News
EU's Almunia confident on stability pact deal soon
The European Union commissioner for economic and monetary affairs, Joaquin Almunia, said on Wednesday 2 March that he was confident agreement would be reached "soon" on the Stability and Growth Pact.
Museum of Australian currency notes
The Reserve Bank of Australia has opened from 1 March a Museum of Australian Currency Notes on the ground floor of its Head Office in Sydney.
Bank of Canada keeps interest rate unchanged
The Bank of Canada announced on Tuesday 1 Marchthat it is maintaining its target for the overnight rate at 2 1/2 per cent. The Bank said the outlook for the Canadian economy and inflation remained essentially unchanged since January.
China to let foreign agencies sell yuan bonds
China will allow global agencies such as the World Bank to sell yuan-denominated bonds for the first time, the People's Bank of China said in a statement on its website.
NBP's Rybinski denies rates will be slashed
A senior official from the National Bank of Poland warned markets on Monday 28 February that expectations of a sharp falls in interest rates this year were misguided.
Fed's Moskow sees job market policy challenge
Chicago Fed president Michael Moskow said on Tuesday 1 March that the US economy still has excess labour and production capacity and that oil price rises have yet to spill into underlying inflation.
Bundesbank Int'l central banking seminars 2005
The Deutsche Bundesbank has announced the programme for its international central banking seminars 2005. The seminars began in January and run throughout the year.
Chicago Fed National Activity Index, Jan 2005
The Chicago Fed National Activity Index for January 2005 was +0.21, down from +0.59 in December. However, all four broad categories of indicators that comprise the index made positive contributions to the January CFNAI.
Costello warns RBA on rate increase
Australia's Treasurer Peter Costello has put pressure on the Reserve Bank of Australia not to raise interest rates when it meets on Tuesday 1 March, saying an increase would go against the RBA's remit.
India's foreign exchange reserves cross $130bn
India's foreign exchange reserves climbed to $132.96 billion in the week ended Feb 18 on large-scale overseas fund inflows into the domestic market, the Reserve Bank of India said on Saturday 26 February.
Southern Africa targets 2016 for monetary union
Countries within the 13-member Southern African Development Community (SADC) have decided to achieve monetary and economic union by 2016, South African Reserve Bank governor Tito Mboweni said on Monday 28 February.
China sets route to currency reform
China will gradually open its capital account in 2005, another step in its plan to make the yuan currency fully convertible, state television quoted the country's foreign exchange chief as saying on Saturday.
Interview with RBI's deputy governor Udeshi
In a recent interview deputy governor Kishori Udeshi of the Reserve Bank of India said that India's banks are beginning to move towards international banking practices by working to implement Basel II guidelines.
Rosen takes over at CEA
The White House announced on Wednesday 23 February that Harvey Rosen, a member of the White House Council of Economic Advisers, will take over as CEA chairman from the departing Greg Mankiw.
A head for the World Bank
The process of choosing a new leader for the World Bank is devoid of much transparency, something the bank likes to preach, according to this article. With leaders traditionally being American, and chosen in secrecy by the American president, the…
Hungary's new Monetary Council members appointed
Hungary's President Ferenc Madl has appointed the new members of the Monetary Council. Judit Nemenyi, Tamas Banfi, Peter Bihari and Csaba Csaky will become members of the council from 1 March.
French finance minister resigns over apartment
Herve Gaymard, the French finance minister, resigned on Friday 25 February following revelations about his state-funded luxury apartment.
Report says China peg impact overstated
Research published by the Federal Reserve Bank of Cleveland on Thursday 24 February said that China's exchange rate peg to the dollar has had less of an impact on its trade surplus with the United States than many observers have assumed.
Most G7 favour IMF gold sales idea - report
A majority of Group of Seven members favour selling some of the International Monetary Fund's gold reserves to finance debt relief, a German newspaper on Friday 25 February reported G7 sources as saying.
Central Bank of Iraq aims for monetary stability
According to AZZAMAN newspaper, the Central Bank of Iraq has announced that it intends to fight inflation and achieve monetary stability in Iraq following a noticeable increase in prices over the past few months.
Measured rate rises working- Fed's Bernanke
Federal Reserve Governor Ben Bernanke said on Thursday 25 February that with US inflation controlled the Fed can continue with its policy of gradual interest rate increases.
Paraguay to implement electronic payment system
Paraguay's central bank (BCP) plans to implement an electronic payment system costing US$5mn in order to facilitate the flow of documents with other public bodies, local newspaper La Nacion reported.
Qatar set to host 2nd Islamic financial summit
The Islamic Financial Services Board (IFSB) is to hold its second summit in Doha, Qatar on 24-25 May 2005, with the Central Bank of Qatar as the host, the summit secretariat said.
CGFS announces 4th central bank conference
It was announced on Wednesday 23 February that the European Central Bank in co-operation with the Bank of Japan and the Board of Governors of the Federal Reserve System, will host the fourth in a series of joint central bank research conferences on risk…