News
ECB statement on Stability and Growth Pact
The European Central Bank's Governing Council released a statement on Monday 21 March on the ECOFIN Council's report on Improving the implementation of the Stability and Growth Pact.
Zhou says nearly time for interest rate reform
Time is nearly right for market-oriented interest rate reforms and China's banks should learn to set their own interest rates, Xinhua news agency quoted People's Bank of China governor Zhou Xiaochuan as saying.
ECB's Noyer says euro not pressuring markets
Christian Noyer, governor of the Bank of France and member of the ECB's governing council, said at an international conference on Monday 21 March that the euro is not exerting any pressure on global financial markets in spite of its growing influence and…
Stiglitz warns on World Bank violence
Joseph Stiglitz, the former chief economist of the World Bank, has launched an attack on US plans to appoint Paul Wolfowitz as the World Bank's new president. He suggested the appointment could lead to violent protests.
Venezuela's Chavez calls for law on reserves
Venezuelan President Hugo Chavez has called for new legislation to limit the amount of foreign reserves that can be held by the central bank.
ECB 'seriously concerned' over stability pact
The European Central Bank expressed serious concern on Monday about proposed reforms to the European Union Stability and Growth Pact that were announced over the weekend.
Interview with ECB's Trichet
In an interview published on Wednesday 16 March, European Central Bank president Jean-Claude Trichet said the bank continues to see moderate economic growth in the eurozone during 2005, despite recent signs of "greater dynamism" in investments and…
Interview with Bundesbank's Weber
Speaking in an interview on Wednesday 16 March, Bundesbank president Axel Weber said with higher incomes resulting from an increase in 2006 German employment, there should be better consumption and thus a recovery in the domestic economy.
Elections to the Board of Directors, Denmark
The five-year terms of three of the 25 members of the Board of Directors expire on 31 March 2005. At a meeting on 15 March the Board of Directors re-elected Helle Bechgaard, Director, Niels Fog, Merchant, and Kirsten Stallknecht, Former President of the…
New head of statistics at Danmarks Nationalbank
As of 1 August, Jens Dalsgaard, Deputy Head of Statistics, will take over the position as Head of Statistics at Danmarks Nationalbank.
Sleepy Hollow's central bank
This article published on Monday 14 March looks at the situation surrounding the appointment of Stanley Fischer as governor of the Bank of Israel. There is contradictory information in Jerusalem on when exactly Fischer will arrive in Israel, it says, and…
Democracy in inaction at the World Bank
This article by Joseph Stiglitz asks why the search for James Wolfensohn's successor at the World Bank should be limited to an American loyal to a particular political party? According to the Nobel laureate, the entire process of choosing its leaders is…
Greenspan shields Fed's political independence
During Alan Greenspan's 17 1/2 years as Fed chairman, he has toiled endlessly - and largely successfully - to shield the US central bank from assaults on its independence, whether from Congress or the White House, this article says.
Implementation of Basel II in New Zealand
The Reserve Bank of New Zealand announced on Friday 18 March that it will allow both the "Internal Ratings Based" and "Advanced Measurement" Approaches in the implementation of the Basel II capital framework in New Zealand.
Wolfowitz nominated to head World Bank
George W. Bush nominated one of the administration's top hawks, Paul Wolfowitz, as the next President of the World Bank this week, in a move that drew criticism from various quarters.
PBOC says Guo Shuqing still bank vice governor
The People's Bank of China has said Guo Shuqing is still a vice governor at the central bank, following his recent appointment as the Communist Party secretary of China Construction Bank.
Fischer will become Bank of Israel governor 1 May
The government is due to approve Prof. Stanley Fischer's appointment as the eighth governor of the Bank of Israel on Monday 21 March, local press reports said.
ECB opinion on new Executive Board member
At a meeting on Friday 18 March, the Governing Council of the ECB adopted an opinion on a recommendation from the Council of the European Union on the appointment of a new member of the Executive Board of the ECB.
Stability pact showdown expected
A showdown may be in the offing regarding the EU's stability and growth pact. The EU summit in Brussels next week is expected to discuss reform of the 25-nation bloc's fiscal rules.
Bank of Korea not to alter dollar reserves- report
The Bank of Korea does not intend to alter the proportion of its foreign exchange reserves denominated in US dollars, although it will seek to maximise profit from its forex holdings by investing in a broader range of assets, the Wall Street Journal…
Ukraine to move to more flexible peg
Ukrainian Economy Minister Serhiy Teryokhin said the country plans to replace the hryvna's peg to the dollar with a more flexible exchange rate system that includes the euro.
ECB says Lithuanian mint on track for euros
Lithuania's mint meets the basic requirements for coining euros, the central bank said Thursday, citing the conclusions of a team of European Central Bank officials who visited the mint this week.
IDB meeting to focus on trade and investment
The April 10-12 meeting of the Inter-American Development Bank, to be chaired by Japanese Finance Minister Sadakazu Tanigaki, will bring together finance ministers and central bank governors from its 46 member countries, officials said at a news…
OECD report says dollar fall not unexpected
Global growth is only expected to slow moderately this year despite volatility in oil prices, the OECD said on Thursday 17 March in its semi-annual Financial Market Trends report.