Central Banks
PBOC deputy governor Li steps down
Li Ruogu has stepped down as deputy governor of China's central bank, Xinhua reported this week, citing the State Council.
Bank of Canada Monetary Policy Report Update
The Bank of Canada released its July Monetary Policy Report Update on 15 July. The Bank said it expects Canada's economy to grow by about 2.7 per cent in 2005 and 3.3 per cent in 2006.
Gonzalez-Paramo on outlook for financial stability
In the speech 'The outlook for financial stability in the euro area' given on 14 July, Jose Manuel Gonzalez-Paramo of the ECB said there is still a risk of a disruptive correction of the large US current account deficit.
Fed's Santomero on a consumer-driven expansion
In the speech 'The implications of a consumer-driven expansion' given on 13 July, Anthony Santomero of the Federal Reserve Bank of Philadelphia said the Federal Reserve is likely to continue tightening monetary policy at a measured pace, but it depends…
BSP's Tetangco on continuity in a time of change
In the speech 'Continuity in a time of change' given on 4 July Amando Tetangco of the Bangko Sentral ng Pilipinas said the BSP story of the last six years is ending today with a considerable amount of success.
Greece's Garganas on ECB's single monetary policy
In the speech 'Adjusting to the single monetary policy of the ECB' given on 24 June, Nicholas Garganas of the Bank of Greece said recent events have given rise to some populist rhetoric about the wisdom of a single currency within Europe.
Phil Fed president recognized as global citizen
The Global Interdependence Center (GIC) has presented Dr. Anthony M. Santomero, president of the Federal Reserve Bank of Philadelphia, with its 2005 Global Citizen Award for his contributions to the global economy in the areas of public policy, business,…
China says no timetable for yuan move
The US administration has told key senators that it expects China to revalue the yuan in August before President Hu Jintao visits Washington in September, the Financial Times reported on Friday 15 July.
Wellink does not expect ECB rate cut
Dutch central bank president Nout Wellink said in an interview he does not expect the European Central Bank to have to cut interest rates.
Tanigaki says govt, BOJ share same view on economy
Japan's Finance Minister Sadakazu Tanigaki said on Friday 15 July that the economy is extending a recovery as rising corporate profits buoy consumer spending.
New bill will establish Central Bank of Kosova
In July, a new draft regulation for the Banking and Payment Authority of Kosovo (BPK) will be announced which will rename the BPK the Central Bank of Kosova.
HKMA says currency peg changes have worked well
An advisory body to the Hong Kong Monetary Authority (HKMA) has said the refinements that the HKMA introduced in May to Hong Kong's more than 20-year-old fixed currency peg have so far worked smoothly.
ECB publishes statistical classification
The European Central Bank published a "Statistical classification of financial markets instruments" for the first time on Tuesday 12 July.
RBNZ's new bond lending facility
The Reserve Bank of New Zealand announced on Thursday 14 July that, as from 18 July 2005, it will operate a bond lending facility.
ECB Monthly Bulletin, July 2005
The European Central Bank published its July 2005 Monthly Bulletin on Thursday 14 July. The report said there is not yet any sign that a sustained economic recovery has started in the euro zone.
ECB's Gonzalez-Paramo on European Monetary Union
In the speech 'European Monetary Union. Where do we stand?' given on 13 July Jose Manuel Gonzalez-Paramo of the ECB said judging from the experience to date, the euro currency has been an unquestionable success - euro area price stability being the best…
RBI's Leeladhar on risk management
In the speech 'Regulation and risk management: Implementing Basel II' given on 9 July, Shri V Leeladhar of the Reserve Bank of India said that the future of the Indian banking industry belonged to a small number of large banks and not to a large number…
Bank of France live with central banking platform
Trema, a provider of treasury and asset management software for global corporations and financial institutions, announced on Thursday 14 July that the Banque de France is now live with Trema's central banking solution.
RBI: Global uncertainities higher than estimates
Y V Reddy, Governor of Reserve Bank of India, said on Thursday 14 July that global economic uncertainities had surpassed earlier estimates, but maintained that the central bank would stick to the "basic projections" until the review of monetary policy.
Zeti says ringgit peg not deterring investment
The Malaysian ringgit's fixed exchange rate system has not discouraged European countries from investing in the country nor curbed growth in trade, central bank governor Zeti Akhtar Aziz said.
BoE's Barker says inflation hike not a big worry
Bank of England monetary policymaker Kate Barker said on Wednesday 13 July that the central bank is not overly worried by a jump in inflation to a seven-year high in June.
ECB's Issing says oil clouding inflation outlook
European Central Bank chief economist Otmar Issing has said the inflation outlook for the euro zone has deteriorated in the past month.
Good/bad deflation and Japanese economic recovery
The Discussion Paper "Good deflation/bad deflation and Japanese economic recovery" says economic history suggests that technological progress can go hand in hand with general deflation. It finds that short-run shocks to Japan's relative price structure…