Monetary Policy
GCC single currency 'need not be pegged to dollar'
The GCC single currency to be launched in 2010 will be pegged to only one currency - but it may not necessarily be the U.S. dollar, Sultan bin Nasser Al Suwaidi, UAE Central Bank governor said Sunday.
IMF says ECB shows mediocre market predictability
The International Monetary Fund has criticised the European Central Bank for confusing markets and said it was less predictable than its central bank peers, the U.S. Federal Reserve and the Bank of England.
ECB's Fazio thinks Iraq crisis will hurt recovery
European Central Bank council member Antonio Fazio said a war with Iraq, as well as increasing the chance of terrorist attacks, may hamper an economic recovery.
Bank of Japan Monthly Report, January 2003
REPORT - The Bank of Japan published its Monthly Report of Recent Economic and Financial Developments, January 2003, on 24 January. In its report the Bank maintained its assessment of the economy for the second straight month but warned of risks from…
Gjedrem on role and effects of monetary policy
SPEECH - In the speech 'Perspectives on the role and effects of monetary policy' Svein Gjedrem of Norges Bank said commodity-exporting countries tend to experience wide fluctuations in their exchange rate. Norway must be prepared, he said, for…
Bollard on making sense of a rising exchange rate
SPEECH - In the speech 'Making sense of a rising exchange rate' Alan Bollard of the Reserve Bank of New Zealand said however much we can understand, after the event, what has driven the exchange rate, neither economists and central bankers (nor anyone…
Deutsche Bundesbank Monthly Report, December 2002
REPORT - The Bundesbank said in its December 2002 monthly report that in the summer months, output showed only a slight increase but in terms of domestic demand, households' consumption picked up in particular. The retail trade benefited very little from…
Bank of Canada Monetary Policy Report Update
REPORT - The Bank of Canada on Thursday released its Update to the October Monetary Policy Report. These reports discuss economic and financial trends in the context of Canada's inflation-control strategy.
Dodge on the Monetary Policy Report Update
SPEECH - In his opening statement on the release of the Bank of Canada's Monetary Policy Report Update David Dodge suggested Canadian interest rates would need to rise to return inflation to the 2 per cent target over the medium term.
Fed's McTeer says new recession unlikely
Dallas Federal Reserve Bank President Robert McTeer said on Thursday the U.S. economy was unlikely to fall back into recession, saying the stage for continued growth is "set reasonably well."
Hayami, Japan's inflation target a reckless gamble
Japan's central bank governor Masaru Hayami said Friday the setting of an inflation target for Japan in an attempt to stop the long slide in prices would be a "reckless gamble". The comment comes at a time when the BOJ has faced pressure from some…
Central banks sign cooperation agreement
Greece's central bank governor, Nikos Garganas, and his Romanian counterpart, Constantin Isarescu, were due to sign in Bucharest Friday a memorandum of cooperation in the two countries' exercise of supervision competences over commercial banks operating…
Canada's Dodge warns of rising inflation
Bank of Canada governor David Dodge warned Thursday that inflation pressures are greater than expected and that the inflation rate could hit an 11-year high of 4.5 per cent this winter.
Belarus to adopt rouble for non-cash settlements
Belarus is going to adopt the Russian rouble for non-cash settlements from 1 July 2003 the chairman of the Belarusian central bank, Pyotr Prakapovich said.
UK's pro-euro campaigners face tough task-report
A new report published by the Foreign Policy Centre suggests strong public backing for euro membership is unlikely to emerge for the foreseeable future unless there is a vigorous campaign for entry.
Reserve Bank of New Zealand Press Release
PRESS RELEASE - OCR unchanged at 5.75 per cent, 23 January.
Persson on Sweden and the euro
SPEECH - In the speech 'Sweden and the Euro' Kristina Persson of the Sveriges Riksbank said monetary union presents an attractive proposition for Sweden, given that we continue to improve the functioning of wage formation and labour markets and that we…
ECB Monthly Bulletin, January 2003
REPORT - The European Central Bank published its January 2003 Monthly Bulletin on 23 January. In the bulletin the ECB reported that the outlook for economic activity in the euro area has remained broadly unchanged since early December 2002 and economic…
BIS Press Release
PRESS RELEASE - Roger W Ferguson Jr appointed Chairman of the Committee on the Global Financial System, 23 January.
Deutsche Bundesbank Monthly Report, November 2002
REPORT - The Bundesbank said in its monthly report that at present, economic activity is still too weak to relieve the labour market. What is mainly lacking at present, the report says, is some kind of positive outlook which, as experience shows, is…
RBNZ Bollard says rates may fall as currency rises
New Zealand's central bank chief Alan Bollard said on Thursday he may cut interest rates this year because a rising New Zealand dollar is slowing consumer spending and inflation.
BOJ maintains static view of economy
The Bank of Japan has maintained its assessment of the economy for the second straight month in January but warned of risks from weak private consumption as well as flat exports and output.
Takenaka says govt, BOJ should share policy goal
Japanese Economics and Financial Services Minister Heizo Takenaka on Thursday called on the Bank of Japan to foster more growth in money supply and said the government and central bank should share a policy goal.
Brazil raises interest rates in surprise move
Brazil's central bank surprised financial markets yesterday with an increase of its prime lending rate by 0.5 percentage points to 25.5 per cent, showing its intention to implement tough inflation controls. Only two weeks ago central bank chief Henrique…