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Report says Fazio ready to accept limited term
Bank of Italy governor Antonio Fazio is ready to accept a reform of the central bank and the introduction of limited tenure for his post, the daily Il Corriere della Sera said, citing sources close to the governor.
PBOC to change currency design
China's central bank said it will adopt a new design for its currency note, the yuan, to reduce counterfeiting of the new edition of notes which will start circulation on Wednesday 31 August.
Financial Stability Forum to meet in London
The Financial Stability Forum announced on Tuesday 30 August that it will hold its fourteenth meeting on 8-9 September in London.
Greenspan on the Fed and the future
In closing remarks to the Jackson Hole symposium given on 27 August, Fed chairman Alan Greenspan said he will miss debates on the conduct of monetary policy with members of the Federal Open Market Committee.
ECB Paper on hedge funds and financial stability
The ECB Paper "Hedge funds and their implications for financial stability", published on 26 August, provides an overview of the hedge fund industry, mainly from a financial stability and European angle.
Challenges for central banks in an enlarged EMU
A new book analyses the challenges that lie in front of the EU as it used to be, the hurdles that have to be cleared by possible candidates, and the impact of these developments on important economic sectors like the financial markets.
Money separates European Central Bank from Fed
According to this article published on Tuesday 30 August, in the old days, bond traders had a singular, stock response to a surge in oil prices and the onset of natural disasters, such as hurricanes: Sell Treasuries.
MAS and IMF seminar on Asian integration
The Monetary Authority of Singapore (MAS) and the International Monetary Fund (IMF) will jointly host a high-level seminar on Asian regional financial integration in Singapore on Saturday 3 September.
The yuan's stable float
Noises and signals continue to emerge from China about reforms to the exchange rate regime, but the central bank still appears to have a firm grip on the value of the yuan.
Greenspan on the central banker's art
Alan Greenspan attributed the recent increase in asset values to investors' willingness to accept lower compensation for risk, as part of his opening remarks to the annual central bank symposium in Jackson Hole.
Kenya committee to advise on monetary operations
The Central Bank of Kenya will benefit from expert advice on how to implement monetary policy, following the establishment of a Monetary Policy Advisory Committee on August 24.
Rupiah sinks on oil-price rise
The Indonesian rupiah has sunk to its lowest level since January 2002, following a week of rapid depreciation. Burhanuddin Abdullah, governor of Bank Indonesia, vowed to continue to defend the rupiah.
Comment: Summer roundup
For subscribers returning to their offices after the summer break - and for anybody wishing to catch breath before the autumn season - here is a check list of topics that have bubbled to the surface recently and are likely to remain of concern to central…
What remains of the SGP?
Franz-Christoph Zeitler, a member of the executive board of Deutsche Bundesbank, delivered a speech at the Salzburg seminar, a high-profile meeting place of international leaders, at which raised the question "What remains of the Stability and Growth…
Strong demand for euronotes
The euro has received a good deal of flak recently, but in cash terms it seems people can't get enough of Europe's single currency as the value of euro banknotes in circulation soared past €500 billion in the second quarter of 2005.
Experiences of inflation targeting
A new IMF paper examines the experiences of inflation targeting countries and presents a number of "stylised facts" and conclusions for policy makers.
Brazil looks to strengthen AML regime
A bill has been presented to the Brazilian Congress which would bolster anti money laundering rules and give the central bank more control over transactions.
Filipino rates unmoved despite inflation threat
The Philippines central bank held interest rates steady at its August monetary policy meeting, despite inflation which is expected to be above-target in 2005 and 2006.
Fazio faces strike ultimatum
The union representing the majority of staff at the Bank of Italy has threatened to call a strike unless Antonio Fazio, the central bank's governor, resigns over the Antonveneta affair.
Comment: Central banks scrutinize staff costs
How do central banks compare on staff costs? Central Banking Publications has compiled some figures for a group of countries (mainly OECD) using central banks' annual reports.
Taiwan's 2004 in review
A combination of economic expansion, rising prices and negative real rates led Taiwan's central bank to shift its monetary policy stance and raise rates in 2004, writes the governor, Fai-nan Perng, in the annual report.
Peru's strong 2004
December 2004 saw Peru celebrate its 42nd consecutive month of economic growth with a "significant improvement in the principal macroeconomic indicators," according to the central bank in its report for the year.
NY Fed to host credit derivatives powwow
The Federal Reserve Bank of New York is to hold a meeting with major banks to discuss issues in the credit derivatives market in September.
Comment: The Benefits of Joining the EMU
What is the gain for new European Union member states of joining the Euro currency area so soon? This is the question asked by Federico Ravenna in a recent ECB working paper*. The author argues that the decision to become part of the monetary union is…