News
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.
Rock star Bono could be World Bank president
The latest rumour on the World Bank job has U2 rock star Bono lined up for the role. US Treasury Secretary John Snow described him this week as a kind of "rock star of the development world".
Former central banker named Portugal's fin min
Portugal's Prime Minister-elect Jose Socrates named Luis Campos e Cunha, a former central bank deputy governor to the post of finance minister this week.
Richmond Fed names new Director of Research
John A. Weinberg was named director of research and senior vice president of the Federal Reserve Bank of Richmond on Thursday 10 March.
Philippines' Tetangco on the future of the peso
In an interview published this week, Bangko Sentral ng Pilipinas Deputy Governor Amando Tetangco said looking at the fundamentals and technical signs, the peso is poised for further appreciation. Tetangco was recently named as the replacement for…
Zimbabwe's Gono on unorthodox challenges
In an interview published on Thursday March 10, Reserve Bank of Zimbabwe Governor Dr Gideon Gono said the country is going through a turnaround that demands unorthodox ways of dealing with unorthodox challenges. The job is not one of making friends with…
Election to Danmarks Nationalbank's Board
Denmark's Folketinget (Parliament) has elected Mr Svend Erik Hovmand to the Board of Directors of Danmarks Nationalbank until 31 March 2006.
Bini Smaghi formally proposed to ECB board
Eurozone finance ministers on Tuesday 8 March formally proposed Lorenzo Bini Smaghi, a senior Italian economics official, as the next member of the European Central Bank's executive board.
Issing: ECB will act on money supply if necessary
European Central Bank chief economist Otmar Issing said in an interview that high liquidity in the eurozone has not yet proved a sufficient reason for the ECB to raise interest rates, but it will act if money supply growth starts to fuel inflation.
Report says share of China's dollar reserves fell
Investment bank Lehman Brothers said in a report this week that China reduced the share of its foreign reserves held in US dollar assets last year.