Central Banks
BoE voted 8-1 to hold rates
The Bank of England's policy-making Monetary Policy Committee voted 8-1 to keep UK interest rates unchanged this month, with Stephen Nickell again as the sole member calling for a reduction.
Fed can't rule out more rate rises
Minutes from the Federal Reserve's 31 January FOMC meeting released on Tuesday 21 February showed Fed officials felt a 14th straight increase in interest rates last month put borrowing costs near where they needed to be, but they could not rule out more…
Roger Ferguson resigns from Fed Board
In a surprise move, Roger Ferguson, Jr. submitted his resignationon Wednesday 22 February as Vice Chairman and as a member of the Board of Governors of the Federal Reserve System, effective April 28, 2006.
Nigeria introduces new Forex system
Nigeria introduced the new wholesale Dutch Auction System (DAS) of foreign exchange allocation on Monday 20 February to replace the old retail DAS in a bid to further liberalise the country's Forex system.
Solomon Islands to repay central bank debt
The Solomon Islands government has signed a deal that will restructure and repay a part of its $US30 million debt with the country's central bank.
Buba worried re cash supply after Heros insolvency
The Bundesbank has called on local branches to lengthen their operating hours after a money-transport company which accounts for around 50 per cent of the German money transport sector filed for insolvency.
Trichet calls Stark a 'remarkable person'
European Central Bank President Jean-Claude Trichet described Bundesbank Vice President Juergen Stark as a remarkable candidate for the ECB's Executive Board on Monday 20 February .
Hong Kong may build gold warehouse for China
Hong Kong may soon build a bonded warehouse at its airport to store gold and make the Chinese territory a regional trading hub while feeding rising demand from mainland China, industry officials were quoted as saying on Tuesday 21 February.
Comment: Sepa progress report
In its fourth progress report on the Single Euro Payments Area (Sepa) the ECB says it "expects the European Payments Council (EPC) to take overall responsibility for defining and implementing a monitoring framework for each phase of the migration process…
Towards a Single Euro Payments Area - 4th report
In its fourth progress report on the Single Euro Payments Area (SEPA), published Friday, the Governing Council of the ECB defined the final SEPA objectives.
IMF Paper on forecasting ECB monetary policy
Monetary policy in the euro area is conducted within a multicountry, multicultural, and multilingual context involving multiple central banking traditions. This IMF Working Paper published February 2006 asks how this heterogeneity affects the ability of…
New Zealand's new coins introduced on 31 July
The Reserve Bank of New Zealand announced on Monday 20 February that New Zealand's new 50, 20 and 10 cent coins will be introduced on 31 July 2006.
Garganas says eurozone inflation risks increased
Greek central bank governor Nicholas Garganas said on Friday 17 February that since December's hike in eurozone interest rates, inflation pressures have increased, partly due to rising oil prices.
Comment: Bundesbank stands firm
Leading members of the German parliament are very upset about the refusal of the Bundesbank even to talk about the sale of its gold reserves. In what is turning into a litmus test of its independence, the German central bank has, thus far, stood firm.
Chavez demands more BCV reserves
President Hugo Chavez' government has asked the Central Bank of Venezuela (BCV) for a new transfer of surplus official reserves to the executive branch.
Bank of England Payment Systems Oversight Report
The Bank of England published its second Payment Systems Oversight Report on Friday. It contains the Bank's latest assessment of UK payment systems against the internationally-recognised Core Principles for Systemically Important Payment Systems.
St Louis Fed's Poole on inflation targeting
In the speech 'Inflation targeting' given on 16 February William Poole of the Federal Reserve Bank of St. Louis said an explicit inflation target would help the Federal Reserve do a better job of anchoring expectations and ensuring low and stable prices.
Fed's Pianalto says growth, stability go together
Cleveland Fed president Sandra Pianalto said Thursday 16 February that the Federal Reserve's twin objectives of price stability and growth go hand in hand.
Senate panel approves Kroszner, Warsh to Fed
The Senate Banking Committee on Thursday 16 February approved the nominations of Randall Kroszner and Kevin Warsh to be members of the Federal Reserve's board of governors.
Bundesbank gold sale rule change dropped
The German government and the Bundesbank have agreed to end a long-running squabble over the use of Germany's gold reserves, the finance ministry announced.
Riksbank appoints new director of communications
At its meeting Friday 17 February, the Executive Board of the Riksbank appointed Pernilla Meyersson new Director of Communications.
Comment: Payment system risks
While few would regard Britain's large-value payment system as risky - over its ten-year life, the system has suffered no major scares - how the system will bear up in a crisis or time of market stress is a cause for concern.
Balcerowicz concerned over NBP regulations
In an interview for the Gazeta Wyborcza daily, the president of the National Bank of Poland Leszek Balcerowicz, presented the central bank's standpoint on the Pekao-Bank BPH merger and ideas to broaden the responsibility of the NBP.
Bernanke: Greenspan speeches don't violate ethics
Fed chairman Ben Bernanke said his predecessor, Alan Greenspan, has not violated any central bank or federal government ethics rules as a result of his recent series of private speeches since leaving his post on 1 February