News
Sveriges Riksbank alters management forms
At its meeting on 13 October, the Executive Board of the Sveriges Riksbank decided to make certain changes in the way the bank is managed. Responsibility of members of the Executive Board for preparing matters from the departments will be replaced by a…
Danmarks Nationalbank appoints head of Secretariat
As of 1 November, Karsten Biltoft, Head of Division, is appointed Head of Danmarks Nationalbank's Secretariat which, among other things, is responsible for external and internal communication.
Interview with Dr YV Reddy, Governor of the RBI
This interview was given to Emerging Markets on the occasion of the magazine presenting Dr YV Reddy of the Reserve Bank of India the Best Central Bank Governor of the year award. Issues considered for such nominations include "strong track record,…
Interview with Philadelphia Fed's Santomero
In an interview published last Friday, 22 October, Philadelphia Fed President Anthony Santomero said that the Federal Reserve will be able to slow down the pace of interest rate rises if the economy grows less rapidly than it expects.
Federal Reserve appoints regional Fed chairmen
The Federal Reserve Board on Wednesday 27 October announced the appointment of the chairmen and deputy chairmen of the twelve Federal Reserve Banks for 2005. Each Reserve Bank has a nine-member board of directors. The Board of Governors in Washington…
Former Bank of Italy governor gets pacemaker
Italian President Carlo Azeglio Ciampi, who was governor of the Bank of Italy between 1979 and 1993, underwent surgery to install a pacemaker last week, his office said.
Yushchenko went from central bank to politics
Viktor Yushchenko, who was governor of the National Bank of Ukraine through most of the 1990s, goes into Sunday's presidential election in the Ukraine as the main opposition candidate. This article assesses his chances, and also takes a look at his…
China's 'Father of the Euro' university to open
It was announced on Thursday 28 October that the recently established Mundell International University of Entrepreneurship will open in November.
Report claims Israel's Klein asks for second term
A report by Haaretz Daily this week claimed Bank of Israel governor David Klein asked about his chances of being appointed for a second term at the central bank during a meeting with Finance Minister Benjamin Netanyahu.
Issues paper for ECB conference on 10 Nov
In preparation for an internal conference on e-payments, the ECB has produced an issues paper entitled "E-payments without frontiers". The paper covers observations on innovation in retail payments, challenges to be faced before a mature and integrated…
China rate rise 'not necessarily' yuan-related
An unnamed IMF official was quoted on Friday 29 October as saying that China's interest rate increase on Thursday 28 October did "not necessarily" mean a shift in the country's fixed exchange rate regime.
Jarai says central bank changes still unlawful
Zsigmond Jarai, president of the Hungarian central bank, told a conference on Thursday 28 October that despite minor adjustments submitted to planned modifications to Hungary's Central Bank Act, the intentions driving the changes are still "wrong,…
Brazil says oil threatens 'gradual' rate rises
Minutes from Brazil's central bank interest rate setting COPOM committee showed that the bank expects to maintain a policy of "gradual" interest rate increases while holding out the possibility that increasing oil prices and worsening inflation…
BOJ maintains policy, sees slight inflation
The Bank of Japan kept its ultra-loose monetary policy on Friday 29 October to support the economy and forecast there could be a slight rise in inflation next year, although that would not necessarily mean a change in its stance on interest rates, it…
NY Fed study warns on central bank asset buying
The New York Federal Reserve warned in a report on Thursday that U.S. interest rates would rise and the dollar would fall if Asian central banks slowed their recent heavy purchases of U.S. assets.
RBNZ increases OCR to 6.50 per cent
The Reserve Bank of New Zealand announced on Thursday 28 October that it has increased the Official Cash Rate from 6.25 per cent to 6.50 per cent.
Tanigaki says Japan's economy is recovering
Japanese Finance Minister Sadakazu Tanigaki told parliament on Thursday 28 October that Japan's economy is on a recovery trend while deflation remains.
ECB's Garganas: little effect on exports from euro
European Central Bank council member Nicholas Garganas said in an interview the euro's appreciation against the dollar this month probably won't hurt European exports and will help offset the effects of surging oil prices on the economy.
China's central bank raises interest rates
The People's Bank of China on Thursday 28 October raised interest rates for the first time in nearly a decade to guide its heated economy to a path of slower growth.
Mexico's Ortiz sees inflation falling
Central bank Governor Guillermo Ortiz said on Wednesday 27 October that he expects Mexico's annual inflation rate to start declining in the second quarter of 2005, and the Banco de Mexico remains committed to fighting rising prices.
Snow says US economy on right path
The U.S. economy is on the right path, but obstacles including high oil prices, deficits and business caution stand in the way of full recovery, US Treasury Secretary John Snow said on Tuesday.
ECB's Weber says euro appreciation not justified
European Central Bank council member Axel Weber said Europe's single currency may have appreciated against the dollar more than can be justified by economic arguments.
Oil will not cause recession says Dallas Fed
Stephen Brown, the senior economist for the Federal Reserve Bank of Dallas said Tuesday that high oil prices are unlikely to push the U.S. economy into a recession.
MEPs vote to alter report on ECB
Conservative and liberal MEPs voted Tuesday in Strasbourg to dramatically alter the French Green MEP Alain Lipietz's Report on the 2003 Annual Report of the European Central Bank to such an extent that the Rapporteur was forced to recommend a negative…