News
Taiwan cb deputy governor meets BoK's Park
Central Bank of China deputy governor Liang Fa-chin attended an international conference in South Korea, but did not discuss foreign exchange issues with Bank of Korea governor Park Seung, Economic Daily News reported, citing central bank governor Perng…
Former BOJ's Taya says current policy should stay
A former Bank of Japan policymaker told a press conference on Thursday 17 March that the central bank should adhere to its current "quantitative" credit-easing policy until Japan's economic recovery is achieved.
BOK to increase efficiency of reserve management
The Bank of Korea (BOK) said it will strengthen its manpower in the foreign currency asset management divisions to more effectively manage increasing foreign exchange reserves.
ECB's E-payments in Europe conference summary
The European Central Bank held a conference on "E-payments without frontiers" on 10 November 2004. A detailed summary of the event was published by the ECB on Tuesday 15 March, together with documentation of the individual presentations by speakers.
GCC central bankers to meet on monetary union
Central bankers in the six-member of Gulf Cooperation Council (GCC) are set to meet in Saudi Arabia this Saturday, 19 March, on monetary union, the Arab News daily reported Wednesday 16 March.
BOJ raises assessment of economy
The Bank of Japan slightly raised its assessment of the economy on Wednesday 16 March, saying in its latest monthly report that industrial production is flat, rather than weak - the first upgrade since last June.
PBOC to maintain managed floating forex mechanism
China will maintain its managed floating rate mechanism for its yuan currency, state television quoted central bank governor Zhou Xiaochuan as saying.
Financial Stability Forum hold 13th meeting, Tokyo
The Financial Stability Forum (FSF) met on 11 March in Tokyo. Members discussed risks and vulnerabilities in the international financial system and reviewed ongoing work to mitigate sources of vulnerability.
China's Wen says progress made on yuan rate
China's Premier Wen Jiabao said on Monday 14 March that the country is working on a plan for a more flexible exchange rate of the renminbi but the specific measures may come at an "unexpected" time.
Japan's Tanigaki says deflation end needed
The Bank of Japan should take "effective measures" to end deflation, Finance Minister Sadakazu Tanigaki said on Tuesday 15 March at a press conference in Tokyo.
China technically ready on yuan move - IMF
International Monetary Fund managing director Rodrigo Rato told a press conference China is "technically" ready to adjust its currency and now is the time to move to a more flexible exchange rate mechanism.
Bundesbank reports profit fall on dollar weakness
The German Bundesbank on Tuesday 15 March reported a net profit of A€676 million (US$904 million) for last year, a figure that came in far short of government budget projections as the weak dollar lowered the value of foreign-currency holdings.
Sweden's central bank holds interest rate steady
Sweden's central bank held steady its key interest rate at 2 per cent on Tuesday 15 March, with continued expectations of a global economic recovery and steady economic activity inside Sweden.
RBI constitutes payment systems Board
The Reserve Bank of India said on Thursday 10 March that it has constituted a Board for Regulation and Supervision of Payment and Settlement Systems (BPSS) as a Committee of its Central Board.
Trichet sees continued relatively moderate growth
European Central Bank president Jean-Claude Trichet told the European Parliament on Monday 14 March that he expects continued moderate eurozone growth this year and next.
Net loss widens for ECB on euro
The European Central Bank published its annual accounts for 2004 on Monday 14 March, saying that its net loss more than tripled last year as the falling dollar lowered the value of the bank's foreign-currency holdings.
Commission says 'not sure' on euro rule reform
The EU's economics and monetary affairs commissioner Joaquin Almunia has said he is "not sure" an agreement can be reached on reforming the rules underpinning the euro- the Stability and Growth Pact.
No sign of Asian central bank dollar shift- Taylor
Concerns that Asian central banks are looking to reduce their dollar-denominated reserves are misplaced, U.S. Treasury Undersecretary for International Affairs John Taylor told Dow Jones in an interview published on Friday 11 March.
Bank of France cuts growth forecast
The Bank of France has lowered its first quarter growth forecast for the French economy by 0.1 points to 0.4%.
Zhou Xiaochuan appointed Chairman of the BIS ACC
The Board of Directors of the Bank for International Settlements announced on Monday 7 March that Zhou Xiaochuan, Governor of The People's Bank of China, will become Chairman of the BIS Asian Consultative Council (ACC).
BIS appoints Gunter Pleines to head Banking Dep't
The Board of Directors of the Bank for International Settlements announced the appointment of Gunter Pleines as Head of its Banking Department on Monday 7 March. His appointment takes effect on 1 April 2005 and is for a five-year term.
Phil Fed's Santomero on post-Greenspan era
In an interview published this week, Anthony Santomero of the Philadelphia Fed told Handelsblatt he does not fear any trouble in the financial markets when Alan Greenspan leaves office at the beginning of 2006. "It is understandable that the markets ask …
China fires PBOC official for gambling
The People's Bank of China has sacked the head of a local branch in northeast China's Jilin province for gambling, China News Service reported, without citing sources.
South Korean finance minister resigns
South Korea's finance minister resigned on Monday 7 March over media allegations about his involvement in lucrative real estate deals.