its pledged "measured" pace of interest-rate hikes, but the Fed will come into action if economic…
Boston Fed's Minehan on US retail payments
In the speech 'U.S. Retail Payments: Opportunities and Challenges' given on 17 June Cathy Minehan of the Federal Reserve Bank of Boston said the Federal Reserve's level of official interest rates is out of step with the strong U.S. economy and the highly…
Fed's Olson on the economic outlook
In the speech 'Economic Outlook' given on 15 June Mark Olson of the Federal Reserve said the Fed should be able to raise interest rates gradually, although economic events would ultimately dictate the pace. He also said that although US inflation has…
King on house price inflation in UK
In a speech given on 14 June Mervyn King of the Bank of England said the risk of a decline in UK house prices is increasing, despite the central bank's latest attempt to cool the housing market after raising interest rates four times since November. He…