News
Fears over narrow inflation targets
Wolfgang Munchau criticises overemphasis on inflation targets in a column in the Financial Times. Inflation targets have done good work in bringing down inflation and inflation expectations, he says, but with that battle won, perhaps they are no longer…
Kohn to replace Gramlich on loan guarantee boards
Federal Reserve Board Chairman Alan Greenspan on Wednesday 17 August named Governor Donald L. Kohn to replace Governor Edward M. Gramlich as the Chairman's designee on four federal loan guarantee boards, effective 1 September.
Greenspan's marriage proposal - 'so oblique'
A recent interview with Fed chairman Alan Greenspan's wife revealed a few details on the maestro.
Italy's Fazio to quit, but may take a while
An article published this week says Bank of Italy Governor Antonio Fazio will eventually yield to the relentless pressure on him to resign, but it may not happen for some time. One reform that seems almost sure to emerge from the affair is the…
China's 'visionary' Zhou leads yuan float push
An article published on Wednesday 17 August looks at People's Bank of China governor Zhou Xiaochuan in depth. He was a visionary on yuan reform long before it became a global issue, it says, and moved steadily up the banking and finance hierarchy through…
Argentina's central bank deputy dismissed
Argentine President Nestor Kirchner has removed central bank vice-president Ricardo Branda from office. Branda is under formal investigation for alleged corruption.
Modest pay, one term 'best' for central bankers
A new study says that Europe's central bank chiefs should receive only modest pay and serve just a single term in office to avoid self interest creeping into interest rate decisions. It also found that limited terms and confidential interest rate…
Kidnap! Iraq's central bank manager seized
Gunmen have kidnapped the general manager of the Central Bank of Iraq in front of his home in eastern Baghdad, state-owned television reported.
Robbery! Brazil's central bank loses $68m
How do you lose $68m? The central bank of Brazil is asking itself the same question after thieves tunnelled in to bank and made this massive withdrawal.
China appoints new central bank vice governor
Hu Xiaolian has been appointed vice governor of the People's Bank of China (PBOC) by China's State Council, the cabinet, according to the official Xinhua news agency.
Bank of Canada's speech for 25 August cancelled
A speech that Bank of Canada deputy governor Sheryl Kennedy was due to give in New Brunswick on 25 August has been cancelled, the central bank said on Thursday 19 August.
Govt won't seek Fazio resignation - minister
The Italian government will not seek the resignation of central bank governor, Antonio Fazio, despite pressures for his removal because of his opposition to the takeover of two Italian banks by foreign companies, a minister was reported as saying by a…
Academics discuss East Asian Monetary Union
Academics meeting on Friday 19 August called for Asian nations to set up a regional cooperative body similar to the EU and adopt a common East Asian currency.
Budget misquoted says BoT governor
Bank of Thailand governor Pridiyathorn Devakula confirmed Thursday 18 August that the investment budget of the government's infrastructure development projects remains unchanged at 1.7 trillion baht and admitted that he had seen the wrong investment…
Philippine cb expects more bank consolidation
Philippine central bank governor Amando Tetangco told reporters on Thursday 18 August he expects the banking sector to continue consolidating this year.
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.