For other related diaries, please see;
DIARY - U.S. Federal Reserve [FED/DIARY]
DIARY - Polling Unit Diary [POLL/DIARY]
DIARY - Key World Financial Events [KEY/DIARY]
DIARY - Political and General news [POL/DIARY]
DIARY - Index of all Diaries [IND/DIARY]
DIARY - G7 Economic Indicators <ECON>
DIARY - Emerging Markets Cen Banks [CEN/EMRG]
Please find below a list of dates of interest rate and
other major announcements in 2008 from key central banks around
the world.
========================================================
U.S. FEDERAL OPEN MARKET COMMITTEE
2008
Jun 24 - Two-day meeting on interest rates (to Jun. 25).
Jun 25 - Decision on short-term interest rates and policy
statement at close of meeting 1815 GMT.
Aug 5 - One-day meeting on interest rates - 1815 GMT.
Sep 16 - One-day meeting on interest rates - 1815 GMT.
Oct 28 - Two-day meeting on interest rates (to Oct. 29).
Oct 29 - Decision on short-term interest rates and policy
statement at close of meeting 1815 GMT.
Dec 16 - One-day meeting on interest rates - 1915 GMT
2009
Jan 27 - Two-day meeting on interest rates (to Jan. 28).
Jan 28 - Decision on short-term interest rates and policy
statement at close of meeting 1915 GMT.
========================================================
EUROPEAN CENTRAL BANK
(Held in Frankfurt unless otherwise stated).
2008
Jun 5 - ECB Governing Council meeting, followed by interest
rate announcement 1145 GMT. News conference follows at 1230 GMT.
Jun 19 - ECB Governing Council and General Council meeting.
No interest rate announcements scheduled. Any announcement about
other issues to be released at 1230 GMT.
Jul 3 - ECB Governing Council meeting, followed by interest
rate announcement 1145 GMT. News conference follows at 1230 GMT.
Jul 17 - ECB Governing Council meeting. No interest rate
announcements scheduled. Any announcement about other issues to
be released at 1230 GMT.
Aug 7 - ECB Governing Council meeting. No interest rate
announcements scheduled. Any announcement about other issues to
be released at 1230 GMT.
Sep 4 - ECB Governing Council meeting, followed by interest
rate announcement 1145 GMT. News conference follows at 1230 GMT.
Sep 18 - ECB Governing Council and General Council meeting.
No interest rate announcements scheduled. Any announcement about
other issues to be released at 1230 GMT.
Oct 2 - ECB Governing Council meeting, followed by interest
rate announcement 1145 GMT. News conference follows at 1230 GMT.
Oct 23 - ECB Governing Council meeting. No interest rate
announcements scheduled. Any announcement about other issues to
be released at 1230 GMT.
Nov 6 - BRUSSELS - ECB Governing Council meeting, followed
by interest rate announcement 1245 GMT. News conference follows
at 1330 GMT.
Nov 20 - ECB Governing Council meeting. No interest rate
announcements scheduled. Any announcement about other issues to
be released at 1330 GMT.
Dec 4 - ECB Governing Council meeting, followed by interest
rate announcement 1245 GMT. News conference follows at 1330 GMT.
Dec 18 - ECB Governing Council and General Council meeting.
No interest rate announcements scheduled. Any announcement about
other issues to be released at 1330 GMT.
2009
Jan 15 - ECB Governing Council meeting, followed by interest
rate announcement 1245 GMT. News conference follows at 1330 GMT.
=====================================================
BANK OF JAPAN
2008
Jun 12 - MPM meeting
Jun 13 - MPM rate decision.
=====================================================
BANK OF ENGLAND
2008
Jun 4 - MPC meeting (to Jun. 5).
Jun 5 - MPC announces interest rate decision - 1100 GMT.
Jul 9 - MPC meeting (to Jul. 10).
Jul 10 - MPC announces interest rate decision - 1100 GMT.
Aug 6 - MPC meeting (to Aug. 7).
Aug 7 - MPC announces interest rate decision - 1100 GMT.
Sep 3 - MPC meeting (to Sep. 4).
Sep 4 - MPC announces interest rate decision - 1100 GMT.
Oct 8 - MPC meeting (to Oct. 9).
Oct 9 - MPC announces interest rate decision - 1100 GMT.
Nov 5 - MPC meeting (to Nov. 6).
Nov 6 - MPC announces interest rate decision - 1200 GMT.
Dec 3 - MPC meeting (to Dec. 4).
Dec 4 - MPC announces interest rate decision - 1200 GMT.
