Monetary Policy
Friedman named as Bush's chief economic adviser
The White House on Thursday announced Stephen Friedman, the former chairman of Goldman Sachs, as chief economic adviser to president George W. Bush. He replaces Larry Lindsey who was a former Federal Reserve governor.
Britain doing well without the euro
LETTER - A letter from the Director of the Centre for Policy Studies rejecting the idea that Britain must join the euro, asks if an improvement in Britain's wealth relative to her main European competitors may have something to do with Britains exclusion…
Bank of Japan optimistic in Tankan report
The business outlook among Japanese companies improved in the October-December quarter, although that sentiment is not expected to last in months ahead, according to a central bank survey released Friday by the Bank of Japan.
Wim Duisenberg reflects on the euro's 1st birthday
INTERVIEW - It's now been nearly a year since the Jan. 1 introduction of the euro. In an interview with Deutsche Welle Radio on Friday, the president of the European Central Bank takes stock of the euro's success.
No need to raise bank insurance cap - Fed's Olson
Federal Reserve Governor Mark Olson on Friday reiterated the U.S. central bank's opposition to raising the current $100,000 cap on insured bank deposits, saying such a move is not needed.
The high cost of resisting the euro
ARTICLE - In an article the chief economist of the pro euro lobby group, Britain in Europe, says Britain is paying a rising price for excluding itself from the euro.
Minutes show Fed worried over deflation
The Federal Reserve cut interest rates last month as extra insurance against deflation and the chance that the economy's stumble this summer could become something worse, according to Fed meeting minutes released on Thursday.
Bank of England Financial Stability Review, Dec 02
REPORT - The Bank of England published its Financial Stability Review for December 2002, Issue 13, on 12 December. It contains the Bank's regular half-yearly assessment of risks to financial stability, together with a number of articles including " The…
ECB Monthly Bulletin, December 2002
REPORT - The European Central Bank published its December 2002 Monthly Bulletin on 12 December. In the report the ECB says the decision of its Governing Council to reduce interest rates last week reflected their assessment that the evidence has increased…
Spillenkothen on the lessons of Enron
SPEECH - In testimony 'Oversight of investment banks' response to the lessons of Enron' Richard Spillenkothen, Director, Division of Banking Supervision and Regulation said the fallout from the recent round of excesses and large corporate defaults…
Bank of Brazil, Focus Report
REPORT - Focus Report on Consumer Price Inflation in November, 11 December.
Central Banker, Winter 2002
REPORT - The Winter 2002 edition of the St. Louis Fed's Central Banker magazine has been published. This edition includes articles on the new senior vice president in the Banking Supervision and Regulation Division at the St Louis Fed, Julie Stackhouse…
GCC central bank idea to figure in Dubai talks
The proposal to create a central bank representing all the Gulf Cooperation Council states will top the agenda of a major "GCC Banking Forum" to be organized in Dubai by the six Gulf states on 12 January 2003. The event will also address other key issues…
Iraqi central bank to hold conference
The 2nd banking conference organised by Central Bank Of Iraq will begin on Saturday and run for two days.
ECB cuts growth outlook, with ongoing uncertainty
The European Central Bank Thursday slashed its forecasts for growth in coming years, citing the "persistently high degree of uncertainty" as the main reason. The publication of the ECB's monthly report reveals more on the motivation for its recent half…
BOJ buys Y71bn worth of stocks from banks
The Bank of Japan (BOJ) had purchased 71.16 billion yen worth of stocks held by commercial banks as of Tuesday 10 December on a delivery-completed basis, the central bank said in a report released Thursday.
Brazil appoints new central bank chief
Brazil's President-elect Luiz Inacio Lula da Silva has appointed former FleetBoston executive Henrique Meirelles to head the nation's central bank, ending weeks of intense speculation.
Ukraine parl't fail to sack c banker amid fighting
Ukrainian Supreme Council (parliament) chairman Volodymyr Lytvyn closed the parliamentary sitting on Thursday because of scuffles in the session hall. Members of parliament were due to vote on the president's request to agree to the dismissal of…
Issing on monetary policy in world of uncertainty
SPEECH - In the speech 'Issing on monetary policy in a world of uncertainty' Otmar Issing of the ECB said that central bankers have to make decisions in a world of uncertainty. But, while the academic profession has made tremendous progress in analysing…
Edward George at European Finance Convention
SPEECH - In a speech to the 16th European Finance Convention Edward George of the Bank of England welcomed the idea of the increasing evolution of the European Union, but with a more "gradual and incremental" approach to integration. He cautioned that…
Federal Reserve Press Release
PRESS RELEASE - The Federal Open Market Committee decided today to keep its target for the federal funds rate unchanged at 1-1/4 percent, 10 December.
Federal Reserve leaves interest rates unchanged
As expected the Federal Reserve left interest rates unchanged on Tuesday at the FOMC's last meeting of 2002. The press release said the risks are balanced with respect to the prospects for both goals (price stability and sustainable economic growth) for…
Concluding Statement of the IMF Mission to Norway
REPORT - Each year, the International Monetary Fund (IMF) assesses the Norwegian economy. During the last few days, a delegation from the IMF has visited Norway to gather information about the economic and financial situation and to discuss economic…
Norges Bank Press Release
PRESS RELEASE - Norges Bank reduces interest rates, 11 December.