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International Central Banks

International Central Banks. European Central Bank (ECB) Bank of England (BoE) Bank of Japan (BoJ) by Poochapa R. European Central Bank (ECB). Located in Frankfurt, Germany Established in June 1998 Euro, single currency Officially introduced in Jan 1 st , 1999 12 Countries member

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International Central Banks

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  1. International Central Banks European Central Bank (ECB) Bank of England (BoE) Bank of Japan(BoJ) by Poochapa R.

  2. European Central Bank (ECB) • Located in Frankfurt, Germany • Established in June 1998 • Euro, single currency • Officially introduced in Jan 1st, 1999 • 12 Countries member • Denmark, Sweden, UK

  3. European Central Bank (ECB) Organizational Structure • President • Vice-President • 6 members in Executive Board • Implementing decisions made by 2 overall councils

  4. The Governing Council 6 members of Exec. Board &12 Governors 2 times/month Meeting Set Interest Rate & Euro Changeover decisions The General Council President & Vice President 12 Governors from Euro 13 Governors from Non-Euro Quarterly Meeting All issues about EU countries European Central Bank (ECB)

  5. Monetary Policy Price Stability 2% Inflation Target 4.5% M3 Set by Governing Council Foreign Exchange Reserve 2% of Liabilities Keeping a minimum reserve with ECB European Central Bank (ECB)

  6. European Central Bank (ECB) Main Responsibilities • Monetary Policy • FX Operations • Foreign Reserves • Banknotes • Payment System Additional Tasks • Stat Info. • Developments in Bank/Fin sectors

  7. European Central Bank (ECB) The Euro Weakness • GDP • Productivity Growth & Investment Profitability • Investors’ Confidence • Investors’ Expectation --> $ is safe place • Euro Overvaluation

  8. Bank of England (BoE) • “Old Lady of Threadneedle Street” • Located in London, UK • Founded in July 27, 1694 • Bank of government • 2 departments; Issue & Banking • Pound currency

  9. Organizational Structure BoE A Governor A Deputy Governor 16 Directors 1694 Under Gov. 1997 Independence Monetary Policy Committee (MPC) The Governor 2 Deputy Governors Chief Economist Exec Director of Mkt Operation 4 external members Bank of England (BoE)

  10. Bank of England (BoE) Monetary Policy • Maintaining the price stability • Setting Interest Rate MPC • Monthly Meeting • One person, One vote • Transparency • Quarterly Inflation Report • National Changeover Plan (NCP)

  11. Bank of Japan (BoJ) • Located in Tokyo, Japan • Founded in 1882 (Meiji 15) • Independence from MoF • FX transactions • Yen currency

  12. Bank of Japan (BoJ) The Policy Board • A Governor • 2 Deputy Governors • 6 Deliberate Members • 2 times/month Meeting • Monthly Report & Monthly Econ Report (Tanken)

  13. Bank of Japan (BoJ) Monetary Policy • ZIRP • Overnight Call Rate • Repo transaction • Business Survey

  14. Thank you/Question ?

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