========================================================
BANK OF CANADA
2008
Jun 10 - Key interest rate policy announcement
Jul 15 - Key interest rate policy announcement
Sep 3 - Key interest rate policy announcement
Oct 21 - Key interest rate policy announcement
Dec 9 - Key interest rate policy announcement
=======================================================
BANK FOR INTERNATIONAL SETTLEMENTS (BIS)/G10 - All
bi-monthly meetings take place in Basel, Switzerland, except
where indicated;
2008
Jun 28 - BIS AGM
Sep 7/8 - Global Economy Meeting (GEM) of central bank
heads from leading industrial and emerging economies, held at
the Bank for International Settlements (BIS).
Nov 9/10 - (BRAZIL) Global Economy Meeting (GEM) of central
bank heads from leading industrial and emerging economies, held
at the Bank for International Settlements (BIS)
2009
Jan 11/12 - Global Economy Meeting (GEM) of central bank
heads from leading industrial and emerging economies, held at
the Bank for International Settlements (BIS).
=======================================================
SWISS NATIONAL BANK
2008
Jun 19 - Quarterly monetary policy assessment
Sep 18 - Quarterly monetary policy assessment
Dec 11 - Quarterly monetary policy assessment
========================================================
RESERVE BANK OF AUSTRALIA
2008
Jun 3 - RBA Board meeting
Jul 1 - RBA Board meeting
Aug 5 - RBA Board meeting
Sep 2 - RBA Board meeting
Oct 7 - RBA Board meeting
Nov 4 - RBA Board meeting
Dec 2 - RBA Board meeting
=======================================================
RESERVE BANK OF NEW ZEALAND
2008
Jun 5 - Monetary Policy Statement and Official Cash Ratio
(OCR) announcement.
Jul 24 - Official Cash Rate (OCR) announcement.
Sep 11 - Monetary Policy Statement and Official Cash Ratio
(OCR) announcement.
Oct 23 - Official Cash Rate (OCR) announcement.
Dec 4 - Monetary Policy Statement and Official Cash Ratio
(OCR) announcement.
========================================================
SWEDEN'S RIKSBANK
2008
Jul 2 - Executive Board monetary policy meeting
Jul 3 - Monetary rate decision.
Sep 3 - Executive Board monetary policy meeting
Sep 4 - Monetary rate decision.
Oct 22 - Executive Board monetary policy meeting
Oct 23 - Monetary rate decision.
Dec 16 - Executive Board monetary policy meeting
Dec 17 - Monetary rate decision.
=======================================================
NORGES BANK
2008
May 28 - Norwegian central bank's policy-setting executive
board holds meeting on interest rates (rate decision 1200 GMT,
news conference 1245 GMT).
Jun 25 - Norwegian central bank's policy-setting executive
board holds meeting on interest rates (rate decision 1200 GMT,
news conference 1245 GMT).
Aug 13 - Norwegian central bank's policy-setting executive
board holds meeting on interest rates (rate decision 1200 GMT,
news conference 1245 GMT).
Sep 24 - Norwegian central bank's policy-setting executive
board holds meeting on interest rates (rate decision 1200 GMT,
news conference 1245 GMT).
Oct 29 - Norwegian central bank's policy-setting executive
board holds meeting on interest rates (rate decision 1300 GMT,
news conference 1345 GMT).
Dec 17 - Norwegian central bank's policy-setting executive
board holds meeting on interest rates (rate decision 1300 GMT,
news conference 1345 GMT).
=======================================================
CENTRAL BANK OF ICELAND
2008
Sep 11 - Iceland Central Bank interest rate decision.
Dec 20 - Iceland Central Bank interest rate decision.
=======================================================
DANISH NATIONAL BANK
Denmark's National Bank does not have regularly monetary
policy meetings. The Board of Governors convenes whenever
necessary but these meetings often coincide with the ECB.
--------------------------------------------------------
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Reuters Diary Desk tel +44 207 542 7992, or e-mail
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NOTE: The inclusion of diary items does not necessarily
mean that Reuters will file a story based on the event.
For other related diaries, please see;
DIARY - U.S. Federal Reserve [FED/DIARY]
DIARY - Polling Unit Diary [POLL/DIARY]
DIARY - Key World Financial Events [KEY/DIARY]
DIARY - Political and General news [POL/DIARY]
DIARY - Index of all Diaries [IND/DIARY]
DIARY - G7 Economic Indicators <ECON>
DIARY - Emerging Markets Cen Banks [CEN/EMRG]
Please find below a list of dates of interest rate and
other major announcements in 2008 from key central banks around
the world.
========================================================
U.S. FEDERAL OPEN MARKET COMMITTEE
2008
Jun 24 - Two-day meeting on interest rates (to Jun. 25).
