News
Venezuela approves central bank reform law
Venezuelan lawmakers gave initial approval late Tuesday 21 June to a bill that would allow President Hugo Chavez to access up to $5 billion in reserves held by the central bank.
BOT denies spending $3-4bn on intervention
Bank of Thailand governor M.R. Pridiyathorn Devakula has conceded the central bank had intervened in the market to support the baht, but denied it had spent up to US$3-4 billion on intervention.
Discussion topics from Central Banking conference
Central Banking Publications hosted the first conference on Sovereign Asset and Debt Management on June 20-21, where over 20 speakers and 100 participants discussed trends and challenges in how countries manage their national balance sheet.
Bank of England MPC Minutes, 8 & 9 June
The minutes from the 8 and 9 June meeting of the Bank of England's Monetary Policy Committee published on Wednesday 22 June showed policy makers voted 7- 2 to keep interest rates unchanged this month, with Charles Bean and Marian Bell preferring a 0.25%…
ECB's Mersch says rates 'perfectly appropriate'
European Central Bank council member Yves Mersch said current interest rates are correct and that Italian calls to leave the euro would be a recipe for turmoil.
Eurozone hampered by lack of reform, not rates
Bank of France governor Christian Noyer said it is not the level of European Central Bank interest rates which is hampering eurozone growth, but rather it is the lack of structural reform.
Official says pressure on yuan won't bring change
China said it would not bow to political and speculative pressures to adjust the value of its currency, as US officials prepared to testify about the impact of China's fixed exchange rate on the US economy.
Euro dip not caused by EU rejection says Liebscher
The euro hasn't been affected by the crisis facing the European Union following the rejection of its proposed constitution, the governor of Austria's Central Bank said on Tuesday 21 June.
RBA to open emergency back-up office
The Reserve Bank of Australia is to get a $38 million back-up office complex in an outer Sydney suburb in case an emergency shuts its city head office.
IMF's Rato sees no rush on China yuan rate
International Monetary Fund Managing Director Rodrigo Rato said there is no need for China to make its currency convertible in a single step, although a more flexible yuan exchange rate would benefit China and other countries.
Malaysia's Zeti says inflation may nudge higher
Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz was reported as saying on Tuesday that inflation could edge higher before tapering off later this year.
France's Noyer says no bias in ECB stance
Bank of France governor Christian Noyer told a news conference that the European Central Bank has no bias in its monetary policy stance and current ECB rates remain "exactly appropriate".
Tanigaki says Japan, China may discuss yuan
Japan's Finance Minister Sadakazu Tanigaki said that the meeting of finance ministers from Asia and Europe scheduled for this weekend in China could include a discussion of the yuan's peg to the US dollar.
Central bankers meet to discuss growing deficits
On 20-21 June, Central Banking Publications hosted its first conference on Sovereign Asset and Debt Management, which brought together speakers and delegates from central banks, ministries of finance, debt offices and financial institutions.
Bank of Japan Policy Board Minutes
Bank of Japan policy makers Toshikatsu Fukuma and Atsushi Mizuno voted in April and May to cut the target for funds the bank makes available to lenders, according to minutes released on 20 June.
Norges Bank Conference: Banking Crisis Resolution
Norges Bank arranged a conference on Banking Crisis Resolution - Theory and Policy, in Oslo from Thursday 16 June to Friday 17 June. Presentations included "Any role for central bank LLR without taxpayer's money involved?" by Charles Goodhart.
PBOC's Zhou says economy growth at 9 percent
China's economy is still growing at more than 9 per cent annually, the central bank governor said on Saturday18 June, but noted that conditions for bringing down inflation had improved.
Fed's Stern sees US rate rises continuing
Federal Reserve Bank of Minneapolis President Gary Stern sees no reason for the Federal Reserve to stop raising interest rates now as the economy expands at a desirable pace, a Japanese newspaper reported on Monday 20 June.
Villepin says ECB should include for ex concerns
France's Prime Minister Dominique de Villepin said the European Central Bank should incorporate foreign exchange concerns, and factor in the value of the euro on world currency markets, when setting monetary policy for the euro zone.
EMEAP central banks to boost economic security
The governors of central banks from 11 East Asian and Pacific countries agreed to build a regional financial security network and strengthen coordination in a bid to decrease financial vulnerability against external pressure.
Russia likely to float rouble within three years
The Russian central bank and the finance ministry have signalled that the government will allow the rouble to float freely within the next three years, the Interfax news agency reported.
Bank of Guyana appoints new governor
Lawrence Williams has taken up his new appointment as Governor of the Bank of Guyana, indicating that the focus of the BOG would be "on fostering the development of the financial systems".
Richmond Fed announces promotion
The Federal Reserve Bank of Richmond this week named Terry Wright vice president, Check Services effective from 1 July.
Former Bundesbank chief Pohl joins bank board
Ahli United Bank (AUB) in Bahrain announced this week that former Bundesbank president Dr Karl Otto Pohl was to join the bank as board of directors senior adviser.