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Woman tries to spend fake $1 million note
A US woman was charged with forgery this week after trying to spend a $1 million bank note in a Georgia supermarket. Staff refused to accept the note or hand over her $998,328.45 in change (if they had it!) and called the manager.
RBZ head Gono receives death threats
The head of the Reserve Bank of Zimbabwe, Gideon Gono, picked by President Robert Mugabe to lead the government's anti-corruption drive, has claimed he has received death threats from corrupt businessmen and politicians, a newspaper reported this week.
Bangladesh Bank denies IMF advisor controls it
Bangladesh Bank (BB) this week brushed aside an allegation that the International Monetary Fund was dictating to it through an IMF official recently installed as advisor to the governor.
ECB mourns Spanish bomb victims
In Frankfurt on Thursday 11 March, about 150 employees of the European Central Bank gathered before the bank headquarters in a memorial service for the victims of the Madrid bombing.
Padoa Schioppa gets honorary law degree
Tommaso Padoa Schioppa was due to receive an honorary law degree on Friday 12 March in a ceremony at the University of Bari.
Matti Vanhala to retire on disability pension
The Bank of Finland announced on Thursday 11 March that Governor Matti Vanhala will retire from 1 April. Deputy Governor Matti Louekoski will assume his responsibilities until a replacement is found.
Heads of EurAsEC central banks to meet in Belarus
The 9th meeting of the Council of chairmen of the central banks of the Eurasian Economic Community (EurAsEC) member states is expected to start in Minsk on March 12, the National Bank of Belarus (NBB) said on Thursday 11 March.
Norway cuts interest rates further
Norges Bank cut its key interest rate on Thursday 11 March by 0.25 per cent to a new record low of 1.75 per cent to spur inflation in the oil-dependent economy. It was the tenth time that Norway has cut its main rate since it was at 7 per cent in…
Greenspan on education
In testimony on education given to the House Education and Workforce Committee on 11 March Alan Greenspan of the Federal Reserve said that "employment will begin to increase before long," and that protectionist trade barriers were not the answer to…
China to keep close watch on monetary policy
People's Bank of China governor Zhou Xiaochuan told a press conference that the PBOC will "keep a close watch" on the effects of monetary policy, and did not rule out the possibility of an increase in interest rates later this year.
PBOC says China to keep yuan 'basically stable'
The People's Bank of China said on Thursday 11 March that it will keep the exchange rate of the yuan "basically stable," despite continued pressure to allow it to float freely.
Japan's Fukui: rough road until end of deflation
Bank of Japan Governor Toshihiko Fukui said on Thursday 11 March that he saw a "rough road ahead" until the end of deflation despite signs of recovery in the Japanese economy, repeating the BOJ's commitment to an easing policy.
ECB's Welteke: risks to eurozone economy remain
Bundesbank President and European Central Bank governing council member Ernst Welteke said on Thursday 11 March that he saw a higher risk that the economy could deteriorate rather than improve.
ECB's Noyer sees upturn in French economy
Bank of France governor Christian Noyer was quoted on Thursday 11 March as saying he had hopes that French growth could accelerate despite the strength of the euro.
ECB Monthly Bulletin, March 2004
The European Central Bank published its March 2004 Monthly Bulletin on 11 March. The Bulletin reported that the main scenario of a continued gradual recovery in the course of 2004 and 2005 remains valid.
RBNZ propose ability to intervene in forex market
The Reserve Bank of New Zealand on Thursday 11 March recommended to the Minister of Finance that, as one of its monetary policy implementation tools, it should have the capacity to intervene in the foreign exchange market to influence the level of the…
RBNZ leaves rates unchanged at 5.25 per cent
The Reserve Bank of New Zealand decided to leave the Official Cash Rate unchanged at 5.25 per cent on 11 March. Alan Bollard said the overall CPI inflation rate has so far been offset by weak imported inflation due to the rising NZ dollar exchange rate.
Report says Colombia should increase reserves
According to Colombia's banking association, the central bank should boost its international reserves by about $500 million to offset possible sudden capital outflows that would follow a US interest rate rise.
Argentina avoids new IMF debt default
Argentina's government made a $3.15 billion payment to the International Monetary Fund on Tuesday 9 March, averting a new debt default with the Fund.
Snow says Fed is wise to hold off rate rise
Alan Greenspan and his Federal Reserve colleagues have been "extraordinarily disciplined" and have not overreacted to signs of increased economic growth by raising interest rates, US Treasury Secretary John Snow has said.
Canada's Dodge on global economic change
In a speech on 'Adjusting to Global Economic Change' given on 10 March, David Dodge of the Bank of Canada said federal and provincial governments must pare their debts in his first public speech since cutting interest rates last week.
PBOC says advisable to maintain stable yuan
China's yuan exchange rate should be kept at a relatively stable level given the recent emergence of trade deficits, a People's Bank of China official said on Wednesday 10 March in an editorial in a China daily.
BOJ's Fukui supports Japan's forex intervention
Toshihiko Fukui said on Wednesday 10 March that he endorsed the Japanese government's foreign exchange intervention policy, saying it was in line with the Bank of Japan's own efforts to pull the economy out of deflation quagmire.
Vietnam and North Korea sign banking pact
The central banks of Vietnam and North Korea have signed a banking pact to boost bilateral trade, an official from North Korea's embassy in Hanoi said on Wednesday 10 March.