Jun 25 - Decision on short-term interest rates and policy
statement at close of meeting 1815 GMT.
Aug 5 - One-day meeting on interest rates - 1815 GMT.
Sep 16 - One-day meeting on interest rates - 1815 GMT.
Oct 28 - Two-day meeting on interest rates (to Oct. 29).
Oct 29 - Decision on short-term interest rates and policy
statement at close of meeting 1815 GMT.
Dec 16 - One-day meeting on interest rates - 1915 GMT
2009
Jan 27 - Two-day meeting on interest rates (to Jan. 28).
Jan 28 - Decision on short-term interest rates and policy
statement at close of meeting 1915 GMT.
========================================================
EUROPEAN CENTRAL BANK
(Held in Frankfurt unless otherwise stated).
2008
Jun 5 - ECB Governing Council meeting, followed by interest
rate announcement 1145 GMT. News conference follows at 1230 GMT.
Jun 19 - ECB Governing Council and General Council meeting.
No interest rate announcements scheduled. Any announcement about
other issues to be released at 1230 GMT.
Jul 3 - ECB Governing Council meeting, followed by interest
rate announcement 1145 GMT. News conference follows at 1230 GMT.
Jul 17 - ECB Governing Council meeting. No interest rate
announcements scheduled. Any announcement about other issues to
be released at 1230 GMT.
Aug 7 - ECB Governing Council meeting. No interest rate
announcements scheduled. Any announcement about other issues to
be released at 1230 GMT.
Sep 4 - ECB Governing Council meeting, followed by interest
rate announcement 1145 GMT. News conference follows at 1230 GMT.
Sep 18 - ECB Governing Council and General Council meeting.
No interest rate announcements scheduled. Any announcement about
other issues to be released at 1230 GMT.
Oct 2 - ECB Governing Council meeting, followed by interest
rate announcement 1145 GMT. News conference follows at 1230 GMT.
Oct 23 - ECB Governing Council meeting. No interest rate
announcements scheduled. Any announcement about other issues to
be released at 1230 GMT.
Nov 6 - BRUSSELS - ECB Governing Council meeting, followed
by interest rate announcement 1245 GMT. News conference follows
at 1330 GMT.
Nov 20 - ECB Governing Council meeting. No interest rate
announcements scheduled. Any announcement about other issues to
be released at 1330 GMT.
Dec 4 - ECB Governing Council meeting, followed by interest
rate announcement 1245 GMT. News conference follows at 1330 GMT.
Dec 18 - ECB Governing Council and General Council meeting.
No interest rate announcements scheduled. Any announcement about
other issues to be released at 1330 GMT.
2009
Jan 15 - ECB Governing Council meeting, followed by interest
rate announcement 1245 GMT. News conference follows at 1330 GMT.
=====================================================
BANK OF JAPAN
2008
Jun 12 - MPM meeting
Jun 13 - MPM rate decision.
=====================================================
BANK OF ENGLAND
2008
Jun 4 - MPC meeting (to Jun. 5).
Jun 5 - MPC announces interest rate decision - 1100 GMT.
Jul 9 - MPC meeting (to Jul. 10).
Jul 10 - MPC announces interest rate decision - 1100 GMT.
Aug 6 - MPC meeting (to Aug. 7).
Aug 7 - MPC announces interest rate decision - 1100 GMT.
Sep 3 - MPC meeting (to Sep. 4).
Sep 4 - MPC announces interest rate decision - 1100 GMT.
Oct 8 - MPC meeting (to Oct. 9).
Oct 9 - MPC announces interest rate decision - 1100 GMT.
Nov 5 - MPC meeting (to Nov. 6).
Nov 6 - MPC announces interest rate decision - 1200 GMT.
Dec 3 - MPC meeting (to Dec. 4).
Dec 4 - MPC announces interest rate decision - 1200 GMT.
