News
NY Fed conference on The Economics of Payments II
The Federal Reserve Bank of New York published on Thursday 18 August a call for papers for a conference on "The Economics of Payments II," being held from 29-30 March 2006.
RBA could hold meetings 'every two months'
The Reserve Bank of Australia could meet every second month, rather than holding the current monthly monetary policy meetings, a former central bank board member said.
Iran and Bahrain link ATM systems
The Iranian ATM system has been connected to that of Bahrain, allowing the customers of Bahraini banks to use the ATM machines in Iran and vice versa.
Serb central bank upbeat on IMF warning
Radovan Jelasic, governor of Serbia's central bank, predicted on Tuesday 16 August that the government would react positively to warnings from the International Monetary Fund that its loan arrangement was in jeopardy.
Growth rate in Korea at second-lowest: ADB
Korea's economic growth rate for 2006 will be the second-lowest out of a dozen Asian economies, the Asia Development Bank predicted in a report.
Copom holds Selic at 19.75% with no bias
The monetary policy committee of the Brazilian central bank announced Wednesday 17 August after its two-day meeting that, as expected, it is holding Selic (base rate) unchanged at 19.75% annually with no bias.
World Bank projects China's growth to slow
China's economic growth will fall to about 8 percent in 2006 from 9 percent this year as domestic demand declines, the World Bank predicted Wednesday 17 August.
Singapore, UAE sign MOU on securities markets
The Monetary Authority of Singapore (MAS) said on Tuesday 16 August that it has signed a Memorandum of Understanding (MOU) with the Emirates Securities and Commodities Authority (ESCA) of the United Arab Emirates (UAE).
SNB says rates won't stay low for long
A recovery in the Swiss economy will probably take interest rates higher sooner rather later, according to a central bank board member in a newspaper interview published on Wednesday 17 August.
Colombian central bank to sell reserves to govt
Colombia's central bank said on Tuesday 16 August that it will sell more foreign reserves to the government, in a similar deal to a $1.25-billion sale carried out earlier this year to pay off a debt.
Poland's Walesa: EU membership of limited value
Lech Walesa has said European Union membership has failed to improve living standards enough or increase the nation's influence in EU policymaking.
Romania's central bank reports inflation falling
Romania's central bank governor said on Monday 15 August that the economy was growing strongly and he expected inflation to fall in the third quarter of this year.
Bank Indonesia says rupiah rate 'realistic'
Bank Indonesia governor Burhanuddin Abdullah said the 2006 draft budget assumption of the rupiah's average exchange rate next year at 9,400 to the US dollar is "realistic".
Malaysia to play key role in financial integration
Malaysia can play a significant role in integrating East Asian financial markets such as developing the Asian Bond Market (ABM), Asian common currency and the proposed Asian bond banks, economics professor Dr S. Ghon Rhee said.
PBOC issues property bubble warning
The People's Bank of China warned Monday 15 August that China faces a potential property "bubble" which could leave banks with huge losses if it burst.
China agency calls for yuan band widening
China's National Development and Reform Commission has suggested that the yuan's trading band be widened to 2 percent from the current 0.3 percent.
India to ensure stability in forex market
India will ensure stability in the country's $12bn-a-day foreign exchange market amid surging inflows and will maintain its slow pace in opening up the capital account, a senior Reserve Bank of India official said.
PBOC says money supply growth 'suitable'
M2, the broad measure of money supply, grew 16.3 per cent year-on-year by the end of July, the People's Bank of China (PBoC) announced in Beijing Friday 12 August.
Buba report says weak growth in EU 'real' problem
The Bundesbank published its August monthly report on Monday 15 August, saying that weak economic growth in the EU is responsible for feelings of discontent with eurozone economic growth.
Ghana's Acquah: W Africa may face financial crisis
Governor of the Bank of Ghana, Dr. Paul Acquah, expressed fear at the weekend of an impending financial crisis in the Economic Community of West African States (ECOWAS).
Inflation view falls to 5.4% in Brazil
The average market forecast for Brazil's benchmark inflation index fell on Monday 15 August for the 13th straight week to 5.4 percent.
Calvin Mitchell to take over New York Fed role
Calvin A. Mitchell III was named senior vice president of the Federal Reserve Bank of New York in charge of the bank's public information area on Monday 8 August.
Interview with ECB's Issing
In an interview published on Tuesday 9 August, ECB Chief Economist Otmar Issing said that recently the eurozone economy has seen a series of positive signals. However risks to the outlook remained on the downside, he said, particularly with the continued…
Bank of Korea chief pledges wealth to education
The governor of the Bank of Korea, Park Seung, said this week that he is willing to donate his personal wealth to help the nation's education when he dies.