Central Banks
HKMA Quarterly Bulletin, March 2005
The Hong Kong Monetary Authority has published the March 2005 issue of its Quarterly Bulletin. This issue includes a graphical framework for monitoring the property market in Hong Kong - concluding that the risk of a property bubble developing in Hong…
Additional reference exchange rates for the euro
The European Central Bank said on Tuesday 29 March that it has decided to extend the list of currencies for which daily reference exchange rates are published. As from 1 April it will in addition compute and publish euro reference exchange rates on a…
IMF will announce gold sale plan in April - report
The International Monetary Fund plans to make proposals in April regarding selling or re-valuing some of its gold reserves, a German press report said on Tuesday 29 March.
US's Snow pleased with Brazil IMF decision
U.S. Treasury Secretary John Snow said in a statement on Monday 28 March that he was glad Brazil has decided it does not need a new International Monetary Fund loan accord.
China plans gradual forex reform, says PBOC chief
China will reform its exchange rate regime gradually on a schedule of its choosing and does not plan simply to revalue the yuan, the governor of the People's Bank of China said in an interview.
Brazil cuts inflation forecast amid slower growth
Brazil's central bank lowered its forecast for 2006 inflation, saying seven interest rate increases since September have helped reduce economic growth that was fueling a rise in consumer prices.
Japan, France fin mins concerned over weak dollar
The Japanese and French finance ministers expressed concern about the weak US dollar and agreed to bring the issue before Group of Seven finance ministers meeting in April, officials said in Tokyo.
Chicago Fed National Activity Index, Feb 2005
The Chicago Fed National Activity Index for February 2005 was +0.37, up from +0.13 in January. All four broad categories of indicators that make up the index made positive contributions last month, according to the CFNAI.
RBA's Macfarlane on Gresham's Law of payments
In a speech on 'Gresham's Law of payments' given on 23 March, Ian Macfarlane of the Reserve Bank of Australia said one of the longer term aims of the RBA's reforms was to reduce the distortions in the payments system caused by interchange fees.
Norway's Gjedrem on the economic outlook
In a speech on 'The economic outlook and monetary policy' given on 18 March, Svein Gjedrem of Norges Bank said inflation targeting has proved to be a sound system and particularly well suited for small, open economies.
Sveriges Riksbank Inflation Report, No. 1, 2005
Sweden's central bank, the Sveriges Riksbank, has published its First Inflation Report for 2005. The Riksbank's assessment is that the economic upturn will continue over the coming years and that resource utilisation will increase gradually both in…
BoE's King: Treasury Committee Opening Statement
In a statement to the Treasury Committee on Thursday 24 March, Bank of England governor Mervyn King said that consumer spending has turned out to be significantly weaker than policymakers had expected.
Canada's Dodge on bank's 70th anniversary
In an interview to mark the Bank of Canada's 70th anniversary, governor David Dodge said the bank is more open today than ever about how it goes about its business. "The day of the high priesthood of central bankers has come and gone."
Turkey's Serdengecti on promised reforms
In an interview published on Wednesday 23 March , the governor of Turkey's central bank, Sureyya Serdengecti, said reforms promised by the ruling AK government - but yet to be finalised - were essential to the bank's continued ability to reduce inflation…
BNB governor proposes Kostov as deputy
The governor of the Bulgarian National Bank (BNB), Ivan Iskrov, has proposed Dimitar Kostov as deputy governor of the central bank and head of the banking department.
Georgia to appoint new National Bank chief
Georgian President Mikheil Saakashvili has asked parliament to approve the chairman of the parliamentary finance and budget committee, Roman Gotsiridze, as the next president of the National Bank, Imedi TV reported.
Adams nominated to U.S. Treasury post
U.S. President George Bush has picked Tim Adams as the Treasury's new under secretary for international affairs, the White House said on Wednesday 23 March.
Trichet voices concern on fiscal rule changes
European Central Bank head Jean-Claude Trichet voiced concern on Thursday 23 March about reforms to the European Union's stability and growth pact agreed by EU leaders this week.
BoE's King: 'Coach and horses' driven through pact
Bank of England governor Mervyn King criticised European Union leaders for loosening the fiscal rules that underpin the value of the euro on Thursday 24 March, saying restrictions on government spending in the region lack "discipline."