News
Fed's Parry: Economy still in soft patch
President Robert Parry of the San Francisco Federal Reserve said on Wednesday May 28 that the Fed still has room to lower rates in spite of forecasts of stronger growth.
Germany accused of cooking OECD's books
An OECD spokesman admitted on Wednesday May 28 that an influential report was doctored at the request of the German government in order to provide a more flattering picture, according to a report in the Daily Telegraph.
RBZ to introduce new capital mandatory for banks
The Reserve Bank of Zimbabwe intends to introduce a new capital regime for the banking sector which will relate a particular bank's risk profile to what authorities will require of it in terms of safeguards, according to the Financial Gazette.
China unlikely to allow locals to trade HK stocks
China's state press has said domestic traders in China are unlikely to be allowed access to international stock markets soo, reports Channel News Asia.
Bosnia to withdraw controversial c bank member
After a meeting on Wednesday 28 May, Bosnia-Hercegovina Presidency Chairman Borislav Paravac said Cvijetin Nikic would be withdrawn from duty as a member of the governing board of the Bosnia-Hercegovina Central Bank.
BoJ Monetary Policy minutes, April 7 & 8
Minutes of the Bank of Japan's Monetary Policy Meeting on 7 and 8 April 2003, released 23 May. The majority of members agreed that it was appropriate to maintain the current stance in the guideline for money market operations, and continue to provide…
Garganas under fire on salaries
In an interview published on Saturday May 24 by kathimerini, Bank of Greece chief Nikos Garganas warned that unchecked pay increases would boost inflation, reduce competitiveness and lead to job losses. But his comments drew criticism from government and…
Bank indicates worst of Venezuela's crisis over
Venezuela has forecast a partial recovery in the local economy, according to Reuters. The central bank governor said in an interview published on Tuesday May 27 that it is difficult to expect a worse situation for the remainder of the year than what has…
Calls for Serb c banker to be removed
The principal deputy high representative in Bosnia-Hercegovina, has demanded the withdrawal of Cvijetin Nikic from the managing board of the Bosnia-Hercegovina Central Bank, according to a report by the Beta news agency.
Brazil's Meirelles says inflation not yet stable
Speaking in testimony to Brazil's parliament, Bloomberg reported that central bank President Henrique Meirelles said inflation was not yet under control and the bank will keep a watch with its interest rate policy.
SARS trims growth in Malaysia to 4%
Malaysia's economy grew at its slowest pace in a year in the first quarter, the government said on Wednesday May 28, according to a Bloomberg report, as overseas sales of Unisem Bhd. and other computer chipmakers fell.
Zimbabwe bank notes crisis worsens
Tuesday May 27 saw a worsening of the bank note shortage in Zimbabwe, according to The Herald Online, with some banks running out of notes and long queues at ATM machines.
ECB's Padoa-Schioppa: no danger of deflation
Tommaso Padoa-Schioppa of the ECB was quoted Monday as saying speculation over deflation was alarmist and that the central bank stands ready to act if necessary, according to Reuters.
Iran: New central bank governor speaks on policy
Iran's recently appointed central bank chief Ebrahim Sheybani said Saturday the CBI will try to maintain more attentive supervision over monetary policies to better rein in inflation, reports the IRNA news agency.
Turkey, Kazakhstan sign banking sector memorandum
Turkey's Banking Regulation and Supervision Agency and the central bank of Kazakhstan have signed a memorandum of understanding in the line of the joint goal of ensuring financial system stability, according to the anatolia news agency.
Gold bars worth $500m seized at Syrian border
A haul of 2000 gold bars was found during the routine inspection of a truck near the Syrian border, according to Reuters. The gold was estimated to be worth about $500 million and may have come from the Iraq central bank's reserves.
Brazil cb to maintain curent monetary policy
Brazil's central bank governor has said the bank will maintain its current stance on monetary policy despite the resignation of the director of economic policy, according to a report in the Wall Street Journal.
NBP won't release its reserves for budget
The National Bank of Poland's governor said the bank will not yield to the request of finance minister Grzegorz Kolodko, who had called on the NBP to release part of its foreign currency reserve and transfer the money to the state budget, according to…
Bosnian banking agencies, central bank sign deal
Bosnia-Hercegovina Central Bank Governor Peter Nicholl signed a memorandum on cooperation and exchange of information in Sarajevo with banking agencies from Serbia and Bosnia-Hercegovina, reports the SRNA news agency.
China's banking regulator to set up advisory body
the New China News Agency reports that China's Banking Regulatory Commission said it intends to set up a non-profit international advisory committee made up of people in supervisory roles in internationally-renowned banks.
New Bank of England Agency Opened in Exeter
Eddie George opened the Bank of England's new regional office in Exeter on Friday 23 May. This is the central base for the Bank's Agency for South West England.
Zimbabwe's central bank raises gold sale price
Zimbabwe's central bank has raised the price paid to small scale gold producers by 114 percent following the abolition of the gold floor price support scheme, the Financial Gazette reports.
Bank of Spain presents annual report on regulation
The Bank of Spain presented its annual report on its regulatory activities on Thursday, it is reported by Expansion.
BOK Governor discounts deflation risk
The Bank of Korea (BOK) governor Park Seung said on Thursday 22 May that there is little possibility of deflation at this point with the current heated real estate market, according to a report in the Korea Times.