Central Banks

Split may be developing over choice of RBZ chief

A split is emerging in Robert Mugabe's government over who should succeed outgoing reserve bank governor Leonard Tsumba at the Reserve Bank of Zimbabwe (RBZ). The Financial Gazette reports a number of camps have emerged within Mugabe's top leadership on…

Talks over Bulgaria's central bank head drawn out

After a second round of talks on Friday the decision on the election of a new governor of the Bulgarian national bank will resume next week. Novinite reported one of the two nominees for governor - Ivan Iskrov, gained a lead ahead of current governor…

RBA's credit card court case draws to a close

The Reserve Bank of Australia's (RBA) six-week long Federal Court case with Visa and MasterCard over credit card reforms closed on Friday 27 June. Justice Brian Tamberlin said he hoped to deliver his judgement in two months.

ECB won't follow Fed on rates - Duisenberg

Speaking on German TV, Wim Duisenberg said euro zone interest rates were currently appropriate, Reuters reports, and that the ECB would not follow the lead of the US Federal Reserve by cutting interest rates soon.

Fed should focus on systemic risk from banks-Stern

Minneapolis Fed President Gary Stern said in an article on regulatory reform this week that "Risk is not evenly distributed across banks", according to a report from Reuters, and that the largest banks, or those focused on payments system processing,…

Minutes show some on FOMC wanted rate cut in May

Minutes from the Fed's May 6 policy meeting, reported by the Washington Post, showed that members would not wait indefinitely for the clouds to clear before lowering rates again in response to falling inflation rates and sluggish economic growth. The…

'Money in Motion' from the Philadelphia Fed

"Money in Motion" is a new financial and historical exhibition that is free, fun, and interactive. The exhibit's 16 displays feature interactive games, rare artifacts, and historical narrative that trace the history of money and central banking in the U…

Bank of England Financial Stability Review, Jun 03

The Bank of England published its latest Financial Stability Review for June 2003 on Thursday 26 June. It contains the Bank's regular half-yearly review of risks to financial stability and measures taken to strengthen the financial infrastructure,…

Koehler : IMF to seek new accord with Argentina

IMF chief Horst Koehler has said the Fund will start negotiations over a new aid accord with Argentina. Speaking to reporters in Buenos Aires he said the agreement would seek to restore Argentina's financial institutions, according to a Bloomberg report.

Bank of Ghana to commence downsizing soon

The Bank of Ghana is aiming for "a lean, more focused and responsive central bank" and said that the planned disengagement of staff would be done in "a humane manner", Ghana Web reports. "The Bank is offering a generous and attractive early retirement…

Polish c bank head calls for EU to speed reform

The head of Poland's national bank on Wednesday 25 june urged the EU to pressurize Poland and other states to speed up economic reform, according to the Financial Times. He urged Poland, Hungary and the Czech Republic to cut their high fiscal deficits.

Bank chief warns on Croatia's growing foreign debt

The governor of the Croatian national bank warned that the country's growing foreign debt was weakening the financial system, according to the HINA news agency. Speaking before parliament on Thursday 26 June, he said the external debt had reached 17.4bn…

Fed cuts funds rate to lowest level since 1958

The Federal Reserve's 13th rate cut on Wednesday 25 Junecould be the last in a cycle that began in January 2001, analysts said, according to Associated Press. However, the Fed signalled its intention to avoid the threat of deflation, suggesting rates…

RBNZ's New Zealand CPI Inflation Calculator

The Reserve Bank of New Zealand has created a way by which you can easily work out what something which, for example, your grandparents bought for 2 pounds back in 1935 would cost today. It's "The New Zealand CPI Inflation Calculator". A quick check…

Philadelphia Fed Business Review, 2nd Quarter 2003

The Federal Reserve Bank of Philadelphia has published its regular Business Review for the Second Quarter 2003. In the first article President Anthony Santomero asks: What is the root of the corporate governance problems that have recently gained the…

St Louis's Central Banker, Summer 2003

The Summer 2003 edition of the St. Louis Fed's Central Banker magazine has been published. The latest issue carries a feature about the St Louis Fed's "There's a Lot to Learn about Money" campaign. The Fed and the Treasury are once again teaming up to…

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