News
Iran-Hong Kong cbs explore mutual ties
Officials from the Hong Kong Monetary Authority and Iran's central bank explored ways of mutual cooperation on Friday 28 January.
Markets focus too much on dollar says Weber
The financial markets are putting too much focus on the declining dollar, Bundesbank President Axel Weber said Friday 28 January.
Boca Raton statement likely to be kept at G7
US Treasury Undersecretary John Taylor said on Friday 28 January the Group of Seven is likely to keep the same statement on foreign exchange at its meeting next week as it did in Boca Raton, Florida last year.
Norges Bank's foreign exchange purchases
Norges Bank said on Monday 31 January that it will not purchase foreign exchange for the Government Petroleum Fund in February.
South Africa's upgraded banknotes issued Tuesday
The South African Reserve Bank (SARB) will issue the first upgraded banknotes on 1 February. The upgraded banknotes have several improved security features, which will make it easier for the public to distinguish between good banknotes and counterfeit…
ECB's Weber says dollar risk to global outlook
European Central Bank Governing Council member Axel Weber said on Saturday 29 January that the US current account gap is unlikely to narrow this year, putting stress on the US dollar which is risky for the global economy.
Greenspan lost credibility says Soros
Speaking at the World Economic Forum in Davos, George Soros the billionaire investor said Federal Reserve Chairman Alan Greenspan has lost credibility for driving US interest rates to a four-decade low and promoting tax cuts.
China official says not ready to revalue currency
China is not ready to revalue its currency and needs time to find a new foreign exchange regime, state media reported Monday, citing comments by government officials.
Turkey to introduce inflation targeting early 06
Turkey's central bank will shift to a formal policy of inflation targeting from early 2006, its governor Sureyya Serdengecti told a conference.
Bulgaria's central bank sees forex reserves rise
Bulgaria's central bank (BNB) currency reserves as of last Friday increased to the equivalent of leva (BGN) 13.704 billion from BGN12. 759 a week earlier, the bank said.
BIS Red Book on payment systems in Sri Lanka
The Central Bank of Sri Lanka (CBSL) announced on Tuesday that the Bank for International Settlements (BIS) has published the Red Book, 'Payment Systems in Sri Lanka' prepared jointly by the Central Bank of Sri Lanka and the Committee on Payment and…
RBNZ leaves interest rates unchanged
The Reserve Bank of New Zealand left interest rates unchanged at 6.50 per cent on Thursday. RBNZ governor Alan Bollard said the tightening in monetary policy over the past year currently looks sufficient to keep medium term inflation pressures in check.
Chicago Fed National Activity Index, Dec 2004
The Chicago Fed National Activity Index (CFNAI) for December 2004 was +0.39, up markedly from +0.05 in November. Three of the four broad categories of indicators that comprise the index made positive contributions in December, while the employment…
Statement on implementation of Basel II framework
The federal banking and thrift agencies released an interagency statement on implementation of the Basel II framework and the qualification process for the framework's "advanced approaches" on Thursday 27 January.
Report says Fed to consider inflation target
Federal Reserve policy-makers will next week discuss whether to set a numerical objective for inflation and, if so, what it should be, the Wall Street Journal reported on Thursday 27 January.
PBOC's Zhou says China open to yuan discussion
People's Bank of China governor Zhou Xiaochuan was reported as saying that China is open to discussing the yuan exchange rate at the upcoming G7 finance ministers meeting but will not be pressured on any appreciation.
Latvia ready to link to euro, official says
A Finance Ministry official was quoted as saying that Latvia is ready to link its currency to the euro in a two-year test period prior to adopting the single currency.
Brazil's COPOM ready to raise rates if necessary
Brazil's central bank is ready to raise interest rates and will accelerate increases if necessary to control inflation, according to the minutes of its COPOM meeting held last week released on Thursday 27 January.
ECB's Issing says recovery still on track
Economic recovery in the euro zone remains on track, with the pace of growth set to accelerate later this year, European Central Bank chief economist Otmar Issing said in a speech on Wednesday 26 January.
Bank of England MPC Minutes, 12 &13 January
The minutes from the 12 & 13 January meeting of the Bank of England's Monetary Policy Committee published on Wednesday 26 January showed the nine members voted unanimously to hold rates at 4.75 per cent.
Wellink says Asia can't maintain dollar buying
Asian central banks cannot continue buying up US dollars forever and the US will have to take action to cut its budget deficit, European Central Bank governing council member Nout Wellink said on Wednesday 26 January.
Fed's Hoenig says economic outlook bright for US
Kansas City Federal Reserve President Thomas Hoenig said on Tuesday 25 January that the outlook for the US economy is pretty bright and inflation should not be a major issue this year.
EU's Almunia says strong euro not posing problems
EU economic and monetary affairs commissioner Joaquin Almunia told a breakfast briefing held by the European Policy Centre think tank that the strength of the euro is not posing problems for Eurozone countries.
Eurosystem reserves up 0.9 bln eur to 155.8 bln
The European Central Bank said on Tuesday 25 January that net foreign currency reserves in the euro system rose 0.9 bln eur to 155.8 bln in the week ending 21 January.