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Brazil's Meirelles given cabinet status
The president of the Central Bank of Brazil, Henrique Meirelles, has been granted cabinet status in a further development to allegations of his financial misconduct by the national press.
Russia issues forecasts on 2005
The Russian government will continue to target both the exchange rate and inflation next year because its economy is not ready for a free-floating ruble. At the same time, forecasts show a potential boost to the economy from revenues caused by high oil…
Thai leader shows support for central bank chief
At a press conference on Friday 14 August, the Thai prime minister, Thaksin Shinawatra, quashed speculation that he would replace the governor of the Bank of Thailand over problems in the banking sector.
Sweden's Heikensten on inflation
In a speech on economic developments and inflation prospects, given on August 16, Sweden's central bank governor Lars Heikensten said that the Riksbank's assessment of inflation and economic activity had not significantly altered since its last inflation…
Slovakia budget points to euro entry hopes
Slovakia is hoping to adopt the euro in January 2009, according to a report on the new draft budget, depending on inflation and government finances being kept under control.
India moves to reform government securities market
The Reserve Bank of India may soon lose its position as exclusive banker to the Government of India, reports Business Standard. If the Government Securities Act, which will replace the 1944 Public Debt Act, is passed by parliament, other banks will be…
Hungary cuts rates by half percent
The central bank of Hungary reduced the base rate by half a percentage point, from 11.5 percent to 11 percent, when it met on 16 August. While the central bank pointed to improvements in the economy as the cause, it is thought that a desire to weaken the…
ECB's Guy Quaden says no rate rise
In an interview with L'Echo on 12 August, Guy Quaden offered reassurances that the ECB had no plans to raise interest rates in the immediate future.
Brazil leaves rates unchanged
Brazil's central bank decided to leave its interest rate at 16 per cent, as the country's economic recovery starts to result in rising inflation.
South Africa's Mboweni on challenges in Africa
In a speech on 'Challenges of central banking in Africa' given on 5 August, T T Mboweni, Governor of the South African Reserve Bank, spoke about how the traditional challenges facing central banks apply to African countries, what effet circumstances…
Minutes of Bank of England MPC, August
Minutes from the Bank of England's Monetary Policy Committee revealed a unanimous decision to raise interest rates in August, but indicate that the UK may be approaching the end of the series of rate rises which began in November 2003.
China's issues warning on inflation
China's central bank sees some effects from its attempts to combat rising inflation, but bad debts remain a problem.
Hungary cuts rates by half percent
The central bank of Hungary reduced the base rate by half a percentage point, from 11.5 pe rcent to 11 per cent, when it met on 16 August. While the central bank pointed to improvements in the economy as the cause, it is thought that a desire to weaken…
Bank to take market view
Hidden within the Bank of England's most recent inflation report is a significant tweaking of the Bank's inflation targeting stance. CentralBankNet reports on the Bank's adoption of market forecasts of interest rates for some of its projections.
Madagascar reports difficult economic conditions
A disputed presidential election meant a difficult 2002 for Madagascar's central bank. In its recently published annual report for that year the central bank discusses the impact of these problems and its actions in combating them.
SARB announces changes to its MPC
The composition of the South African Reserve Bank's Monetary Policy Committee has been changed to allow for two senior staff members of the SARB to become members. A.D. Mminele, Head of Financial Markets and Dr M. Mnyande, Head of Research and Senior…
Give RBZ autonomy, IMF tells Zimbabwe
The International Monetary Fund (IMF) said in a Working Paper that the Reserve Bank of Zimbabwe (RBZ) needs to be independent from government to achieve its policy objectives.
Brazil's central bankers strike for second day
Eighty per cent of Brazilian central bank employees went on strike for a second day in demand of a pay rise, central bank spokesman Jocimar Nastari was quoted as saying this week.
Goh becomes chairman of MAS
Lee Hsien Loong, who became Singapore's third prime minister on Thursday 12 August, will remain as finance minister, but his predecessor Goh Chok Tong is to take over as chairman of the Monetary Authority of Singapore.
Interview with ECB's Lucas Papademos
In an interview published by Il Sole 24 Ore this week, vice President of the European Central Bank Lucas Papademos said that since last April the ECB has preferred to cease using the word "appropriate" so as to dispel the impression that had prevailed in…
Former auditing chief appointed to PBOC dep gov
Xiang Junbo, the former deputy auditor-general of National Audit Office (NAO), has been appointed vice governor of People's Bank of China, an official at the central bank press office said.
Peru's Silva may head for IMF
Chairman of the Central Bank of Peru, Javier Silva Ruete, may leave his job and head for the IMF in Washington, Gestion newspaper reported this week, citing Economy and Finance Minister Pedro-Pablo Kuczynski.
Poland to up its economic growth forecast
The Polish government is set to raise its forecast for 2004 growth in gross domestic product, the PAP news agency reported on Friday 13 August.
IMF says Turkey's cb independence important
A report on Turkey's performance under the most recent International Monetary Fund-supported economic program praised Turkey and its central bank for reducing the inflation rate to single-digits.