News
IMF say conditions favourable on China rate reform
International Monetary Fund spokesman Thomas Dawson said that China is now ready and able to reform its exchange rate system, and it is in its best economic interest for it to do so.
PBOC chief rejects rate change rumour
The head of the People's Bank of China, Zhou Xiaochuan, denied rumours on Friday that the renminbi will be allowed to appreciate on 18 May.
Wolfowitz reassures World Bank staff
Paul Wolfowitz is trying to reassure World Bank staff that he has turned put his past involvement with the Iraq war behind him and has his eyes trained on global development.
EMEAP announces ABF2 moves to implementation phase
The eleven central banks and monetary authorities from East Asia and the Pacific which make up the EMEAP Group announced on Thursday 12 May that the Asian Bond Fund 2 (ABF2) has moved into its implementation phase.
US Treasury denies China visit report
A US Treasury Department spokesman denied media reports on Wednesday 11 May that officials planned to visit China next week for talks with Chinese economic authorities.
Tanigaki says yuan revaluation won't push up yen
A revaluation of China's currency wouldn't immediately strengthen the yen, Japan's Finance Minister Sadakazu Tanigaki said on Thursday 12 May.
SARB deputy says economy can sustain brisk growth
South African Reserve Bank deputy governor Ian Plenderleith said on Wednesday 12 May that South Africa can sustain economic growth of at least 4 per cent over the next few years and investor confidence in the country has improved.
House prices overvalued says Spain's Caruana
Bank of Spain Governor Jaime Caruana Wednesday said that in the central banks view house prices are overvalued as a result of an extended property boom, but ruled out the possibility of a "disorderly adjustment" in the market.
PBOC official says prepared for yuan reform
A deputy governor of the People's Bank of China said the central bank is now "technically" prepared to carry out currency reforms, according to a report on Wednesday 11 May.
Fed's Hoenig: statement error a 'doggone mistake'
Kansas City Fed President Thomas Hoenig said on Tuesday 10 May that the omission of a reassurance about the long-term inflation outlook in last week's Federal Reserve policy statement was just a mistake.
Fed's Fisher sees US economy in 'sweet spot'
Dallas Federal Reserve President Richard Fisher said on Tuesday an apparent soft spot in U.S. growth may have been influenced by technical factors making March data look especially weak, but in fact the economy is pulling ahead well.
Japan's MOF may yield to BOJ on reserves
Japan's Ministry of Finance is expected to approve the Bank of Japan's plans to build up its reserves beyond the amount legally required, the Nihon Keizai Shimbun reported.
Bank of Japan Minutes, 15 and 16 March
The Bank of Japan's minutes from its 15 and 16 March monetary policy meeting published on 9 May showed policy makers agreed they can keep the target for reserves available to lenders by changing the way the bank conducts money-market operations.
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.
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.
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.