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Solomons cb wants parliament to discuss economy
Rick Hou, governor of the Solomon Islands central bank, has called on parliament to arrange a meeting to discuss the problems facing the country. He described the country's fiscal situation as drifting into deeper water, according to Solomon Islands…
Pakistan pledges to train Afghan bankers
The head of the central bank of Afghanistan Anwar Ahadi arrived in Pakistan on Sunday on a mission to boost economic cooperation between the two countries, according to a report by the Voice of the Islamic Republic of Iran.
Turkish PM blames central bank over exchange rate
The Turkish prime minister has apparently laid blame for the fall in the countries exchange rate at the door of the central bank, according to NTV Televsion, Turkey. He said that having to cut interest rates made it even more difficult to raise the…
Putin speaks of Russia's 'considerable' reserves
Asked at a news conference whether he preferred the dollar or the euro Russian President Vladimir Putin said his favourite was "the rouble", according to the Interfax news agency. He also spoke of the considerable increase in reserves held by the central…
Fed governor sees no deflation threat in US
Federal Reserve governor Ben Bernanke said on Saturday May 31 that the prospects for the US economy were good and expected growth in the second half of this year of between 3.0 and 3.5 percent, rising to four percent in 2004, according to Channel News…
SF Fed's Parry on prospects for the US economy
In a speech on 'Prospects for the National and Local Economies: A Monetary Policymaker's View' Robert Parry of the Federal Reserve Bank of San Francisco said we have seen continuing job losses, little strength in business investment, and most of the…
Senior appointment made at the RBA
The Reserve Bank of Australia announced the appointment of Chris Ryan as Head of Domestic Markets Department on 2 June.
BIS announce launch of the Asian Bond Fund
The Bank for International Settlements (BIS) announced the launch of the Asian Bond Fund (ABF) on 2 June. Speaking at the launch BIS General Manager Malcolm Knight described the ABF as a significant step in fostering regional cooperation in Asia.
BIS Quarterly Review, June 2003
In its June quarterly review, the BIS said that investors had become fed up with low returns on government bonds and moved to higher yielding corporate or emerging market debt, particularly in countries like Brazil and Turkey.
Fed's Bernanke on monetary policy in Japan
In a speech on 'Some Thoughts on Monetary Policy in Japan' Ben Bernanke of the Federal Reserve said the US economy does not face an immediate threat of deflation but slowing inflation means the major world economies must remain on guard. On the Japanese…
Survey says number of forex players may fall
A future with fewer players in the global foreign exchange market is the main finding of a new survey, says a report by Chris Swann, former foreign exchange correspondent at the Financial Times. CentralBankNet takes a look at the main findings of the…
Korean economy in serious condition: BOK governor
Governor Park Seung of the Bank of Korea said on Thursday 29 May that low growth and high unemployment pose a threat to the economy which has been heading toward a downturn since the third quarter of last year, according to the Korea Times.
Japan conducts record FX intervention
May saw the Bank of Japan's largest ever monthly intervention in the foreign exchange markets using Y3,900bn to halt the Yen's rise, the Financial Times reported.
Regulator considers bailout of China banks
The China Banking Regulatory Commission said on Thursday 29 May that time is running out for lenders to reduce the levels of nonperforming loans and if this did not happen a bailout of the industry may be considered, according to a report by Reuters.
Dubai to ban protestors from IMF-World Bank mtg
The Dubai authorities have said they will prevent protestors from entering the UAE during the September 2003 joint meeting of the World Bank and International Monetary Fund, according to Sapa-AFP. Up to 20,000 people, including around 25 heads of state…
IMF's Rogoff – dollar decline a good thing
Ken Rogoff, the iMF's chief economist, welcomed the fall in the dollar on Thursday 29 May, saying it is good for the world economy but may pose problems for Germany with deflation, according to a Reuters report.
IMF's Kohler proposes Carstens as deputy MD
IMF Managing Director Horst Kohler proposeed the appointment of Mexico's Deputy Secretary of Finance Agustin Carstens as Deputy Managing Director of the IMF, 29 May.
Thai central bank chief: Baht is now stable
Thailand's central bank governor said on Friday 30 May that the baht has gained stability against the dollar following its recent appreciation, according to Dow Jones.
Zimbabwe central bank prints emergency cash
Zimbabwe's bank note producers are working non-stop to bring an end to the cash shortage after extra printing paper arrived in Harare on Thursday. The governor of the central bank told Zimbabweans not to panic, the BBC reported.
Bangladesh currency, the taka, to float
From Saturday 31 May Bangladesh will float the taka freely on the foreign exchange markets, the BBC reported. The announcement on Thursday came after the government agreed to a proposal to float made by the International Monetary Fund (IMF).
Copom blames inflation for interest rate inaction
The central bank of Brazil said on Thursday 29 May that its decision to hold interest rates last week was down to "persistent inflation". AEBrazil reported that minutes released by the bank said it is premature to conclude that inflationary pressure has…
Swedish central bank issues commemorative coins
Sveriges Riksbank issues commemorative coins to commemorate the 700th anniversary of the birth of Saint Birgitta, 27 May 2003
Chicago Fed National Activity Index, April 2003
CFNAI Shows Economy Weak in April - The Chicago Fed National Activity Index declined in April, with the monthly index coming in at -0.85. Weak employment- and production-related data were the main factors behind April's negative reading. Although the…
Deflation is a "matter of national choice"
In an article published in the Financial Times Avinash Persaud says attempts by the Japanese to inflate their economy fail because Japan is a nation of creditors.