News
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.
Suda says Japan's economy to exceed potential
Japan's economy will expand faster than its potential and inflation will probably not rise for the time being, said Miyako Suda, a Bank of Japan policy board member.
IMF says BOJ should continue easing policy
The Bank of Japan should maintain its current easy monetary policy until deflation is reined in, a senior official of the International Monetary Fund said on Monday 4 October.
Fukui supports China involvement at G7 talks
Bank of Japan Governor Toshihiko Fukui said on Sunday 3 October that he supports China's future participation at the financial meetings of the G7 leading industrialised countries.
George says France, Germany right to flout pact
Lord George, the former Bank of England governor, has hit out at the European Central Bank in an interview to be published this week, saying that its recent actions are damaging confidence in the eurozone's monetary policy.
Oil to affect growth not inflation says Eichel
German Finance Minister Hans Eichel said the increase in oil prices will have a stronger effect on economic growth in Germany than on the country's inflation rate.
Greenspan says risk management benefits the US
Federal Reserve Chairman Alan Greenspan said in a speech on Tuesday 5 October that better management of banking risk and new rules on capital could strengthen the banking system and contribute more to economic growth.
Riksbank issues coins to mark Palace anniversary
The Sveriges Riksbank is issuing two commemorative coins on the occasion of the 250th anniversary of the Royal Palace in Stockholm; a 200-krona coin in silver and a 2,000-krona coin in gold.
Communique' of the Ministers and Governors of G10
The Finance Ministers and Central Bank Governors of the countries of the Group of Ten met in Washington, D.C. on 3 October. John Snow, Secretary of the Treasury of the United States and current Chairman of the Group of Ten, presided.
BOJ to maintain easy money policy, Fukui says
Bank of Japan Governor Toshihiko Fukui told G7 finance ministers and central bankers that Japan's potential economic growth is increasing and the bank will keep easing monetary policy to overcome deflation.
Iraq cb chief says debt relief needed to tap oil
Iraq's central bank chief said on Sunday 3 October that the country cannot fully exploit its huge oil reserves without "huge" debt relief.
PBOC dep gov sees move on yuan
On Sunday 3 October, People's Bank of China deputy governor Li Ruogu spoke about the development on the Chinese economy, stressing the U.S. efforts for yuan convertibility.
France's Noyer calls for budget discipline
Addressing officials at the annual International Monetary Fund/World Bank autumn meeting, Bank of France Governor Christian Noyer said the world economy had returned to a growth path and urged countries to tighten their public finances.
UK seeks stability for gold in IMF revaluation
Any revaluation of International Monetary Fund (IMF) gold reserves would have to be done in a way which would preserve gold market stability, British Chancellor of the Exchequer Gordon Brown said on Monday 4 October.
ECB in dispute over new HQ
Local politicians said Friday that the ECB is currently in dispute with the municipal authorities of Frankfurt over the design of the central bank's new headquarters.
Death of Vanhala, former governor of Finnish cb
Matti Vanhala, former governor of the Bank of Finland, died on Wednesday 29 September from cancer, the bank said in a statement. He was 58.
China agrees 'steady' move on exchange rate
The US won a commitment from China at the G7 meeting in Washington on Friday that it would move 'firmly and steadily' to a flexible, market-based currency.
Minutes show Fed banks favoured hike by August
All of the 12 Federal Reserve regional banks had expressed support for raising short-term interest rates in August, minutes of the Fed's discount rate meetings released on Thursday 30 September showed.
BOE's Bell: Spending revisions meet expectations
Bank of England Monetary Policy Committee member Marian Bell said a decision by the statistics office to revise down figures for consumer spending in the second quarter matched the Bank's own expectations.
Bulgaria plans 2009 euro introduction
Governor of the National Bank of Bulgaria Ivan Iskrov has announced that the BNB is ready to print euro banknotes and coins.
Fukui, Greenspan discuss Japan, US economies
Toshihiko Fukui of the Bank of Japan and Federal Reserve chairman Alan Greenspan discussed the global economy on Thursday 30 September, as well as the economic situations of the US and Japan, Kyodo News reported a BOJ source as saying.
Jusko to step down as head of NBS in December
Marian Jusko, the governor of the National Bank of Slovakia (NBS), has announced that he will leave his post in December of this year, and not July 2005, as originally expected, according to the CTK news agency.