News
Interest rates to stay 'relatively low' says Zhou
People's Bank of China Governor Zhou Xiaochuan said in an interview the country will keep interest rates "relatively low" to help boost consumer spending and eliminate a trade surplus that has led to tensions with Europe and the US.
Snow says energy prices hurting US economy
Record high oil prices are beginning to take their toll on the U.S. economy, but not enough to halt or reverse the recovery, U.S. Treasury Secretary John Snow said on Tuesday 28 June.
Papademos says rate correct despite oil price high
European Central Bank Vice President Lucas Papademos said eurozone interest rates are "appropriate," even as the price of oil reaches record levels.
Southern Africa could have common central bank
The Common Monetary Area, Southern Africa's 30-year-old monetary union, could have its own central bank within five years, the governor of the Central Bank of Swaziland, Martin Dlamini, told CentralBankNet.
BIS amends Statutes to streamline governance
An Extraordinary General Meeting of the Bank for International Settlements (BIS) on Monday 27 June decided to revise the BIS Statutes.
Malaysia to maintain low rates despite oil price
Bank Negara Malaysia may keep interest rates low, even though global oil prices continue to remain high, national news agency Bernama reported, quoting the central bank's governor Zeti Akhtar Aziz.
BOJ's Haru says monetary policy may change
Bank of Japan policy board member Hidehiko Haru said in a speech the central bank may see the possibility of ending its quantitative monetary policy easing in the year to March 2007.
Gonzalez Paramo says ECB rates right for now
Current eurozone interest rates are 'adequate' and 'appropriate,' European Central Bank board member Jose Manuel Gonzalez Paramo told La Gaceta de los Negocios in an interview.
ECB's Mersch sees no reason to alter rates
Current European Central Bank interest rates are appropriate, ECB Governing Council member Yves Mersch said in an interview published on Monday 27 June.
Nobel winner says China growth may be understated
Nobel Prize laureate Robert Fogel said he is optimistic about China's sustained economic growth, predicting at least 8% growth for the next 35 years.
Philadelphia Fed head receives Italian civic honor
The Consul General of Italy recently presented the prestigious Italian recognition of "Cavaliere," an honorary knighthood, to Anthony Santomero, president of the Federal Reserve Bank of Philadelphia.
Peru's economy minister is IADB candidate
Peru has nominated Economy Minister Pedro Pablo Kuczynski as its candidate to head the Inter-American Development Bank once current head Enrique Iglesias leaves the post in September.
Magistrate says T&T central bank filing 'archaic'
Chief Magistrate Sherman McNicolls said this week he was "really alarmed" by the record filing system at the Central Bank of Trinidad and Tobago, the Trinidad and Tobago Express reported.
Interview with Bank of France's Noyer
In an interview published this week Bank of France governor and European Central Bank council member Christian Noyer said it was "crazy" to think that an interest rate cut in isolation can boost euro zone growth.
Bernanke sworn in as White House adviser
Ben Bernanke was sworn in as chairman of President George W. Bush's Council of Economic Advisers on Tuesday 21 June, leaving his post as a Federal Reserve member.
Danmarks Nationalbank appoints new governor
Nils Bernstein, a senior government official, was named the new governor of Denmark's central bank on Wednesday 22 June.
IMF's Dawson announces plans to leave Fund
Thomas Dawson, the director of the International Monetary Fund's External Relations Department, told a press briefing on Thursday 23 June that he intends to leave the Fund in the next six or eight months.
RBI's Reddy says trade gap manageable
Reserve Bank of India governor YV Reddy said on Thursday 23 June that the widening trade deficit is sustainable because it is underpinned by buoyant export of services and remittances from overseas migrant workers.
Import prices no longer falling says BoE's Lambert
Bank of England MPC member Richard Lambert said on Thursday 23 June that there are signs that import prices, which have helped to keep inflation down, are falling.
ECB member says central banks won't sway ECB
ECB Executive Board member Jose Manuel Gonzalez-Paramo said late on Thursday 23 June that although rate cuts are back on the agenda at major central banks, it would not influence the European Central Bank's monetary policy.
ECB policy not enough to spur growth says Garganas
Bank of Greece governor Nicholas Garganas said on Friday 24 June that European Central Bank monetary policy has performed well but is not enough to spark growth.
Muto says BOJ will maintain target range
Bank of Japan deputy governor Toshiro Muto said Thursday 23 June the central bank will maintain the current account balance target in a range of 30 trillion to 35 trillion yen.
Regulators probe King speech leak
UK City regulators are investigating a sharp rise in futures trading a few hours ahead of Bank of England governor Mervyn King's speech to Bradford business leaders last week.
Top China economist calls for yuan appreciation
The Chinese government should actively move on its yuan exchange rate adjustment and appreciate the value of the currency by 5-10%, the Beijing Morning Post reported, citing Zhang Shuguang of the Chinese Academy of Social Science.