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BOK to increase efficiency of reserve management
The Bank of Korea (BOK) said it will strengthen its manpower in the foreign currency asset management divisions to more effectively manage increasing foreign exchange reserves.
Former BOJ's Taya says current policy should stay
A former Bank of Japan policymaker told a press conference on Thursday 17 March that the central bank should adhere to its current "quantitative" credit-easing policy until Japan's economic recovery is achieved.
Taiwan cb deputy governor meets BoK's Park
Central Bank of China deputy governor Liang Fa-chin attended an international conference in South Korea, but did not discuss foreign exchange issues with Bank of Korea governor Park Seung, Economic Daily News reported, citing central bank governor Perng…
OECD report says dollar fall not unexpected
Global growth is only expected to slow moderately this year despite volatility in oil prices, the OECD said on Thursday 17 March in its semi-annual Financial Market Trends report.
IDB meeting to focus on trade and investment
The April 10-12 meeting of the Inter-American Development Bank, to be chaired by Japanese Finance Minister Sadakazu Tanigaki, will bring together finance ministers and central bank governors from its 46 member countries, officials said at a news…
How foreign reserves could make China yet stronger
This article says China's burgeoning foreign exchange reserves could provide an ideal remedy if the country's financial system is too fragile to sustain high growth levels in the long term. Up to $500 billion could be put into a social reconstruction…
IMF's Carstens on Latin America and global economy
In a speech on 'Latin America and the global economy: Prospects for growth and stability' given on 4 March, Agustin Carstens of the IMF said we are going through a phase of growth and expansion that is important in both size and geographical coverage.
Bank of Canada Annual Report 2004
The Bank of Canada has published its Annual Report for 2004. In the report the Bank said a major challenge during 2004 was the strong appreciation in the value of the Canadian dollar.
Sweden's Heikensten on monetary policy
In a speech on 'Introduction on monetary policy' given on 15 March, Lars Heikensten of the Sveriges Riksbank told the government's finance committee that the board left interest rates unchanged because too much emphasis had recently been placed on the…
BIS Triennial Central Bank Survey - Final Results
The BIS published the final results of its 2004 Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity on Thursday 17 March, showing a substantial increase in turnover in the foreign exchange market and in the growth of…
Danish central bank posts net fall in profit
Danmarks Nationalbank, the central bank, posted a net profit of 2.844 bln dkr for the full-year ending Dec 31, 2004, down from 3.609 bln dkr a year earlier.
PBOC to maintain managed floating forex mechanism
China will maintain its managed floating rate mechanism for its yuan currency, state television quoted central bank governor Zhou Xiaochuan as saying.
BOJ raises assessment of economy
The Bank of Japan slightly raised its assessment of the economy on Wednesday 16 March, saying in its latest monthly report that industrial production is flat, rather than weak - the first upgrade since last June.
GCC central bankers to meet on monetary union
Central bankers in the six-member of Gulf Cooperation Council (GCC) are set to meet in Saudi Arabia this Saturday, 19 March, on monetary union, the Arab News daily reported Wednesday 16 March.
ECB's E-payments in Europe conference summary
The European Central Bank held a conference on "E-payments without frontiers" on 10 November 2004. A detailed summary of the event was published by the ECB on Tuesday 15 March, together with documentation of the individual presentations by speakers.
Norges Bank Inflation Report, March 2005
Norway's central bank, Norges Bank, published its latest Inflation Report for March 2005 on Wednesday 16 March. The report said growth in the Norwegian economy has become more self-driven with the main driving forces being private consumption combined…
Yellen on US economy and the banking sector
In the speech 'Thoughts on the economy and the banking sector' given on 14 March, Janet Yellen of the San Francisco Fed said that regulators are worried that some banks are not well-positioned for "alternative scenarios" on movement of the yield curve or…
ECB book on statistics and economic policy-making
The European Central Bank published a book entitled "Statistics and their use for monetary and economic policy-making" on 11 March. The book contains the proceedings of the second ECB conference on statistics held in Frankfurt am Main on 22 and 23 April…
St Louis Fed's Central Banker, Spring 2005
The St. Louis Fed's Central Banker magazine for Spring 2005 has been published. The latest edition contains an article which reports that for the first time in history, Americans are favouring electronic payments in greater dollar amounts than checking…
Norway's Gjedrem on dialogue without boundaries
In the introduction to the conference "Dialogue without boundaries" given on 9 March, Svein Gjedrem of Norges Bank said monetary policy's most important contribution is to provide the economy with a nominal anchor.
Greenspan on Social Security program & retirement
In testimony on the 'Future of the Social Security program and economics of retirement' given on 15 March Alan Greenspan of the Federal Reserve issued a fresh call to Congress to move promptly to put Social Security on firm financial footing, warning…
SF Fed's Yellen on prospects for the U.S. economy
In a speech on 'Prospects for the U.S. economy' given on 2 March, Janet Yellen of the San Francisco Fed said the US economy is on a path toward healthy economic growth and stable inflation but interest rates remain accommodative.
Financial Stability Forum hold 13th meeting, Tokyo
The Financial Stability Forum (FSF) met on 11 March in Tokyo. Members discussed risks and vulnerabilities in the international financial system and reviewed ongoing work to mitigate sources of vulnerability.
Fed's Bies on Bank Secrecy Act & compliance
In a speech on 'Bank Secrecy Act and capital compliance issues' given on 14 March, Susan Schmidt Bies of the Federal Reserve said US regulators are drafting new guidelines for banks to comply with a law to stop money laundering.