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US treasury points to dangers of sovereign wealth
Clay Lowery, acting under-secretary for international affairs at the US treasury, has asked the International Monetary Fund and the World Bank to compile best-practice guidelines for sovereign wealth funds.
Polish bank head outvoted over rate rise
The National Bank of Poland's president was on the losing side as the rate-setting committee voted 6-4 for the first rise in interest rate in three years in April, a report released today showed.
Provinces press Canadian cb not to raise rates
Ontario was in the forefront of pressure from the Canadian provinces on Bank of Canada governor David Dodge not to raise interest rates.
Angola can end this year with 10% inflation: cb
The National Bank of Angola, the country's central bank, has stated its confidence that Angola can end this year with an inflation rate of 10%, while acknowledging that structural difficulties in the economy may get in the way of achieving this…
Kuwaiti institutions under fire from Parliament
Members of parliament in Kuwait launched a fierce attack on the Central Bank of Kuwait (CBK) and the Kuwait Investment Authority (KIA), saying that some of their officials were deriving personal benefit from their decisions and investments.
Credit mis-pricing in India creates risks
Mis-pricing of credit risks by domestic bankers can both create systemic vulnerability and have implications for small borrowers, the deputy governor of the Reserve Bank of India, Rakesh Mohan, noted yesterday.
BoE's governor blames banks for £5 note shortage
Mervyn King, governor of the Bank of England, criticised the short supply of "fivers" in his annual Mansion House speech on 20 June.
Bank of Mozambique - annual report
Among the highlights of 2006, Mozambique's central bank we began the process of establishing agencies of throughout the country in order to ensure the supply of banknotes and coins closer to commercial banks.
Target2 progress report
With all the hype surrounding the ECB's T2S, it is easy to forget that the launch of the Single Shared Platform (SSP) for the Target2 payments system is less than five months away.
Geithner on lessons from the Asian crisis
That crisis countries had fixed but adjustable pegs, was one of the main lessons Tim Geithner, the president of the New York fed, highlighted ned in a recent speech.
Bank of Papua New Guinea warns on spending
The Bank of Papua New Guinea issued a warning to the government against increased spending during the general elections, in the face of unfavourable external developments.
Russian cb retains hold on banking regulation
The Central Bank of the Russia will hold on to its position as sole regulator of the banking sector, in the teeth of a determined effort by the State Duma to remove its power to revoke banking licences.
BoJ to continue gradual rate hikes
The minutes of the May 16-17 board meeting of the Bank of Japan confirmed the view of members that the central bank should continue to raise interest rates gradually, in line with growth and inflation prospects.
China cool on IMF policy shift
The People's Bank of China reacted coolly to the change in the International Monetary Fund's currency monitoring policies (see our news item, 19 June).
Taiwan raises rates again
Taiwan's central bank raised its benchmark interest rate - the discount rate on 10-day loans to banks - by a quarter percentage point to 3.125% today.
Dr Zeti on developing Islamic markets
Speaking at the Sukuk summit in London, the governor of Bank Negara Malaysia's discussed the development of Islamic capital markets in Malaysia.
National Bank of Hungary - Annual Report 2006
"In terms of inflation, 2006 was an unfavourable year," is the ominous opening to the National Bank of Hungary's assessment of 2006.
Minutes of Polish monetary policy meeting
The minutes set out the committee's reasons for rejecting a quarter-point rate hike at the meeting three weeks ago, in favour maintaining the cost of borrowing at 4.25%.
Spain's Ordonez: annual address
Speaking at the Bank of Spain's annual meeting, Miguel Fernandez Ordonez, the governor, took stock of the Spanish economy in 2006 its 13th continuous year of expansion.
Bank of Israel's wage dispute continues
The wage dispute at the Bank of Israel is continuing, with Eli Cohen, the wages director at the country's finance ministry, refusing to sign off on various clauses of the new collective employment agreement.
New governor for Slovenian central bank
After a months-long deadlock the parliament of Slovenia has finally approved a new central bank governor. The new governor is Marko Kranjec, an economics professor and financial expert who was the country's first finance minister.
Sweden raises key rate - and more to come
Sveriges Riksbank, Sweden's central bank raised its benchmark interest rate on 20 June for the eighth time in 18 months, this time lifting the repurchase rate by a quarter point to 3.5%, the highest level for over four years.
King outvoted over rates increase again
The Monetary Policy Committee (MPC) of the Bank of England narrowly defeated governor Mervyn King at their policy meeting in June, voting 5-4 to keep the rate unchanged at 5.5%. This was the second time that the governor was on the losing end of an MPC…
Riksbank's Monetary Policy Report
Published the day Sweden's central bank raised rates, the report sets out the Riksbank's thinking behind the rise and its assessment that that the repo rate will need to be around 4% at the end of the year