Central Banks
Belgium's central bank offloads 30 tonnes of gold
Belgium's central bank said on Wednesday 10 August it had sold 30 tonnes of gold in July and August, leading to an increase in the yield on its assets.
COMMENT BY CENTRALBANKNET
The fear that demand in many leading economies has been sustained only by a housing and real estate "bubble" is often seen as one of the biggest risks facing monetary policymakers.
Is Japan ready for 50-year debt?
The Japanese government bond market is the world's biggest, but also among the least international, according to this article published on Monday 8 August. Perhaps the U.S. Treasury's move to issue new 30-year debt early next year will encourage Japan to…
Malaysia reports reserve increase
The international reserves of Bank Negara surged to RM298.7 billion (US$78.7 billion) as at 29 July. This was a RM12.89 billion increase from the 15 July figure, the BNM said.
Study says euro could be top reserve by 2022
A paper published this week says the euro could replace the dollar as the world's dominant reserve currency within 20 years if Britain and other EU countries adopted the unit and the US currency continues to slide.
The future of EMU: one size fits none?
According to the forthcoming edition of Central Banking, inflation and output gap differentials have grown between European states since the inception of the EMU in 1999. If these continue to worsen, the resulting tensions would put a big strain on…
Christopher Cox sworn in as SEC chairman
With his wife Rebecca standing at his side, Christopher Cox took the oath of office to become the 28th Chairman of the Securities and Exchange Commission from Federal Reserve Chairman Alan Greenspan on Wednesday 3 August.
Wim Duisenberg
This obituary for former European Central Bank president Wim Duisenberg, who died on Sunday 31 July, contrasts his rough ride at the ECB with the high reputation he had enjoyed among fellow central bankers during his tenure as governor of the…
Rwandan Fin Min named to African Development Bank
Rwandan Finance Minister, Mr Donald Kaberuka (54) has been elected President of the African Development Bank Group (ADB) during the extraordinary Meeting of ADB Governors held on 21-22 July 2005 in Tunis.
Fed's Gramlich to join University of Michigan
The University of Michigan has selected Professor Edward Gramlich to serve as interim provost and executive vice president for academic affairs, effective 1 September, with approval from the university's board of regents.
White House may be considering Lindsey for Fed
The White House is expanding its search for a successor for Federal Reserve Chairman Alan Greenspan, according to a report Thursday, including former Bush adviser Lawrence Lindsey among the candidates.
Where does Greenspan keep HIS money?
Financial disclose forms released by the Federal Reserve recently show that chairman Alan Greenspan plays it safe when it comes to his own investments.
South Africa cuts dollar buying in July
Data released by the South African Reserve Bank (SARB) on Friday 5 August showed that it had lowered its dollar purchases in July.
Study says rupee almost pegged to dollar
A study presented to the Singapore Economic Review Conference on Friday 5 August suggests the Indian rupee is virtually pegged to the US dollar, despite the RBI saying it adopts a "managed float" for the currency.
RBI readies for a 'Reddy Era'
This article published Friday 5 August takes an in depth look at Reserve Bank of India governor Yaga Venugopal Reddy. Reddy always speaks his mind, it says, and favours a "consensus" approach to policy issues. He can master any subject and is a voracious…
Italy favours fixed term for central bank chief
According to Italy's economy undersecretary Maria Teresa Armosino the government is ready to set a fixed term of office for the Bank of Italy governor, rather than the life term that currently applies.
IMF statement on G-8 proposal for debt relief
Rodrigo de Rato, Managing Director of the International Monetary Fund, issued a statement after Wednesday's meeting to discuss the proposal for HIPC debt cancellation agreed by the G-8 Summit on 8 July.
HKMA's Pang on the Retail Bond Issue
In a speech given on 18 July Peter Pang of the Hong Kong Monetary Authority said the upcoming Retail Bond issue has both Hong Kong Dollar and US Dollar denominated notes. This is the first time that the HKMC issues US Dollar notes.
ECB 'Blue Book' on payment and settlement systems
The European Central Bank published the latest addendum to the June 2001 report entitled "Payment and securities settlement systems in the European Union" (third edition) on Tuesday.
Bank of England reduces rates by 0.25%
The Bank of England's Monetary Policy Committee voted on Thursday 4 August to reduce the Bank's repo rate by 0.25 percentage points to 4.5%.
Pressure on Asia to shift reserves
Asian central banks may have to shift up to $500 billion in reserves from dollars to euros and yen or risk foregoing $28 billion a year in potential revenue, according to a report published by Goldman Sachs Group.
Costello says RBA decision reflects solid growth
Treasurer Peter Costello said the Reserve Bank of Australia's decision to leave interest rates at 5.5 per cent after its monthly board meeting on Wednesday 3 August reflects continuing solid economic growth in the country.
Bank of England set to cut interest rates
The Bank of England is widely expected to reduce UK interest rates when it concludes its 100th Monetary Policy Committee meeting on Thursday 4 August.
ECB paper on large-value payment systems
The ECB Working Paper "Incorporating a 'public good factor' into the pricing of large-value payment systems" considers optimal pricing rules for a public large-value payment system (LVPS) that produces a public good (like prevention of systemic risk) but…