News
PBOC says no plan to revalue yuan soon
Deputy governor Li Ruogu of the People's Bank of China said on Sunday 7 March that China does not plan to revalue the yuan in the near future and that the dollar pegged currency is valued correctly.
Jarai says delay ERM II if euro entry delayed
National Bank of Hungary president Zsigmond Jarai said on Friday 5 March, according to state news agency MTI, that if Hungary delays adoption of the euro, it should also delay joining the Exchange Rate Mechanism II.
Global recovery strong and long lasting says G10
G10 central bankers meeting in Switzerland said on Monday 8 March that the world economic recovery is strong and risks that it could be scuppered are fading.
IMF statement on Kohler's resignation
Following Horst Kohler's decision to resign from the IMF, the Fund released this statement on Thursday 5 March. First Deputy Managing Director Anne Krueger will be Acting Managing Director until the IMF's Executive Board names a successor.
Serbia's Jelasic moves into office
The new governor of the National Bank of Serbia, Radovan Jelasic, officially took control of the bank on Monday 1 March.
Kazakhstan appoints new deputy
According to a decree from President Nursultan Nazarbayev, Askar Yelemesov was appointed deputy president of the National Bank of Khasakhstan on Wednesday 3 March.
ECB board member confirmation hearing in April
The European Parliament said on Wednesday 3 March that it will hold a confirmation hearing with the nominee for the ECB's soon to be vacant seat. It spoke of a broadening of backgrounds which "would come from board members with an academic or…
Paul Sweezy dies at 93
Paul M Sweezy, a Harvard University economist who did much work on the theory of oligopoly, and left academia to become America's leading Marxist intellectual and publisher during the cold war era, died on Saturday 28 February at his New York home.
Court upholds immunity of former BSP chief Laya
The Third Division of the Philippines Sandiganbayan Court has upheld the immunity granted to former Central Bank governor Jaime Laya by the Presidential Commission on Good Government (PCGG) and dismissed the $65 million graft case against him.
Three BI insiders proposed for senior dep governor
President Megawati has proposed three names from within Bank Indonesia as candidates for the post of senior deputy governor, reflecting the government's intention to pick someone who is already familiar with the central bank's working environment.
Bank of Canada Research Fellowship Award for 2004
The Bank of Canada announced on Thursday 4 March that Professor Rene Garcia, of the Universite de Montreal, is the recipient of the bank's Fellowship award for research for 2004.
Fed says foreign central banks buying record debt
Holdings of U.S. debt by foreign central banks have hit a new record, the Federal Reserve said on Thursday 4 March, the 19th straight week that purchases of Treasury and agency paper have risen.
Schroeder calls for better dollar/euro balance
Speaking on Friday 5 March, German Chancellor Gerhard Schroeder said he would be happy if the dollar and euro "come into a reasonable balance".
Jarai: Hungary further and further away from 2008
President Zsigmond Jarai of the National Bank of Hungary said in a TV interview that Hungary is slipping "further and further away" from the introduction of the euro in 2008.
PBOC repeats plan to perfect exchange rate regime
China plans to give the market a greater role in setting the exchange rate for the yuan, but will keep the fixed currency basically stable for now, the country's foreign exchange chief said on Friday 5 March.
OECD upbeat on prospects for world economy
The Organisation for Economic Co-operation and Development said on Friday 5 March that US economic prospects continue to improve, along with those of all major industrialised economies of the world except Italy.
IMF contenders line up after Kohler's shock exit
Horst Kohler's decision on Thursday 4 March to step down a year early from the IMF to accept a nomination to become German president has seen various names enter the fray as possible successors, including UK chancellor Gordon Brown.
IMF pats BOE on back
The IMF, in a report following annual consultations with London, said on Friday the British economy "has weathered the global slowdown well" and that following a slowdown in the wake of the Iraq war, "economic activity has staged a strong recovery."
Bank of Canada announces anti-counterfeiting award
The Bank of Canada announced on Wednesday 3 March the creation of a Law Enforcement Award of Excellence that will be presented annually to an official who demonstrates outstanding commitment and initiative in the fight against banknote counterfeiting.
Lithuania begins euro transition preparation
The Lithuanian government approved a proposal on Wednesday 3 March for the country to join the European Union's exchange rate mechanism, which is crucial before Lithuania can join the euro.
Trichet firm on ECB's independence
European Central Bank president Jean-Claude Trichet said at the ECB's post- meeting press conference on Thursday 4 March that the bank should never be influenced by political pressure when it takes interest rate decisions.
Bank of England keeps rates on hold
The Bank of England left interest rates at 4 per cent on Thursday 4 March; economists speculated that the MPC wanted to see how households were adjusting to the higher cost of borrowing.
Brazil senate committee wants to quiz Meirelles
The Brazilian senate's economic affairs committee has invited Finance Minister Antonio Palocci and Central Bank President Henrique Meirelles to explain the government's economic policy, the Senate's news agency reported.
China to keep monetary policy & yuan stable in 04
China's Premier Wen Jiabao will tell parliament on Friday 5 March that China will retain stable monetary policy and proactive fiscal policy in 2004, but aims to pare down lending to duplicate projects to curb over-investment.