Central Banks

Costello hints at new term for RBA's Macfarlane

Australian Treasurer Peter Costello gave a strong hint Reserve Bank (RBA) governor Ian Macfarlane would be appointed to lead the central bank for another term, according to The Age newspaper. Mr Macfarlane's term is due to expire on September 17.

Upbeat on the UK, downbeat on Europe

Unveiling the Bank of England's May 2003 Inflation Report on Thursday, Mervyn King was upbeat about prospects for UK economic growth and inflation. The Bank predicts that growth will pick up to trend and inflation will fall to remain close to its target…

ECB predicts eurozone recovery

In its May bulletin published on Thursday 15 May, the ECB said "Looking ahead, a gradual strengthening of real GDP growth is expected to start later in 2003 and to gather more pace in the course of next year", according to the Financial Times

UK think-tank urges 'stay out of the euro'

An influential think-tank published a report on Thursday 15 May saying that Britain should stay out of the euro as the policies of the European Central Bank and the inadequacies of the stability and growth pact present a real barrier to UK entry,…

Greenspan on the redesigned U.S. $20 note

In a speech on the redesigned U.S. $20 note Alan Greenspan of the Federal Reserve said the Federal Reserve is deeply committed to protecting our currency from counterfeiting, ensuring it is always accepted as legal tender and preserving its soundness.

Dodge on policies to sustain growth

In a speech on 'Policies to Sustain Growth Domestically and Internationally' David Dodge of the Bank of Canada said it's an interesting time to be a Canadian at meetings such as the BIS meeting he attended Monday. My colleagues from other central banks…

Riksbank on the euro in Swedish financial sector

Manageable risks in the changeover process if Sweden adopts the euro 2006, 14 May. A report published on Wednesday 14 May by the Sveriges Riksbank "The Euro in the Swedish Financial Sector - Progress Report 9" contains a summary and update of financial…

'Mr Yen' suggests new era of deflation

Frmer vice-finance minister of Japan, Eisuke Sakakibara, who is known as Mr Yen, has said he thinks Japan has been unfairly blamed for failing to tackle deflation with conventional monetary policy, according to the Financial Times. He also suggested the…

Ex Ukraine central banker jailed for 5 years

The UNIAN news agency reported that former first deputy chairman of the board of the National Bank of Ukraine, Volodymyr Bondar, was jailed for five years on Tuesday after being found guilty of violating an instruction which was in force at the National…

Eurasian c bankers to discuss market integration

Representatives from the Central Bank of Russia and the national banks of Belarus, Kazakhstan and Kyrgyzstan will arrive in Dushanbe to discuss issues of cooperation in the area of currency market integration, reports the Asia-Plus news agency.

Hitting the target

Target2 presents an opportunity to rationalise and modernise the euro clearing and settlement process. The ECB needs to look beyond RTGS argues Mike Evans.

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