Monetary Policy
Mersch on reform of the ECB's Governing Council
In a speechon 'The reform of the Governing Council of the ECB' Yves Mersch of the Central Bank of Luxembourg said particularly important and heartening, in his eyes, after the Council's approval of the enabling clause was the fact that a handful of…
The euro could help Iraq's economic recovery
In an article in the Financial Times Professor Steve Hanke says that to be successful, a currency reform plan in Iraq must be informed by the country's history, well crafted and available fast.
Looters strip Baghdad's banks of cash
Iraq's battered central bank has been ransacked many times by mobs of looters who hunt for any banknote not incinerated, reported Middle East Online.
BoJ can increase bank shareholdings
The Bank of Japan could increase its purchase of shares held by Japanese banks as part of its drive to protect them from falling stock prices, says BOJ governor Toshihiko Fukui as reported by Associated Press as
ECB officials give conflicting signals on rate cut
Speaking separately this week two ECB Governing Council members gave conflicting views on what a fall in inflation below the ECB's 2 per cent target would mean for interest rates, according to Bloomberg report.
Perng says SARS unlikely to harm NT dollar
The SARS outbreak is unlikely to have a significant impact on Taiwan's economy. That was the view expressed by Central Bank of China governor Perng Fai-nan to Taiwan's finance committee on Thursday 17 April, reports the Central News Agency.
New York Fed's McDonough will attend May 6 FOMC
William McDonough will attend the Federal Reserve's May 6 meeting of the FOMC before taking up his position at the SEC, the Fed said on Wednesday 16 April, Reuters reports.
Report questions virtues of inflation targeting
A study published by the National Bureau of Economic Research suggests that adopting an inflation target has no effect on a country's economic performance, according to a report by Dow Jones.
Russian Fin Min: Inflation target will be hit
The Russian finance ministry has said it expects inflation to remain under its 12 per cent target for 2003, according to the Moscow Times.
Deutsche Bundesbank Monthly Report, March 2003
The Bundesbank said in its March 2003 monthly report that growth in overall output came to a halt in the fourth quarter of 2002 and the labour market situation deteriorated further around the turn of the year.
Richmond's Broaddus on the economic outlook
In a speech J. Alfred Broaddus of the Federal Reserve Bank of Richmond said the Federal Reserve must be unusually vigilant on monetary policy given the extraordinary level of uncertainty about the US economic outlook. Broaddus also said that, in his…
St Louis Fed's Poole on shocks and more shocks
In aspeech on 'Shocks and More Shocks' William Poole of the Federal Reserve Bank of St. Louis said despite multiple shocks in recent years, the U.S. economy will probably continue to grow. "I cannot guarantee that the modest economic growth rate of last…
The Regional Economist, April 2003
The Quarterly Review of Business and Economic Conditions, The Regional Economist, April 2003 edition from the St Louis Fed includes an article 'Is Confidence High?' Economic forecasters rely on monthly consumer confidence surveys to help them determine…
Estonian c bank says gov't should balance budget
A report on Estonian Radio said that the president of the Baltic nation's central bank, Vahur Kraft, has told the ruling coalition that the budget must be balanced or investor trust will be lost.
Slovak c bank's first quarter loss near prediction
The National Bank of Slovakia reported on Monday that it made a loss for the first quarter of 2003, acording to a report from TASR. The loss was mainly due to fluctuations in the koruna currency's rate.
Bank of Russia changes exchange rate mechanism
Russia's central bank has changed the procedure by which it establishes the rouble exchange rate with the dollar. Pravda reports that the bank will now use the average-weighted rate of the US dollar at the Unified Trading Session (UTS) of the inter-bank…
LDP's Yamasaki says expects more steps from BOJ
A senior Japanese politician said on Wednesday 16 April he had confidence that the Bank of Japan would adopt new measures to boost Japan's ailing economy, Reuters reports.
Chilean Senate approves new Central Bank director
Chile's senate has approved the appointment of Vittorio Corbo to the board of directors of the Central Bank of Chile, according to a Reuters report. President Ricardo Lagos is widely expected to name him as the new central bank chief shortly.
Venezuela central bank cuts rate to 36 pct
Venezuela's central bank cut interest rates to 36 percent as tight currency controls and price curbs to shore up international reserves continue.
Citigroup's Fischer mum on New York Fed post
After speculation that former IMF official and Citigroup Vice Chairman Stanley Fischer may be set to take over at the New York Fed, Monday brought silence from Fischer, Reuters reported.
UK Treasury suggest positive Bank inflation report
The Treasury appeared to suggest on Monday that the Bank of England's inflation report, due early next month, could narrow the gap between the Treasury's inflation forecast and the Bank's, the FT reported.
Central Bank of Barbados starts 2 day conference
The central bank of Barbados is holding a conference on corporate governance in the financial sector, the Jamaica Observer reported. The Bank said the conference was prompted by the "recent international corporate upheavals".
Santomero on the economy in transition
In the speech 'The Economy in Transition' Anthony Santomero of the Federal Reserve Bank of Philadelphia said that it was too soon to say the U.S. economy was back on track, but suggested an outlook for growth of 3 to 4 percent for the US economy by the…
Canada's Dodge - Focusing on the long term
In the speech 'Focusing on the Long Term' David Dodge of the Bank of Canada said it is tough to maintain a clear view of the current economic picture. But spending our energy focusing on the near term risks losing sight of what's farther out. In an…