========================================================
BANK OF CANADA
2008
Jun 10 - Key interest rate policy announcement
Jul 15 - Key interest rate policy announcement
Sep 3 - Key interest rate policy announcement
Oct 21 - Key interest rate policy announcement
Dec 9 - Key interest rate policy announcement
=======================================================
............................................................... For news and data, double-click on the codes in brackets. Access to some items may depend on subscription level. .............................................................. > ***SNAPSHOT - WORLD KEY OFFICIAL INTEREST RATES*** [INT/RATE] > FACTBOX-Global interest res [GLOBAL/INT] ............................................................... > BOJ minutes: board agreed global economic risk [nTKU003295] > Highlights-Bank of Japan policy board minutes [nT181356] > EU's Almunia warns against abrupt policy moves [nMDT005225] > UK set for "significant slowdown" -BoE's Sentance [nL2388366] > SNB says ready to bail out banks in case of need [nZAT007740] > POLL-Norway c.bank seen keeping rate steady May 28[nL23777710] > Stalemate at Ukraine cbank remains unresolved [nL23673863] > Poland held rates in April on growth,zloty-minutes[nL23842952] > Hungary government urges c.bank to hold rates [nL23149063] > India cbank alters valuation rules for special bond[nBOM49671] > Russia c.bank sees May capital inflows at $20 bln [nL23523662] > Asia shifts priorities as inflation threatens [nSP258841] ............................................................... > The outlook for Federal Reserve policy [FED/AHEAD] > Reuters coverage of Basel II accord [ID:nL10281706] ............................................................... UPCOMING CENTRAL BANK MEETINGS, EVENTS | Fed June 24/25 | BOJ June 12/13 | | ECB June 5 | BoE June 4/5 | | BOC June 10 | RBA June 3 | | Riksbank* July 2 | RBNZ June 5 | | Swiss Nat Bank June 19 | Norges Bank May 28 | * Announcement July 3 > Major central bank events [CEN/DIARY] > Diary of emerging market central bank events [CEN/EMRG] ................................................................ REUTERS POLLS | US Fed Funds rate [FED/R] | ECB rates [ECB/INT] | | British rates [BOE/INT] | Canadian rates [CA/INT] | | Japanese rates [BOJ/INT] | Chinese rates [CNY/POLL] | | Australian rates [AU/INT] | Swiss rates [SNB/INT] | | Swedish rates [SE/INT] | South African rates [ZA/INT] | | Top poll news [POLL/] ............................................................... LATEST NEWS ON CENTRAL BANKS | Central bank news [CEN] | U.S. Federal Reserve [FED] | | Bank of Japan [BOJ] | European Central Bank [ECB] | | Swiss National Bank [SNB] | Bank of England [BOE] | | All forex news [FRX] | Economic indicators [ECI] | | Central Bank index<CENTRAL1>| Central bank rates<KEYRATES/1> | T ............................................................... CENTRAL BANKERS' COMMENTS | Federal Reserve[FED/QUOTES] | ECB [ECB/QUOTES]| | Bank of England[BOE/QUOTES] | Swiss National Bank[SNB/QUOTES]| | Sweden Riksbank[RIK/QUOTES] | ............................................................... DIARIES | Fed diary [FED/DIARY] | ECB diary [ECB/DIARY] | | Today's FX market[MI/DIARY] | Financial events [KEY/DIARY] | | Diary index [IND/DIARY] | Polling diary [POLL/DIARY] | .............................................................. WEB ADDRESSES Federal Reserve: http://www.federalreserve.gov/ Bank of Japan: http://www.boj.or.jp/en/index.htm European Central Bank: http://www.ecb.int/index.html Bank of England: http://www.bankofengland.co.uk/ Bank of Canada: http://www.bankofcanada.ca/en/ Swiss National Bank: http://www.snb.ch .............................................................. ((David Stamp; London Treasury Desk +44 207 542 7716))
(For more stories on the Japanese economy, click [ID:nECONJP])
By Hideyuki Sano
TOKYO, May 23 (Reuters) - Bank of Japan Governor Masaaki Shirakawa said on Friday that the central bank was monitoring both upside and downside risks to the economy and that he could not predict the course of its policy given the current economic uncertainties.
Shirakawa also told Reuters and other media that having an extremely loose monetary policy when the financial system is sound, such as by bringing interest rates down to zero, would have side-effects and only a limited impact on boosting growth.
Financial markets no longer expect a BOJ rate cut as inflation has crept to a decade-high while interest rates are languishing at 0.50 percent. A Reuters poll on Thursday showed that economists expect a rate hike in early 2009. [nL22108778]
Shirakawa reiterated his view that the economy is facing downside risks while inflationary pressure is also rising.
"We cannot predetermine our policy. We'll be looking at both the upside and downside risks."
The BOJ dropped its two-year bias towards raising rates when it issued its twice-yearly economic outlook report in late April.
But he added that he was wary of the side effects of a loose monetary policy.
"Some people argue that a prolonged period of easy policy around the world is one factor behind the subprime crisis. We must take that into consideration," he said.
He said that the unorthodox policies the BOJ adopted earlier this decade helped stabilise the financial system but did little to boost growth.
As it wrestled with deflation and financial problems, the BOJ reduced interest rates to around zero from early 1999 to mid-2000. From 2001 to early 2006, the bank adopted a 'quantitative easing' policy of force-feeding banks with excess cash.
