Central Banks
PBOC to increase bank card business
China's central bank and other related government agencies have developed guidelines and measures to accelerate the development of the burgeoning bank card industry.
Joint Indo-Russian seminar to begin in Moscow
The Reserve Bank of India (RBI) and Russian central bank, along with Vneshtorgbank, are organising the first ever Indo-Russian banking seminar in Moscow to devise joint strategies to control money laundering.
China ready for currency flexibility says US
US Treasury Secretary John Snow said "now is the time" for China to change its currency system, but there is no indication that the Chinese feel the same sense of urgency.
Hong Kong foreign currency reserves increase
Hong Kong's foreign currency reserve assets stood at 122.6 bln usd at end-April, up from 122.4 bln at the end of March, the Hong Kong Monetary Authority (HKMA) said.
Iran's central bank independece not in sight
Independence for the Central Bank of Iran is unlikely to take place any time soon, according to a government minister.
RBA's fragile independence
This article published on Thursday 5 May says that although discussion is an integral tool in setting monetary policy, the jawboning should be the domain of the governor of the Reserve Bank of Australia. Unfortunately, over the past six months, the…
Ireland's Hurley on monetary and financial issues
In a speech on 'The monetary and financial environment in the euro area' given on 11 April, John Hurley of the Central Bank of Ireland said that recent data suggests the euro area's economy is unlikely to strengthen soon.
Hildebrand on lessons from the SNB's gold sales
In a speech on 'SNB gold sales - Lessons and experiences' given on 5 May, Philipp Hildebrand of the Swiss National Bank said the Swiss National Bank completed its gold selling program of 1300 tonnes on March 30, 2005. Before these sales, Switzerland's…
Dodge on the Canadian economy and economic forces
In a speech on 'The Canadian Economy: Adjusting to Global Economic Forces' given on 6 May, David Dodge of the Bank of Canada said Canada's economy is adjusting to powerful forces at work in the global economy, including the emergence of China and India…
RBA on payments system reform in Australia
In a speech on 'Payments System Reform: The Australian Experience' given on 6 May, Philip Lowe and Ian Macfarlane of the RBA said it is fair to say that having specific payment system legislation with responsibility assigned to the central bank has led…
BOJ's Fukui says zero rate policy stays
Bank of Japan governor Toshihiko Fukui said on Sunday 8 May that the BOJ will maintain its fight against deflation despite favourable signs in the economy, but the current policy won't last indefinitely.
East Africa moving towards currency union
Central bank governors from the East African Community (EAC) member states of Kenya, Uganda and Tanzania agreed at the weekend to work towards monetary union.
ECB's Garganas sees no reason for rate hike
European Central Bank council member Nicholas Garganas said in an interview that there is no need for the bank to start raising interest rates until inflation pressures increase.
G10's Trichet sees 2005 global growth around 4%
G10 chairman Jean-Claude Trichet said following a meeting of central bank governors on Monday 9 May that they still expect global growth to be around 4 pct this year despite recent mixed signals from economic data.
PBOC deputy says economy performing well
People's Bank of China Deputy Governor Li Ruogu said on Monday 9 May that the Chinese economy is performing well and added that he was satisfied with the inflation rate.
IMF's Krueger on trade policy and global insertion
In a speech on 'Trade policy and the strategy for global insertion' given on 19 April, Anne Krueger of the IMF said Latin America, like most parts of the world, is currently experiencing more buoyant growth than it has seen for some time.
Fed's blunder should make Asia green with envy
This article published on Thursday 5 May says no policy maker in Asia can claim to match the Fed's mastery over "open mouth operations". Where many of the Asian central banks go wrong is in thinking they'll get more respect from the market by being…
RBA Statement on Monetary Policy, May 2005
The Reserve Bank of Australia published its May 2005 Statement on Monetary Policy on 6 May. The global economic upswing is continuing in 2005 with growth being led mainly by the United States and China, the report says.
Bank of England appoints Head of Internal Audit
The Bank of England announced on Thursday 5 May that Stephen Brown has been appointed Head of Internal Audit with effect from 4 July.
Election to Danmarks Nationalbank's Board
Denmark's Folketinget (Parliament) has elected Ms Helle Thorning-Schmidt and Mr Henrik Sass Larsen to the Board of Directors of Danmarks Nationalbank until 31 March 2006.
SCH bank appoints former Bank of Spain governor
Luis Angel Rojo, who was governor of the Bank of Spain between 1992 and 2000, has been appointed to the board of directors of Spanish bank Santander Central Hispano (SCH).