Monetary Policy
Bank of England/NOP Inflation Attitudes Survey
NEWS RELEASE - This news release describes some of the main results of the Bank of England's November 2001 survey of public attitudes to inflation.
ECB Working Paper
RESEARCH - ECB Working Paper titled 'Some stylised facts on the euro area business cycle' by Anna-Maria Agresti and Benoit Mojon, December 2001.
Speech by Bob McTeer of the Dallas Fed Bank
SPEECH - Speech by Bob McTeer, President and CEO, Federal Reserve Bank of Dallas. The speech mentions 'The French Adam Smith' and begins with a look at the theory of the invisible hand. That one persons spending is anothers income and all benefit…
Speech by Jarle Bergo, Dep Governor Norges Bank
SPEECH - Speech by Deputy Central Bank Governor Jarle Bergo of Norges Bank. The speech titled 'Monetary policy in an uncertain world' considers Norway's current inflation policy and looks at the influence monetary policy has on the economy.
BIS Quarterly Review December 2001
REPORT - Bank for International Settlements Quarterly Review December 2001 - International banking and financial market developments.
Book Review: Political Economy of Monetary Union
BOOK REVIEW - The book, edited by Paul De Grauwe, provides a collection of key texts on the theory of monetary unions and optimal currency areas.
ECB Press Conference
PRESS CONFERENCE - ECB press conference on the occasion of the Signing of the Agreement between the European Central Bank and Europol. Willem F. Duisenberg, President of the European Central Bank, Frankfurt, 13 December 2001.
ECB Press Release
PRESS RELEASE - Signing of the agreement between the European Central Bank and Europol, 13 December 2001.
Fed officials were split over rate cut in November
US - Some Federal Reserve officials expressed discomfort last month with the rapid interest-rate cuts promoted by Fed Chairman Alan Greenspan. Others warned against moving too slowly.
IMF Koehler says political unity crucial to euro
US - International Monetary Fund Managing Director Horst Koehler said Friday that "sorting out" to process of political integration in Europe will be key to reviving a persistently weak euro.
Gov't hopes for flexibility in BOJ policy
JAPAN - The government hopes the Bank of Japan will be flexible when deciding monetary policy, minister for economic and fiscal policy Heizo Takenaka said Friday.
First euro coins to be rolled out today
NETHERLANDS - Preparations for the changeover to euro notes and coins take a key psychological step forward today as citizens of France, Ireland and the Netherlands become the first in the eurozone to get their hands on the new euro coins.
Speech by Governor of the National Bank of Belgium
SPEECH - Speech by Guy Quaden, Governor of the National Bank of Belgium in Ottawa, 30 November. In the speech titled 'The Monetary Policy of the European Central Bank and the Economic outlook in the Euro Area' Guy Quaden said that the introduction of…
Speech by Wim Duisenberg, President of the ECB
SPEECH - Speech by Dr. Willem F. Duisenberg, President of the European Central Bank. In the speech titled 'Current fiscal and monetary policy issues in the euro area' Wim Duisenberg repeated that exerting political pressure on the central bank would…
Profits deal means euro will not be backed by gold
SPECIAL CBNET REPORT - One result of the deal to distribute the profits of the euro is that the euro will be an almost entirely paper-backed currency.
Inappropriate for BOJ to buy foreign bonds
JAPAN - It is inappropriate for the Bank of Japan to buy foreign bonds as a way to ease monetary conditions as it would be viewed as foreign exchange intervention, said a former BOJ executive director Thursday.
ECB Monthly Bulletin, December 2001
REPORT - The European Central Bank has published its Monthly Report for December 2001, released 12 December. The report said euro zone growth was likely to stay weak early next year but that an upturn was expected over the course of 2002.
Speech by William Poole of the St. Louis Fed Bank
SPEECH - Speech by William Poole*, President of the Federal Reserve Bank of St. Louis. Poole said in the speech titled 'Market Responses to Economic Stress' he has "no way to set a precise timetable for renewed growth," but agreed with "professional…
Speech by Michael Moskow, President, Chicago Fed
SPEECH - Speech by Michael H. Moskow, President and CEO, Federal Reserve Bank of Chicago. Michael Moskow says in the speech "We expect the economy to improve next year, although the timing is uncertain," but adds that "Looking ahead, we are likely to…
Federal Reserve Press Release - Interest rate cut
PRESS RELEASE - Federal Reserve FOMC monetary policy decision press release, 11 December, 2001.
US interest rates cut again to 1.75%
US - The US Federal Reserve has cut interest rates by a quarter of a percentage point to 1.75%.
Japan tankan survey points to prolonged recession
JAPAN - Japanese business confidence sagged for a fourth straight quarter to a near three-year low in December, a key Bank of Japan survey showed on Wednesday, as big firms braced for a long recession and slashed spending plans.
Bank of Japan Tankan Report
REPORT - Bank of Japan Tankan Report, published 12 December 2001.
The Monetary Transmission Mechanism in Japan
RESEARCH - With voices at the Bank of Japan and Ministry of Finance suggesting that more radical monetary policy tools are used to counter Japan's current deflationary spiral and recession this IMF paper looks at how monetary shocks impact on the…