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Zimbabwe closes seventh troubled bank
Zimbabwe's central bank shut commercial bank CFX over the weekend, bringing the total number of closures in 2004 to seven, as problems in the country's financial system continue.
Bundesbank holds back on gold sales
The Bundesbank announced on Monday 20 December that it would not be exercising an option to sell 120 tonnes of its gold reserves. This followed earlier speculation that it was under pressure from the German government, who wanted to use gold sales to…
A not-so-merry Christmas message
Giving the Henry Thornton lecture at the Cass Business School in London on Wednesday 15 December, the economic historian Barry Eichengreen gave his view on the international financial system, and issued a worrying warning to those that downplay the…
Federal Reserve to release minutes earlier
The Federal Reserve said this week that it would begin releasing minutes from its FOMC interest rate meetings about a month earlier than it has been.
Bank of Japan downgrades economic assessment
The Bank of Japan downgraded its assessment of the country's sluggish economy on Friday in its latest monthly report, while the central bank's governor said steel shortages were compounding the economic slowdown.
Dutch central bank raises 2004 growth outlook
The Dutch central bank has raised its forecast for economic growth this year to 1.2 pct, while cutting the forecast for 2005 to 1.7 pct, the bank said in its latest quarterly report.
Germans long for DM return
Six years after the introduction of the euro, more than half of all Germans want a return to the days of the national Deutschemark, a report published this week said.
Bank of Canada appoints deputy governor
The Board of Directors of the Bank of Canada announced on Friday 17 december the appointment of Tiff Macklem as Deputy Governor of the Bank and a member of the Bank's Governing Council, effective from 29 December.
IMF paper on central bank governance
This IMF Working Paper published on Friday 17 December identifies issues to consider when designing the structure, size, and composition of the governing boards and management of a central bank. While central bank autonomy and accountability are…
Greenspan will not replace Snow at US Treasury
Reports this week said Alan Greenspan will not be the one to head the US Treasury after John Snow leaves. An approach to the Fed chairman was made at arm's length but has been declined by senior Republicans.
White House may pick Bernanke for advisers' panel
The White House is considering appointing Federal Reserve Board member Ben S. Bernanke to be chairman of the president's Council of Economic Advisers, officials confirmed on Thursday 16 December according to the Washington Post.
Veteran appointed to Ukraine's central bank
Volodymyr Stelmakh, who headed Ukraine's Central Bank between 2000 and 2002, secured overwhelming approval from parliament on Thursday 16 December to return as the bank's new chairman.
Denmark's Andersen to step down Oct 2005
The governor of Denmark's central bank, Bodil Nyboe Andersen, has informed the government that she wishes to retire in October, 2005, when she turns 65.
Brazil urges charges against former central banker
A congressional report published on Tuesday 14 December recommended that Brazil's former central bank president Gustavo Franco and others be indicted on money laundering charges.
Unions to oppose Bank of France agreement
Four unions which represent 72 per cent of staff at the Bank of France have said they will oppose an employment agreement signed by managers and minority unions, Le Monde reported.
Slovak gov't to nominate Barto NBS vice-governor
Martin Barto, currently a board member of the National Bank of Slovakia (NBS), is to be nominated by the Slovak government to serve as the central bank's vice-governor, according to Finance Ministry spokesman Peter Papanek.
New distribution of work at Sveriges Riksbank
On 14 December the Executive Board of the Riksbank decided to implement a number of changes in the Board's distribution of work. The decision is part of a process of change that, among other things, aims to clarify the responsibilities between the…
SNB's Roth on life in a two-headed monetary system
In a speech on 'Life in a two-headed monetary system: The Swiss experience' given on 29 November, Jean-Pierre Roth of the Swiss National Bank said the birth of the euro has fundamentally changed the shape of the international monetary system with the…
Mboweni on the South African banking sector
In a speech on 'The South African banking sector: An overview of the past 10 years' given on 14 December, Tito Mboweni of the South African Reserve Bank said the presence of international banks in South Africa's banking retail sector would benefit…
Sweden's Heikensten on economic governance in EMU
In a speech on 'Strengthening economic governance in the EMU - A comment' given on 15 December, Lars Heikensten of the Sveriges Riksbank said better and more efficient methods of following up Member States' public finances are needed. Budget discipline…
Bank of England Quarterly Bulletin, Winter 2004
The Bank of England released its Quarterly Bulletin Winter 2004, on 17 December. In the report the bank said it has underestimated the strength of the pound in the past 18 months, while another article concludes that UK household debt "remains affordable…
FOMC Minutes, 10 November
Minutes from the Federal Reserve's 10 November FOMC meeting released on 16 December revealed that policy makers wrestled with the best way to foreshadow the course of short-term interest rates.
French fin min hints over ECB intervention
The newly appointed French finance minister, Herve Gaymard, warned in an interview that the US dollar's weakness is "very worrying" and suggested possible intervention by the European Central Bank.
Qatar to launch Payment Gateway early next year
Qatar's Central Bank (QCB) has said is will launch its Payment Gateway in early 2005 which will boost and ease e-commerce and e-transactions in Qatar.