Monetary Policy
Japan's Takanaka says inflation defeat difficult
Japan's Economy Minister Heizo Takenaka kept up the pressure on the Bank of Japan Thursday to further ease monetary policy. But, as we have previously reported, the Bank is keen to add further stimulation with board member Hidehiko Haru saying last week…
Central Bank of Russia boosts assets 24%
The Central Bank of Russia boosted assets 23.8% in the first ten months of 2002 from 1.713 trillion to 2.120 trillion rubles, including a rise of 2.8% in October, the Central Bank balance sheet shows.
Hayami - Monetary policy a kind of targeting
Bank of Japan Governor Masaru Hayami Thursday dismissed calls for the BOJ to set a target for inflation, saying the central bank didn't have the tools to make such a target credible. A senior politician Taku Yamasaki, said on Wednesday, 'at the very…
China's central bank pledges to keep dollar peg
China's central bank governor has vowed to keep the yuan pegged to the U.S. dollar even as surging foreign investment and a widening trade surplus boost demand for the Chinese currency.
Moderate may head Brazil's central bank
The debate over who will take charge of Brazil's central bank continues as we hear that a moderate economist is going to be appointed by the incoming leftist government to head the Banco Do Brasil, a Brazilian newspaper reported Wednesday. The outgoing…
ECB Press Release
PRESS RELEASE - Review of the quantitative reference value for monetary growth, 5 December.
Monitoring the European Central Bank - Update
RESEARCH - Surviving the Slowdown, Monitoring the European Central Bank Update No. 4, December 2002, authors include David Begg and Paul De Grauwe. MECB 4 describes the challenge for monetary policy and assesses the ECB response. Interest rates fell much…
ECB rate cutting far too slow says report
ECB watcher David Begg had some harsh words to say on the ECB's recent performance, but offered a little sympathy for a central bank that is not allowed to take the credit when it deserves it.
Stevens on Inflation, Deflation and All That
SPEECH - In the speech 'Inflation, Deflation and All That' Glenn Stevens of the Reserve Bank of Australia said the word 'deflation' carries too much emotive baggage and a 'deflation trap' would pose a bigger concern. Australia would be one of the last…
Ferguson on Economic Progress and Small Business
SPEECH - In the speech 'Economic Progress and Small Business' Roger Ferguson of the Federal Reserve focused on economic status of minority Americans. He then turned to the role of small businesses in the US economy, drawing on research on small business…
Welteke on EMU - Experience and Outlook
SPEECH - In the speech 'European Monetary Union - Experience and Outlook' Ernst Welteke of the Deutsche Bundesbank said that in principle, all the Maastricht criteria, including the exchange rate criterion, have to be met before a country can join the…
RBA leaves rates unchanged as expected
The Reserve Bank of Australia (RBA) left interest rates unchanged Wednesday as the shaky global outlook overshadowed a reactively strong domestic economy. After its final meeting for 2002 the RBA left the cash rate at 4.75 per cent.
Economic Perspectives, Fourth Quarter 2002
REPORT - The Federal Reserve Bank of Chicago has published its regular quarterly journal of in-depth articles reporting on the Bank's economic research for the Fourth Quarter 2002. This edition includes an article 'Sorting out Japan's financial crisis'.
HKMA Quarterly Bulletin, November 2002
REPORT - The Hong Kong Monetary Fund has published its Quarterly Bulletin for November 2002. The issue includes feature articles on 'The impact of China's accession to the World Trade Organisation on Asia', 'Preserving monetary stability in the face of…
ECB's Duisenberg wins award after euro launch
An awards ceremony Tuesday gave ECB president Wim Duisenberg the title of "Business Leader of the Year" after the successful launch of the euro. There was also a somewhat tongue in cheek prize for Romano Prodi.
Afghan notes switch proceeding despite problems
ARTICLE - The switchover of bank notes in Afghanistan continues as the war ravaged country attempts to stabilise the weak economy. Deputy central bank governor Isa Turab described the operation as "proceeding well despite logistical problems".
China central banker vows to tackle deflation
China's central bank chief vowed on Wednesday to focus on preventing deflation, a persistent economic scourge which some fear could spread to other Asian nations and undermine regional growth.
Potential to boost trade between Islamic states
A conference on Islamic banking and finance by the World Bank, is set to take place in Bahrain on 2 and 3 March 2003. The line-up of speakers includes three central bank governors and top officials from various regulatory authorities.
HKMA set for reshuffle as top executives leave
The Hong Kong Monetary Authority faces a management reshuffle with two deputy chief executives leaving next month and a third reportedly ready to go in March, officials said Wednesday. In a press release, which confirmed one of those to leave, Joseph Yam…
Hong Kong Monetary Authority Press Release
PRESS RELEASE - Departure of Mr Tony Latter and Mrs Marian Li, 3 December.
'Tis the season to read Bollard- between the lines
ARTICLE - CentralBankNet hears that the recently appointed governor of the Reserve Bank of New Zealand, Alan Bollard, has taken it upon himself to design the Bank's christmas card. He used to do this when he worked at the Treasury and speculation has…
Duisenberg on economic and monetary developments
TESTIMONY - In testimony before the European Parliament Wim Duisenberg of the ECB welcomed new proposals by the EU to reform the euro zones much criticised Stability and Growth Pact telling the economic and monetary affairs committee that the proposals…
BOJ Suda - Need to watch impact of loan clean-up
As the Bank of Japan begins its stock purchase scheme Miyako Suda said in a speech that how bad loans are dispersed and the impact on the economy must be watched carefully.
Central Bank of Brazil COPOM Minutes
MINUTES - The Banco Central Do Brasil has published the minutes of the 78th meeting of the Monetary Policy Committee (COPOM), 19 and 20 November. The Committee decided unanimously to increase the Selic rate to 22% in light of increased inflation…