News
US forces recover $800m of 'stolen' Iraqi cash
The US state department said Tuesday that about $800m that was stolen from the central bank of Iraq has been recovered.
Bank of Uganda's powers trimmed by parliament
The central bank of Uganda has lost the power to control capital requirements for commercial banks after parliament voted to amend rules under the Financial Institutions Bill.
Ecuador seeks tighter controls over banking system
Ecuador's President Lucio Gutierrez has called for reform of the country's central bank which could involve the Bank's board replacing an existing board at the helm of the Banking Superintendency regulator in a bid to tighten controls.
NY Fed candidate Fischer favours inflation targets
A leading contender for the job of president of the New York Fed, Stanley Fischer, expressed his support for inflation targeting on Tuesday saying "Inflation targeting is a good way to conduct monetary policy".
New law to boost BMA role as a key regulator
A new law is expected to reflect the Bahrain Monetary Agency's expanded role as regulator of capital markets and will make it easier for international dealings to operate as a central bank.
Jillian Broadbent re-appointed to RBA Board
Announcement from the Australian Treasury of the re-appointment of Ms Jillian Rosemary Broadbent to the Board of the Reserve Bank of Australia, 6 May.
Eurosystem tender operations amendment
Amendment of the indicative calendar for the Eurosystem's tender operations in 2003, 5 May.
Minutes of Japan's Monetary Policy Meeting
Minutes of the Bank of Japan's Monetary Policy Meeting on 25 March 2003, released 6 May. Some members said that a reduction in banks' exposure to risks arising from stock-price volatility would be effective in preventing stock-price falls from negatively…
BOJ minutes show concern over banks stock holdings
Minutes from the Bank of Japan's policy board meeting released Tuesday showed members deliberated the need to help commercial banks reduce stock holdings and cut share-investment losses.
ECB to discuss setting 1% base on inflation target
As part of the ECB's strategy review, the Financial Times reports, it will discuss the possible introduction of a 1 per cent lower boundary to its inflation target at its rate-setting meeting this week.
ECB's Papademos seeks Commission role on pact
The ECB's vice-president has said the weakest aspect of the Stability and Growth Pact is the arrangement for enforcing it, the Irish Times reported. 'It is essential that greater flexibility and pragmatism in the implementation of the Stability and…
Saddam's son took $1bn from central bank pre war
A report in the New York Times said that just before the war in Iraq began US$1bn in cash was removed from the central bank by one of Saddam Hussein's sons. Three tractor-trailers were needed to cart the money off, an Iraqi official said and it took a…
Philippine c bank chief returns to work
After spending the last two months in the US for medical treatment Governor Rafael Buenaventura of the Philippines central bank will return to work this week, the Philippine Daily Inquirer reported.
Bank of Israel supervisor cleared by comptroller
The Bank of Israel's supervisory office has been cleared of a direct failure in monitoring the embezzlement at Trade Bank Ltd.
Brazil debates intervention in currency market
A debate has emerged in Brazil regarding the central banks intervention in the currency market after the government said last week it would not be desirable for the real to strengthen further.
No to the euro will cost the UK
The costs are certain for the UK in delaying joining the euro - but the benefits are not - argues a report by 11 world-renowned economists published today. CentralBankNet reports from the presentation.
Strike in Israel disrupts central bank operations
A cut in interest rates by the Bank of Israel will not come into affect until bank business resumes as the country is currently gripped by a national strike Reuters reports.
Bundesbank's Stark unconcerned about euro rise
In an interview Vice President of the Bundesbank reported by Reuters, Juergen Stark said the global economy was not heading towards a major crisis and pointed to the fact that a strong euro made imports - particularly oil - cheaper, stimulating the…
Ireland's long awaited financial regulator arrives
The Irish government has launched the new Central Bank and Financial Services Authority of Ireland, according to a report by BizWorld. Described as a historic day by the governor, John Hurley, the new Authority will establish a code of conduct for banks,…
Argentine c banker: priorities for new president
The head of Argentina's central bank Alfonso Prat Gay said on Thursday 1 May that the new president of Argentina, to be elected this month, should put sustainable growth at the top of the agenda and establish a long-term IMF deal and debt restructure,…
Swedes become more hostile to the euro
Four polls since 15 April suggest opponents of the euro outnumber supporters in Sweden by an average of 8 per cent, according to report by Bloomberg. This compares with six months ago when pro-euro campaigners led by 3 percentage points.
Norway's plans to sell Royal Mint stir up storm
Norway's central bank has said that by 2007 it will not be economically feasible to print notes and mint coins in the country, according to Aftenposten, but the move has caused controversy with many saying that printing notes and coins has "symbolic…
Brazil's Copom resisted April rates cut
Minutes of Brazil's central bank Copom meeting released on Friday 2 May showed that the bank resisted cutting interest rates in April as although inflation slowed in March, it failed to ease at the pace predicted, according to AE Brazil.
BoJ chief ignores bank share pressure
Speaking on Friday 2 May, Bank of Japan chief Toshihiko Fukui said the central bank cannot take limitless risk, which is a job that only the government can do. His comments, reported by Associated Press, were a response to government pressure to step up…