Monetary Policy
Bank of Canada Financial System Review, Jun 2003
The Bank of Canada published its semi-annual Financial System Review on 25 June. The Canadian financial system has continued to display impressive resilience in the face of global financial stress. Pressure on the financial positions of Canadian firms…
Croatian National Bank holds conference on reforms
9th international conference on the reforms, results and development experiences of transition and emerging market economies, organized by the Croatian National Bank, started in Dubrovnik on Thursday, June 26. This year's Conference will focus on banking…
SEACEN-BIS Seminar on central bank governance
This seminar (17-20 Feb 2004) intends to examine comparative practice amongst central banks and in particular in the area of corporate governance arrangements within central banks and highlighting linkages with independence, transparency and…
Bangladesh to increase monitoring of forex market
The central bank of Bangladesh will increase the monitoring of its foreign exchange market and import and export activities from the beginning of the next tax year, the New Nation reports. This is in order to reduce money laundering and the misuse of…
Mexico on track for 3% inflation in 2003 - c bank
The governor of Mexico's central bank, Guillermo Ortiz, is reported by Reuters to have said that the trend in inflation for the first two weeks of June suggests the country is going to be in the range of its targets for this year.
Former governor, Central Bank of Sri Lanka dies
The Central Bank of Sri Lanka announced with deep regret, the passing away of Dr Warnasena Rasaputram, a former Governor (1979-1988), a career Central Bank Officer and finally a distinguished diplomat who served Sri Lanka, 25 June.
Split may be developing over choice of RBZ chief
A split is emerging in Robert Mugabe's government over who should succeed outgoing reserve bank governor Leonard Tsumba at the Reserve Bank of Zimbabwe (RBZ). The Financial Gazette reports a number of camps have emerged within Mugabe's top leadership on…
Talks over Bulgaria's central bank head drawn out
After a second round of talks on Friday the decision on the election of a new governor of the Bulgarian national bank will resume next week. Novinite reported one of the two nominees for governor - Ivan Iskrov, gained a lead ahead of current governor…
Shyamala Gopinath appointed RBI executive director
Shyamala Gopinath has been appointed as an executive director of the Reserve Bank of India with responsibility for the departments of banking operations, supervision and financial institutions.
ECB won't follow Fed on rates - Duisenberg
Speaking on German TV, Wim Duisenberg said euro zone interest rates were currently appropriate, Reuters reports, and that the ECB would not follow the lead of the US Federal Reserve by cutting interest rates soon.
Trichet to appear before Euro Parliament in Sept
Jean-Claude Trichet will appear before the European Parliament's Economic and Monetary Affairs Committee on 11 September, according to the EU Observer. He will then face all MEPs at the full plenary session later in the month.
Fed should focus on systemic risk from banks-Stern
Minneapolis Fed President Gary Stern said in an article on regulatory reform this week that "Risk is not evenly distributed across banks", according to a report from Reuters, and that the largest banks, or those focused on payments system processing,…
Minutes show some on FOMC wanted rate cut in May
Minutes from the Fed's May 6 policy meeting, reported by the Washington Post, showed that members would not wait indefinitely for the clouds to clear before lowering rates again in response to falling inflation rates and sluggish economic growth. The…
Federal Reserve cuts federal funds rate to 1%
Statement from the Federal Reserve released 25 June on the decision to lower the federal funds rate by 25 basis points to 1 percent.
First 'Bollard' signed bank notes issued by RBNZ
The Reserve Bank of New Zealand announced on Thursday 26 June that two million $5 notes with Governor Alan Bollard's signature have been printed.
'Money in Motion' from the Philadelphia Fed
"Money in Motion" is a new financial and historical exhibition that is free, fun, and interactive. The exhibit's 16 displays feature interactive games, rare artifacts, and historical narrative that trace the history of money and central banking in the U…
BoJ's purchases of asset-backed securities
the Bank of Japan has decided to establish Principal Terms and Conditions for the outright purchases of asset-backed securities, 25 June.
Bank of England Financial Stability Review, Jun 03
The Bank of England published its latest Financial Stability Review for June 2003 on Thursday 26 June. It contains the Bank's regular half-yearly review of risks to financial stability and measures taken to strengthen the financial infrastructure,…
Koehler : IMF to seek new accord with Argentina
IMF chief Horst Koehler has said the Fund will start negotiations over a new aid accord with Argentina. Speaking to reporters in Buenos Aires he said the agreement would seek to restore Argentina's financial institutions, according to a Bloomberg report.
Reddy, Kelkar in race for RBI top job
The Economic Times reports that a two-horse race is developing for the top job at the Reserve Bank of India if current governor Bimal Jalan moves into politics.
Hungary's band shift was mistake says Gabor Oblath
Gabor Oblath, a nominee for membership on the Monetary Council of the central bank of Hungary, told a parliamentary hearing that the recent devaluation of the midpoint of the forint's trading band was a "grave mistake", according to Interfax.
Bank of Ghana to commence downsizing soon
The Bank of Ghana is aiming for "a lean, more focused and responsive central bank" and said that the planned disengagement of staff would be done in "a humane manner", Ghana Web reports. "The Bank is offering a generous and attractive early retirement…
Polish c bank head calls for EU to speed reform
The head of Poland's national bank on Wednesday 25 june urged the EU to pressurize Poland and other states to speed up economic reform, according to the Financial Times. He urged Poland, Hungary and the Czech Republic to cut their high fiscal deficits.
Bank chief warns on Croatia's growing foreign debt
The governor of the Croatian national bank warned that the country's growing foreign debt was weakening the financial system, according to the HINA news agency. Speaking before parliament on Thursday 26 June, he said the external debt had reached 17.4bn…