Monetary Policy

Minutes of the Federal Open Market Committee

REPORT - A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washington, D.C., beginning on Tuesday, June 26, 2001, at 2:00 p.m. and continuing on Wednesday, June 27, 2001, at…

German wise man eyes lower GDP, ECB rates

GERMANY - Bert Ruerup, one of the German government's five economic advisers or "wise men", cut his forecast on 23 August for German growth in 2001 and said the way was clear for the European Central Bank to cut interest rates.

Australian economy 'immune' to turmoil - Costello

AUSTRALIA - Australia would be immune to looming global economic turmoil, Australian Treasurer Peter Costello said yesterday as the threat of recession looms larger for the US. Mr Costello predicted Australia would top the world economic growth table…

Survey from the Philadelphia Fed

SURVEY - The Survey of Professional Forecasters is the oldest quarterly survey of macroeconomic forecasts in the United States. The survey began in 1968 and was conducted by the American Statistical Association and the National Bureau of Economic…

EMU debate crucial to long term health of Swedish

SWEDEN - With the Swedish krona suffering from classic symptoms of a small European currency remaining outside of European Monetary Union, its best hope of a sustained recovery may be an acceleration of the EMU debate and entry process, analysts say.

Brazil rates will only fall after energy crisis

BRAZIL - The government will only be able to cut interest rates when energy supplies return to normal, which will probably only be in the second quarter of 2002, said former Central Bank chairman Carlos Geraldo Langoni on 21 August.

Federal Reserve Research

RESEARCH - International Finance Discussion Papers, An Empirical Comparison of Bundesbank and ECB Monetary Policy Rules by Jon Faust; John Rogers; and Jonathan H. Wright, August 2001.

IMF News Brief

REPORT - A news release from the International Monetary Fund, 21 August, detailing the recommend addition of US$8 billion to Argentina's stand-by credit.

Argentina pays workers in bonds

ARGENTINA - As Argentina's talks with the International Monetary Fund (IMF) drag on - with still no word on whether the country will get a much-needed aid package - the situation at home is getting worse.

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