Central Banks
HKMA says real-time bond system ready 5-6 weeks
The real-time settlement system for yuan-denominated bond issues in Hong Kong will be ready in 5-6 weeks, HKMA chief executive Joseph Yam said in Beijing Tuesday 16 January.
ECB says Slovenia's euro switch successful
Two weeks after the introduction of the euro banknotes and coins, the cash changeover in Slovenia has been successfully finalised in accordance with the plans, the European Central Bank said Tuesday 16 January.
Russian central bank submits board candidates
The Bank of Russia has submitted Alexei Simanovsky and Mikhail Sukhov to the State Duma as candidates for vacant seats on the central bank's board of directors, Vyacheslav Reznik, chairman of the Duma committee for credit organizations and financial…
Sweden's Persson on monetary policy
In the speech 'Monetary policy - experiences and thoughts on the future' given on 13 January Kristina Persson of the Sveriges Riksbank said two professors, Francesco Giavazzi and Frederic Mishkin, have examined how well the Riksbank has succeeded with…
Venezuela plans using reserves to nationalize
This article from Bloomberg, published Thursday 11 January, looks at the recent decision to use Venezuela's international reserves to compensate owners of the telephone, oil and power companies under President Hugo Chavez's plans to nationalize.
Economy minister calls on BoJ to hold rates steady
Japan's economic and fiscal policy minister Hiroko Ota on Monday 15 January called for the Bank of Japan to hold interest rates unchanged ahead of its meeting this week.
EPCA conference scheduled for May
The 6th International European Payments Consulting Association (EPCA) Conference will be held in Frankfurt on 15 and 16 May 2007. This year's theme is 'Reshaping the European payment landscape: the realistic scenarios'.
Court sanctions arrest of Kozlov murder suspect
A Moscow court on Monday 15 January sanctioned the arrest of a banker detained last week in connection with the investigation into the murder of a senior Russian central bank official.
Fed's Bies on enterprise risk management
In the speech 'Enterprise risk management and mortgage lending' given on 11 January Susan Schmidt Bies of the Federal Reserve said looser underwriting standards were partly responsible for recent rises in late mortgage payments and that lenders should…
IMF paper on Kenya's monetary policy
The IMF Working Paper "A VAR analysis of Kenya's monetary policy transmission mechanism: How does the central bank's REPO rate affect the economy?" examines the impact of a monetary policy shock on output, prices, and the nominal effective exchange rate…
ECB says 265,000 counterfeit euro notes detected
The European Central Bank said Friday 12 January a total of 265,000 counterfeit euro banknotes were removed from circulation during the second half of last year.
Boston's Minehan says she will retire this year
Federal Reserve Bank of Boston president Cathy Minehan said Thursday 11 January she plans to retire later this year but will stay in place until her successor is named.
Bank of Japan seen leaning toward raising rates
The Bank of Japan is leaning towards raising interest rates at next week's policy board meeting, with consumer spending remaining firm and worries of a US economic slowdown receding, the Nikkei reported Friday 12 January, without citing sources.
Unpredictable Bank fails in mission to be dull
According to this article from Reuters, published Thursday 11 January, the Bank of England is failing miserably in its quest to be boring.
NY Fed's Geithner on the global economy
In the speech 'Developments in the global economy and implications for the United States' given on 11 January Timothy Geithner of the Federal Reserve Bank of New York said a large accumulation of dollars in official reserves has helped keep U.S. interest…
IMF paper on financial stability
The IMF Working Paper "Economic integration and financial stability: A European perspective" assesses changes in synchronization of real activity and financial market integration in Western Europe and evaluates their implications for financial stability.
Trichet says 'very close monitoring' on price risk
European Central Bank president Jean-Claude Trichet told a press conference on Thursday 11 January that the ECB will act in a "firm and timely manner" to ensure price stability but did not reintroduce a commitment to exercise "vigilance" on inflation…
A reassuring Reserve
According to this article from the Financial Times, published Thursday 11 January, the Federal Reserve's decision to halt its series of interest rate rises in June last year now looks to have been correct.
BoE surprises markets with rate rise
The Bank of England unexpectedly raised interest rates by a quarter-point on Thursday 11 January, the third increase since August, saying inflation may accelerate.
Kansas Fed's update to ATM and debit card guide
The Federal Reserve Bank of Kansas City published the 2006 update to "A Guide to the ATM and Debit Card Industry" on 8 January. The three years since the original book was published have been a very dynamic time in the industry with a number of important…
PBOC chief wants more data before decision
Chinese central bank governor Zhou Xiaochuan said on Wednesday 10 January in comments to Reuters he was waiting to see more economic data before making any decision to change interest rates.
Yilmaz on Turkey's monetary & exchange rate policy
In the speech 'Turkey's monetary and exchange rate policy for 2007' given on 13 December Durmus Yilmaz of the Central Bank of Turkey said the central bank deems the stability and development of financial markets as a supporting objective for the…
Oman to keep 80% dollar reserves
Oman favours keeping most of its $5 billion of central bank reserves in dollars rather than euros because the US currency pays higher interest, the central bank governor was quoted by Reuters as saying.
China considering economic super agency
China's state media reported Tuesday 9 January the country will mull a new financial super inter-agency to manage its five trillion dollars held in the nation's various state-run financial institutions.