News
Kudrin says Russia should keep $100bn reserves
Russia should maintain at least U.S. $100 billion in foreign exchange and gold reserves, Finance Minister Alexei Kudrin told the State Duma, the lower house of the Russian parliament, Monday 4 April.
China to reform forex regime, not just level
China's central bank will focus this year on how to establish a workable exchange rate mechanism instead of simply fixing the exchange rate at a certain level, the official China Securities Journal reported, citing a senior PBOC official.
Greenspan says Basel II would strengthen US banks
Federal Reserve Chairman Alan Greenspan said that implementing the new Basel II global banking rules would make U.S. banks stronger and safer, and were unlikely to harm their competitiveness.
6th Islamic Financial Services meeting starts
The 6th meeting of the Islamic Financial Services Board (IFSB) began in Tehran Tuesday 5 April under the chairmanship of the governor of the Iranian central bank Ibrahim Shibani.
Statement by IMF's Rato on death of the Pope
Rodrigo de Rato, Managing Director of the International Monetary Fund (IMF), issued a statement on Sunday 3 April on the death of Pope John Paul II.
IMF hosts farewell lunch for James Wolfensohn
The Executive Board of the International Monetary Fund (IMF) hosted a luncheon on 29 March to bid farewell to James D. Wolfensohn, who steps down on 31 May after serving two terms as President of the World Bank.
Bundesbank opposed to IMF gold sale
The Bundesbank said Monday 4 April it firmly opposed the idea that the International Monetary Fund sell some of its gold reserves.
Chicago's Moskow says inflation well contained
U.S. inflation is still "well contained" according to Chicago Federal Reserve President Michael Moskow despite anecdotal evidence of increased pricing pressures, said on Friday 1 April.
Bush nominates Bernanke as Economic Adviser
US President Bush will nominate Federal Reserve Governor Ben Bernanke to be chairman of the Council of Economic Advisers, the White House said Friday 1 April.
Fed's Kohn, Santomero debate inflation targeting
The Federal Reserve remains split over setting an explicit inflation target for the U.S., leaving it an open question for the next chairman of the Federal Reserve to resolve, Fed policy makers told a weekend conference at Princeton University on Saturday…
IMF names Saleh Nsouli director of Europe office
Anne Krueger, Acting Managing Director of the International Monetary Fund (IMF), named Saleh Nsouli as Director of the IMF's Offices in Europe on Monday.
Interview with World Bank's, Wolfowitz
In an interview published this week, before Paul Wolfowitz was confirmed as World Bank President, he says he believes deeply in the mission of the bank. Reducing poverty and promoting economic development are important things we need to do to leave our…
Interview with Central Bank of Cuba's Soberon
Cuba's central bank president Francisco Soberon said in an interview published this week that he was optimistic about recent moves to strengthen both the Cuban peso and the convertible Cuban peso. He also said the Cuban economy registered its first…
De-nationalizing the ECB's executive board
The European Central Bank's chief economist, Otmar Issing, is not scheduled to retire until May 2006. The only certainty about his successor at the moment is that he or she will be a German, according to this article. Current practice is blatantly unfair…
Richmond Fed launches redesigned website
The Richmond Fed has redesigned its website. The revisions to the site incorporate a fresh and updated look, the bank said, while improving the site's usability and better integrating information.
Interview with ECB's Papademos
In an interview published this week, European Central Bank vice-president Lucas Papademos said the weakening of the EU stability and growth pact's rules on cutting deficits would increase the chances of an ECB interest rate hike if it led to a weakening…
Iran's Khatami reappoints central bank governor
President Mohammad Khatami, in a decree issued on Monday 28 March, reconfirmed Ebrahim Sheybani as the governor of the Central Bank of Iran, Iranian news agency IRNA reported this week.
Bundesbank rejects claims of missed staff targets
The Bundesbank, Germany's central bank, has refuted newspaper reports this week stating that it will miss its planned staff reduction targets by a significant amount.
Woman takes charge of China's State forex office
China has appointed a woman as the new director of the State Administration of Foreign Exchange (SAFE). Hu Xiaolian was formerly an assistant governor of the People's Bank of China.
Sweden's Executive Board to visit Jamtland
The Executive Board of the Sveriges Riksbank will visit Jamtland county on 7-8 April. The Board said it would hold a meeting in stersund and make some study visits in the region. The meeting is one of several held outside Stockholm in recent years.
HKMA announces pay review 2005
The Hong Kong Monetary Authority (HKMA) announced on Friday 1 April the result of the annual pay review for staff of the HKMA in 2005. As a result of the pay review, the Fixed Pay of most HKMA staff will continue to be frozen in 2005.
Minutes from the Sveriges Riksbank Meeting, 14 Mar
The Sveriges Riksbank published the minutes from its 14 March Executive Board meeting on 1 April. The minutes showed members expected inflation to be lower than the target level of 2 per cent for a large part of the coming two-year period.
World Bank confirms Wolfowitz as President
The directors of the World Bank confirmed the appointment of Paul Wolfowitz as its President on Thursday 31 March, but agreed on the need for a more open and transparent process for selecting future bank presidents.
BOJ's Takenaka says economic outlook unchanged
The Japanese government said its view of the economy remains unaltered following the publication of the Bank of Japan's Tankan survey which showed confidence among large manufacturers unexpectedly fell for a second quarter.