Central Banking staff
Follow Central Banking
Articles by Central Banking staff
SARB to present upgraded banknotes to parliament
The South African Reserve Bank said on Friday 4 February that the upgraded banknotes, which went into circulation at the beginning of February, will be presented to members of Parliament in Cape Town on 7 February, ahead of the opening of Parliament.
BOT governor brushes off dismissal rumours
Bank of Thailand governor M.R. Pridiyathorn Devakula said this week that he had not been affected by rumours of his possible ousting from the central bank.
Nepal Rastra Bank appoints new governor
After a protracted dispute among the ruling parties, a cabinet meeting on Monday 31 January finally decided to appoint deputy governor Bijaya Nath Bhattarai as the new governor of the Nepal Rastra Bank.
PBOC's Xiaochuan on legal & financial system
In the speech 'Improve legal system and financial ecology' given on 2 December (published 28 Jan) Zhou Xiaochuan of the People's Bank of China told the "Forum of 50 Chinese Economists" that from the perspective of the central bank, he wishes them to work…
Capitalising central banks: A net worth approach
This IMF Working Paper provides a simple, quantitative, net worth-based, approach to assessing the need for central bank capital. It derives a concept of "core capital" as the minimum capital needed by a central bank to ensure the credibility of its…
Malawi names new central bank governor
President Bingu wa Mutharika of Malawi has decided against renewing the contract of central bank governor Elias Ngalande, which expires at the end of this month, a government official said on Tuesday 1 February. Ngalande will be succeed by Victor Mbewe.
Interview with Bank of Canada's Tiff Macklem
In an interview published this week, Bank of Canada Deputy Governor Tiff Macklem said Canada's economy may take two or three years to adjust to a currency that rose more than 20 per cent since early 2003 and "there is probably some more adjustment to go".
Venezuela ratifies central bank president
Venezuela's National Assembly has ratified by simple majority, President Hugo Chavez' nomination of Gaston Parra Luzardo as the new president of the Central Bank of Venezuela (BCV).
Bank of Mexico sets minimum loan rate
The central bank of Mexico has set a minimum overnight rate to banks for the first time since 1998, suggesting it may adopt an interest-rate targeting system similar to the Fed.
China rejects US threat on yuan
A threatened US bill which would give China six months to revalue its exchange rate before facing sanctions was criticised by the Foreign Ministry as the wrong way to handle the situation.
Yemen holds course on money laundering
The Central Bank of Yemen held a training course on 30 January, on combating money laundering, using electronic banking processes, and investment funds.
Sveriges Riksbank Economic Review 4th Quarter 2004
The Sveriges Riksbank published its Economic Review for the 4th Quarter 2004 on Thursday 3 February. The latest issue contains an address by the Riksbank Governor "A decade of inflation targeting".
US Treasury's Snow to miss G7 meeting
US Treasury Secretary John Snow will not attend the meeting of Group of Seven finance ministers in London this weekend, as he has a chest cold.
ECB press conference with questions and answers
The ECB kept interest rates on hold on Thursday 3 February; Jean-Claude Trichet said that economic conditions are likely to improve.
Federal Reserve boosts key interest rate to 2.5%
The Federal Open Market Committee decided on Wednesday 2 February to raise its target for the federal funds rate by 25 basis points to 2-1/2 per cent. In a press release the FOMC said the economy is growing "at a moderate pace despite the rise in energy…
Richmond Fed's Lacker: Technology & labor markets
In a speech on 'Technology and labor markets' given on 18 January, Jeffrey Lacker of the Federal Reserve Bank of Richmond said technology improvements, not trade, have been the driving force behind US wage and job trends in recent years.
Bank of Japan bill auction fails
The FT reported on Wednesday 2 February that the Bank of Japan failed to attract enough offers in a bill-buying operation for the first time in nearly two and a half years.
BB to introduce automated cheque clearing system
The Bangladesh Bank (BB) is introducing an automated cheque clearing system in its clearing house to quicken the process and boost transactions in commercial banks.
Fed expected to raise rates on 2 Feb
Federal Reserve policymakers were widely expected to agree on a quarter-point increase in interest rates on Wednesday 2 February. The Federal Open Market Committee was expected to issue a statement at the conclusion of the session at about 2015GMT.
Germany expects few ex rate developments at G7
The German government does not expect any significant developments on exchange rate policies at the upcoming Group of Seven (G7) meeting of industrialised nations, AFX quoted sources as saying.
G7 wants to reuse old forex language says Taylor
John Taylor, US Treasury undersecretary for international affairs, has said that the G7 finance ministers and central bank governors want to stick to the script on foreign exchange developments that was first used at a meeting in Boca Raton in February…
Bollard on New Zealand's potential growth rate
In a speech on 'New Zealand's potential growth rate' given on 28 January, Alan Bollard of the Reserve Bank of New Zealand said that if we want to see New Zealand's GDP per capita grow at the same rate over the next decade as it did in the previous ten…
Central Bank of Ireland, Quarterly Bulletin 1/2005
The Irish central bank published its first Quarterly Bulletin of 2005 on Tuesday 1 February. The Bulletin reports that the outlook for the Irish economy in 2005 remains positive; the Bank is forecasting GNP growth for 2005 of about 4.75 per cent (GDP 5…
Update on initiatives to combat money laundering
The Joint Forum published an update to "Initiatives by the BCBS, IAIS and IOSCO to combat money laundering and the financing of terrorism" on Tuesday 1 February. Compiled from contributions by each of the three Secretariats, it focuses on recent guidance…