Monetary Policy
Eurozone inflation reaches ECB's 2% threshold
Eurozone inflation last month rose to the 2 per cent ceiling determined by the European Central Bank, official figures showed on Wednesday, the FT said.
ECB's Welteke, Garganas dash rate cut hopes
European Central Bank council members Ernst Welteke and Nikos Garganas said eurozone interest rates were low enough. Garganas told Bloomberg News, "monetary policy has certainly done its part to create the conditions for a resumption of growth".
The Fed's delicate balancing act
This article published in the FT looks at Alan Greenspan's half-yearly testimony before the House Financial Services Committee on Tuesday. On the whole, it says, he succeeded in clarifying his goals.
India's E-payment volumes soar 34% in 2002-03
The volume of E-payments in India has increased by 34% in the financial year 2002-03, Business Standard reported. At a seminar on smart card technology and its applications, R Gandhi, chief general manager of the Reserve Bank of India, said, "During 2002…
Djelic: the next Serb governor won't be a banker
Serbian daily Danas is preparing to name current Serbian Minister of Energy and Mining Kori Udovicki as the most likely candidate to succeed Mladjan Dinkic as Serbian National Bank governor, Beta News reported.
New Bank team take their bow
Appearing for the first time before the UK Treasury Select Committee in his new capacity as governor of the Bank of England, Mervyn King disarmingly admitted to having "no idea" whether the current level of 3.5% of interests was the correct level. This…
Get ready for Reddy
The coast appears clear for Dr Yaga Venugopal Reddy, deputy governor of the Reserve Bank of India until last year, to assume his well-deserved place as governor. Current governor Bimal Jalan is set to abandon the central bank in August, well before the…
Second term for Mexico's Ortiz
Guillermo Ortiz, the governor of the Bank of Mexico, looks set to push on through to a second term when his current term expires at the end of this year. Ortiz has confirmed that Fox will nominate him to the senate, whose approval will be needed for…
Signs of progress in Iraq
If the business of central banking may occasionally seem a touch hairy in Iraq, it isn't all bad. Although Faleh Salman, the man who has now been confirmed as governor of the central bank by the American interim administration, was the hapless victim of…
Philadelphia Fed's Santomero on economic education
In a speech entitled 'Knowledge Is Power: The Importance of Economic Education' Anthony Santomero of the Federal Reserve Bank of Philadelphia said economic education programs developed and promoted by the Philadelphia Federal Reserve Bank help consumers…
Duguay - Is Canada marching to a different beat?
In a speech entitled 'Is the Canadian Economy Marching to a Different Beat?' given on 13 June Pierre Duguay of the Bank of Canada discusses why the Canadian economy stands out, with strong domestic demand, at a time when other national economies are…
Nat Bank of Kyrgyz Republic - Annual Report 2002
The National Bank of the Kyrgyz Republic has published its Annual Report for the year ended 2002.
Cleveland Fed's Monetary Theory Workshop
Details of the Federal Reserve Bank of Cleveland, Central Bank Institute's Monetary Theory Workshop 14-18 July. Discussions include "The Friedman Rule and the Nature of Monetary Transactions in Alternative Models" and "Mechanism Design and the Role of…
Bo J's money market operation guideline unchanged
At the Monetary Policy Meeting held 15 July, the Bank of Japan decided, by unanimous vote, to set the following, unchanged, guideline for money market operations for the intermeeting period.
UK inflation shows surprise fall
The UK inflation rate fell to 2.8% on Tuesday, moving closer towards the Bank of England's 2.5% target, according to Reuters. Most analysts had predicted an increase to 3.0%.
Dinkic seen as outside bet for Serb bank chief
The Serbian finance minister, Bozidar Djelic, has said it is very unlikely that national bank governor Mladjan Dinkic would be reappointed to the central bank, according to a report by B92.
Nigeria's Sanusi seeks goal-oriented policies
The governor of the central bank of Nigeria, Dr Joseph Sanusi has urged drastic goal-oriented economic policies in West Africa. According to a Vanguard report, he said "To my mind, the time has come for a new approach and commitment to macroeconomic…
Ruble union plagued by further setbacks
Observers say that the much discussed currency union between Russia and Belarus is likely to fail altogether, reports ITAR-TASS, because it would require the Belarussian strongman to relinquish some of his power. "The delay is an entirely domestic issue,…
Ecuador seeks cen bank, fin min say on oil policy
A committee designed to expand Ecuador's oil output will include the president of the central bank of Eduador, according to a report by Reuters. The committee will work together for a year, a presidential decree made public on Monday 14 July said.
Greenspans testimony to Congress
In testimony on 15 July Alan Greenspan presented the Federal Reserve Board's semiannual monetary policy report to Congress. Greenspan said the Fed was prepared to leave interest rates at low levels "for as long as it takes". He said the Fed remained…
French bank chief nominated to head ECB
Bank of France Governor Jean-Claude Trichet was nominated by EU finance ministers on Tuesday 15 July to replace Wim Duisenberg as president of the European Central Bank, Associated Press reports. The nomination will now be sent to the European Parliament…
UK economy 'in uncharted territory'
Giving evidence before the UK parliament's treasury select committee on Tuesday new Bank of England governor Mervyn King said he had "no idea" if 3.5 per cent was exactly the right level for UK interest rates. Rachel Lomax also appeared before the…
Bank of Canada lowers interest rates 0.25%
Bank of Canada lowers target for the overnight rate by 1/4 percentage point to 3 per cent, 15 July. In its press release the bank referred to "unanticipated developments" that bear on the outlook for inflation and economic activity in Canada.
Monday Special - ECB and the retail payments mire
SPECIAL FEATURE - The European Central Bank (ECB) is preparing to intervene in the market for small bank transfers in the eurozone, unless banks move quickly to make euro transfers quicker, cheaper and less bureaucratic. For this weeks Special Feature…