Monetary Policy
Kazakh central bank lists economic union stages
The National Bank of Kazakhstan has listed the stages necessary for creating an economic zone between Kazakhstan, Russia, Ukraine and Belarus. Chairman of the Bank Grigoriy said the move will undoubtedly benefit Kazakhstan from growing trade between the…
Netanyahu wants better relations with central bank
Benjamin Netanyahu took office on Sunday as Israel's new finance minister, and vowed better cooperation with the central bank. Netanyahu and Meir Sheetrit met Israel's central bank chief David Klein on Sunday to discuss cooperation between the Finance…
Carr to leave RBNZ as Adrian Orr comes in
Deputy governor Rod Carr will leave the Reserve Bank of New Zealand in July to take a job with a Software Corporation. Adrian Orr will become Assistant Governor and Head of the Reserve Bank's new Financial Stability Department.
Bank of Japan warned on asset holdings
Having made significant stock purchases as part of its policy against non-performing loans outgoing governor of the Bank of Japan Masaru Hayami has said further falls in asset prices could leave the Bank dangerously exposed.
St Louis Fed's Poole - Whither Investment?
SPEECH - In the speech 'Whither Investment?' William Poole of the Federal Reserve Bank of St. Louis said questioned whether monetary policy can encourage investment spending in the current environment. In terms of risk premiums and incentives to postpone…
OCC Press Release on Basel Capital Accord
PRESS RELEASE - Comptroller Hawke Highlights Importance of New Basel Capital Accord But Says Important Issues Must be Resolved Before OCC Will Issue Rules, 3 March.
BOK raises pay for its top executives
Pay for top executives at the Bank of Korea increased by up to 30 per cent last year the central bank said, but the move raised eyebrows elsewhere.
Bies on retirement savings, equity ownership
SPEECH - In the speech 'Retirement Savings, Equity Ownership, and Challenges to Investors' Susan Schmidt Bies of the Federal Reserve said the importance of longer-term trends in pension plans and equity ownership has been highlighted by tumbling stock…
Issing on the euro - a stable currency
SPEECH - In the speech 'The euro - a stable international currency' Otmar Issing of the European Central Bank said the brief history of the ECB is already a success story.
Chicago Fed National Activity Index, January 2003
REPORT - CFNAI Shows U.S. Economy Improved in January - In January, the Chicago Fed National Activity Index (CFNAI) moved above zero for the first time since last July. The January reading was +0.38, a substantial improvement from December and the…
UBS labels IMF as source of damaging statistics
The International Monetary Fund has been criticised by UBS Warburg for providing inaccurate data on the Philippines economy, according to a local newspaper report.
Japanese MOF Press Release, 27 Feb
PRESS RELEASE - Statement of G-7 Finance Ministers and Central Bank Governors, 27 February.
Poland to use bank reserve for budget contribution
Poland's finance minister said on Friday that up to a third of central bank "revaluation reserves" could be used in Poland's contribution to the European Union budget.
US bank regulators differ on international rules
Roger Ferguson has supported Basel II saying we have no alternative but to adopt the accord as soon as possible. But the rules were described as being too complex and rigid for what is needed at the same hearing by the Comptroller of the Currency John…
Brazil c bank warns inflation to stay high for now
The central bank of Brazil has said in the minutes from its most recent meeting that it expects the rise in inflation to fall back but risks remain that inflation will remain at "elevated levels".
White House urges Japan to fight deflation
US chief economist Glenn Hubbard has called on Japan to address deflationary pressures through central bank policies. But he acknowledged that the deflationary spiral was only one cause for the country's economic problems.
HM Treasury Press Release Feb 27, 2003
PRESS RELEASE - Bank of England appointments - The Queen has been pleased to appoint, under the Bank of England Act 1998, Rachel Lomax as Deputy Governor of the Bank of England (Monetary Policy), in succession to Mervyn King, 27 February.
HM Treasury Press Release Feb 27 2003
PRESS RELEASE - Allsopp Review: Statistical requirements for monetary and wider economic policymaking, 27 February.
Bank of England Press Release
PRESS RELEASE - The Chancellor of the Exchequer announced today, 27 February, that Rachel Lomax, Permanent Secretary at the Department for Transport, will become the Bank of England's Deputy Governor for Monetary Policy. She will succeed Mervyn King, who…
New York Fed on Current Issues
RESEARCH - The February 2003 edition of the New York Fed's 'Current Issues in Economics and Finance' contains an article titled 'New York City's Economy before and after September 11'. An analysis of employment and income trends suggests that the…
Crow makes the case for higher interest rates
John Crow, the former Bank of Canada chief, suggested that interest rates could increase further as the Canadian inflation rate is close to the upper limit of its target.
IMF says expects rate hike in Canada
The IMF has said Canada may have to increase interest rates as the country is operating close to capacity and inflation presents an increasing danger.
Trichet offers UK support on euro entry
Bank of France governor Jean-Claude Trichet has said he would welcome Britain's participation in the euro single currency at the earliest opportunity.
Greenspan on Aging global population
SPEECH - At a time when demographic factors are strongly affecting economic policy in many countries, Alan Greenspan yesterday told the Senate's Special Committee on Aging that at some point policy-makers will have to face up the fact that as the baby…