Central Banks
Ferguson - Economic challenges facing US and Japan
In a speech on 'Uncertain Times: Economic Challenges Facing the United States and Japan' Roger Ferguson of the Federal Reserve described the country's near-term economic prospects as "still somewhat clouded" and said "preventing deflation remains…
Speculation RBI's Jalan will leave c bank early
Reserve Bank of India governor Bimal Jalan's may depart from the RBI before the end of his tenure, Rediff.com reports. Speculation surrounds his possible successor, with former deputy governor Y Venugopal Reddy mentioned as a possible candidate.
KJ Udeshi named RBI's first woman deputy governor
The Reserve Bank of India has appointed Ms KJ Udeshi as a deputy governor. She becomes the first woman to hold the post of deputy governor and replaces GP Muniappan who retired on May 31.
Polish fin min demands Bank reserves later resigns
Poland's finance minister Grzegorz Kolodko on Wednesday called for an additional 5bn zlotys from the revaluation reserve of the central bank to go to the 2004 budget, a move the central bank governor firmly rejected. However, Kolodko later resigned after…
Serb leaders question c b's Dinkic's performance
A report on Radio B92, Belgrade says Serbian National Bank governor no longer enjoys political support. The report accuses Dinkic of using his position for the interests of his party, and claims that his party, G17 Plus, has been discouraging foreign…
Kenya c bank plans Moi-portrait notes phasing out
The central bank of Kenya plans to introduce new banknotes bearing the portrait of founding President Jomo Kenyatta, according to a report on the daily Nation website.
Estonian central bank looks forward to euro
The president of the Bank of Estonia, Vahur Kraft, has set 2006 as the time "horizon" for Estonia in terms of joining the euro, according to a report by Estonian Radio.
Duisenberg biography dredges up 'dim' past
A new biography of European Central Bank president Wim Duisenberg by two Dutch journalists reveals the central banker's unhappiness at the IMF in the 1960s, courtesy of a small and badly-lit room, according to the Financial Times.
Irish central bank seeks firm to mint euro coins
Strong demand and hoarding of coins has prompted the central bank of Ireland to seek a foreign firm to mint 100 million euro coins, the Irish Times reports. In December, the bank financed an advertising campaign to persuade people to stop hoarding small…
Bank of Japan Monetary Policy Meeting, 11 June
The Bank of Japan announced unchanged guidelines at the end of its two day meeting on 11 June.
Greenspan on natural gas supply and demand issues
In testimonyto the Committee on Energy and Commerce, U.S. House of representatives, on 'Natural gas supply and demand issues' Alan Greenspan of the Federal Reserve said high natural gas prices are likely to last into next year, and could weaken some key…
Duisenberg on structural reform and mon policy
In a speech on 'Structural reform and its implications for monetary policy' Wim Duisenberg of the European Central Bank said labour market reforms are urgently needed if euro zone economic growth is to recover strongly as some countries are hampered by…
Santomero-Flexible commitment or inflation target?
In a speech on 'Flexible Commitment or Inflation Targeting for the U.S.?' Anthony Santomero of the Philadelphia Fed said "I believe the (Federal Open Market Committee) should seriously consider inflation targeting".
Central Bank of Turkey - Annual Report 2002
The Central Bank of Turkey has published its Annual Report for the year ended 2002. In spite of the political uncertainty and the November elections, the financial stability maintained throughout the year supported economic recovery, the report says.
Fed Reserve Bank of Dallas - Annual Report 2002
The Federal Reserve Bank of Dallas has published its Annual Report for the year ended 2002. Following the 2001 recession, the report says, economic activity expanded throughout 2002, but not vigorously enough to sustain or promote employment growth…
Japan's central bank to buy securities
The Bank of Japan has decided to buy asset-backed securities, according to a Reuters report. Before this it had restricted its purchases to government bonds, which carry less risk than securities. The bank said the scheme could start as early as next…
Germany's inflation falls to 0.7 percent
Inflation in Germany fell to 0.7 percent in May, the lowest rate in over 3 years, according to Associated Press. The figures released on Wednesday June 11 showed the rate fell by 0.3 percent from 1 percent in April.
Chikaura set to take over as RBZ governor
The acting governor of the Reserve Bank of Zimbabwe (RBZ), Charles Chikaura, may take over as a permanent replacement to Leonard Tsumba who resigned last week amid the country's bank note crisis. The Daily News reported that candidates from the private…
Luxembourg's Mersch visits Malta central bank
The governor of central bank of Luxembourg visited Malta's central bank on Monday June 9 as part of a networking policy, designed to establish close working relationships with the central banks of both EU member States and accession countries, according…
"Too important for central bankers"
Central banks' ruthless pursuit of price stability holds back economic growth and boosts unemployment, says Joseph Stiglitz in an article published in the Guardian on Tuesday June 10.
NZ's Bollard boosts inflation guidelines
Appearing before a parliamentary select committee Reserve Bank of New Zealand Governor Alan Bollard said the changes made to the bank's inflation targeting guidelines last year may have helped the RBNZ begin its easing of interest rates in April,…
Malaysia PM - Reserve level up to central bank
Malaysian prime minister Mahathir Mohamad has said that the level of reserves the country's central bank holds is up to it to decide. "I think Bank Negara is managing its reserves very well," he said, as reported by the New Straits Times.
Bulgaria delays election of central bank governor
The Bulgarian parliament has delayed its decision to appoint a new governor to the central bank by a week, according to BG News. The decision made on Tuesday 10 June was blamed on disagreements in the ruling coalition on whom to nominate for the post.
Fed and Bank of Mexico announce clearing system
The Federal Reserve and the Banco de Mexico on Tuesday 10 June announced a new clearing-house system that will lower transaction costs for banks handling an estimated $200bn in commercial payments and remittances each year, according to a report in the…