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Brazil appoints new central bank chief
Luiz Inacio Lula da Silva, Brazil's leftwing president-elect, who takes office on January 1, on Thursday nominated experienced Harvard-trained banker, Henrique Meirelles, to head the central bank.
Interview - Toshihiko Fukui, former dep gov of BoJ
INTERVIEW - The Bank of Japan will maintain a bias toward easing monetary policy to avert any concerns of tightening liquidity in financial markets and promote expectations of a stable financial environment, a front-runner in the race to be the next BOJ…
Solans on accession country financial developments
SPEECH - In the speech 'The relevance of financial sector developments for accession countries' Eugenio Domingo Solans of the ECB said although a new era of financial development in accession countries is now in full swing, the challenges ahead are still…
Remsperger on Germany at the Crossroads
SPEECH - In the speech 'Germany at the Crossroads' Hermann Remsperger of the Deutsche Bundesbank said with regard to wage rate policy, the Bundesbank repeatedly makes clear that the rate of inflation in Germany is lower than the euro-area average. The…
Ukraine parl't fail to sack c banker amid fighting
Ukrainian Supreme Council (parliament) chairman Volodymyr Lytvyn closed the parliamentary sitting on Thursday because of scuffles in the session hall. Members of parliament were due to vote on the president's request to agree to the dismissal of…
Brazil appoints new central bank chief
Brazil's President-elect Luiz Inacio Lula da Silva has appointed former FleetBoston executive Henrique Meirelles to head the nation's central bank, ending weeks of intense speculation.
ECB may issue €1 note to help curb price rises
The European Central Bank is to discuss the idea of introducing one euro banknotes as a possible way to curb inflation. However, the high velocity of circulation of low value notes coupled with higher production costs would make this an expensive option.
BOJ buys Y71bn worth of stocks from banks
The Bank of Japan (BOJ) had purchased 71.16 billion yen worth of stocks held by commercial banks as of Tuesday 10 December on a delivery-completed basis, the central bank said in a report released Thursday.
China needs to free up gold mkt - Gold Council
China needs to free up its gold market further to give locals an alternative form of investment, the World Gold Council has said. Recently CentralBankNet reported how the WGC had welcomed the successful launch of trading in physical gold on the new…
ECB cuts growth outlook, with ongoing uncertainty
The European Central Bank Thursday slashed its forecasts for growth in coming years, citing the "persistently high degree of uncertainty" as the main reason. The publication of the ECB's monthly report reveals more on the motivation for its recent half…
Iraqi central bank to hold conference
The 2nd banking conference organised by Central Bank Of Iraq will begin on Saturday and run for two days.
GCC central bank idea to figure in Dubai talks
The proposal to create a central bank representing all the Gulf Cooperation Council states will top the agenda of a major "GCC Banking Forum" to be organized in Dubai by the six Gulf states on 12 January 2003. The event will also address other key issues…
Central Banker, Winter 2002
REPORT - The Winter 2002 edition of the St. Louis Fed's Central Banker magazine has been published. This edition includes articles on the new senior vice president in the Banking Supervision and Regulation Division at the St Louis Fed, Julie Stackhouse…
Bank of Brazil, Focus Report
REPORT - Focus Report on Consumer Price Inflation in November, 11 December.
Spillenkothen on the lessons of Enron
SPEECH - In testimony 'Oversight of investment banks' response to the lessons of Enron' Richard Spillenkothen, Director, Division of Banking Supervision and Regulation said the fallout from the recent round of excesses and large corporate defaults…
ECB Monthly Bulletin, December 2002
REPORT - The European Central Bank published its December 2002 Monthly Bulletin on 12 December. In the report the ECB says the decision of its Governing Council to reduce interest rates last week reflected their assessment that the evidence has increased…
Bank of England Financial Stability Review, Dec 02
REPORT - The Bank of England published its Financial Stability Review for December 2002, Issue 13, on 12 December. It contains the Bank's regular half-yearly assessment of risks to financial stability, together with a number of articles including " The…
A new general approach to capital adequacy?
ARTICLE - The Centre for the Study of Financial Innovation on Tuesday released a proposal aimed at replacing the Basel committee's new capital adequacy proposal. CentralBankNet attended the press conference.
Japan's Koizumi: Need deflation-fighter at BOJ
INTERVIEW - Japanese Prime Minister Junichiro Koizumi said Wednesday the nation needs a bold deflation-fighter to lead the central bank when the current governor's term ends in March, underscoring the concerns falling prices continue to eat away at the…
Australian credit-card case clears first hurdle
The potential complexity of Visa and MasterCard's landmark legal action against the Reserve Bank of Australia over credit-card reforms was underscored on Wednesday when the parties spent the day resolving how confidential information from 50 third…
Russian Duma approves monetary policy guidelines
The State Duma, Russia's lower house of parliament, approved the 2003 monetary policy guidelines at its plenary session on Wednesday.
Sweden's former central bank chiefs oppose euro
Following Swedish prime minister Goran Persson's decision to set a date last month for Swedes to vote on the euro, two former central bank governors have come out in opposition to membership of the single currency.
Growth fears push Norway to cut interest rates
Norway's central bank surprised economists and cut interest rates on Wednesday as growth concerns outweighed stubborn wage inflation. Business leaders had called for a cut to kickstart the economy. The Bank's accompanying press release appeared to…
Ukrainian central banker speaks on dismissal plan
INTERVIEW - Last week, parliament refused to dismiss Ukraine's central bank head, Volodymyr Stelmakh, in spite of a request to do so by President Leonid Kuchma. Parliament is expected to vote on Stelmakh's fate again on 12 December. In an interview…