Monetary Policy
Frank Lowy re-appointed to RBA Board
Australian Treasurer Peter Costello announced Wednesday the re-appointment of Mr Frank Lowy AC to the Board of the Reserve Bank of Australia. His term will end in December 2005.
RBNZ's New Zealand CPI Inflation Calculator
The Reserve Bank of New Zealand has created a way by which you can easily work out what something which, for example, your grandparents bought for 2 pounds back in 1935 would cost today. It's "The New Zealand CPI Inflation Calculator". A quick check…
Philadelphia Fed Business Review, 2nd Quarter 2003
The Federal Reserve Bank of Philadelphia has published its regular Business Review for the Second Quarter 2003. In the first article President Anthony Santomero asks: What is the root of the corporate governance problems that have recently gained the…
St Louis's Central Banker, Summer 2003
The Summer 2003 edition of the St. Louis Fed's Central Banker magazine has been published. The latest issue carries a feature about the St Louis Fed's "There's a Lot to Learn about Money" campaign. The Fed and the Treasury are once again teaming up to…
Fed Reserve Bank of St Louis - Annual Report 2002
The Federal Reserve Bank of St Louis has published its Annual Report for the year ended 2002. In his message President William Poole described the previous year as a good one for the St. Louis Fed, in almost all regards.
Norges Bank report on the decision-making process
David Longworth, Deputy Governor of the Bank of Canada, and Asbjrn Rdseth, Professor of Economics at the University of Oslo, have evaluated the strategy documents for 2002 and other material submitted to the Norges Bank Board in connection with the…
Bank of Japan Monetary Policy Meeting
At its monetary policy meeting held on 25 June the Bank of Japan unanimously decided to maintain current guidelines.
BoJ's Muto on challenges facing Japan's economy
In a speech on 'Structural Changes in the World Economy and Challenges Facing Japan's Economy' Toshiro Muto of the Bank of Japan said as of now at least it is hard to say that we are sufficiently equipped, considering the several constraints surrounding…
BofE's George shrugs off fears of deflation
In an appearance before the Treasury select committee on Tuesday outgoing governor of the Bank of England Edward George said there was an "extremely" low risk of deflation in the UK and the US, acording to the Independent newspaper. He described the risk…
Wisdom, wit and gaffes from Sir Edward George
As the governor of the Bank of England prepares to leave the Old Lady an article in the Independent guides you, in its words, "through some of Sir Edward's "thoughts" and some other thoughts about Sir Edward, renowned central banker, after-dinner speaker…
Namibian study says customs union hurts economy
A study carried out by the central bank of Namibia shows that the country's loss was approximately 549m Namibian dollars over a period of 12 years as a result of the Southern African Customs Union (SACU) Common Revenue Pool, according to a report by the…
2nd round of talks due Friday over Bulgaria c bank
A second session of talks has been scheduled for Friday to discuss candidates for governor of the central bank of Bulgaria, Novinite reports. The option of naming a third nominee will be considered at Friday's consultation.
Constitution could mean veto loss over ECB changes
The new draft European constitution could mean European member states would no longer have a veto over adjustments to the workings of the ECB, according to the Financial Times. The UK Treasury and the Foreign Office both said they would campaign for…
Norges Bank reduces interest rates by 1 per cent
Norges Bank, the central bank of Norway, cut its main interest rate by 1 per cent to 4 per cent on 25 June.
Regional central bank unviable - Tito Mboweni
Tito Mboweni, governor of the South African Reserve Bank, said on Tuesday 24 June "We have agreed we will do some research on what the feasibility is of a common central bank for South Africa, Lesotho, Swaziland and Namibia", according to Reuters…
Norway's c bank makes largest rate cut in 10 years
Norway's central bank cut its main interest rate on Wednesday 25 June by a percentage point, the biggest reduction since 1992, to revive a faltering economy in the world's third largest oil exporter. acording to Bloomberg.
Brazil adjusts inflation target upwards to 5.5%
Brazil revised its inflation target up on Tuesday 24 June to 5.5 per cent, reports Merco Press. The 2005 target was fixed at 4.5 per cent. Making the announcement, Brazilian Finance Minister Antonio Palocci emphasized that the government will keep…
RBNZ appoint Head of Operations
The Reserve Bank of New Zealand on Tuesday 24 June announced the appointment of Murray Bain as the Bank's Assistant Governor and Head of Operations. He will have particular responsibility for the Bank's financial, corporate, commercial and other internal…
Deutsche Bundesbank Monthly Report, May 2003
The Bundesbank said in its May 2003 monthly report that major uncertainty in the global economy and on the international financial markets, which peaked in the first quarter as the Iraq war was approaching, has since receded. This is reflected mainly by…
Central Bank of Ireland - Annual Report 2002
The Central Bank of Ireland has published its Annual Report for the year ended 2002. Governor John Hurley said in the foreword to the Annual Report that the international background for the Irish economy in 2002 has been difficult and there are few signs…
BoJ Monetary Policy minutes, 30 April
Minutes of the Bank of Japan's Monetary Policy Meeting on 30 April 2003, released 16 June. The minutes showed at least two of the BoJ's nine policy board members favour the introduction of a "reference rate of inflation" to halt deflation.
BOK governor may get more say over board members
A draft bill may give the Bank of Korea more influence over the appointment of members to its monetary policy board, Dow Jones reports. The proposed bill would increase the number of members the governor, Park Seung, can recommend to the board.
CBN fails to take its place on NBCB governing body
A month after the National Board for Community Banks (NBCB) was inaugurated the Central Bank of Nigeria (CBN) has not attended any meetings nor fill its position on the board, NBCB sources confirmed to Vanguard, Nigeria.
IMF deputy says U.S. Fed has room to cut rates
Deputy IMF managing director Eduardo Aninat said in a speech that the Federal Reserve has played a valuable role in sustaining domestic demand and "retains room to provide further stimulus should the recovery falter", according to a report by Reuters.