Monetary Policy
Lars Heikensten on the Riksbank and the euro
In the speech 'The Riksbank and the euro' given on 4 September Lars Heikensten of the Sveriges Riksbank said in his opinion, the value of conducting a national interest rate and exchange rate policy is exaggerated in the EMU debate. On the other hand, it…
German inflation rate picks up in August
Final figures for August inflation in Germany showed the rate was unchanged from the July figure of 1.1 percent, AFP reported. The final data were revised downwards slightly from preliminary estimates published at the end of August.
Brazil allowed to draw $4.3B from IMF
After reviewing Brazil's economic performance the IMF has given the go ahead to release $4.3 billion, the second-to-last part of its $30 billion loan, the Associated Press said. Talking to reporters in Brasilia, the nation's capital, Finance Minister…
Deflation remains a serious threat to Japan - IMF
In its annual Article 1V consultation with Japan, the IMF said the economy 'remains vulnerable to significant downside risks' and argued a 'more comprehensive and integrated policy approach is needed to tackle deflation and to address fiscal imbalances',…
Japan's yen selling to alleviate pressure: Fukui
Speaking on the sidelines of the regular meeting of central bank governors at the Bank for International Settlements, Bank of Japan governor Toshihiko Fukui said "We are still cautious about the outlook for Japan's economy, but there are certainly some…
Swedes to say 'no' to euro, latest survey says
A Danske Bank survey published on Monday showed 40 percent of Swedes were opposed to swapping their krona for the euro, while 30 percent were in favour, EU Business reported.
Canada's Dodge on financing world growth
In a speech on 'Financing World Growth' given on 5 September David Dodge of the Bank of Canada said the G-7 finance ministers and central bank governors have adopted much of the approach to crisis resolution detailed in a joint paper published in 2001 in…
Fed's Gramlich on Economic and financial education
In a speech on 'Economic and financial education' given on 4 September Edward Gramlich of the Federal Reserve thanked the Federal Reserve Bank of Atlanta for hosting the conference and bringing together the group of educators. Success in increasing…
Duisenberg on changing fortunes and world growth
In a speech on 'Changing fortunes: financing world growth' given on 5 September Wim Duisenberg of the European Central Bank said he is convinced that economic activity in the euro area can only be lifted to a new, structurally higher, level by far…
Parry on prospects for the national, local economy
In a speech on 'Prospects for the National and Local Economies: A Monetary Policymaker's View' given on 4 September Robert Parry of the Federal Reserve Bank of San Francisco said in the unlikely event that US economic growth disappoints, the Fed could…
BIS Quarterly Review, September 2003
The BIS September 2003 quarterly review, released 8 September, is divided into two parts. The first analyses recent developments in financial markets, financing flows in banking and debt securities markets, and activity on derivatives exchanges. The…
BDO UniconRuf to audit Russian central bank
The Russian central bank has signed an agreement with BDO UniconRuf to audit the central bank's accounts, according to The Russian Journal. The company obtained the right to audit the Central Bank's 2002 report after winning a corresponding tender…
Solomons central banker Rick Hou speaks out
Rick Hou, governor of the Central Bank of the Solomon Islands (CBSI) has spoken out about the government's apparent lack of enthusiasm in renewing his appointment, according to Solomons Today. Mr Hou agreed to a new term as central bank governor after…
No sign of sustained recovery yet - ECB's Schioppa
ECB Executive Board member Tommaso Padoa-Schioppa said on Saturday 6 September that after so many disappointments it is hard to believe in an imminent recovery, Reuters reports. While "some signs" of recovery exist, Padoa-Schioppa said the euro zone…
ECB's Quaden says euro zone rates are low enough
On the eve of the meeting at the Bank for International Settlements, ECB Governing Council Member Guy Quaden told reporters on Sunday 7 September that euro zone interest rates had fallen far enough to support a rebound that was expected by year's end,…
Central bankers see a global upswing
Jean-Claude Trichet said on Monday 8 September that he was "very encouraged" by developments and the accumulation of signs in the major economies in the world, Reuters reports. Speaking at a news conference after a bi-monthly central bankers' meeting at…
Slaves to the mechanical rules of central banking
Stephen Cecchetti, in an article in the Financial Times, delves into history and says it is difficult to justify the unstated extension of Alan Greenspan's argument, as made at the recent Jackson Hole conference, from flexibility in the execution of…
Central Bank of Jordan - Annual Report 2002
The Central Bank of Jordan has published its Annual Report for the year ended 2002. The Jordanian economy in 2002 managed to cope with regional and international developments, the Annual Report says. This outcome was achieved through implementing a set…
Central Bank of Peru - Annual Report 2002
The Central Bank of Peru has published its Annual Report for the year ended 2002. Since 2002, the Central Bank's monetary policy has been conducted following a scheme of Explicit Inflation Targeting, the Annual Report says.
Russian central bank finds WW2 grenade in grounds
Construction workers digging in the grounds of the central bank of Russia found a World War 2 grenade on Thursday 4 September, according to Sapa-AP. Bomb squad members took it to a firing range to be blown up.
SARB to hold special monetary policy meeting
The South African Reserve Bank announced on Friday 5 September that it will hold a special monetary policy committee meeting on September 10, according to the Mail and Guradian. A statement from the Reserve Bank said that "major underlying trends in the…
NOK 500,000 stolen from Norway's central bank
Over NOK 500,000 has been stolen from a vault in Norges Bank, the central bank of Norway, according to the Norway Post. Police investigating the theft have questioned a number of employees who had access to the vault.
Buenaventura asks court to cancel his suspension
Philippines central bank governor Rafael Buenaventura on Friday September 5 asked the Court of Appeals to cancel a one-year suspension imposed on him last month, according to Agence France-Presse.
China's central bank governor defends policy
Zhou Xiaochuan, governor of the PBOC, said on Thursday 4 September that it was too early to make a decision about the loosening of currency controls on the yuan, according to Associated Press. China's official news agency quoted him as saying "It is too…