News
T&T central bank criticised over discrimination
Secretary General of the Sanatan Dharma Maha Sabha, Sat Maharaj, has apparently criticised the Central Bank of Trinidad and Tobago, citing it as an example of cultural discrimination in Trinidad and Tobago, according to a report by the Trinidad and…
Greenspan nomination hearing will be 10 June
Federal Reserve Chairman Alan Greenspan will testify next Thursday, 10 June, before the Senate Banking Committee as it considers his nomination for a fifth term at the central bank's helm, the panel said on Thursday 3 June.
IMF's new MD Rato to assume office on 7 June
Rodrigo Rato, the new managing director of the International Monetary Fund, will officially start work on June 7, IMF spokesman Thomas Dawson said on Thursday 3 June.
Yepez made Ecuador's new economy minister
Ecuadorian President Lucio Gutierrez said on Tuesday 2 June that he had accepted the resignation of Economy Minister Mauricio Pozo and the new minister will be Central Bank Director Mauricio Yepez.
President proposed for euro finance ministers
French finance minister Nicolas Sarkozy proposed this week that the finance ministers of the 12 eurozone countries should have a permanent president for two and a half years.
Feldstein - The Next Greenspan?
As one of George W. Bush's key advisors on economic policy, Harvard professor Martin Feldstein helped design the President's tax cuts. He's working on a plan to overhaul Social Security. Could he be the next Greenspan, this article asks.
RBA's McKibbin barred from providing advice
The Governor of the Reserve Bank of Australia, Ian Macfarlane, blocked board member Warwick McKibbin from advising a residential home equity fund, the Sydney Morning Herald reported this week.
Israel's Klein in favour of hiring Arab employees
The Bank of Israel is in favour of recruiting Arab employees, but has yet to find suitable candidates for available positions, according to a letter sent by central bank governor David Klein to Hadash party MK Ahmed Tibi, Haaretz reported this week.
ECB decision on the rules applying to OLAF
Today, 3 June, the Governing Council of the European Central Bank (ECB) adopted a Decision (ECB/2004/11) on the terms and conditions for European Anti-Fraud Office (OLAF) investigations of the European Central Bank.
Irish financial regulator to get new powers
Ireland's new financial regulator is to be given powers to fine and name offending institutions under draft legislation going through the Irish parliament, the Dail, this week, according to the Financial Times on Friday4 June.
Belgian national bank sees GDP growth at 2.3 pct
Presenting the June forecasts, Belgian national bank governor Guy Quaden warned that a further rise in oil prices could hamper economic recovery in Europe.
World Bank wants further Russian economic reforms
World Bank chief James Wolfensohn is urging Russia to continue with economic reforms to promote investment. He also warned that how Russia deals with a tax affair involving the Yukos oil company could have major repercussions.
Supervision of banks paying off reports CBRC
The China Banking Regulatory Commission (CBRC) said Thursday its recent efforts to strengthen the supervision of banks and contain their lending risks have shown good results, according to Friday's China Daily.
ECB press conference, with Q & A session
The European Central Bank held eurozone interest rates unchanged for a 12th month on Thursday 3 June. At the post-meeting press conference Jean-Claude Trichet said the economic recovery has strengthened over recent months, but noted we have also…
BOJ's Haru cautious on possible rise in JGB yields
Bank of Japan Policy Board member Hidehiko Haru said on Thursday 3 June that it was expected that interest rates on Japanese government bonds to rise in line with an economic recovery but that an excessive jump may be harmful.
Fukui says Japan's prices to continue decline
Toshihiko Fukui said on Thursday 3 June that rises in wholesales prices were being largely absorbed by higher productivity, and that consumer prices would remain negative for some time.
Greenspan says past no guide to future on rates
According to a letter released on Wednesday 2 June, Fed Chairman Alan Greenspan told a US lawmaker that looking at the past is no guide to predicting how quickly and aggressively the Federal Reserve will raise interest rates.
IMF's Krueger: Financial crises need fast response
Countries can suffer financial crises rapidly, requiring an immediate response, the acting head of the International Monetary Fund Anne Krueger said on Wednesday 2 June in San Diego.
Richmond Fed's Economic Quarterly, Spring 2004
The Federal Reserve Bank of Richmond has published its Economic Quarterly for Spring 2004. The latest edition contains four articles including "Which price index should a central bank employ?" Many central banks give a high degree of prominence to the…
Chicago Fed National Activity Index, April 2004
The Chicago Fed National Activity Index April 2004 increased sharply in April, to +0.64, from an upward-revised +0.23 in March. Each of the four broad categories of indicators that comprise the index made positive contributions in April, with production-…
CBK to get increased regulatory powers
Under proposed changes, the Central Bank of Kenya will have additional powers to monitor and regulate the banking industry. The ministry of finance will transfer banking licensing, regulation and disciplinary authority to the CBK, the East African…
S. African treasury and cb to co-ordinate policies
The South African treasury and the Reserve Bank have signed a memorandum of understanding to ensure there was no conflict between their different approaches to fiscal and monetary policies, Lesetja Kganyago, the new director-general of the treasury said…
EU Finance ministers urge OPEC action on oil price
French Finance Minister Nicolas Sarkozy says that eurozone finance ministers have agreed to coordinate any response to surging oil prices and want talks with oil producers to lead to an increase in output.
Report says Basel II will cost banks 20-30bn euros
Applying capital requirements under a new accord drafted by the Basel committee should cost European banks 20-30 billion euros between 2002 and 2006, a study prepared for the European Commission has estimated.