News
Takenaka proposal on bad loans faces scrutiny
With the timetable for measures aimed at addressing Japan's bad loan problem announced last Friday, Heizo Takenaka said the proposals would be rigorously implemented.
Laws of physics show market 'anti-bubble'
Researchers from the University of California have found that when statistical methods used in physics were applied to the markets they found an 'anti-bubble' the opposite of a speculative bubble.
Bundesbank may sell some of its gold
The Bundesbank may sell some of its US$35 billion of gold to buy more profitable assets, executive board member Hans-Helmut Kotz said. In April we reported that Bundesbank President Ernst Welteke said that the international agreement limiting gold sales…
Russian, Chinese to work against money laundering
During the current visit to Beijing by Russian President Vladimir Putin, the Central Bank of Russian (CBR) and the People's Bank of China have signed an agreement on cooperation in counteracting the laundering of criminally obtained incomes and the…
Report hints UK Treasury to reject 2003 euro entry
Gordon Brown has warned of the dangers of Britain accepting "rigid rules" to govern the economy, a move observers say further indicates the Treasury's intention to reject entry to the euro next year.
Claim Turkmen president staged attempt on his life
The saga of the attempted assassination on the Turkmenistan president continued over the weekend with former central bank chief Hudayberdi Orazow claiming Saparmyrat Nyyazow stage managed his own failed assassination.
Issing: ECB not satisfied with inflation rate
European Central Bank Chief Economist Otmar Issing Monday attempted to debunk talk of deflationary risks in the euro zone, indicating that stagflation is actually a bigger risk for the region. The ECB's Governing Council meets this week and is widely…
Euro group meets to study future of stability pact
Euro group finance ministers met on Monday for the first time since Brussels proposed new ideas to strengthen the 12-nation zone's much-maligned stability pact. The pact, while staunchly defended by the ECB as 'indispensable' has received much criticism…
Egypt central bank plays active money market role
A new general monetary policy will be applied to push forward the national economy, the Governor of the Central Bank of Egypt (CBE) Mahmoud Abul Eiyoun said Wednesday.
Inflation worries Greek central bank
The Bank of Greece has warned of the danger of inflationary pressures building up and has called on the government to take measures. Central bank Governor Nikos Garganas met with Prime Minister Costas Simitis earlier this week and discussed this issue.
Play more golf says Tito Mboweni
While CentralBanknet has long been aware of South African Reserve Bank Governor Tito Mboweni's passion for fly fishing, his love of golf came as a surprise to us.
Bernanke speech comments cause surprise
Ben Bernanke, newly-appointed Fed governor and an advocate of inflation targetting, has revealed the Fed's secret weapon in combating the perils of deflation: the printing press.
Japan begins stock purchase policy
The Bank of Japan's programme to buy shares from the country's ailing banking sector officially started Friday, but the bank is being coy about any actual purchases.
Russia central bank forecasts falls in inflation
The Central Bank of Russia [CBR] will conduct its monetary and credit policies proceeding from the assumption that inflation will steadily decline as of next year, from 10-12 per cent expected in 2003 to 8 per cent in 2005.
Welteke suggests ECB rates may be cut soon
A member of the European Central Bank's governing council suggested in comments published Friday that the bank could cut interest rates by as much as half a percentage point next week, more than a year after it last made a change.
Sweden names date for euro referendum
Sweden will hold a referendum on whether to adopt the single European currency, the euro, on 14 September 2003, Swedish Prime Minister Goran Persson said Friday following a meeting of political party leaders.
ECB may be ready to cut rates - Lucas Papademos
European Central Bank Vice-President Lucas Papademos on Wednesday gave the latest sign the bank was ready to reduce interest rates, saying the improved inflation outlook gave more room for a rate cut. The ECB Governing Council is due to meet on 5…
Rand near year highs ahead of rate news
South Africa's rand hovered near 13-month highs against the dollar as investors waited for the outcome of the central bank's quarterly monetary policy meeting.
Russian premier wants relaxed currency regulation
At Thursdays meeting of the cabinet, Russian Prime Minister Mikhail Kasyanov stressed the need to liberalise currency regulation in the country. As we reported Wednesday, the proposal has divided politicians and the central bank with the latter calling…
Ukrainian central bank chief under pressure to go
Rumblings at Ukraine's national bank continue as the chairman, speaking on Thursday, said he had not been asked to resign and parliament had refused presidential requests to dismiss him.
US economy grew slowly in October, November
The U.S. economy remained sluggish in late October and early November, with districts cautiously optimistic about the outlook, the Federal Reserve revealed Wednesday in its regular Beige Book.
Egypt central bank sets new monetary policy plan
Egypt's central bank governor has announced details of instruments that would be introduced under a new monetary policy which would encourage greater transparency in the market. Earlier in October we reported that Egyptian President Hosni Mubarak was set…
Currency regulation divides Russian officials
The proposed removal of Russia's currency controls which we reported last week seems to have set the government against the central bank who are calling for a more conservative approach.
Kazakh national bank to pay 50 per cent less tax
The profits tax paid to the state budget by the Kazakh National Bank will be 50 per cent down in 2002 on the 2001 figure, it was reported on 25 November, quoting the bank's chairman, Grigoriy Marchenko.