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Strong euro does not require rate cut - Buba
According to Hermann Remsperger, the Bundesbank's chief economist, the ECB does not need to cut eurozone interest rates to stimulate domestic demand. The ECB's rate-setting Governing Council is due to meet on Thursday 5 February.
Italy's cabinet approves regulatory reform bill
Prime Minister Silvio Berlusconi's cabinet approved a draft law on Tuesday 3 February to reform Italy's financial regulatory system, effectively leaving the Bank of Italy with a veto over banking mergers.
Court told Bank knew BCCI's 'dubious reputation'
The High Court in London was told on Monday 2 February that the Bank of England was aware that the collapsed Bank of Credit and Commerce International had an "appalling reputation" and that other banks "wouldn't touch BCCI with a barge-pole" before…
Eastern Caribbean Central Bank- Annual Report 2003
The Eastern Caribbean Central Bank has published its Annual Report for the financial year 2002-2003. In his Foreword EECB governor K Dwight Venner said the Eastern Caribbean currency union experienced a challenging year with economic indicators mirroring…
Kohler on adoption of the euro in Central Europe
In a speech on 'The Euro - Towards Adopting the Common Currency in Central Europe' given on 2 February, Horst Kohler of the IMF said that imbalances in the global current account remain a risk to economic recovery though a stronger euro and weaker dollar…
Nyberg on developments in the Swedish economy
Sveriges Riksbank Deputy Governor Lars Nyberg spoke to the Swedish Shareholders' Association last week. Nyberg said that although the dollar has weakened due to developments in the US trade and budget deficits it was generally considered to be have been…
Bank of Canada unveils new $100 bank note
The Bank of Canada has unveiled Canada's new $100 bank note, which will go into circulation beginning 17 March. David Dodge said all Canadians can use the new notes "with comfort and with pride".
ECB's Padoa-Schioppa on exchange rate issues
In a speech on 'Exchange rate issues relating to the acceding countries' given on 2 February, Tommaso Padoa-Schioppa of the ECB said a smooth participation in ERM II will require that the overall policies of participating Member States are consistent and…
Tanigaki says Japan could increase gold holdings
Japan's Finance Minister Sadakazu Tanigaki said in response to a parliamentary question that Japan may consider increasing its gold reserves to bring them more into line with levels elsewhere.
Banking foundation considers Bank of Italy stake
Italy's leading banking foundation could consider taking a stake in the Bank of Italy, according to Giuseppe Guzzetti, chairman of the Cariplo foundation.
Court rejects Bank of Israel's petition
The Bank of Israel suffered a setback on Sunday 1 February when the High Court of Justice refused to block treasury intervention in the central bank's wages policy.
Chavez presses Venezuela's cen bank on funds
Venezuelan President Hugo Chavez repeated on Sunday 1 February demands that that the central bank complete its commitments to release reserves to finance the state revival of the nation's flagging farm industry.
Authorities considering independence for HKMA
Financial secretary Henry Tang has introduced the possibility that the Hong Kong Monetary Authority could gain full independence.
RBNZ's Bollard on asset prices and monetary policy
In a speech on 'Asset prices and Monetary Policy' given on 30 January, Alan Bollard of the Reserve Bank of New Zealand said he would be willing to use monetary policy "to constrain extreme asset price bubbles," but that the current situation with housing…
RBNZ prepared to constrain asset bubbles
The Reserve Bank of New Zealand revealed on Friday 30 January that in rare circumstance it is prepared to adjust monetary policy to constrain extreme asset price bubbles, whereas normally the Reserve Bank is only required to ensure consumer price…
Wellink on prospects for the European economy
In a speech on 'Prospects for the European economy' given on 27 January, Nout Wellink of De Nederlandsche Bank said he was optimistic about the prospects for the European economy.
Sweden's Rosenberg on current monetary policy
In a speech on 'The current monetary policy situation' given on 29 January, Irma Rosenberg of the Sveriges Riksbank said that the information received so far since December does not appear to significantly alter the picture of a recovery in economic…
Central banks in the dock: lessons from BCCI
As the Bank of England begins its marathon court case over its handling of the failure of BCCI, CentralBankNet spoke to Charles Proctor about the lessons for other regulators.
Basel: Changes to the securitisation framework
In response to public comments on the third consultative paper (CP3) of the New Basel Accord, the Basel Committee on Banking Supervision announced in October 2003 plans to revise the internal ratings-based (IRB) approach to securitisation exposures. The…
Brazil's Copom held rates over inflation fears
Brazil's monetary policy committee (Copom) minutes said that a majority of members decided to leave rates unchanged last week fearing that the inflation hike could go beyond January.
Solbes warns on rising euro danger
European Economic and Monetary Affairs Commissioner Pedro Solbes said on Friday 30 January that the continued appreciation of the euro could affect business confidence in the eurozone.
Israel's Klein may take Treasury to court
The Bank of Israel is expected to file a petition with the High Court on Friday against Finance Ministry Wages Director Yuval Rachlevksy, claiming he has no authority to meddle in wage decisions at the central bank.
Japan's deflation improving, not ending: Fukui
Japan's deflationary trend is easing but there no sign exists yet of it ending entirely, Bank of Japan Governor Toshihiko Fukui said on Friday 30 January.
BOJ's Muto says weak dollar behind easing
Deputy Governor of the Bank of Japan Toshiro Muto said on Friday 30 January that the BOJ needed to pay attention to the effects of a weak dollar and that those effects were in mind when it decided to further ease monetary policy recently.