Central Banks
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 July-September 2005, the U.S. monetary authorities did not intervene in the foreign exchange markets during the quarter.
Interview with PBOC's Tang Xu
In an interview published on Wednesday 2 November, Tang Xu, director-general of the research bureau of the People's Bank of China, said China's economy has already achieved its long-awaited landing even with growth rates around 9 percent.
Swaziland appoints new board member
Finance Minister Majozi Sithole has appointed Swaziland Finance and Development Corporation CEO Vincent Mhlanga to the Central Bank of Swaziland's Board of Directors.
Ireland's Hurley ranked tops for pay
Central Bank of Ireland governor John Hurley was listed as the third-highest paid governor in the twelve-nation eurozone this week, even though he leads the smallest central bank.
Lazear may replace Bernanke on Advisory Council
US President George W Bush may replace Ben Bernanke with Edward Lazear as chairman of the White House Council of Economic Advisers, a report quoted sources as saying.
With Bernanke at bat, Fed will target inflation
According to this recent article, Ben Bernanke will devote significant staff resources to further study on issues he has spoken and written about, when he takes over at the Fed. And the advantages of his approach will become overwhelming enough in the…
Former World Bank chief moves to Citigroup
Citigroup said this week that James D. Wolfensohn, 71, who left as president of the World Bank last spring after 10 years at the helm, would serve as a global strategy adviser to senior management and clients.
Further rapid fx reserve rise undesirable - PBOC
A further rapid increase in Chinese foreign exchange reserves is undesirable, an official with the People's Bank of China told Market News.
Greenspan questions gold holding, notes usefulness
In testimony to Congress on Thursday 3 November Alan Greenspan said why the Fed holds gold is a very interesting question and it's one that has been debated at length on rare occasions within government.
New deputy governor appointed to ECCB
Trevor Brathwaite, Permanent Secretary, Ministry of Finance, International Financial Services and Economic Affairs, St Lucia, was appointed Deputy Governor of the Eastern Caribbean Central Bank (ECCB) this week.
Fed may be on road to neutral monetary policy
The Federal Open Market Committee will make the 13th consecutive rate increase at its next meeting on 13 December, as it continues on its way to the so-called neutral level, according to this article published on Wednesday 2 November.
Russia's gold, fx reserves exceed foreign debt
The Central Bank of Russia's gold and foreign currency reserves considerably exceed the state foreign debt and total more than $150 billion, President Vladimir Putin has said.
Minutes from the Sveriges Riksbank Meeting, 19 Oct
The Sveriges Riksbank published the minutes from its 19 October Executive Board meeting on 31 October. The slowdown in the Swedish economy at the beginning of the year was temporary and growth in private consumption had started to increase, the minutes…
CB of Ireland's Financial Stability Report 2005
The Central Bank of Ireland published its annual Financial Stability Report on Tuesday 1 November. The Report concludes that the Irish banking system is in a good state of health and is reasonably well placed to cope with adverse developments in the…
Fed raises rates, maintains 'measured' pace
The Federal Open Market Committee decided on Tuesday 1 November to raise its target for the federal funds rate by 25 basis points to 4 percent. In its statement the FOMC kept its 'measured' stance for removing policy accommodation and warned that energy…
Norges Bank increases interest rates by 0.25%
Norges Bank's Executive Board decided on Wednesday 2 November to raise the sight deposit rate by 0.25 percentage point to 2.25 per cent with effect from 3 November. Output growth is high and may in isolation suggest a more rapid increase in the interest…
PBOC to expand yuan settlement operations in HK
China's central bank will allow expanded yuan-denominated business in Hong Kong after technical preparations are completed, the People's Bank of China said on Tuesday 1 November.
ECB's Issing on money's role in monetary policy
In the speech 'The role of money in the monetary policy strategy of the ECB' given on 28 October Otmar Issing of the ECB said the acceleration in eurozone M3 money supply growth seen over the past year is likely to increase inflation pressures in the…
Sweden's Heikensten: Monetary policy and academics
In the speech 'Monetary policy and the academics' given on 28 October Lars Heikensten of the Sveriges Riksbank said there is no doubt that the problems central bankers face and the practical experiences they gain also have been, and still are, an…
Venezuela's Chavez plans $5 bn reserves spend
Venezuelan President Hugo Chavez said in a TV broadcast that he plans to take an additional $5 billion in reserves from the central bank next year in order to boost spending on various projects.
PBOC issues new rules on electronic payments
The People's Bank of China has issued new rules regarding electronic payments designed to minimize transaction risk.
China forex reserves expected to hit $820 bn
China's foreign exchange reserves are expected to total $820 billion by the end of 2005 on strong trade inflows, an economist at a government think tank said.
Comment: Japan sees return to normal
Japan's monetary policymakers yesterday delivered another instalment of what is becoming an increasingly confident message: after seven years of deflation, they expect prices to start rising again early next year.
Bank of Israel lowers pay for new workers
The Bank of Israel will pay new workers 30 per cent less than current employees, under an agreement reached between the central bank, its workers union and the Finance Ministry.