Monetary Policy
Chicago Fed Letter, September 2002
PUBLICATION - The September 2002 issue of Chicago Fed Letter looks at how inequality is perpetuated over generations and how financial constraints among low income families may contribute to this cycle.
ECB Working Paper Series
RESEARCH - 'Constructing quality-adjusted price indices: a comparison of hedonic and discrete choice models' by Nicole Jonker, September 2002. The Boskin Report (1996) concluded that the US consumer price index (CPI)overestimated the inflation by 1.1…
HM Treasury Press Release
PRESS RELEASE - Appointment of Bank of England Deputy Governor Financial Stability, 3 September. The Queen has been pleased to appoint, under the Bank of England Act 1998, Sir Andrew Large as Deputy Governor (Financial Stability) of the Bank of England…
HM Treasury Press Release
PRESS RELEASE - Sir Andrew Large's biography, 3 September.
HKMA Quarterly Bulletin, August 2002
REPORT - The Hong Kong Monetary Authority has published its Quarterly Bulletin for August 2002. The report contains an article Hong Kong's Currency Board Today: The Unexpected Challenge of Deflation.
Bank of Canada Press Release
PRESS RELEASE - Bank of Canada keeps target for the overnight rate at 2 3/4 per cent, 4 September.
Reserve Bank of Australia News Release
NEWS RELEASE - At its meeting on 3 September the RBA Board decided to leave the cash rate target unchanged at 4.75 per cent, 4 September.
Gov't lifts demand deposit freeze - Argentina
ARGENTINA - Argentina's government will begin to lift the freeze on demand deposits to facilitate transactions in the depressed economy, local broadsheet La Nacion reported.
China, Macao agree to provide $ deposit exchange
CHINA - The Bank of China and the Monetary Authority of Macao (MAM) signed a cooperative agreement on Wednesday to provide Macao dollar deposit and exchange services.
New currency for Afghanistan
AFGHANISTAN - Afghan President Hamid Karzai on Wednesday said his government would replace its troubled afghani currency with new banknotes in a bid to bring stability to volatile exchange markets.
Australia leaves rates on hold as economy eases
AUSTRALIA - Australia's central bank left rates on hold for the third straight month Wednesday, a day after the release of June quarter figures showing lower than expected economic growth.
Row rattles Venezuela's economic recovery effort
VENEZUELA - A bitter row among Venezuela's top economic policy makers on Tuesday threatened to scuttle attempts to revive the nation's flagging economy just weeks before a senior minister heads to the United States to rally financial backing.
Bank of England names new Deputy Governor
UK - Weeks of speculation ended on Tuesday as the UK chancellor, Gordon Brown, named Sir Andrew Large, a former merchant banker and City regulator, as deputy governor of the Bank of England.
Speech by Otmar Issing of the ECB, 30 Aug
SPEECH - In the speech titled 'Monetary policy in a changing economic environment' Issing said that asset prices do not make a suitable monetary policy objective. "Asset prices, by themselves, are not a suitable goal for monetary policy. In the long run…
Speech by David Dodge of Bank of Canada, 31 Aug
SPEECH - In the speech titled 'Macroeconomic Stabilization Policy in Canada' Dodge said that clear monetary and fiscal objectives, combined with clear accountability for meeting those objectives, provide the background for policy co-operation and…
Lavagna keen on replacing central bank chief
ARGENTINA - Argentina's economy minister Roberto Lavagna has not given up his hopes of replacing central bank chairman Aldo Pignanelli with a trusted lieutenant, local daily newspaper Clarin reported on Tuesday.
Taiwan central bank says domestic loans decreasing
TAIWAN - The aggregated loans provided by banking institutions for domestic enterprises totalled 11,355bn NT New Taiwan dollars at the end of July, according to statistics released by the Central Bank of China (CBA) 31 August.
Nat Bank of Belarus approves single currency idea
BELARUS - The board of the National Bank of Belarus has approved the bank's blueprint for implementing an existing agreement with Russia on "creating conditions" to turn the Russian rouble into the single currency of the proclaimed union state of Belarus…
Saddam Hussein meets with Iraq's central bank head
IRAQ - President Saddam Hussein on Monday chaired a meeting with senior Iraqi officials including the Governor of the Iraqi Central Bank Usam Rashid Howeish.
Nikkei ends Tuesday at 18-year low
JAPAN - Tokyo's Nikkei average plunged to an 18-year low by Tuesday's close after banks and other major blue-chip issues took a beating on worries over the dimming economic outlook in Japan and the United States.
Uganda's Mutebile shuffles central bank staff
UGANDA - The governor of the Bank of Uganda Emmanuel Tumisiime Mutebile has made changes to the staff at the central bank.
Market functioning and central bank policy
RESEARCH - BIS Papers No. 12, August 2002. The papers in this volume were presented and discussed at the Autumn Central Bank Economists' Meeting held at the BIS on 15-16 October 2001. The meeting focused on recent changes in market functioning and their…
Speech by R. Basant Roi, Bank of Mauritius, 9 Aug
SPEECH - In the speech titled 'A central banker's piece of advice to bankers' Basant Roi quotes 7 paragraphs from a letter, 140 years old. The letter, he says, provides invaluable advice to bankers.
Reserve Bank of India - Annual Report 2001 - 2002
ANNUAL REPORT - The Reserve Bank of India has published its Annual Report for the year ended 2001 - 2002. The Annual Report released 30 August 2002 shows that policies for macroeconomic management in 2001-02 were geared to initiate and nurture the…