News
BNB's Quaden: Further euro rise 'not desirable'
Belgian National Bank governor Guy Quaden said at the release of the central bank's annual report that any further rise of the euro is "not desirable".
Stability Pact rule changes ruledout: Solbes
Pedro Solbes said on Wednesday 18 February that the current terms of the stability and growth pact will be maintained, ruling out any changes to the EU's much criticised budget rules.
PBOC reaffirms stability of renminbi
The People's Bank of China denied speculation on Wednesday that China's financial authorities have decided to appreciate the nation's currency in the near future.
Brazil's Copom holds rate at 16.5%
The Banco Do Brasil's monetary policy committee (Copom) announced Wednesday it was holding its Selic interest rate steady at 16.5%.
Bank of England MPC Minutes 4/5 February
Minutes of the Bank of England's Monetary Policy Committee Meeting were released on 18 February for the meeting of 4 and 5 February 2004. In a rare move, the MPC voted unanimously to raise interest rates by a quarter point.
Netherlands plans to offload $866m of gold
The Dutch central bank plans to sell 65 tons of gold valued at $866 million when the 15-country gold sales agreement expires in September, spokesperson Tobias Oudejans said on Tuesday. 17 February
Oman plans new settlement system
The Central Bank of Oman (CBO) plans to introduce a real time gross settlement (RTGS) system for faster inter-bank transactions, a report said.
Serbian central bank warns parliament
The National Bank of Serbia warned on Tuesday 17 February that it would appeal to the Republic's Constitutional Court if parliament annuls the election of central bank governor Kori Udovicki.
BOJ's Iwata says strong GDP won't change stance
The Bank of Japan's deputy governor Kazumasa Iwata said on Wednesday 18 February that the BOJ's monetary easing policy will stay unchanged despite strong GDP figures, and added that deflation remains a stubborn problem.
Meirelles says Brazil can cope without IMF aid
Brazil's central bank chief, Henrique Meirelles, said in an interview that the country's dependence on the IMF could be reduced and a reduction in Brazil's "foreign vulnerability" could be achieved.
Finland central bank bill withdrawn
A controversial bill that would have given the Finnish government the right to grab central bank funds has been withdrawn.
SNB's Roth says euro has stabilised Swiss franc
Speaking on Monday 16 February, Swiss National Bank chairman Jean-Pierre Roth said that the introduction of the euro has stabilized the Swiss franc but has also left the economy vulnerable to sharp currency swings.
UAE's anti-money laundering laws praised
Governor of the UAE central bank Sultan bin Nasser Al Suwaidi has said that the UAE's anti-money laundering law has helped reduce serious cases since it was passed in 2002.
Central bankers say stability pact not dead
The EU's much maligned stability and growth pact is not dead despite a decision by finance ministers in November to suspend its rules, ECB and Bundesbank members said Monday 16 February.
Court told 'Treasury in the dark' over BCCI affair
The High Court in London heard on Monday 16 February that the Bank of England allegedly deliberately withheld information about the state of BCCI from the Treasury because it was concerned that the government department would force the bank's closure.
Russia and Belarus agree on currency policy
The National Bank of Belarus and the Central Bank of Russia have approved a draft agreement between the governments and central banks of the two countries on common principles of currency regulation and control.
Hungary to delay Euro adoption to 2010
Hungary's new Finance Minister Tibor Draskovics was quoted as saying that the country will probably postpone the adoption of the Euro to 2010 from 2008 because of high inflation and budget deficits.
Finland versus the ECB (continued)
Despite a climb down by the Finnish finance ministry on a move to seize almost €750m of Suomen Pankki's capital, the ECB is still far from happy with the ministry's final proposal for a new Bank of Finland act. It argues that the proposal still…
Padoa-Schioppa: Lower rates would not boost growth
ECB executive board member Tommaso Padoa-Schioppa was quoted in an interview as saying that the central bank's current monetary policy can't be blamed for slow growth in the eurozone and lower interest rates are not the answer.
NBS to oppose review of Udovicki's election
The National Bank of Serbia (NBS) said in a statement on Saturday 14 February that it opposes a planned parliamentary review of NBS governor Kori Udovicki's election.
Prizewinning designs for the ECB's new premises
An international jury chaired by the ECB's Vice-President Lucas Papademos on 13 February chose the three winning designs in the architectural design competition for the new ECB premises in Frankfurt.
Bhutan to launch automated teller machines
The Bhutan National Bank, a commercial bank, will start operating an ATM facility from March this year. Software problems had delayed the introduction of the machines but these have now been solved.
EU considers changes to ECB board rules
European Union finance ministers are pondering establishing rules for the selection of ECB board members to avoid lobbying between countries, an EU diplomat said on Sunday 15 February.
Bundesbank says eurozone not hurt by weak dollar
The Bundesbank said on Monday 16 February that economic recovery in the eurozone has not been harmed by the weak dollar, with increasing global demand more than compensating for it.