News
Report says ECB rate cut 'blocked'
A UK newspaper has reported that the ECB was effectively blocked from cutting interest rates last week after German and Dutch governors resented political pressure to ease eurozone monetary policy further.
Bank of Korea admits system crash
The Bank of Korea has confirmed that its computer network suffered an unprecedented five-hour crash on Friday reducing the central bank to executing transactions with faxes.
Italy calls for stability pact revamp
Italy has demanded a revamp of the EU Stability and Growth Pact to devote more attention to nurturing economic growth than curbing deficits.
Poland says to adopt euro by 2007
Poland, which on May 1 will become a member of the European Union, should adopt the euro as its national currency by 2007, the country's central bank chief said.
Silver euro unveiled to mark EU expansion
The European Union's Irish presidency unveiled a special 10-euro silver coin on Saturday minted to commemorate the bloc's upcoming historic enlargement.
Bundesbank chief Welteke pays disputed bill
The president of the Bundesbank sought to head off calls for his resignation on Monday by agreeing to pay back a controversial luxury-hotel bill which was covered by a private bank.
IMF agreement close as Lemierre pulls ahead
EU finance ministers hope to thrash out agreement on Europe's choice for the next head of the International Monetary Fund at weekend talks, the EU's Irish presidency said this week.
Gaddafi calls for African central bank
The Libyan "Leader of the Revolution" Colonel Muammar Gaddafi has called for the establishment of an African Central Bank.
Hearing set for ECB Board candidate
A hearing for the nominee for a position at the Executive Board of the ECB will take place on Tuesday 6 April.
Ex cb chief banned from leaving Haiti
Haiti's new justice minister has barred 37 members of the former government from leaving the country. Included is former central bank governor Venel Joseph.
HKMA releases pay review details
The Hong Kong Monetary Authority (HKMA) has announced the result of its annual pay review for staff of the HKMA in 2004.
A hyperactive central banker who needed an anchor
The Dallas Fed has introduced a special section to its website "Rhymes with No Reason" listing some of Bob McTeer's classic poems. As well as prose from the 'lonesome dove' it contains various stories including how he apparently saved a dog's life.
But Fund staff hit out at selection process
The perceived carve up of the IMF and World Bank top jobs between the US and Europe provoked a grassroots revolt among staff at the Washington-based Fund this week.
Greenspan well, but has he upset the White House?
Rumours that Alan Greenspan had a heart attack were soon dismissed but a report this week says the Fed chairman is out of favour with the White House following the release of Paul O'Neill's book.
Kate Barker reappointed to MPC
The UK Chancellor Gordon Brown announced the reappointment of Kate Barker to the Bank of England's Monetary Policy Committee (MPC) on Friday 2 April for a second term of three years.
Fire alarm halts ECB press conference
The ECB's monthly news conference in its Eurotower headquarters on Thursday 1 April was interrupted temporarily by a fire alarm.
Liikanen may bid for governorship of Finland cb
Erkki Liikanen, the European Commissioner for Enterprise and the Information Society, says that he is considering applying for the post of Governor of the Bank of Finland.
Hungary set to delay eurozone entry
The Hungarian government is likely to delay the country's euro entry by one or two years from the original target of 2008, finance minister Tibor Draskovics said on Thursday 1 April.
Foreign reserves hit record high in South Korea
South Korea's foreign currency reserves hit a record high of 163.56 billion dollars at the end of March, according to the Bank of Korea.
IMF and WB to play part in Iraqi debt settlement
Russian Finance Minister Alexey Kudrin said on Friday 2 April that the issue of Iraqi debt settlement will be solved together with the World Bank and the International Monetary Fund (IMF).
IIE sees strong economic growth in coming years
The Institute for International Economies (IIE) says that world economic growth will reach its highest rate in a generation in 2004 led by strong performances in the US and emerging Asia, before moderating in 2005.
Sveriges Riksbank cuts repo rates to 2.0%
At its meeting on 31 March, the Executive Board of the Riksbank decided to lower the repo rate by 0.5 percentage points to 2.0 per cent. This decision was based on the picture of future inflation in the Riksbank's latest Inflation Report.
Fed rate change near election ' political'
Changing interest rates near the U.S. presidential election is an inherently political act the Federal Reserve would try to avoid, but if it has to move it will, a top Fed policy-maker said on Tuesday 30 March.
Guynn: Rates must return to neutral
Low US interest rates must be brought back to a more neutral level and if they stay down for too long financial market excesses can build, Atlanta Fed chief Jack Guynn said on Tuesday 30 March.