Monetary Policy
IMF News Brief
NEWS BRIEF - IMF Managing Director Horst Kohler to Visit Mauritania, Algeria and Tunisia during 14-21 October.
Brussels tells new members not to rush into euro
BELGIUM - Brussels may be holding open the door to 10 new European Union members in 2004 but there were warnings yesterday that the candidate countries should not rush to join the euro.
America is not in danger of deflation
ARTICLE - For most of the postwar era, deflation has been off on the radar screen of economic policymakers in the industrialised world. The United States has not experienced a sustained fall in prices since the Great Depression. Fighting inflation, not…
Fraga urges candidates to clarify intentions
BRAZIL - Arminio Fraga, Brazil's central bank chief, on Wednesday called on the two remaining presidential candidates to deepen their commitment to sound economic policies and help calm investor concerns.
Irish central bank accused of acting like Rambo
IRELAND - Insurance brokers have accused the Central Bank of acting as a 'Rambo regulator' which discriminates against smaller brokerage operations.
Anti-deflation drive sparks BOJ fear over autonomy
ARTICLE - The central bank gets the jitters now that finance chief Takenaka takes up its challenge on economy. The Bank of Japan is worried that the government's latest campaign to stamp out deflation and buoy the economy will compromise its autonomy.
Speech by Jack Guynn President Atlanta Fed, 2 Oct
SPEECH - Guynn said in a speech to Columbus Rotary Club titled 'The U.S. Economy: Getting Back on Track' that he'd characterise the U.S. economy as plodding along but moving in the right direction - forward. The economy has basically emerged from…
Speech by Governor, Danmarks Nationalbank, 9 Sep
SPEECH - Speech by Governor Jens Thomsen of Danmarks Nationalbank 'Monetary Policy in the Shadow of a Monetary Union' at the Bank of Ghana on 9 September 2002.
Hong Kong Monetary Authority Press Release
PRESS RELEASE - Hong Kong's Latest Foreign Currency Reserve Assets Figures Released, 7 October.
European Central Bank Court of Auditors Report
REPORT - Report by the Court of Auditors on the audit of the operational efficiency of the management of the European Central Bank for the financial year 2001, together with the replies of the European Central Bank, 7 October.
European Central Bank Public Consultation
CONSULTATION - Measures to improve the efficiency of the operational framework for monetary policy, 7 October. The proposed changes are of a technical nature with euro area credit institutions and banking and financial market associations addressed under…
Heikensten: Financial risks slow down recovery
PRESS RELEASE - First Deputy Governor Lars Heikensten of the Sveriges Riksbank today, 9 October, gave a speech under the heading "Some monetary policy issues" at the Center for Business and Policy Studies' (SNS) annual conference on the economic…
The Sveriges Riksbank Prize in Economic Sciences
PRESS RELEASE - The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2002, winner announced, 9 October.
SARB Monetary Policy Review - October 2002
REPORT - The South African Reserve Bank has published its October Monetary Policy Review. The report reflects on increased inflationary pressures in the South African economy following the depreceiation of the rand in the latter half of 2001.
Two Americans win Nobel Prize in economics
SWEDEN - The 2002 Nobel Memorial Prize for economics has been awarded to a psychology professor and a researcher who developed laboratory tests of economic theory.
Bank of Spain makes pessimistic on economy
SPAIN - Jaime Caruana, governor of the Bank of Spain, yesterday announced the bank's economic predictions. The central bank is expecting growth this year of no more than 2 per cent, two tenths of a percentage point lower than the government's prediction.
Yugoslavia sees monetary stability behind reform
YUGOSLAVIA - Addressing Nis University School of Economy students late on Tuesday, National Bank of Yugoslavia (NBY) Governor Mladjan Dinkic presented the results of his two-year work, stressing that the achieved monetary stability was one of the most…
Polish central bank wants Poland in euro zone 2006
POLAND - The Polish National Bank (NBP) wants Poland to join the euro zone in 2006, but does not rule out that the entry will take a year later, PAP News Agency reported NBP Deputy Governor Andrzej Bratkowski as saying on Tuesday.
Credit cards post huge growth in Thailand
THAILAND - The credit-card market is expected to grow by at least 40% next year, following estimated expansion of about 45% this year, Wanvimol Kanoktanaporn, a senior vice-president at the Bank of Asia, said yesterday.
Turkmen c bank issues gold and silver coins
TURKMENISTAN - The Central Bank of Turkmenistan has issued a set of memorial gold and silver coins, devoted to the parents of Turkmen President Saparmyrat Nyyazow, Turkmen TV first channel reported.
Speech by Fed Chairman Alan Greenspan, 7 Oct
SPEECH - In a speech on 'The continued strength of the U.S. banking system' Greenspan explores the apparent incongruity between this and the recent substantial losses on corporate credits. He sums up on a cautious but positive note: 'Success, indeed…
Speech by M Moskow, President, Chicago Fed, 3 Oct
SPEECH - Moskow said in a speech on 'The Economy and Expanded Trade' that the last 20 years has brought deregulated financial markets, developed more flexible labor markets and made major advances in technology for the U.S. economy. Moskow concluded that…
Testimony of Wim Duisenberg, ECB President, 8 Oct
SPEECH - In testimony before the EU Parliament Duisenberg stressed that structural reforms are required so that the full benefits of the introduction of the euro can be reaped. Given the environment of subdued economic growth, Duisenberg was of the…
Nikkei plunges on Takenaka's remarks
JAPAN - Stocks hit their lowest level since 1983 after Japan's finance minister said no bank is too big to fail. Investors, fearing a wave of corporate bankruptcies under the government's bad-loan solution, drove Tokyo share prices to another 19-year low…