Monetary Policy
Outgoing BoJ chief doubts market interventions use
Speaking on Friday Bank of Japan governor Masaru Hayami said he thought central banks attempts to intervene in the foreign exchange market were not vary effective.
RBZ lacks autonomy, says economic analyst
An economic analyst for the Zimbabwe Economic Society has said that Zimbabwe's central bank lacks independence, with the governor appointed by the president and the government able to borrow money "willy-nilly" from the central bank.
UK Treasury criticised over Bank appointments
UK chancellor Gordon Brown faced criticism on Thursday over the lack of transparency in the appointments process to the Bank of England's Monetary Policy Committee.
Inflation targeting, growth move in sync - Mboweni
A low inflation environment supports economic growth and no one can oppose that, said Tito Mboweni. The South African Reserve Bank governor was speaking in his first lecture at a university he is an honorary professor of.
Fed's Gramlich: Iraq impact 'imponderable'
Ed Gramlich of the Federal Reserve said on Thursday that a conflict with Iraq would have consequences for the US and world economy but that the effects were impossible to predict.
Bank of Mexico in paintings mix up with government
CentralBankNet hears of an unfortunate mix up involving valuable paintings, the Bank of Mexico and an apparent infringement of copyright on the central banks fine art collection.
Vintage ECB
FEATURE - Reports that certain ECB policy makers weren't exactly seeing eye to eye inspired a question to Lucas Papademos on the subject at Thursday's press conference. The answer did not reveal much, apart from the ECB's choice of wine at the top table,…
Kohn testimony on Business Checking Freedom Act
SPEECH - The Fed backs paying interest on checking accounts, Fed Governor Donald Kohn said in testimony before Congress on 6 March. "Unnecessary restrictions on the payment of interest on demand deposits at depository institutions and on balances held at…
Parry on prospects for local and national economy
SPEECH - In the speech 'Prospects for the National and Local Economies: A Monetary Policymaker's View' Robert Parry of the Federal Reserve Bank of San Francisco said "If it were called for we still have room to give a boost to the economy, even in the…
Guynn on the road to recovery
SPEECH - In the speech 'The Road to Recovery and an Atlanta Perspective' Jack Guynn of the Federal Reserve Bank of Atlanta said that this recovery was different from previous ones. The big difference in this recovery, Guynn said, is that there has been…
Federal Reserve Board - Beige Book, March 2003
REPORT - The Federal Reserve Beige Book released 5 March said the U.S. economy "remained subdued" in the past two months as the prospect of war with Iraq constrained consumer and business spending, the Federal Reserve said in its latest survey of…
ECB refinancing, 6 Mar
PRESS RELEASE - Monetary policy decisions. The minimum bid rate on the main refinancing operations will be reduced by 0.25 percentage point to 2.50%, starting from the operation to be settled on 12 March 2003.
Trichet favours Bank of France re-organisation
A report says Jean-Claude Trichet favours a re-organisation of the Bank of France by departments, as opposed to regions.
Kenya's ex-central bank chief hits back at critics
On Wednesday CentralBankNet reported the resignation, and prompt replacement, of Kenyan central bank chief Nahashon Nyagah over the Euro Bank affair. Now a report quotes Nyagah as denouncing what he called, the "orchestrated" campaign to oust him.
Danes lower rates
PRESS RELEASE - Interest rate reduction, 6 March. The Danish central bank lowered its key interest rate 0.25% in response to the ECB's cut.
New Zealand holds rates
PRESS RELEASE - The Reserve Bank has decided to leave the Official Cash Rate at 5.75 per cent, 6 March.
Fed's beige book - growth 'subdued' in early 2003
The Federal Reserve Beige Book released Wednesday showed that growth remained subdued in January and February. The evidence contained in the report forms a major part of the Fed's decision making process on the interest rate setting FOMC.
Edey on economic performance and issues in 2003
SPEECH - In the speech 'Economic Performance and Issues in 2003' Malcolm Edey of the Reserve Bank of Australia said the international environment is quite an uncertain one, and the outlook now is not as promising as it seemed to be at this time last year…
Issing on monetary policy strategies
SPEECH - In the speech 'Considerations on monetary policy strategies for accession countries' Otmar Issing of the European Central Bank said central banks in accession countries can do a lot to facilitate a smooth and sustainable accession process. Their…
Kohn on the strength in consumer durables
SPEECH - In the speech 'The Strength in Consumer Durables and Housing: Policy Stabilization or Problem in the Making?' Donald Kohn of the Federal Reserve said it seems likely that as the economy strengthens and interest rates rise in response, household…
Dissent inside the Eurotower
ARTICLE - This article suggests that even if the ECB cuts interest rates on Thursday, the move will do little to satisfy critics pressing for a reappraisal of the bank's policymaking framework. The article suggests tensions between key ECB officials…
Norges Bank Press Release, 5 Mar
PRESS RELEASE - Norges Bank has decided to reduce the interest rate on banks' deposits with Norges Bank, the sight deposit rate, by 0.50 percentage point with effect from 6 March. The interest rate on banks' overnight loans will also be reduced by 0.50…
Bank of Japan Press Release, 5 Mar
PRESS RELEASE - Decision from the Bank of Japan Monetary Policy Meeting, 5 March.
Kenya president appoints new central bank governor
President Kibaki of Kenya has officially received and accepted the resignation of Nahashon Nyagah as the governor of Central Bank of Kenya (CBK). Dr Andrew Mulei has been appointed as his replacement. The CBK confirmed to CentralBankNet that Dr Mulei's…