News
Mexico keeps its inflation target at 3 per cent
The Bank of Mexico on Wednesday played down the prospects of direct intervention in the foreign exchange markets to support the peso, as it unveiled a monetary policy for this year that maintains its target of 3 per cent inflation for the year.
Roger Ferguson joins CGFS as chairman
The Bank for International Settlements, owned by the world's leading central banks, has appointed Roger Ferguson as chairman of its committee on the global financial system. The CGFS is a central bank forum for monitoring and examining issues relating to…
Trichet casts loans blame on ex-minister at trial
French central bank governor Jean-Claude Trichet claimed on Wednesday that former finance minister Pierre Beregovoy ignored a series of warnings over risky loans which almost brought down the then state-owned Credit Lyonnais bank in the early 1990s.
Mizoguchi says Japan shares Fed view on US economy
Japan's top financial diplomat, Zembei Mizoguchi, said on Thursday that Japan shares the Federal Reserve's view on the U.S. economy, but said he had no comment on short-term moves in the forex market.
Treasury's Fisher declines comment on Fed job
Senior U.S. Treasury official Peter Fisher on Wednesday declined to comment when asked about reports he is a leading candidate to head the New York Federal Reserve Bank after the retirement of William McDonough in July.
Bank of England's model comes in for criticism
Research has cast doubt on the accuracy of forecasting models used by the Bank of England. It suggests the models forecast for inflation two years ahead was on average 0.5 percentage points too high.
Hong Kong Monetary Authority Press Release
PRESS RELEASE - Mr Joseph Yam, Chief Executive of the Hong Kong Monetary Authority, met with Mr Zhou Xiaochuan, the newly appointed Governor of the People's Bank of China, in Beijing today, 29 January.
ECB Press Release
PRESS RELEASE - Measures to improve the efficiency of the operational framework for monetary policy, 23 January.
Paraguayan president central bank corruption claim
Impeachment proceedings have begun against Paraguay's President Luis Gonzalez Macchi. The President is accused of five counts of corruption, including the embezzlement of US$26m from the central bank.
Treasury Committee assess euro entry prospects
A series of hearings continued Tuesday with a distinguished panel of experts giving evidence to the UK's Treasury Select Committee on the prospects for UK euro entry. The group called for reform of the ECB with a redefined inflation target and gave a…
Soros criticises EU budget rules inflation focus
Renowned U.S. financier and philanthropist George Soros criticised the euro zone's strict budget rules Monday, saying there are serious problems in the management of the common currency that must be resolved.
Bahrain to upgrade bank law
Bahrain has hired two well known international consultants to assess and update its monetary regulations, particularly on Islamic finance.
Inflation target may harm economy, says Koizumi
Junichiro Koizumi, Japan's prime minister, on Wednesday appeared to back away from recent suggestions that he will appoint an inflation hawk at the Bank of Japan, saying an inflation target could harm the economy.
Polish central bank cuts interest rates
Poland's central bank announced a cut in interest rates Wednesday, moving to stimulate the sluggish economy after inflation fell to a record low.
Appointment of Irish bank staffer branded 'farce'
The appointment of a second Irish central bank executive to a key post in the new Irish Financial Services Regulatory Authority (IFSRA) has been criticised as a "farce and a disgrace".
Minutes of Japan's Monetary Policy Meeting
MINUTES - Minutes of the Bank of Japan's Monetary Policy Meeting on 16 and 17 December 2002, released 27 January. Japan's Ministry of Finance pressured the BOJ to increase its monthly purchases of government bonds to two trillion yen ($16.97 billion)…
Japan's Shiokawa, Hayami disagree over yen policy
Japan's finance minister and its central bank chief clashed over exchange rate policy on Tuesday, with Finance Minister Masajuro Shiokawa supporting a weaker yen.
Settlement link - HKMA and Clearstream goes live
The Hong Kong Monetary Authority said Tuesday a direct link between its transaction settlement system and Europe's Clearstream system has gone live.
Beijing signals ease of controls on interest rates
China's new central bank governor will loosen controls on interest rates further by widening the band on lending rates and experimenting with floating deposit rates in more areas, state media said Monday.
Klein leaves February's interest rates unchanged
Bank of Israel Governor David Klein decided Monday to leave the central bank's key lending rate unchanged for the month of February, and interest rates will stand at 8.9%.
Bank of France chief Trichet takes stand at trial
Bank of France Governor Jean-Claude Trichet, the would-be president of the European Central Bank, testified for the first time on Monday in a financial scandal trial that could rule the 60-year-old Frenchman out of the top job at the ECB.
France's Chirac - Duisenberg must be out by 9 July
French President Jacques Chirac has made clear to top European officials that he does not want European Central Bank President Wim Duisenberg to stay in office any longer than his scheduled summer leaving date of 9 July.
SBP to unveil monetary policy paper in Feb
Pakistan's central bank plans to publish a document that will outline its monetary stance for the months ahead, a central bank spokesman has said. This would be the first time the central bank has issuing such a document, which is likely to come out in…
IMF Press Release
PRESS RELEASE - IMF Approves Transitional Stand-By Credit Support for Argentina, 24 January.