News
Iran c bank chairman to be appointed on 27 April
Iran's finance minister will announce the name of the new governor of the central bank of Iran at a Sunday session of the cabinet meeting to be held 27 April, according to the IRNA news agency.
Turkey: cb governor briefs cabinet re Iraq
The governor of the central bank of Turkey has briefed the Council of Ministers on the economic situation and the impact on the Turkish economy of the recent conflict in Iraq, according to a report on TRT 2 TV in Turkey, Reduced uncertainly, he said,…
S.Korean law makers push for central bank autonomy
Lawmakers in Korea aim to give the central bank more independence from the government, according to an article in The Korea Times. But the move could be opposed by the finance ministry which feels that policy cooperation is as important as independence.
Duisenberg to stay at ECB until successor ready
ECB president Wim Duisenberg has formally agreed to stay on at the euro zone central bank until a successor is ready to take over the role, according to a Reuters report.
Central bank of Kenya to remove illegal accounts
Kenya's central bank plans to crack down on illegal accounts and secret banking services, according to a report in The Nation. The governor said the bank was fully aware of the practice and was "developing thoughts" on how to eliminate it.
Bank of France to get public service contract
A draft contract covering the Bank of France's public service obligations for the period 2003-2006 has been drawn up, according to Le Monde. This is the first such contract to be drawn up by the central bank and the state.
UK ministers may fight Brown on euro vote
According to the Financial Times, a member of Tony Blair's cabinet has indicated his determination to oppose any attempt by the chancellor to rule out a referendum on the euro by saying publicly the pound had fallen to levels that would make British…
Looters strip Baghdad's banks of cash
Iraq's battered central bank has been ransacked many times by mobs of looters who hunt for any banknote not incinerated, reported Middle East Online.
BoJ can increase bank shareholdings
The Bank of Japan could increase its purchase of shares held by Japanese banks as part of its drive to protect them from falling stock prices, says BOJ governor Toshihiko Fukui as reported by Associated Press as
ECB officials give conflicting signals on rate cut
Speaking separately this week two ECB Governing Council members gave conflicting views on what a fall in inflation below the ECB's 2 per cent target would mean for interest rates, according to Bloomberg report.
Perng says SARS unlikely to harm NT dollar
The SARS outbreak is unlikely to have a significant impact on Taiwan's economy. That was the view expressed by Central Bank of China governor Perng Fai-nan to Taiwan's finance committee on Thursday 17 April, reports the Central News Agency.
New York Fed's McDonough will attend May 6 FOMC
William McDonough will attend the Federal Reserve's May 6 meeting of the FOMC before taking up his position at the SEC, the Fed said on Wednesday 16 April, Reuters reports.
Report questions virtues of inflation targeting
A study published by the National Bureau of Economic Research suggests that adopting an inflation target has no effect on a country's economic performance, according to a report by Dow Jones.
Russian Fin Min: Inflation target will be hit
The Russian finance ministry has said it expects inflation to remain under its 12 per cent target for 2003, according to the Moscow Times.
Estonian c bank says gov't should balance budget
A report on Estonian Radio said that the president of the Baltic nation's central bank, Vahur Kraft, has told the ruling coalition that the budget must be balanced or investor trust will be lost.
Slovak c bank's first quarter loss near prediction
The National Bank of Slovakia reported on Monday that it made a loss for the first quarter of 2003, acording to a report from TASR. The loss was mainly due to fluctuations in the koruna currency's rate.
Bank of Russia changes exchange rate mechanism
Russia's central bank has changed the procedure by which it establishes the rouble exchange rate with the dollar. Pravda reports that the bank will now use the average-weighted rate of the US dollar at the Unified Trading Session (UTS) of the inter-bank…
Fed's McDonough to head new SEC accountancy board
US regulator the Securities and Exchange Commission has voted unanimously to appoint Federal Reserve Bank of New York president William McDonough as chairman of the accounting oversight board, according to a report by Associated Press.
LDP's Yamasaki says expects more steps from BOJ
A senior Japanese politician said on Wednesday 16 April he had confidence that the Bank of Japan would adopt new measures to boost Japan's ailing economy, Reuters reports.
Chilean Senate approves new Central Bank director
Chile's senate has approved the appointment of Vittorio Corbo to the board of directors of the Central Bank of Chile, according to a Reuters report. President Ricardo Lagos is widely expected to name him as the new central bank chief shortly.
Mexico's central bank net reserves, assets rise
The Bank of Mexico's reserves have risen just over $0.15 billion since the start of April, the bank said on Tuesday 15 April, according to Reuters.
Argentine peso dips amid monetary expansion talk
The Argentine peso has suffered amid slack demand for the U.S. currency as local investors have taken advantage of high interest rates of up to 25 percent offered on deposits, according to a report from Reuters.
Union reps at Bank of France call for demo
French unions are calling for Bank of France staff to demonstrate against the restructuring of the Bank's network of regional branches Le Figaro said.
Venezuela central bank cuts rate to 36 pct
Venezuela's central bank cut interest rates to 36 percent as tight currency controls and price curbs to shore up international reserves continue.