Monetary Policy

Brown rejects switching inflation target

In a keynote speech to the International Monetary Fund's international monetary and financialcommittee, attended by 24 finance ministers, UK Chancellor, Gordon Brown, rejected calls for the UK to adopt a 2% inflation target to fit in with the euro-area

Germany cuts growth forecast

GERMANY - The German government has joined its European neighbours by slashing its growth forecasts. Economic expansion in Europe's largest economy is expected to be only 2% in 2001, 0.75% less than previously forecast.

International Economic Review article

RESEARCH - Jon Faust and Lars E. O. Svensson of the Board of Governors of the Federal Reserve, writing in the International Economic Review, define and study transparency, credibility, and reputation in a model where the central bank's characteristics…

US is wrong to browbeat the ECB into cutting rates

GERMANY - America is wrong to try to browbeat the European Central Bank into cutting interest rates "I hear but I do not listen," remains the response of Wim Duisenberg, president of the European Central Bank, to the clamour for lower interest rates.

Thai Central Bank Cuts Forecast As Exports weaken

THAILAND - The Bank of Thailand (BOT) has slashed down this year's economic growth projections to 2.5-4 percent, from 3-4.5 percent, due to the weakening exports in light of the U.S. and Japanese slowdown, according to local T.V. news reports on Apr 27.

Euro rates held steady

EUROPE - The European Central Bank has decided to leave interest rates unchanged after a scheduled board meeting in Frankfurt on Apr 26.

Economic outlook bleak for Japan

JAPAN - The Bank of Japan has painted a bleak economic picture of weak growth combined with intensifying deflation in its half-yearly report. But a 1.6% rise in retail sales in March from a year earlier provided a ray of hope for new Prime Minister…

Optimal horizons for inflation targeting

ARTICLE - This paper investigates the problem of selecting an optimal horizon for inflation targeting in the United Kingdom. It was written by Nicoletta Batini and Edward Nelson of the Monetary Policy Committee Unit, Bank of England.

Maccarone likely to replace Pou

ARGENTINA - A congress committee has recommended that Argentine president Fernando de la Rua fires Pedro Pou, president of Argentina's central bank. Banker Roque Maccarone is tipped as his replacement.

Monitoring the European Central Bank 3

BOOK - The Centre for Economic and Policy Research has published the third in its series of books monitoring the European Central Bank titled "Defining a Macroeconomic Framework for the Euro Area". It is co-authored by Alberto Alesina, Olivier Blanchard,…

International monetary policy cooperation

CENTRAL BANK RESEARCH - Giancarlo Corsetti and Paolo Pesenti at the New York Fed have written a staff report titled "International Dimensions of Optimal Monetary Policy". This article finds that the gains to be made from international monetary…

Overbidding problem in the ECB fixed rate auctions

ARTICLE - Dieter Nautz from Goethe University and Jorg Oechssler from Bonn University have written a paper "The repo auctions of the European Central Bank and the vanishing quota puzzle". The article examines the overbidding problem faced by the ECB in…

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.