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China report says efforts stepped up on yuan
The People's Bank of China said in its annual report on Tuesday 14 June it had stepped up its efforts to set up a more flexible foreign exchange mechanism due to fears capital being held overseas could flood back into the country.
Iran urges Tajikistan to join union of Asian banks
Visiting from Tehran on Wednesday 15 June, Iran's central bank governor called on Tajikistan to initiate accession of the Tajik national bank to the union of Asian central banks.
Bank of England - Annual Report 2005
The Bank of England published its Annual Report for 2005 on 15 June. In his Foreword governor Mervyn King said many of the initiatives arising from the fundamental review of Bank Strategy are already in train.
Fed's Bies on current regulatory issues
In the speech 'Current regulatory issues' given on 14 June, Susan Schmidt Bies of the Federal Reserve said Federal banking supervisors are concerned that borrowers looking to buy commercial and residential real estate "could become increasingly…
Fed's Kohn on managing risk
In the speech 'Managing risk in a changing economic and financial landscape' given on 15 June, Donald Kohn of the Federal Reserve said the US current account deficit and surge in house prices may not be sustainable and urged banks to protect themselves…
SF Fed says flatter yield curve not a warning
A study published by the Federal Reserve Bank of San Francisco says a sharp flattening in the US Treasury yield curve need not suggest the onset of economic weakness.
Rato on the IMF in a changing world
In the speech 'The IMF in a changing world' given on 8 June, Rodrigo de Rato of the IMF said to maintain the IMF's effectiveness, it is essential for our membership to resolve the difficult issues that have been raised about our own governance.
SNB's Roth on Switzerland: Small, but global
In the speech 'Switzerland: Small, but global' given on 10 June, Jean-Pierre Roth of the SNB said many fail to appreciate that this alpine republic is not merely a quaint little country for tourists, but a platform for global activity.
Bof E did not lie over BCCI, says former director
A former head of supervision at the Bank of England rejected allegations on Monday 14 June that the Bank had lied during an inquiry into the collapse of Bank of Credit and Commerce International.
PBOC to guard against inflation
China's central bank's stance will remain focused on preventing major fluctuations in the country's economy and keeping prices "from growing to quickly", the official Financial News reported.
ADB chief calls for early yuan shift
Asian Development Bank President Haruhiko Kuroda said on Tuesday 14 June that China should shift to a more flexible currency regime at an early date as such a move would benefit China and the rest of the world.
SA fin min says IMF gold sales not an option
South African Finance Minister Trevor Manuel said on Monday 13 June that the sale of gold held by the International Monetary Fund was not an option in funding debt relief for poor developing countries any more.
Flexible yuan would help world economy says Snow
US Treasury Secretary John Snow said on Tuesday 14 June that the world economy would benefit from a more flexible Chinese yuan exchange rate.
Bundesbank's Stark on the IMF in a changing world
In the speech 'The IMF in a changing world' given on 8 June, Jurgen Stark of the Bundesbank said he is convinced that the IMF has done an excellent job so far in helping member countries adapt to a changing economic environment.
Sweden's Heikensten on inflation targeting
In opening remarks to the Conference on inflation targeting: implementation, communication and effectiveness given on 11 June, Lars Heikensten of the Sveriges Riksbank said the contributions to this conference have succeeded in capturing the most…
Riksbank's workshop on inflation targeting
The Sveriges Riksbank held a workshop titled "Inflation targeting: implementation, communication and effectiveness" between 10-12 June. Papers presented at the workshop included "Central-bank communication and the publication of interest rate projections…
BoE's King on the UK economy
In a speech given on 13 June, Mervyn King of the Bank of England said consumer spending may bounce back after a weak first half and that inflation may accelerate.
RBA's Macfarlane: global influences on the economy
In the speech 'Global influences on the Australian economy' given on 14 June, Ian Macfarlane of the Reserve Bank of Australia downplayed a recent slowdown in Australia's economic growth as a healthy correction that might help prolong the current…
EU's Almunia says euro to 'stay forever'
EU Economic and Monetary Affairs Commissioner Joaquin Almunia has downplayed concerns over the viability of European Monetary Union, saying that no member is likely to abandon the body.
Former Dallas Fed head sees two further rate hikes
The Federal Reserve will hike rates by two more quarter-point moves and then stop, according to Robert McTeer, the former president of the Federal Reserve Bank of Dallas.
ECB's Issing doesn't rule out rate cut
In an interview with German weekly magazine Der Spiegel, ECB chief economist Otmar Issing said he did not think the recent "no" votes in France and the Netherlands were adversely affecting the currency.
Noyer says no European government would leave euro
Banque de France President and European Central Bank governing council member Christian Noyer said in an interview he believes no European government would seriously consider leaving the euro.
G8 pressures Asia to adopt flexible FX
Finance ministers from the G8 rich nations on Saturday 11 June urged emerging Asia to adopt flexible currency policies, but did not mention currencies in their final communique.
Philadelphia's Santomero on the economic outlook
In the speech 'Economic outlook and the role of bank directors' given on 11 June, Anthony Santomero of the Federal Reserve Bank of Philadelphia said he expected US inflation to be well-contained in 2005, allowing the Fed to raise interest rates to a…