News
Senate backs Tombini to central bank of Brazil
Brazil's Senate Economic Affairs Committee on 24 May recommended the Senate confirm the nomination of Alexandre Tombini as central bank director for special studies.
Bell to leave Bank of England's MPC
The UK Chancellor, Gordon Brown, on Thursday 26 May announced the appointment of David Walton to the Bank of England's Monetary Policy Committee (MPC) to succeed Marian Bell. The appointment will take effect on 1 July.
Schroder defeat could end Bofinger's ECB hopes
A defeat by Chancellor Gerhard Schroder in Germany's election in September could spell the end for Peter Bofinger's chances of succeeding Otmar Issing as the German representative on the European Central Bank's six-man executive board.
Who will fill Greenspan's shoes?
This article published on Thursday 26 May speculates on Alan Greenspan's successor at the Fed. Ben Bernanke will have to abandon his preference for Hawaiian shirts and Bermuda shorts, it says, while Martin Feldstein looks risky given his outspokenness…
Bank of Japan Minutes, 5 and 6 April
The Bank of Japan's minutes from its 5 and 6 April monetary policy meeting published on 25 May showed that one member, Toshikatsu Fukuma, felt that the bank should cut its reserve target, dissenting from a vote to keep the target unchanged.
South Korea agrees currency deal with Japan, China
South Korea agreed a currency swaps deal with China and Japan on Friday as part of a joint effort to avoid financial turbulence in the region.
PBOC chief: China reforms to remain gradual
Speaking at the conference in Seoul, South Korea, on Friday China's central bank governor, Zhou Xiaochuan, said reforms of the Chinese yuan would remain gradual.
IMF say Islamic banks need to improve transparency
An International Monetary Fund official said in an interview that Islamic banks need to provide more information on how they do business.
World Bank evacuated after fire
An underground electric transformer exploded Thursday 26 May, sparking a fire that forced authorities to close streets and evacuate several buildings - including the World Bank headquarters.
BoJ's Nakahara cautions on lowering target
A Bank of Japan Policy Board member warned on Thursday 26 May against lowering the target for the balance of current accounts at the central bank due only to a fall in commercial banks' demand for funds.
Bernanke says China ready for yuan move
China can and should move toward a more flexible currency quickly to help rebalance world trade, Federal Reserve Governor and White House nominee Ben Bernanke said on Wednesday 25 May.
Fed governor says measured rises could continue
Federal Reserve Governor Edward Gramlich said on Thursday 26 May it was a possibility that the Federal Reserve could continue to raise US interest rates at a measured pace.
East Asia's cb heads meet Friday 27 May
The heads of the central banks of South Korea, China and Japan will meet in Seoul on Friday 27 May to discuss various topics, including foreign exchange markets.
IMF says debt relief plan may be flawed
A top International Monetary Fund official said on Wednesday 25 May that the focus by the world's richest nations on debt relief is misplaced.
BoE's Lambert says markets suggest steady rates
Bank of England Monetary Policy Committee member Richard Lambert said in a newspaper interview published on Wednesday 25 May that market interest rates seem to suggest that interest rates will remain broadly steady.
ECB won't cut rates according to Liikanen
The European Central Bank remains focused on reviving the euro zone economy by continuing to push though growth-focused structural reforms rather than cutting interest rates, Erkki Liikanen, a member of the ECB's governing council said in an interview.
ECB's Padoa-Schioppa says next move up for rates
Although the OECD called for a reduction in euro zone interest rates Tuesday, the ECB sees the next natural step in interest rates to be a hike, ECB board member Tommaso Padoa-Schioppa told the Frankfurter Allgemeine Zeitung in an interview.
PBOC's Zhou says yuan reform 'a slow business'
Exchange rate reform will be a "slow business" according to People's Bank of China governor Zhou Xiaochuan, who was speaking in Beijing Tuesday 24 May.
Malaysia rules out ringgit free-float
Malaysia's central bank ruled out any moves to free-float the ringgit on Wednesday 25 May, warning it could lead to volatility but said it was open to opportunities for a better exchange mechanism.
Bank of Canada keeps interest rates unchanged
The Bank of Canada announced Wednesday 25 May that it is maintaining its target for the overnight rate at 2 1/2 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 2 3/4 per cent.
FOMC Minutes, 3 May
Minutes from the Federal Reserve's 3 May meeting published on Tuesday 24 May showed members saw rising inflation as a bigger threat to the economy than a series of weak economic reports and decided to raise interest rates.
Fiji's Narube warns of slower growth this year
Presenting the Reserve Bank of Fiji's quarterly report for March 2005, RBF governor Savenaca Narube warned that economic growth is expected to be lower this year, while the longer term trend will depend on export success.
Housing plan may not lift prices says BoE's Barker
A plan by the UK government to help up to 100,000 Britons buy their own homes may not push up house prices as the government is committed to increasing supply, Bank of England policymaker Kate Barker said on Tuesday 24 May.
Fed's Moskow promotes personal accounts
Chicago Federal Reserve Bank President Michael Moskow said on Monday he favours the idea of "some kind of personal accounts" as a method of addressing the long-term funding issues facing Social Security.