Monetary policy
Interview: Milton Friedman
Milton Friedman assesses the monetarist legacy and the recent performance of central banks. In conversation with Robert Pringle, the Nobel laureate offers his advice for those thinking of joining the euro, or trying to deal with deflation.
Bank of Japan Monetary Policy Meeting
PRESS RELEASE - Monetary Policy Decision from the Bank of Japan, 9 August. The Bank unanimously decided to maintain its current stance but was ready to react with increased liquidity if the stability of financial markets was at risk.
Japan's central bank ignores IMF plea on deflation
JAPAN - The Bank of Japan ignored a call from the International Monetary Fund to act against deflation plaguing the nation's economy on Friday, keeping its ultra-loose monetary policy unchanged.
Japan central bank keeps monetary policy unchanged
JAPAN - Japan's central bank left its monetary policy unchanged Friday amid hopes that an economic recovery is taking hold after a long slump.
ECB Press Release
PRESS RELEASE - Monetary policy decisions, 1 August.
Bank of Canada Press Release
PRESS RELEASE - Bank of Canada Releases Monetary Policy Report Update, 24 July.
Bank of Canada, Monetary Policy Report Update
REPORT - Bank of Canada, Monetary Policy Report Update, July 2002. The report projects economic growth for Canada in the range of 3 to 4 per cent to the end of 2003. The report also says the Bank is committed to achieving the 2 per cent target for…
Speech by David Dodge of Bank of Canada, 24 July
SPEECH - In his opening statement on the release of the Monetary Policy Report Update Dodge said that keeping inflation low and stable is the best contribution that monetary policy can make to sustained economic growth in Canada.
BOK to focus monetary policy on stock market
SOUTH KOREA - Korea's central bank will conduct its monetary policy with the goal of stabilizing local stock markets, the banks chief has said.
Thai central bank keep rates unchanged
THAILAND - The central bank's Monetary Policy Committee yesterday kept short-term interest rates unchanged, noting that recent data pointed to steady recovery in manufacturing and consumption.
China vows to keep exchange rate stable
CHINA - According to a news release issued by the People's Bank of China on Tuesday, the central bank's Monetary Policy Committee unanimously agreed at a recent meeting that the exchange rate of renminbi should be kept stable in the near term.
Minutes of Japan's Monetary Policy Meeting
MINUTES - Minutes of the Bank of Japan's Monetary Policy Meeting on 11 and 12 June 2002, released 19 July. A few members remarked that the Bank should make clear its intention to continue the current monetary easing stance because it was important to…
MAS Monetary Policy Statement
STATEMENT - Monetary Authority of Singapore, Monetary Policy Statement, 11 July.
Bank of Japan Press Release
PRESS RELEASE - At the Monetary Policy Meeting held today, the Bank of Japan decided, by unanimous vote, to maintain the following guideline for money market operations for the intermeeting period, 16 July.
Testimony of Fed Chairman Alan Greenspan, 16 July
TESTIMONY - In testimony to the US Congress on Tuesday Greenspan said "an infectious greed" in the business community, if unpunished, could inhibit a full economic recovery. He went on to say that "the fundamentals are in place for a return to sustained…
Federal Reserve Board Report
REPORT - Monetary Policy Report to the Congress, 16 July.
BOJ keeps monetary policy unchanged
JAPAN - Japan's central bank left its monetary policy unchanged Tuesday to keep plenty of cash flowing in the financial system and help the nation's fledgling recovery.
Speech by Otmar Issing of the ECB, 5 July
SPEECH - In a speech titled 'Some reflections on handling monetary policy in a global environment' Issing said that coordinated policy action by central banks of the type seen after the September 11 attacks would likely remain limited to exceptional…
ECB Press Release
PRESS RELEASE - Monetary Policy Decisions, 4 July.
Bank of England leaves interest rates at 4%
UK - The Bank of England's monetary policy committee on Thursday left its benchmark interest rate unchanged at 4 per cent, a 38-year low.
Norges Bank Press Conference, 3 July
PRESS CONFERENCE - Monetary policy meeting of Norges Bank's Executive Board / Inflation Report 2/ 2002.
Norges Bank's Inflation Report 2, 2002
REPORT - The Inflation Report discusses developments in the Norwegian economy and other factors that influence the inflation outlook. In addition, the balance of risks and uncertainty associated with the inflation projections are assessed.
Research from the Federal Reserve Bank of Atlanta
RESEARCH - The Behavior of Federal Funds Futures Prices over the Monetary Policy Cycle by Jeff Moore and Richard Austin, Federal Reserve Bank of Atlanta, Economic Review, Second Quarter 2002.
RBNZ raises main interest rate to 5.75 - up 0.25%
NEW ZEALAND - The Reserve Bank of New Zealand said it has decided to increase the official cash rate by 25 basis points to 5.75 pct so that they no longer encourage accelerated spending although further increases were now "rather less likely" than was…