Monetary policy
Speech by Otmar Issing of the ECB, 5 July
SPEECH - In a speech titled 'Some reflections on handling monetary policy in a global environment' Issing said that coordinated policy action by central banks of the type seen after the September 11 attacks would likely remain limited to exceptional…
ECB Press Release
PRESS RELEASE - Monetary Policy Decisions, 4 July.
Bank of England leaves interest rates at 4%
UK - The Bank of England's monetary policy committee on Thursday left its benchmark interest rate unchanged at 4 per cent, a 38-year low.
Norges Bank Press Conference, 3 July
PRESS CONFERENCE - Monetary policy meeting of Norges Bank's Executive Board / Inflation Report 2/ 2002.
Norges Bank's Inflation Report 2, 2002
REPORT - The Inflation Report discusses developments in the Norwegian economy and other factors that influence the inflation outlook. In addition, the balance of risks and uncertainty associated with the inflation projections are assessed.
Research from the Federal Reserve Bank of Atlanta
RESEARCH - The Behavior of Federal Funds Futures Prices over the Monetary Policy Cycle by Jeff Moore and Richard Austin, Federal Reserve Bank of Atlanta, Economic Review, Second Quarter 2002.
RBNZ raises main interest rate to 5.75 - up 0.25%
NEW ZEALAND - The Reserve Bank of New Zealand said it has decided to increase the official cash rate by 25 basis points to 5.75 pct so that they no longer encourage accelerated spending although further increases were now "rather less likely" than was…
ECB Press Release
PRESS RELEASE - Publication of papers of the workshop 'The role of policy rules in the conduct of monetary policy', 1 July.
ECB Working Paper Series, No 154
WORKING PAPER - The Euro bloc, the Dollar bloc and the Yen bloc: how much monetary policy independence can exchange rate flexibility buy in an interdependent world?, by Marcel Fratzscher, June 2002.
Minutes of Japan's Monetary Policy Meeting
MINUTES - Bank of Japan Monetary Policy Meeting Minutes from the meeting of 20 and 21 May, released 1 July.
Speech by Svein Gjedrem of Norges Bank, 17 Jun
SPEECH - Gjedrem said in a speech titled 'The Norwegian economy and monetary policy' that the Norwegian economy displays a number of strong features. Government finances are solid and foreign trade is performing well. Household finances are generally…
Polish central bank head denies resignation rumour
POLAND - Central bank president Leszek Balcerowicz denied rumours on Friday that he wanted to resign as the Polish National Bank (NBP) president and the Monetary Policy Council (RPP) head.
IMF - Polish central bank has room for more easing
US - The Polish central bank has room to ease monetary policy further, after its half percentage point rate cut on Wednesday, the IMF said, with some IMF directors urging a more ambitious rate cut strategy.
Cabinet reduces number on board at CB of China
TAIWAN - The board of directors, which is responsible responsible for monetary policy at the Central Bank of China, is to be reduced to seven from the current 15 people according to a draft bill passed by the cabinet on Thursday.
Speech by K Persson of Sveriges Riksbank, 11 Jun
SPEECH - Persson said in a speech titled 'The economic situation in a monetary policy perspective' that Sweden's participation in the euro would have various advantages for the economy but acknowledged the disadvantage of a loss of self determination in…
Speech by J Alfred Broaddus, Richmond Fed, 5 Jun
SPEECH - In a speech titled 'An Update on the Economy and Monetary Policy' Broaddus said that the outlook for the next several quarters was 'murky' but that the recovery seemed firmly in place.
Speech by Stephen Nickell, Bank of England, 19 Jun
SPEECH - In the paper titled 'Monetary Policy Issues: Past, Present, Future' Nickell answered questions such as Has the MPC demonstrated a bias towards deflation?, and What are the challenges for the immediate future?
Independent NBP will consider weaker zloty
POLAND - President Aleksander Kwasniewski, who last week agreed to become a mediator between the government and the Monetary Policy Council (RPP), after meeting the latter on Tuesday, has confirmed his dedication to the independence of Poland's central…
Minutes of BOJ monetary policy meeting, 30 April
MINUTES - Bank of Japan has released the minutes of the Monetary Policy Meetingon April 30 2002. The vote was unanimous.
Speech by Otmar Issing, ECB, 10 June
SPEECH - At the ECB Watchers conference in Milan on 10 June, Professor Otmar Issing, member of the Executive Board of the ECB, gave a speech on 'Monetary policy and the role of the price stability definition' in which he concludes that the ECB's twin…
Research from the St Louis Fed
REPORT - The Federal Reserve Bank of St. Louis Review, May/June 2002.
Outgoing MPC member raises bank independence fears
UK - The independence of the Bank of England could be at risk if it continues to undershoot its target for inflation, a member of the Bank's monetary policy committee has warned.
Wadhwani - Inflation forecasts overestimate threat
UK - Reaching for an analogy to explain what the Bank of England's monetary policy committee has got wrong, Sushil Wadhwani turns to the wisdom of one of the cricketing legends: Geoff Boycott in an interview with the Financial Times.
Brash hits back at dissent on growth policy
FEATURE - Former New Zealand Reserve Bank governor Dr Don Brash has hit back at the view that the bank's approach to monetary policy hobbles economic growth reports the New Zealand Herald on Tuesday.