Central Banks
Renminbi Settlement System goes live
The Hong Kong Monetary Authority (HKMA) and the Bank of China (Hong Kong) Limited (BOCHK) jointly announced on Thursday 2 March the launch of the new Renminbi Settlement System (RSS) on 6 March 2006.
Papademos to be named ECB chief economist - report
European Central Bank (ECB) vice president Lucas Papademos will replace Otmar Issing as chief economist in May, the Sueddeutsche Zeitung reported, citing unnamed sources close to the bank.
ECB poses no objection to Stark's appointment
At Thursday's meeting, 2 March, the Governing Council of the ECB adopted an opinion on a recommendation from the Council of the European Union on the appointment of a new member of the Executive Board of the ECB.
ECB raises rates, says more rises are possible
The European Central Bank raised its benchmark interest rate on Thursday 2 March for the second time in three months and suggested more hikes are possible as economic growth and inflation accelerate.
Report says BOJ considering 'reference rate'
The Bank of Japan is considering setting a 'reference rate' on inflation to guide markets on its monetary policy intentions, Jiji Press and other media reported.
ECB paper on the euro cash changeover
The ECB Working Paper "Rational inattention, inflation developments and perceptions after the euro cash changeover" uses the euro cash changeover to test theories of finite information-processing capacities on the side of consumers.
HKMA's Yam on the euro
In the speech 'The euro: Lessons for European and Asian financial markets' given on 24 February Joseph Yam of the HKMA said the integration of financial markets in the Asia-Pacific region can be accelerated if financial and monetary authorities in the…
NY Fed's Geithner on risk management challenges
In the speech 'Risk management challenges in the U.S. financial system' given on 28 February Timothy Geithner of the Federal Reserve Bank of New York said complex securities like derivatives make the global financial system increasingly vulnerable, and…
Fed's Kroszner sworn in
Randall S. Kroszner took the oath of office on Wednesday 1 March as a member of the Board of Governors of the Federal Reserve System.
Gold rally expected as central banks cut sales
Gold may rally in coming months as central banks reduce sales of bullion reserves, New York commodity researcher CPM Group said in its annual outlook report released Tuesday 28 February.
PBOC official sees slow dollar reserves shift
The director of the People's Bank of China's research department said on Tuesday 28 February that although China is moving toward diversifying its reserves, anyone thinking the change would be quick was misunderstanding the process.
BoE says payment covers all stolen notes
The Bank of England said on Friday 24 February that the £25 million payment made by Securitas on Wednesday covers all the stolen notes belonging to the central bank.
Japan's PM says govt would tolerate BOJ shift
Japanese Prime Minister Junichiro Koizumi indicated on Monday 27 February that the government would be prepared to tolerate a move by the Bank of Japan in lifting its ultra-easy policy as early as March.
Economist calls for cut in China's dollar reserves
Economics professor Xiao Zhuoji said in an interview published on Monday 27 February that China should cut its share dollars in its foreign exchange reserves due to risks posed by the dollar's instability.
Fed's Warsh sworn in
Kevin Warsh took the oath of office as a member of the Board of Governors of the Federal Reserve System on Friday 24 February.
ECB launches 'Legal Working Paper' series
The European Central Bank on Friday launched the publication of a Legal Working Paper series. The contributors to the Legal Working Paper series are lawyers from within the ECB, as well as lawyers who have otherwise contributed to the ECB's legal…
Greenspan may work with WSJ columnist on book
Former Federal Reserve Chairman Alan Greenspan and David Wessel, the Wall Street Journal's deputy Washington bureau chief and author of the paper's Capital column, have talked about collaborating on a book, according to Dow Jones.
Bank of England switches auditors
The Bank of England has decided to offer its audit work to Big Four rival KPMG, ending one of PricewaterhouseCoopers longest running audit contracts.
Comment: Zimbabwe's mystery repayment
Two weeks ago the Zimbabwean government managed to avoid expulsion from the IMF by paying off a large chunk of its debt to the Fund. However, the source of the forex-depleted government's finances remains a mystery.
ECB's Tumpel-Gugerell on the Lisbon Agenda
In the speech 'The Lisbon Agenda - what can banks contribute?' given on 23 February Gertrude Tumpel-Gugerell of the ECB said the creation of a single eurozone payments area will not just reduce banks' revenues but will also cut their costs.
Biggest UK robbery promps BoE security review
The Bank of England is to review security for banknote storage following Britain's biggest ever robbery at a cash centre in Kent that may have netted the thieves between £40-50 million.
Poland's Samoobrona calls for sackable NBP head
Poland's Self Defence (Samoobrona) party has presented amendments to its draft act on the National Bank of Poland (NBP).
New York Fed's Foreign Exchange Operations Report
According to the Federal Reserve Bank of New York's Treasury and Federal Reserve Foreign Exchange Operations quarterly report for October-December 2005, the U.S. monetary authorities did not intervene in the foreign exchange markets during the October -…
Reservations about reserves
According to this article published on Sunday19 February, a race is unfolding in Asia involving currency reserves. The favourite in this game of monetary one-upmanship is China, it says.