News
New Hong Kong banknotes
The Hong Kong Monetary Authority (HKMA) announced Sunday 10 October that the remaining three denominations, $20, $50 and $1,000, of the new series of Hong Kong banknotes will be put into circulation from 11 October 2004.
ECB's Trichet sees 'gradual' economic recovery
European Central Bank president Jean-Claude Trichet said in an interview published on Monday 11 October that the economic recovery in the eurozone has remained gradual and that the central bank's analysis of the situation was balanced.
Current level of euro not a problem: EU's Almunia
Speaking at a European Commission conference on the euro, EU Economic and Monetary Affairs Commissioner Joaquin Almunia said on Monday 11 October that the current level of the euro against the dollar is not a problem.
Fed's Stern says data won't change Fed tack
Minneapolis Federal Reserve President Gary Stern said on Friday 8 October in an interview that the weaker than expected gains in the labour market are not enough to change the Fed's plan to gradually raise interest rates.
RBI spells out centralised cheque clearing system
The Reserve Bank of India (RBI) has detailed plans to set up a centralised clearing house system to provide an interface for image based inter-bank cheque truncation between presenting and drawee banks.
Fed could pause on weak data says McTeer
Dallas Fed President Robert McTeer said on Thursday 7 October that the Federal Reserve's decisions to raise short-term interest rates will depend on incoming economic data for the US.
Canada's exchange rate 'source of uncertainty'
Bank of Canada Deputy Governor Sheryl Kennedy said in a speech on Thursday 8 October that the central bank views the exchange rate as a "source of uncertainty" when forecasting economic growth.
Buba's Stark sees risk to growth from oil price
Bundesbank Vice-President Juergen Stark has said in an interview that record oil prices pose a greater risk to the euro region's economic growth prospects than they do to inflation.
Growth impact from oil 'modest' says Fed's Hoenig
Record oil prices will only have a moderate impact on U.S. growth which looks set for a solid performance over the next 18 months, Federal Reserve Bank of Kansas City President Thomas Hoenig said on Wednesday 6 October .
BMA deputy governor to step down
Bahrain Monetary Agency (BMA) Deputy Governor Khalid Al Bassam will step down at the end of the year after more than 15 years with the central bank.
ECB's 'gouverning council'
Who said the English language was taking over Europe? The European Central Bank's governing council met in Brussels yesterday, instead of Frankfurt. The bank always works in English but, according to the FT's observer column, the sign above ECB president…
Trichet note change sparks forgery claims
Berlin police have reassured citizens worried about an unfamiliar signature on their new euro notes that the money is genuine, news agencies report.
Euro or euras?
Algirdas Brazauskas, the Lithuanian prime minister, has criticised the EU's demand that the single currency be called the euro, not the euras, as it is known in Vilnius.
Almunia says ECB views on pact 'important'
EU economic and monetary affairs commissioner Joaquin Almunia told the European Parliament the European Central Bank's views on plans to reform the stability and growth pact are "very important", but ultimately it is member states who will vote on the…
ECB press conference with questions and answers
At the ECB's press conference on Thursday 7 October, following its decision to leave eurozone interest rates unchanged, Jean-Claude Trichet said the ECB's Governing Council is convinced that substantial improvements in the implementation of the Stability…
Fed's 'measured pace' may be faster or slower
Federal Reserve Bank of St. Louis President William Poole said on Wednesday 6 October that statements from the central bank were not "ironclad" undertakings of future action and objectives change as the economy evolves.
RBI chief Reddy sees oil price as concern
The Reserve Bank of India Governor YV Reddy said on Thursday 7 October that the sharp rise in global oil prices was a matter of concern but India was well equipped to handle the situation due to sufficient forex reserves.
BOK governor warns on asset price bubble
Bank of Korea (BOK) Governor Park Seung said on Thursday 7 October that further interest rate reductions could lead to an asset price bubble and that current rates were sufficient to support investment and production activities of businesses.
Cleveland Fed chief sees sustainable expansion
Cleveland Federal Reserve President Sandra Pianalto told a business conference on Thursday 7 October that the U.S. economy appears to be in a self-sustaining expansion, with both inflation and inflation expectations low.
New York Fed's Central Banking Seminar
The Federal Reserve Bank of New York will hold its annual Central Banking Seminar from 18-29 October. Speakers at the seminar include prominent commercial and investment bankers, experts from the financial community, distinguished faculty from major…
HKMA calls for safety deposit box inquiry
The Hong Kong Monetary Authority (HKMA) announced on Wednesday 6 October that it has required DBS Bank (Hong Kong) Ltd to carry out a thorough investigation into the recent destruction of rented safe deposit boxes at its Mei Foo branch.
Bernanke says US economy can absorb oil prices
Federal Reserve Board Governor Ben Bernanke said on Monday 4 October that despite the sharp rise in world oil prices the US economy should be able to withstand the impact as long as they don't rise much further.
US economy back on track says Fed's McTeer
Dallas Federal Reserve Bank President Robert McTeer said on Tuesday 5 October that the inflation scare is over with and the US economy is back on track from its soft patch.
Brazil's upswing due to rate policy says Meirelles
Brazil's central bank President Henrique Meirelles told a press conference in New York that the recovery from last year's recession is a result of budget and interest rate policies rather than the increase in exports.