News
Nigerian cb denies governor's resignation
The central bank of Nigeria denied on Tuesday 17 June that its governor, Dr Joseph Sanusi, had resigned over price instability, according to the Vanguard website. A CBN spokesman said the governor was "thoroughly embarrassed" by the story.
France c bank strike may leave cash machines empty
Industrial action by staff at French central bank the Bank of France could leave ATMs short of notes, according to a report in Le Monde.
Poland's fin min plans tough dialogue with c bank
Poland's new finance minister Andrzej Raczko has said he plans tough talks with the country's central bank, but he also sees room for agreement and understanding of both sides, according to Polish Radio.
RBI deputy governor Kamesam gets 3-month extension
Reserve Bank of India deputy governor Vepa Kamesam's term has been extended to the end of September, according to a report by Business Standard. His two-year term was due to end in the last week of June.
ECB Succession: Randzio-Plath welcomes judgement
Statement by the Chair of the European Parliament's Committee of Economic and Monetary Affairs Christa Randzio-Plath on the judgement in the Credit Lyonnais case, 18 June.
ACU central bank governors tour software company
After a busy day of negotiations central bank governors of the eight countries in the Asian Clearance Union visited software major Infosys Technologies, according to The Hindu.
Kansas City Fed gets approval to move to new HQ
President Thomas M. Hoenig of the Kansas City Fed said on Monday 16 June that the Federal Reserve had approved plans for an estimated $200 million project to build a new headquarters for the Federal Reserve Bank of Kansas City, according to the Kamsas…
PBOC unveils new currency policy committee
The People's Bank of China has unveiled its new currency policy committee, the Xinhua news agency reports. The committee will be chaired by Zhou Xiaochuan, governor of the Bank, with 12 other high-ranking economic and financial officials making up the…
No serious SARS impact on financial sector: PBOC
The People's Bank of China has said there is no indication of a severe impact by the SARS virus on China's financial secto, according to a report by the People's Daily.
Minneapolis Fed president upbeat about economy
Gary Stern of the Minneapolis Fed said he thinks there is a low probability of deflation in the US, but would not rule it out, according to Associated Press. The problem in Japan, he said, is inadequate growth of the money supply and allocation of too…
C bank governors to attend ACU meeting
Central bankers from the eight members of the Asian Clearing Union will meet to discuss the future of the union and admitting new members, according to NDTV The objectives of ACU include conservation of Forex and the promotion of monetary cooperation…
MPC recruit Lambert urges UK Treasury drop secrecy
The most recent member of the Bank of England's monetary policy committee called for openness and transparency in the selection process of appointees to the MPC when facing the Treasury select committee on Monday 16 June, according to a report by the…
Japan's support for inflation targeting grows
Minutes of the Bank of Japan's April meeting published on Monday 16 June showed that at least two of the BoJ's nine policy board members favour the introduction of a "reference rate of inflation" to halt deflation, according to a report in the Financial…
Banco de Mexico sues over loans
The central bank of Mexico announced on Monday 16 June that it had sued four of the country's largest banks to release information related to bad loans during the mid-1990s peso crisis, according to Reuters.
New governor of Bulgarian national bank by Friday
Bulgaria's parliament is now expected to name the new governor of the central bank by the end of the week, according to Novinite. The further delay stems from the need to find a third candidate as "two candidates for Governor is no choice at all," the…
ECB's Issing not worried by euro rise - Report
Rather than being overvalued the euro is, in European Central Bank chief economist Otmar Issing's view, "above all" a correction of its previous undervaluation, he told Der Spiegel magazine.
Rate commitment could hit Fed credibility-Broaddus
Richmond Fed president Alfred Broaddus has warned the Federal Reserve may lose credibility if a commitment to hold interest rates down to fight deflation becomes difficult to maintain due to an unexpected shift in the economy's fortunes, according to…
Iraq shadow over the BIS?
Some European central bankers are said to be unhappy with the recent appointment of Roger Ferguson as head of the Financial Stability Forum. It is not that Ferguson is thought to lack qualifications for the job - quite the contrary, there is much respect…
Shift at the FSF
But so far as the FSF goes, there is more to the criticism than sheer old European bloody-mindedness. The appointment does signal a shift.
Basel bunkum
No one understands the new Basel accord. Grown men are reduced to tears when they try. There are simply too many details for any one person to digest. But it is troubling indeed to learn that people don't even seem to understand how it was arrived at in…
Trichet brings SDRM down to earth
The IMF's much-vaunted Sovereign Debt Restructuring Mechanism is the latest casualty in a string of apparently wasted efforts in attempting to find some way to save the world from the terrors of sovereign default. But a few months ago Banque de France…
Duisenberg soldiers on
No central bank takes kindly to politicians tampering with their business, and the ECB is no exception. In advance of its long-awaited rate cut this week, the ECB was told by Belgian finance minister Didier Reynders to be more active: "It is about time…
Duisenberg soldiers on
No central bank takes kindly to politicians tampering with their business, and the ECB is no exception. In advance of its long-awaited rate cut this week, the ECB was told by Belgian finance minister Didier Reynders to be more active: "It is about time…
Estonia re-appoints central bank council chairman
Mart Sorg has been reappointed chairman of the council of the Bank of Estonia, for a second term, Estonian Television reports. Sorg said he intends to hold a balance of political forces in the new council.