"On the whole, those measures helped maintain the stability of the financial system," Shirakawa said, but he added that this monetary policy had little impact in boosting growth.
"The economy was saddled with three excesses, namely in capacity, employment and debt. Without clearing these excesses, there wouldn't be a full-fledged recovery," he said. "When we had those excesses, monetary policy had a limited effect."
He added that once the banking system recovered, keeping such an easy policy could hurt the financial system and lead to excessive risk-taking in the long run.
Financial markets expect the BOJ to keep interest rates on hold for a while before eventually raising them. Swap contracts on the BOJ's target rate are pricing in about a 45 percent of a rate hike by the end of year. [MIRS6]
Shirakawa took the helm at the central bank in April after serving as acting governor since mid-March, when former Governor Toshihiko Fukui retired. (Editing by Hugh Lawson) ((hideyuki.sano@thomsonreuters.com; +81 3 6441 1827; Reuters Messaging: hideyuki.sano.reuters.com@reuters.net)) Keywords: JAPAN ECONOMY/SHIRAKAWA
............................................................... For news and data, double-click on the codes in brackets. Access to some items may depend on subscription level. .............................................................. > ***SNAPSHOT - WORLD KEY OFFICIAL INTEREST RATES*** [INT/RATE] > FACTBOX-Global interest res [GLOBAL/INT] ............................................................... > BOJ minutes: board agreed global economic risk [nTKU003295] > Highlights-Bank of Japan policy board minutes [nT181356] > SNB says ready to bail out banks in case of need [nZAT007740] > Russia c.bank sees May capital inflows at $20 bln [nL23523662] > Asia shifts priorities as inflation threatens [nSP258841] > Ukraine cbank head rebukes council on FX rate [nL23673863] > RBNZ rate outlook little changed by tax cuts [nWEL290343] > Singapore sets sights firmly on fighting inflation [nSP184571] > India cbank alters valuation rules for special bond[nBOM49671] > Ukraine cbank unity on FX policy falls apart [nL22295245] ............................................................... > The outlook for Federal Reserve policy [FED/AHEAD] > Reuters coverage of Basel II accord [ID:nL10281706] ............................................................... UPCOMING CENTRAL BANK MEETINGS, EVENTS | Fed June 24/25 | BOJ June 12/13 | | ECB June 5 | BoE June 4/5 | | BOC June 10 | RBA June 3 | | Riksbank* July 2 | RBNZ June 5 | | Swiss Nat Bank June 19 | Norges Bank May 28 | * Announcement July 3 > Major central bank events [CEN/DIARY] > Diary of emerging market central bank events [CEN/EMRG] ................................................................ REUTERS POLLS | US Fed Funds rate [FED/R] | ECB rates [ECB/INT] | | British rates [BOE/INT] | Canadian rates [CA/INT] | | Japanese rates [BOJ/INT] | Chinese rates [CNY/POLL] | | Australian rates [AU/INT] | Swiss rates [SNB/INT] | | Swedish rates [SE/INT] | South African rates [ZA/INT] | | Top poll news [POLL/] ............................................................... LATEST NEWS ON CENTRAL BANKS | Central bank news [CEN] | U.S. Federal Reserve [FED] | | Bank of Japan [BOJ] | European Central Bank [ECB] | | Swiss National Bank [SNB] | Bank of England [BOE] | | All forex news [FRX] | Economic indicators [ECI] | | Central Bank index<CENTRAL1>| Central bank rates<KEYRATES/1> | T ............................................................... CENTRAL BANKERS' COMMENTS | Federal Reserve[FED/QUOTES] | ECB [ECB/QUOTES]| | Bank of England[BOE/QUOTES] | Swiss National Bank[SNB/QUOTES]| | Sweden Riksbank[RIK/QUOTES] | ............................................................... DIARIES | Fed diary [FED/DIARY] | ECB diary [ECB/DIARY] | | Today's FX market[MI/DIARY] | Financial events [KEY/DIARY] | | Diary index [IND/DIARY] | Polling diary [POLL/DIARY] | .............................................................. WEB ADDRESSES Federal Reserve: http://www.federalreserve.gov/ Bank of Japan: http://www.boj.or.jp/en/index.htm European Central Bank: http://www.ecb.int/index.html Bank of England: http://www.bankofengland.co.uk/ Bank of Canada: http://www.bankofcanada.ca/en/ Swiss National Bank: http://www.snb.ch .............................................................. ((David Stamp; London Treasury Desk +44 207 542 7716))Next: *TOP NEWS* Central banks