News
IMF letter on the famine in Niger
In a letter published by The Independent newspaper on Friday 5 August, the IMF's Director of External Relations, Thomas Dawson, defended the Fund against accusations that the IMF contributed to the crisis in Niger.
Australian govt to quiz RBA chief on economy
Reserve Bank of Australia governor Ian Macfarlane will be grilled Friday 12 August on the chances of another rate rise, or possibly a rate cut, in coming months.
German finance minister calls for ECB rate cut
German Finance Minister Wolfgang Clement called on the European Central Bank to cut interest rates, saying it was "remarkably" more reserved than other central banks.
Taiwan central bank denies extraordinary meeting
The Central Bank of China, Taiwan's central bank, denied on Thursday 11 August that it is planning to call an extraordinary board meeting in the near term.
Philippines, EC sign anti-money laundering pact
The European Commission (EC) and the Philippines have signed a 73-million peso (1.33-million US dollars) financing agreement to assist with the country's anti-money laundering drive, Foreign Affairs Secretary Alberto Romulo has said.
Norway keeps interest rates unchanged at 2%
Norway's central bank held its key deposit rate steady at 2.0 percent on Thursday 11 August as was widely expected.
Fed raises rates, maintains measured stance
The Federal Open Market Committee decided on Tuesday 9 August to raise its target for the federal funds rate by 25 basis points to 3-1/2 percent. The FOMC maintained its measured stance on monetary policy accommodation.
IMF letter on prospects for ECB rate cut
In a letter published by the Financial Times on Tuesday 9 August, Michael Deppler of the IMF said international developments suggest that the worst may be over on growth in the eurozone but point to further upward pressure on headline inflation because…
China reveals details of yuan basket
China announced major currency market reforms on Wednesday 8 August and also published details of the basket of currencies to which the bank refers in managing the float of the yuan.
Government to discuss Bank of Italy on 26 Aug
The Italian government will hold a ministerial meeting on Aug 26 to discuss the Bank of Italy and its recent clearances of bank takeover bids, a report by news agency Radiocor said.
RBI's Reddy says oil prices need careful response
Reserve Bank of India Governor Y.V. Reddy said on Wednesday 10 August that the central bank would carefully respond to volatile oil prices as it impacts inflation and the exchange rate.
Belgium's central bank offloads 30 tonnes of gold
Belgium's central bank said on Wednesday 10 August it had sold 30 tonnes of gold in July and August, leading to an increase in the yield on its assets.
US Treasury confident of China yuan moves
The Bush administration expects China will continue to move toward greater currency flexibility even though the steps taken so far have been small, a top Treasury Department official said.
BOJ chief says public-sector reform vital
Bank of Japan governor Toshihiko Fukui told a press conference on Tuesday 9 August that public-sector reform is vital to domestic economic growth.
ECB's Issing sees positive signals on economy
European Central Bank chief economist Otmar Issing said in an interview there have been a series of positive signals on the economy, but said high oil price could curb growth.
Bank of Italy bomb scare is false alarm
Police alerted by an anonymous phone call checked for a bomb near the Bank of Italy's headquarters in Rome on Tuesday 9 August but later called off the search when no device was found, authorities said.
Fed expected to raise rates again
It was expected that the Federal Reserve would increase US interest rates again for the tenth consecutive time at the conclusion of its FOMC meeting on Tuesday 9 August.
IMF's Rato concludes Ukraine visit
Rodrigo de Rato, Managing Director of the International Monetary Fund, issued a statement Friday 5 August at the conclusion of his visit to Kiev. The IMF chief said he was confident on Ukraine's economic outlook.
Economist says China should resist yuan pressure
A senior Chinese economist and government advisor has said China should not give in to further US pressure to change the value of the yuan following last months shift.
Malaysia reports reserve increase
The international reserves of Bank Negara surged to RM298.7 billion (US$78.7 billion) as at 29 July. This was a RM12.89 billion increase from the 15 July figure, the BNM said.
Kosovo's BPK unlikely to become central bank
The head of Pillar IV has said the Banking and Payment Authority of Kosovo (BPK) will not be denominated as the central bank.
Study says euro could be top reserve by 2022
A paper published this week says the euro could replace the dollar as the world's dominant reserve currency within 20 years if Britain and other EU countries adopted the unit and the US currency continues to slide.
Christopher Cox sworn in as SEC chairman
With his wife Rebecca standing at his side, Christopher Cox took the oath of office to become the 28th Chairman of the Securities and Exchange Commission from Federal Reserve Chairman Alan Greenspan on Wednesday 3 August.
Wim Duisenberg
This obituary for former European Central Bank president Wim Duisenberg, who died on Sunday 31 July, contrasts his rough ride at the ECB with the high reputation he had enjoyed among fellow central bankers during his tenure as governor of the…