Monetary Policy
Buba's Welteke sees no '01 recession in Germany
GERMANY - Germany's economy is not in a recession and will grow at a small rate "above zero" in 2001, Deutsche Bundesbank President Ernst Welteke told German daily Frankfurter Rundschau in an interview conducted 22 October, but published on Friday.
Hungary's nat bank launch euro info campaign
HUNGARY - The National Bank of Hungary will launch an information campaign on 15 November to help Hungarian individuals to smoothly change their cash holdings in the 12 outgoing European currencies, estimated to be worth some HUF 70bn,NBH vice president…
DUMA won't deprive Russia's c bank of independence
RUSSIA - During a meeting of the working group of the Duma for the bill on the Central Bank on 12 November, deputies failed to come to agreement as to which body, the National Banking Council (NBC) or the Board of Directors, would govern the Central bank.
Central bankers in Ottawa
ECB Council member Ernst Welteke, although saying that monetary policy was appropriate for the eurozone at present, warned of the dangers of money being too loose given the lag for effects to be realised.
November gloom in Japan
Despite leaving monetary policy on hold last week, the Bank of Japan downgraded its assessment of the economy on Monday, expressing concern about the impact of declining exports and output on incomes and consumer spending.
Speech by Ernst Welteke, Bundesbank President
SPEECH - Speech by Ernst Welteke, President of the Deutsche Bundesbank, delivered at the European American Business Council, Washington, 19 November. Ernst Welteke expressed satisfaction with ECB policy, noting that the eurozone is now enjoying an …
Speech by Jurgen Stark of the Deutsche Bundesbank
SPEECH - Speech by Dr. Jurgen Stark, Deputy Governor of the Deutsche Bundesbank. The speech titled 'The euro - the new European money' considers the historical background to the euro, essential features of the new system and the future outlook for the…
Bank of Canada Review Autumn 2001
RESEARCH - Conference Summary: Revisiting the Case for Flexible Exchange Ratesby Larry Schembri. Short summary.
Speech by Horst Kohler, Managing Director, IMF
SPEECH - Statement by IMF Managing Director, Horst Kohler, given at the Fourth WTO Ministerial Conference, Doha, 10 November.
Brussels more confident of successful euro switch
EUROPE - With euro notes and coins less than 50 days away, the European Commission yesterday expressed optimism about a successful changeover from national currencies. The latest monthly Eurobarometer survey registered growing understanding of the single…
Germany may recover soon from economic shock
GERMANY - A German survey yesterday provided the first sign that the shock to economic confidence in the eurozone after the 11 September attacks in the US might be short-lived.
O'Neill: IMF forecast "off by a lot"
US - Responding to the drastically revised growth forecasts for the US in 2002 US Treasury secretary disagreed saying the forecast was "off by a lot".
Japan leaves rates unchanged
JAPAN - As expected, the Bank of Japan made no change to its monetary policy today, following its two-day meeting.
Speech by Roger Ferguson of the Federal Reserve
SPEECH - Remarks by Federal Reserve Board Vice Chairman Roger W. Ferguson, Jr at the American Institute of Certified Public Accountants National Conference on Banks and Savings Institutions, Washington, D.C., 8 November.
The Resolution of International Financial Crises
RESEARCH - Joint paper from the Bank of England and the Bank of Canada. By Andy Haldane of the International Finance Division, Bank of England and Mark Kruger of the International Department, Bank of Canada, November 2001.
The work of setting interest rates
FEATURE ARTICLE - By Svein Gjedrem, Governor of Norges Bank, the central bank of Norway, in Finansavisen, 9 November.
Bank of England Inflation Report November 2001
REPORT - The Bank of England has published its inflation report for November 2001.
Argentina needs effective not unthinking support
ARTICLE - Ever since the emerging market financial crises of the 1990s, many in the international financial community have expressed deep scepticism about large financial assistance packages for countries in distress.
Britons still hold £540m in eurozone currencies
UK - Britons are hoarding more than £540m-worth of eurozone currencies, but only half the population realises the cash will be impossible to spend after February.
Russia c bank tightens banks' gold export controls
UK - The Central Bank of Russia published a directive Thursday obliging commercial banks to submit information on their export of gold ingots to the State Customs Committee within 10 days of the metal leaving the country.
ECB Issing sees euro-zone recovery, CPI fall in 02
GERMANY - European Central Bank chief economist Otmar Issing Monday reiterated his expectation that the euro-zone economy will recover next year.
Fed's Ferguson - US economy resilient
US - The U.S. economy appears to be shaking off the devastating impact of the 11 September attacks, says a key member of the U.S. Federal Reserve.
Bank of Japan under pressure
JAPAN - The Bank of Japan was again under pressure from politicians as its two-day policy meeting began today. Worsening economic figures, despite cuts in the lending rate and injections of liquidity by the bank, have led to calls for inflation targeting.
Euro preparations are "catching up":Duisenberg
Belgium - Wim Duisenberg, the European Central Bank president, speaking at the European Union's Committee of the Regions yesterday said that small and medium-sized enterprises (SMEs) were "rapidly catching up" in time for Euro-day when notes and coins…