Central Banks

McDonough says Fed has time before rate hike

US - Federal Reserve Bank of New York President William McDonough said on Thursday the Fed is unsure about how strong the U.S. economy may be in the latter half of this year and can be patient before raising interest rates.

Abachas reported to return $1bn to Nigeria

UK - The family of Sani Abacha, Nigeria's former dictator, has agreed to return $1bn ( £600m) in funds looted from the country's central bank in return for the dropping of theft and money laundering charges against Abacha's son and one of Abacha's…

Convicted BI chief to miss IMF meeting

INDONESIA - Bank Indonesia Governor Sjahril Sabirin will skip the annual meeting of the International Monetary Fund (IMF) in Washington this weekend, following the conviction in the Bank Bali scandal last month that bans him from leaving the country.

Speech by Ulrich Kohli, Swiss Nat Bank, 26 Feb

SPEECH - Kohli concludes in a speech titled 'Will the Euro Make the Swiss Franc Obsolete?' that as long as the SNB maintains an independent course of action, it will uphold the reputation of the Swiss franc as a safe and sound currency, and it will…

Testimony of Fed Chairman Alan Greenspan, 17 Apr

TESTIMONY - In testimony to the US Congress titled 'Monetary policy and the economic outlook' Greenspan said the strength of the current U.S. economic recovery was not yet clear and praised the economy's resilience in the face of some difficulties, "but…

Greenspan dampens rate hike fears

US - The US Federal Reserve is expected to leave interest rates unchanged until an economic recovery in the US has gained a strong foothold, analysts said after having listened to a key speech by the Fed chairman Alan Greenspan.

FX traders to kiss goodbye to settlement risk

FEATURE - Currency traders, more aware of the potential for disruption in the financial system after September 11, should draw comfort from a long-awaited settlement system linked to central banks that is due to go live this year.

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