Monetary Policy
Man threatens to fly plane into ECB headquarters
A man stole a plane at gunpoint and flew it amid Frankfurt's skyscrapers on Sunday, threatening to crash it into the headquarters of the European Central Bank.
Bank of France's Trichet begins fraud trial
Bank of France governor Jean-Claude Trichet, tipped as the next president of the European Central Bank, was due to stand trial over a decade-old banking scandal on Monday. He denies all charges.
Bank of Japan: Losing independence?
ARTICLE - This article looks at the recent initiatives by the Bank of Japan but says the BOJ's independence may be slipping as Prime Minister Junichiro Koizumi and members of his economic team want a greater say in BOJ policy-making.
Minutes from the Sveriges Riksbank Board meeting
MINUTES - Minutes of the Sveriges Riksbank Executive Board meeting on 4 December, published 19 December. The Executive Board decided to lower the repo rate by 0.25 per cent, although second deputy governor Eva Srejber entered a reservation against the…
Call for Bank of Japan to adopt inflation target
The Japanese government will urge the Bank of Japan to adopt an inflation target, an influential member of the ruling Liberal Democratic party said Sunday. The comments follow those of Chief Cabinet Secretary Yasuo Fukuda who said last week that an…
Dai Xianglong leaves People's Bank of China
China has replaced its longtime central bank governor, putting a former stock market regulator in charge as it prepares to open its banking industry to foreign competition.
Yugoslav, Greek national banks sign agreement
National Bank of Yugoslavia (NBY) and National Bank of Greece governors Mladjan Dinkic and Nicholas Garganas on 27 December signed an agreement on bilateral cooperation, including data exchange on business operations and bank control.
Ukraine's new central banker praises predecessor
Serhiy Tyhypko, Ukraine's new central bank chief submitted a request on quitting parliament to the parliamentary speaker on 26 December as he was elected governor of the National Bank of Ukraine. Tyhypko praised highly the achievements of the previous…
Mfula appointed Bank Of Zambia deputy governor
President Mwanawasa has appointed Bank of Zambia (BoZ) regional director, Felix Mfula as deputy Governor (administration) for the central bank. Mr Mfula's appointment comes into effect immediately.
Broaddus on monetary policy with low inflation
SPEECH - In the speech 'Comments on Monetary Policy in a Low Inflation Environment' J. Alfred Broaddus of the Federal Reserve Bank of Richmond said much of the progress in monetary policy over the last two decades is due to exceptionally strong…
CentralBankNet Monday Special Feature
SPECIAL FEATURE - In this weeks special feature, the last for this year, we look back at some of the important stories from 2002 and some you may have missed. From the introduction of euro notes and coins in January to the appointment of new central bank…
Bies on credit availability for small businesses
SPEECH - In the speech 'Credit Availability for Small Business' Susan Bies of the Federal Reserve emphasised the importance of small businesses to the Federal Reserve saying that they are critical to the strength and vigor of the U.S. economy.
Bye bye, Buba
ARTICLE - This article says the ECB should scrap money supply targeting, its "first pillar" and reduce it to the role of an indicator. It also promotes a looser inflation target, with a change to a symmetrical rate perhaps as high as 3 per cent with 1…
Welteke on a framework for monetary stability
SPEECH - In the speech 'An institutional framework for monetary stability' Ernst Welteke of the Deutsche Bundesbank said that even today there is no automatic means of ensuring stable money and stable markets. It is an ongoing task and it is the task of…
Fed's Poole: US to avoid deflation
William Poole, president of the Federal Reserve Bank of St. Louis, said on Friday that policymakers must be wary about deflation, but said there were ample reasons why the United States will avoid the errors that Japan made.
Croatian central bank council adopts projection
The Croatian National Bank (HNB) Council, chaired by governor Zeljko Rohatinski, on Wednesday adopted HNB's monetary policy projection and financial plan for 2003.
Egypt's central bank chief - rates may fall again
Mahmoud Abul Oyoun, Governor of the Central Bank of Egypt (CBE) said it is likely that a new cut in the banking interest rate will be effective if the market needs this.
GCC bank plan to be taken up at forum
A proposal to set up a transnational bank with all GCC states as shareholders will be submitted to the UAE Central Bank.
Speculation rife on Hayami replacement
ARTICLE - A furor of speculation is blowing through Tokyo as Prime Minister Junichiro Koizumi prepares to appoint a successor to BOJ Gov. Masaru Hayami, whose 5-year term expires in March.
BOJ Hayami central bank can't buy all JGB issues
Bank of Japan Governor Masaru Hayami reiterated Friday that the central bank will do its utmost to help the economy recover, but rejected such steps as radically increasing the amount of Japanese government bonds it buys or purchasing new types of assets.
Nickell on house prices and household debt
SPEECH - In the speech 'House Prices, Household Debt and Monetary Policy' Stephen Nickell of the Bank of England said an interest rate reduction at present would affect house prices, household borrowing and consumption, which are already increasing…
Remsperger- Monetary stability Institutions matter
SPEECH - In the speech 'Monetary stability: Institutions matter' Hermann Remsperger of the Deutsche Bundesbank said the two-pillar approach of the ECB provides an excellent analytical framework. Not only allowing the ECB to integrate asset prices as an…
South African Reserve Bank Press Release
PRESS RELEASE - New deputy governor appointed at South African Reserve Bank, 19 December.
Former Kenyan governor is accused of being racist
Kenya's former central bank governor Micah Cheserem was on Wednesday accused of making racist remarks. Businessman Kamlesh Pattni's lawyer alleged that Mr Cheserem told the parliamentary Public Accounts Committee that "Indians have ruined Kenya's economy…