News
Central Bank of Iceland appoints new chairman
The Central Bank of Iceland has appointed Davi Oddsson governor and chairman of the Board of Governors. The move followed Birgir sleifur Gunnarsson's decision to retire.
Fed to publish Bulletin online
The Federal Reserve Board announced on Thursday 22 September that beginning in 2006, the content of the Federal Reserve Bulletin will be published on the Board's public website (www.federalreserve.gov) on a continuing basis, as it becomes available.
IMF says oil prices pose threat to world economy
High oil prices are threatening continued global expansion, the top official of the International Monetary Fund (IMF) told a press conference on Thursday 22 September.
IMF endorses adjustment to (AML/CFT) program
The IMF said on Thursday 22 September that it has endorsed an adjustment of the IMF's anti-money laundering/combating the financing of terrorism (AML/CFT) program to focus more on tackling the challenges faced by countries implementing standards and…
Oil set to be main topic for G7 meeting
Japan's finance minister said Friday's G7 meeting of top finance ministers and central bankers would discuss soaring oil prices as the main topic and talks on China's currency reform may be low-keyed for now.
Hungary central bank row could trigger sell-off
Souring relations between the Hungarian government and the country's central bank could unnerve investors and trigger some sell-off in Hungarian assets such as bonds and stocks, according to a report issued by Dresdner Kleinwort Wasserstein cited by MTI…
UK completes world's first 50 year indexed bond
The UK completed the syndication of its first fifty-year inflation linked bond on Friday 23 September, achieving a price and coverage which demonstrated the strong demand for long-dated bonds, and investors' enthusiasm for inflation protection at this…
Gulf central banks plan single currency reserve
Gulf central banks are creating a reserve to support the single currency that is on track to be launched by 2010, the UAE Central Bank governor has said.
Venezuela central bank transfers US$3bn
Venezuela's central bank has transferred US$3 billion of its foreign exchange reserves to a newly created fund to support public projects, the finance minister said Friday 23 September.
Statement by Roger Ferguson on the IMFC meeting
The Financial Stability Forum (FSF) held its fourteenth meeting on 8-9 September 2005 in London. The issues discussed included: risks and vulnerabilities in the international financial system; the resilience of the financial system to shocks and lessons…
Italian economy minister resigns
Italy's Economy Minister Domenico Siniscalco has resigned because of government infighting over the 2006 budget and the administration's failure to oust Bank of Italy Governor Antonio Fazio over a banking scandal, the Treasury said.
BoJ's Nishimura sees no need for liquidity cut
Kiyohiko Nishimura, one of the Bank Japan's nine policy board members, sees no need to end the bank's super-loose monetary policy and cut its liquidity reserve target any time soon even as the country shows signs of pulling out of its deflationary cycle,…
Hurricanes may delay US current account correction
European Central Bank board member Lorenzo Bini Smaghi said in an interview that costs resulting from hurricanes in the Gulf of Mexico could mean that the US will be unable to correct its large current account deficit for some time.
Mersch sees threat to prices from oil
ECB Governing Council member and Luxembourg central bank governor Yves Mersch has said high oil prices are still pushing up inflation.
US, China central banks to discuss currency reform
The US has said it hopes to have more discussions this week with China on its currency reforms and ways to reverse the United States' rising trade deficit.
RBA to dispose of gold coin holding
The Reserve Bank of Australia said on Wednesday 21 September that it has decided that it does not need to continue to hold the large quantity of gold coins it has held for many years.
Fed hikes rates again, but Olson dissents
The FOMC decided on Tuesday 20 September to raise its target for the federal funds rate to 3.75%. In a statement it maintained its 'measured' pace for removing policy accommodation and revealed that Mark Olson had voted to keep rates unchanged.
Confidence in stability keeping rates low- Trichet
Interest rates in the Eurozone are at their lowest level thanks to confidence in price stability inspired by ECB policy, European Central Bank president Jean-Claude Trichet said, in an interview to be published in Le Figaro.
Bank of England's MPC united on rate vote
Minutes from the Bank of England's 7 and 8 September meeting released on Wednesday 21 September showed policy makers voted unanimously to keep interest rates unchanged.
Liebscher says property prices won't influence ECB
European Central Bank Governing Council member and Austrian Central Bank Governor Klaus Liebscher said in an interview that the ECB would not raise interest rates solely as a result of rising real estate prices in some eurozone countries.
South Africa plans no change to inflation target
Treasury Director General Lesetja Kganyago has said South Africa has no plans to modify its inflation targeting framework to aim for the middle of the established three to six per cent target range.
New Bank of Israel law agreed
The Israeli government has agreed to the wording of a new Bank of Israel Law that would transfer responsibility for setting interest rates from the central bank governor alone to a monetary committee.
NY Fed statement on credit derivatives meeting
The Federal Reserve Bank of New York hosted a meeting with representatives of major market participants and their domestic and international supervisors on Thursday 15 September.
What future for central banks?
The London School of Economics is hosting a public lecture on Thursday 24 November. 'What future for central banks?' will be presented by Howard Davies, director of the LSE and chaired by Professor Charles Goodhart.