News
Reports claim China told US of yuan plan
News reports on Monday 25 July said that US officials were informed by the Chinese government in advance of its decision to drop its currency's link to the dollar last week and raise its exchange rate.
ECB's Paramo says Q2 growth likely below Q1
European Central Bank Executive Board Member Jose Manuel Gonzalez-Paramo said in an interview published on Monday 25 July that the eurozone economy probably grew slightly less in the second quarter of this year than in the first, but longer term it…
PBOC chief says yuan move an 'initial' step
The governor of China's central bank speaking on Saturday 23 July, described last week's revaluation of the yuan as an initial step whose benefits outweighed the disadvantages.
China cb adviser says revaluation buys time
Yu Yongding, a member of China's central bank monetary policy committee said in remarks published Monday 25 July that last week's 2.1 percent revaluation of the yuan and an accompanying shift to a managed float buy time for China.
BSP appoints Guinigundo deputy governor
Bangko Sentral ng Pilipinas governor Amando M. Tetangco, announced the appointment of economist Diwa Guinigundo, 51, on Thursday as deputy governor of the BSP's Monetary Stability Sector.
Interview with St Louis Fed's Poole
In an interview published this week Federal Reserve Bank of St Louis president William Poole said the U.S. economy is on solid ground, inflation is under control and market forecasts for higher Federal Reserve interest rates are reasonable.
Former Central Bank of Malta governor dies
Anthony Galdes, who headed the Central Bank of Malta from 1987 to 1993, died this week aged 74, after a lifelong commitment to public service.
Former Reserve Bank of India governor dies
Former governor of the Reserve Bank of India Indravadan Gordhanbhai Patel, died in a New York hospital on Sunday night, family sources were quoted as saying.
Venezuela's Rojas enters race for IADB chief
A Venezuelan candidate has emerged to further complicate the contest to elect a new head of the Inter-American Development Bank.
Bernanke won't advise on Fed chairman choice
Ben Bernanke said on Monday he will not be involved in advising President George W. Bush on whom he should pick to succeed Alan Greenspan as chairman of the Federal Reserve.
FOMC Minutes, 29-30 June
Minutes from the Federal Reserve's 29-30 June meeting published on Thursday 21 July showed policy-makers agreed that they had to be specially vigilant for signs of rising inflation and that they needed to keep raising interest rates.
China's currency conundrum
This article published on Thursday says that China's decision to revalue its currency by 2.1% and introduce a new currency basket for determining future exchange rate moves is an important step in the evolution of the country's monetary policy and…
Interview with PBOC's spokesman on exchange rate
Following the announcement by the People's Bank of China that the country will implement a regulated, managed floating exchange rate system based on market supply and demand, the People's Daily Online edition carried an interview with the PBOC's…
Central bankers support China's move on yuan rate
The Group of Seven leading industrial nations on Thursday praised China's decision to revalue its yuan currency and said it would help the global economy.
HK's Acting Financial Secretary welcomes reform
In response to the announcement made by the People's Bank of China Thursday evening, Hong Kong's Acting Financial Secretary, Stephen Ip welcomed the latest reform to the renminbi exchange rate regime.
MAS says increased S$ volatility not expected
The Monetary Authority of Singapore said it does not expect greater volatility in the Singapore dollar as a result of the revaluation of the yuan and ringgit.
Zimbabwe devalues currency by almost 40%
The Reserve Bank of Zimbabwe has announced a 39% devaluation of the Zimbabwe dollar, to Z$17,500 to the US dollar, as part of a package of reforms designed to reverse the country's precipitous economic decline.
Venezuela's president signs central bank reforms
Venezuelan President Hugo Chavez has signed a partial reform to the Central Bank Law to authorise investing six billion US dollars of hard currency reserves in social programs.
People's Bank of China: Statement on exchange rate
The People's Bank of China released a statement on Thursday 21 July following the announcement that it is revaluing its currency and scraping the yuan's decade-old peg to the dollar in favour of a basket of currencies.
Japan welcomes China yuan decision
Japan welcomed China's decision on Thursday 21 July to end its currency's peg to the U.S. dollar and other Asian officials said they were closely watching developments.
Malaysia scraps ringgit peg to the dollar
Bank Negara Malaysia announced Thursday 21 July that it is scrapping the ringgit's seven-year old peg to the dollar and moving to a managed float against a basket of currencies with immediate effect.
OECD Secretary-General pleased by China move
OECD Secretary-General Donald Johnston made a statement in reaction to China's announcement Thursday 21 July to remove its currency's fixed peg to the US dollar.
China repegs yuan to basket of currencies
The People's Bank of China (PBoC) said on Thursday 21 July that it has scrapped the yuan peg to the US dollar and repegged the Chinese unit to a basket of trade-weighted currencies.
CBI begins 45th annual general assembly
The 45th annual general assembly of the Central Bank of Iran (CBI) commenced in Tehran on Thursday 21 July with President Mohammad Khatami presiding over the session.