Monetary Policy
Fed's Parry: Economy still in soft patch
President Robert Parry of the San Francisco Federal Reserve said on Wednesday May 28 that the Fed still has room to lower rates in spite of forecasts of stronger growth.
Germany accused of cooking OECD's books
An OECD spokesman admitted on Wednesday May 28 that an influential report was doctored at the request of the German government in order to provide a more flattering picture, according to a report in the Daily Telegraph.
China unlikely to allow locals to trade HK stocks
China's state press has said domestic traders in China are unlikely to be allowed access to international stock markets soo, reports Channel News Asia.
Bosnia to withdraw controversial c bank member
After a meeting on Wednesday 28 May, Bosnia-Hercegovina Presidency Chairman Borislav Paravac said Cvijetin Nikic would be withdrawn from duty as a member of the governing board of the Bosnia-Hercegovina Central Bank.
Fukui statement to the House of Representatives
In his statement concerning the Bank's Semiannual Report on Currency and Monetary Control Toshihiko Fukui of the Bank of Japan said the bank believes that the existing economic model, which supported Japan's postwar economic growth, needs to be replaced,…
BoJ Monetary Policy minutes, April 7 & 8
Minutes of the Bank of Japan's Monetary Policy Meeting on 7 and 8 April 2003, released 23 May. The majority of members agreed that it was appropriate to maintain the current stance in the guideline for money market operations, and continue to provide…
Olson on the prospects for economic growth
In a speech on 'Assessing Prospects for Economic Growth in the United States' Mark Olson of the Federal Reserve said the recent news from oil and financial markets and about consumer confidence clearly suggests that the reduction in risks associated with…
A fine line between deflation and inflation
An article in the Financial Times says that if the Federal Reserve continues with its current policies, inflation could become a threat, but a change could see further contraction it contends. On asset price bubbles the author says the world economy…
The role of asset prices in shock transmission
The Bank of England Working Paper entitled 'The role of asset prices in transmitting monetary and other shocks' constructs a framework within which the ability of asset prices to convey information about the underlying shocks hitting the economy can be…
New governor Bernanke is shaking up the Fed
In a few short months, Ben Bernanke has done what other Fed governors have not: taken center stage from Chairman Alan Greenspan on some of the most controversial topics before the board. An article published by Steve Liesman for CNBC says Bernanke sheds…
Garganas under fire on salaries
In an interview published on Saturday May 24 by kathimerini, Bank of Greece chief Nikos Garganas warned that unchecked pay increases would boost inflation, reduce competitiveness and lead to job losses. But his comments drew criticism from government and…
Politics blamed for jailed ex Ukraine c banker
The influential Ukrainian newspaper Zerkalo Nedeli carried out a detailed analysis of the case against former deputy central bank chief Volodymyr Bondar who was jailed for five years last week. The paper said the charges don't hold water.
Bank indicates worst of Venezuela's crisis over
Venezuela has forecast a partial recovery in the local economy, according to Reuters. The central bank governor said in an interview published on Tuesday May 27 that it is difficult to expect a worse situation for the remainder of the year than what has…
Calls for Serb c banker to be removed
The principal deputy high representative in Bosnia-Hercegovina, has demanded the withdrawal of Cvijetin Nikic from the managing board of the Bosnia-Hercegovina Central Bank, according to a report by the Beta news agency.
Brazil's Meirelles says inflation not yet stable
Speaking in testimony to Brazil's parliament, Bloomberg reported that central bank President Henrique Meirelles said inflation was not yet under control and the bank will keep a watch with its interest rate policy.
SARS trims growth in Malaysia to 4%
Malaysia's economy grew at its slowest pace in a year in the first quarter, the government said on Wednesday May 28, according to a Bloomberg report, as overseas sales of Unisem Bhd. and other computer chipmakers fell.
Issing on efficiency in financial institutions
In a speech on 'Efficiency in financial institutions' Otmar Issing of the ECB said sound central banking, but also banking in general and the business of savings banks in particular, must be based on long-term objectives. In this context, the monetary…
Reserve Bank of Fiji - Annual Report 2002
The Reserve Bank of Fiji has published its Annual Report for the year ended 2002.
Norges Bank Financial Stability Report No.1, 2003
The Central Bank of Norway, Norges Bank, has published its twice yearly Financial Stability Report 1/2003. In the report the bank said the outlook for financial stability is considered to be satisfactory, but somewhat weaker than six months ago.
Inflation is a bigger danger than deflation
An article in the Financial Times says that although the threat of global deflation has become a preoccupation for economic commentators there are signs of the loss of value of dollar money, which is a symptom of incipient monetary inflation.
ECB's Padoa-Schioppa: no danger of deflation
Tommaso Padoa-Schioppa of the ECB was quoted Monday as saying speculation over deflation was alarmist and that the central bank stands ready to act if necessary, according to Reuters.
Turkey, Kazakhstan sign banking sector memorandum
Turkey's Banking Regulation and Supervision Agency and the central bank of Kazakhstan have signed a memorandum of understanding in the line of the joint goal of ensuring financial system stability, according to the anatolia news agency.
Brazil cb to maintain curent monetary policy
Brazil's central bank governor has said the bank will maintain its current stance on monetary policy despite the resignation of the director of economic policy, according to a report in the Wall Street Journal.
Bosnian banking agencies, central bank sign deal
Bosnia-Hercegovina Central Bank Governor Peter Nicholl signed a memorandum on cooperation and exchange of information in Sarajevo with banking agencies from Serbia and Bosnia-Hercegovina, reports the SRNA news agency.