Growth
Hong Kong Monetary Authority Press Release
PRESS RELEASE - IMF Mission forecasts a faster growth rate for Hong Kong in 2003.
Philadelphia Fed Business Outlook Survey, Feb 2003
REPORT - Activity in the region's manufacturing sector was mostly flat, according to firms surveyed for February's Business Outlook Survey. Although one-third of firms reported higher new orders in February, one-fifth reported lower orders, and other…
China to remain major foreign capital destination
The People's Bank of China says that although the risks challenging global economic recovery will have a negative impact on China's economic growth the country will retain its position as a major centre of foreign investment.
PBOC says money supply continues fast growth
China's financial sector continued its momentum of good performance in January, with a faster growth in money supply and a stable exchange rate, according to the People's Bank of China (PBOC).
Russia's central bank reduces interest rate to 18%
The Russian Central Bank reduced its refinancing rate from 21% to a record low of 18% from 17 February, having taken into account a slowdown in inflationary growth and the real level of interest rates on the Russian money market.
Japan central bank keeps dismal view on economy
Japan's central bank kept its bleak view of the economy unchanged for the fourth-straight month in a report Monday that said growth was hampered by weak domestic consumption and volatile exports.
ECB concerned by eurozone growth prospects
The European Central Bank on Thursday fuelled speculation about a possible interest rate cut by highlighting concerns about growth across the eurozone area, although it reiterated its stance that its current monetary policy is "appropriate".
ECB's Papademos-Higher inflation target won't help
European Central Bank Vice President Lucas Papademos has said that raising the central bank's inflation target to 3 or 4 percent will not provide more room for growth in the euro area.
BofE cuts growth forecast amid 'heavy' uncertainty
The Bank of England's Inflation Report is ten years old, Mervyn King told a well attended press conference on Wednesday. He announced a cut in the Bank's growth forecast for the UK economy, suggested he didn't know what the stability and growth pact was…
Swedish central bank warns on Iraq uncertainty
Sweden's central bank has warned that uncertainty surrounding a potential war with Iraq may take their toll on investment and economic growth throughout Western industrialised economies.
'Strong euro won't harm EU growth'
European Central Bank President Wim Duisenberg said Thursday that the recent strong rise in the euro should not hit the competitiveness of goods made in the 12-country euro zone, nor harm the outlook for growth in the region.
Chicago Fed National Activity Index, December 2002
REPORT - CFNAI shows continued softness in economic growth in December - In December, the Chicago Fed National Activity Index (CFNAI) remained below zero for a fifth consecutive month. The monthly index came in at -0.49 in December, a small improvement…
Minutes of the Federal Open Market Committee
MINUTES - The Federal Reserve on 30 January released the minutes of its FOMC meeting of 10 December. The information reviewed at this meeting suggested that economic growth had been sluggish on balance since midsummer. Industrial production dropped…
December FOMC saw monetary policy well positioned
Federal Reserve policymakers believed they had already laid a foundation for a pickup in U.S. economic growth when they decided in December to hold interest rates steady, FOMC minutes released on Thursday showed.
France warned over stability pact violation
France's intention to effectively ignore the EU's stability and growth pact brought warnings on Wednesday to stop challenging the rules underpinning the euro, or risk causing long-term harm to the credibility of the single currency.
Does the Beige Book move financial markets?
RESEARCH - In the Atlanta Fed Working Paper 'Does the Beige Book Move Financial Markets?' the authors examine whether the descriptive content of the Beige Book affects asset prices. Their results indicate that more positive Beige Book reports on economic…
Interview with Nobuyuki Nakahara
INTERVIEW - Currently an adviser to Japan's Financial Services Agency Nobuyuki Nakahara is a favourite to land the job of governor of the Bank of Japan in March. In the interview he said the introduction of a 1-3 per cent inflation target would serve as…
Fed's McTeer says new recession unlikely
Dallas Federal Reserve Bank President Robert McTeer said on Thursday the U.S. economy was unlikely to fall back into recession, saying the stage for continued growth is "set reasonably well."
Takenaka says govt, BOJ should share policy goal
Japanese Economics and Financial Services Minister Heizo Takenaka on Thursday called on the Bank of Japan to foster more growth in money supply and said the government and central bank should share a policy goal.
Philadelphia Fed Business Outlook Survey, Jan 2003
REPORT - Growth in the region's manufacturing sector remains sluggish, according to firms surveyed for the January 2003 Business Outlook Survey. Manufacturing activity in the region is showing improvement, according to this month's Business Outlook…
Philadelphia Fed Business Outlook Survey, Dec 2002
REPORT - Growth in the region's manufacturing sector remains sluggish, according to firms surveyed for the December 2002 Business Outlook Survey. Although indexes for general activity and new orders remained positive for the second consecutive month,…
Dodge on Staying the Course
SPEECH - In the speech 'Staying the Course' David Dodge of the Bank of Canada said the current uncertainties will dissipate, and stronger growth will resume, provided we continue to pursue sound macro, trade, and structural policies. What is important is…
Hot Topics from the Dallas Fed, January 2003
REPORT - The latest Hot Topic from the Federal Reserve Bank of Dallas, 'Can the World Economy Give Ours a Boost?' looks at whether we're going to see a surge in foreign economies that might pave the way for more growth in the United States. It discusses…
Takenaka upbeat on Japan growth after Bank reform
Japan's economy and banking minister said Tuesday the economy could eventually return to growth as high as 2.5% after a slow-growth period of painful reform. Heizo Takenaka spoke at the Australian National University and maintained pressure on the Bank…