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Brazil c bank staff strike, trading system crashes
A strike on Wednesday 23 July saw workers stay away from the central bank of Brazil as employees protested at planned cuts to pension benefits, according to a Bloomberg report. In what was described as an unrelated event, the computer system for bond and…
Governor of Bulgaria's central bank elected Sept
Latest estimates suggest Bulgaria will elect a new central bank governor in September, says Novinite. The farce which has dragged on for weeks looks set for completion then, Stanimir Ilchev, floor leader of the ruling Simeon II National Movement, said on…
Dinkic bids farewell
Speaking at a press conference to mark the end of his term as governor of the National Bank of Serbia Mladjan Dinkic urged the government and prime minister against interfering in monetary politics and commenting publicly on the state of the dinar,…
ECB's Issing - No risk of inflation or deflation
Neither deflation nor inflation present risks for the eurozone economy at the moment. That was the assessment of Otmar Issing on Wednesday 23 July, according to Reuters, but if deflationary concerns emerge the ECB is ready to take various preventive…
Economy minister may take over at Peru c bank
Peru's president Alejandro Toledo may be planning further changes to his cabinet with Economy and Finance Minister Javier Silva touted as a replacement to Richard Webb at the central bank, Bloomberg reports.
Interview with IMF Managing Director Horst Kohler
In an interview on "We Should Not Lose More Time" with Germany's manager magazin, IMF MD Horst Kohler talks about ways out of the world economy crisis. He is also asked if the Americans and the Japanese might be trying to solve their problems by…
Ferguson on Basel II: Scope of Application in US
In a speech on 'Basel II: Scope of Application in the United States' Roger Ferguson of the Federal Reserve said we anticipate that U.S. banking organizations that account for 99 percent of the foreign assets and two-thirds of all assets of our domestic…
McTeer speech to the Risk Management Association
In a speech before the Risk Management Association Bob McTeer of the Federal Reserve Bank of Dallas said the main reasons for expecting a stronger recovery are the prolonged and massive monetary easing, fiscal policy's move toward expansion, lean…
BoJ's Fujiwara - Inside a Monetary Policy Meeting
In a speech on 'Inside a Monetary Policy Meeting' Sakuya Fujiwara of the Bank of Japan said transparency of the Bank of Japan's conduct of monetary policy has been enhanced by Monetary Policy Meetings. I attach special importance to increasing the…
RBNZ reduces OCR to 5.0 per cent
The Reserve Bank of New Zealand knocked a quarter percent off its main OCR interest rate Thursday. Governor Alan Bollard said on balance a further reduction seems appropriate today, with evidence continuing to suggest slowing economic activity.
Reappointments to the RBA's Payments System Board
Australian Treasurer Peter Costello announced the reappointment of three members to the Reserve Bank of Australia's Payments System Board (PSB), 24 July.
John Footman in key Bank role
The new Bank of England governor, Mervyn King, has set about selecting his top team and slotting people into jobs.
Mervyn King looks up Sylvia Hotpants
Some people have been tempted to ask, "Do we need a new Bretton Woods"? According to Mervyn King, the answer is clearly "no". Why? Well, there are dangers in them woods. "My mother said, I never should, play with the gypsies in the woods". Especially if…
Tietmeyer to open doors for Lazard's
Hans Tietmeyer, former president of Germany's Bundesbank, has joined Lazard's as a senior adviser. The appointment gives a boost to Lazard's position in Germany, where the bank has been adding senior staff over the past year.
McTeer, the Lonesome Dove
While many have criticised the Fed for being not being dovish enough by only cutting rates by a quarter point, this has not spoiled Bob McTeer's good humour.
Dinkic goes down fighting
If the situation in Peru seems a little unstable, spare a thought for the devastation visited on Serbia's fledgling central bank. The government's use of a legislative blunderbuss to remove Mladjan Dinkic has triggered a sort of apocalyptic self…
"Upside down world" in Peru
Peru's central bank is in a state of flux. Its governor, Richard Webb, has abruptly resigned, lamenting to CentralBankNet that the central bank is caught up in "an upside down world". Webb's flight was prompted by unworkable differences between himself…
BoJ willing to take risks to fight deflation
Giving a lecture in Tokyo on Wednesday 23 July, Bank of Japan governor Toshihiko Fukui signalled a willingness to fight Japan's economic slump made worse by deflation. Associated Press reports that Fukui said the BoJ "is willing to take unlimited risks…
Deutsche Bundesbank Monthly Report, June 2003
The Deutsche Bundesbank published the English version of its June 2003 monthly report on 17 July. Price developments in the past few months have been affected by falling oil prices, the report said. The recently observable rise in the prices quoted on…
Fed's Bernanke - An Unwelcome Fall in Inflation?
In the speech 'An Unwelcome Fall in Inflation?' given on 23 July Ben Bernanke of the Federal Reserve said in a world in which inflation risks are no longer one-sided, and short-term nominal interest rates are at historical lows, the success of monetary…
Serbia names Udovicki as new central bank governor
Kori Udovicki was appointed governor of the National Bank of Serbia (NBS) at a late session of parliament on Tuesday 22 July, the Finanial times reports. She was educated at Yale and pledged to boost ties between the NBS and the government. Udovicki is…
'Stars are aligned' for U.S. economy- Fed's McTeer
Dallas Fed chief Bob McTeer said on Tuesday 22 July that factors are in place to see a recovery in the US economy and non-inflationary growth could be as much as 5 percent, according to Reuters. "I think all the stars are aligned for the economy to pick…
Korean parliament to push BOK reforms
The Korean parliament's Finance and Economy Committee was set to discuss revisions to the law governing the Bank of Korea on Wednesday after a sub-committee met Tuesday, according to a report by Yonhap News.
Bank of Canada's Dodge sees room to cut rates
Bank of Canada governor David Dodge said the Canadian economy appears likely to grow less rapidly than expected, according to Reuters, at least until September this year and perhaps a bit beyond, until business investment grows.