News
Peru's Silva may head for IMF
Chairman of the Central Bank of Peru, Javier Silva Ruete, may leave his job and head for the IMF in Washington, Gestion newspaper reported this week, citing Economy and Finance Minister Pedro-Pablo Kuczynski.
Former auditing chief appointed to PBOC dep gov
Xiang Junbo, the former deputy auditor-general of National Audit Office (NAO), has been appointed vice governor of People's Bank of China, an official at the central bank press office said.
Interview with ECB's Lucas Papademos
In an interview published by Il Sole 24 Ore this week, vice President of the European Central Bank Lucas Papademos said that since last April the ECB has preferred to cease using the word "appropriate" so as to dispel the impression that had prevailed in…
Goh becomes chairman of MAS
Lee Hsien Loong, who became Singapore's third prime minister on Thursday 12 August, will remain as finance minister, but his predecessor Goh Chok Tong is to take over as chairman of the Monetary Authority of Singapore.
Brazil's central bankers strike for second day
Eighty per cent of Brazilian central bank employees went on strike for a second day in demand of a pay rise, central bank spokesman Jocimar Nastari was quoted as saying this week.
Give RBZ autonomy, IMF tells Zimbabwe
The International Monetary Fund (IMF) said in a Working Paper that the Reserve Bank of Zimbabwe (RBZ) needs to be independent from government to achieve its policy objectives.
SARB announces changes to its MPC
The composition of the South African Reserve Bank's Monetary Policy Committee has been changed to allow for two senior staff members of the SARB to become members. A.D. Mminele, Head of Financial Markets and Dr M. Mnyande, Head of Research and Senior…
Madagascar reports difficult economic conditions
A disputed presidential election meant a difficult 2002 for Madagascar's central bank. In its recently published annual report for that year the central bank discusses the impact of these problems and its actions in combating them.
RBA Conference: The future of inflation targeting
The Reserve Bank of Australia has published the papers presented at its 2004 Conference "The future of inflation targeting" held 9-10 August. Papers include 'Can central bank transparency go too far?,' 'Inflation measurement for central bankers', and …
Canada's new banknotes to be issued in autumn
The Bank of Canada plans to issue a new $50 note, the final banknote in the Canadian Journey series, on 17 November. Before that the bank expects to put the new $20 note into circulation beginning late September.
BOK makes unexpected cut in interest rate
The Bank of Korea unexpectedly cut its key interest rate by a quarter percentage point on Thursday 12 August to give a spur to the lacklustre economy.
IMF optimistic on Japanese economy
The International Monetary Fund upgraded its economic outlook for Japan on Wednesday 11 Augustand said it expects price deflation there to end next year.
Japanese buy up record US bonds
Japanese investors bought a record amount of foreign bonds last week, Reuters said. Data released on Thursday 12 August showed Japanese investors bought a net 1.859 trillion yen ($16.8 billion) of foreign bonds in the week of Aug. 2-6, in the run-up to…
RBI launches new trading system
The Reserve Bank of India (RBI) is set to launch electronic anonymous screen-based trading in government securities on the Negotiated Dealing System (NDS).
Fed sees stronger pick up in growth
The Federal Open Market Committee decided on Tuesday 10 August to raise its target for the federal funds rate by 25 basis points to 1-1/2 percent. In its press release the FOMC maintained its stance that policy accommodation could be removed at a…
Polish central banker Rybinski warns on rates
Deputy governor of the National Bank of Poland Krzysztof Rybinski said on Wednesday 11 August that the central bank may have to be more aggressive in raising interest rates to contain inflation.
PBOC reports money supply growth slowdown
Money supply and credit loans growth rates dropped in July as a result of the government's effective macro-economic control policy, China's central bank said on Wednesday 11 August in its monthly report on financial performance.
Norway leaves interest rates unchanged
Norway's central bank said on Wednesday 11 August that key interest rates may stay low for longer than it had forecast after keeping its key deposit rate unchanged at 1.75 percent.
Monthly reports to increase transparency-Argentina
Argentine banks are now required to submit a monthly report to the central bank outlining their costs, interest rates and other indicators, local press reported.
Fukui says BOJ watching oil price impact
Toshihiko Fukui told a news conference on Tuesday 10 August that the Bank of Japan is closely watching the impact of record high oil prices on the Japanese economy.
Argentina to honour IMF debts
Argentina will honour its multi-billion dollar debts to the IMF to the end of the year despite an impasse in loan negotiations, Cabinet Chief Alberto Fernandez said Monday.
Fed expected to lift US interest rates
The Federal Reserve was expected to raise interest rates on Tuesday 10 August for the second time this year, despite weak US employment growth statistics.
HP and CMA to deliver payment system to Montenegro
HP and CMA Small Systems AB announced on Friday 6 August that they will provide the Central Bank of Montenegro with a new automated inter-banking payment system, supporting Montenegro's economic momentum-building efforts.
Germany's Eichel : no more budget cuts yet
German Finance Minister Hans Eichel said on Sunday 8 August that the economic recovery was not yet firmly established enough for him to impose more budget cuts, and that he would make added savings only when growth was more sustained.