News
Germany's Clement says ECB rate cut overdue
German Economy Minister Wolfgang Clement has criticised the European Central Bank for failing to give the region's economy a boost by cutting rates at a time when conditions would have been more easily able to cope with relaxation of monetary policy.
BoE's Large fuels rate cut talk
Bank of England policy maker Andrew Large gave an interview on Wednesday 27 July which is likely to fuel expectations that UK interest rates would fall next week for the first time in two years.
Brazil cb and Congress to improve bank controls
Brazil's central bank and lawmakers will seek ways to improve control over the financial system, the bank said in a statement sent by e-mail.
Market to decide yuan's value according to PBOC
The People's Bank of China has insisted that it would allow markets to set the value of the yuan following last week's 2.1 percent adjustment, state media reported Thursday.
Fed launches online financial education project
The Federal Reserve Board on Tuesday 26 July launched a new online project with USA Today that teaches middle school and high school students about economics and personal finances by challenging them to construct a newspaper front page.
China yuan move helpful says Fed's Gramlich
US Federal Reserve governor Edward Gramlich has said China's decision to revalue its yuan currency was a positive step that should help reduce global economic imbalances.
BOJ's Fukui says prices may rise from late 2005
Bank of Japan governor Toshihiko Fukui told a news conference on Wednesday 27 July that the consumer price index may rise from late this year or early 2006 as the BOJ kept monetary policy unchanged.
China should be allowed to join says OECD chief
Donald Johnston, secretary general of the Organization for Economic Cooperation and Development ( OECD), said in an interview on Tuesday 26 July that China should be admitted as a member of the organisation.
Malaysia will rely on central bank over ringgit
Malaysia has revealed that it will rely on central bank intervention rather than a currency trading band to maintain the stability of its managed float of the ringgit.
Statement by People's Bank of China on yuan
The People's Bank of China issued a statement on Tuesday 26 July which played down market speculation of further rises of the yuan after last week's 2.1-percent yuan revaluation.
IMF's Rato saddened at Sharm el-Sheik bombings
International Monetary Fund Managing Director Rodrigo de Rato issued a statement on Monday 25 July in reaction to the 23 July bombings in Sharm el-Sheik, Egypt.
Central banks of Kosovo and Albania sign MoU
The Banking and Payments Authority of Kosovo (BPK) and the Central Bank of Albania have signed a Memorandum of Understanding on bank supervision.
Zimbabwe, China sign economic cooperation deal
Zimbabwean President Robert Mugabe and Chinese leader Hu Jintao signed an agreement on economic cooperation on Tuesday 26 July.
RBI sees consequences from China rate move
The Reserve Bank of India said on Tuesday 26 July that the shift in exchange rate policy announced by China was likely to have important consequences for the global economy.
PBOC denies reports on currency
The People's Bank of China warned on Tuesday 26 July that it has no plans to allow sharp increases in the yuan's value, saying a 2 per cent increase last week was part of an exchange-rate reform and not an initial step to more increases.
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.