News
RBI's Reddy says tsunami will impact on deficit
Speaking on Thursday 6 January, Reserve Bank of India Governor YV Reddy said that while the recent tsunami would only have a limited economic impact, it would put some upward pressure on the fiscal deficit.
Belgium's Reynders urges ECB to be more responsive
Speaking at the end of a press conference, Belgian finance minister Didier Reynders called on the European Central Bank to react more quickly to changes in the economic situation.
BOK pledges to maintain price stability
The Bank of Korea said on Wednesday 5 January that it will focus on making sure the country does not exceed its inflation target this year, while promoting coodination between monetary, fiscal, foreign exchange and regulatory policies.
FOMC Minutes, 14 December
Minutes from the Federal Reserve's 14 December FOMC meeting released on 4 January said that with the economic expansion more firmly entrenched, cost and price pressures were likely to become a clearer, intermediate-term risk to sustained good economic…
Bank of England MPC Minutes, 8&9 December
The minutes from the 8 & 9 December meeting of the Monetary Policy Committee of the Bank of England showed that members voted unanimously to leave the benchmark interest rate unchanged, with some policy makers raising the possibility of a rate cut.
Bank of Spain sees GDP continuing trend
The Bank of Spain said in its monthly economic bulletin that the GDP growth trend seen in the third quarter is expected to continue into the fourth quarter.
Greenspan, Clinton fuelled '90s boom
Federal Reserve Chairman Alan Greenspan can take only partial credit for the longest economic expansion on record in the 1990s, Morgan Stanley's chief economist Stephen Roach wrote in Foreign Policy, a magazine published by the Carnegie Endowment for…
China's monetary policy may not tighten-PBOC
China's recent pledge to conduct a prudent monetary policy does not necessarily mean the bank will continue its credit tightening measures, the China Securities Journal reported, citing a People's Bank of China official.
BOK expected to report losses
South Korea's central bank is expected to have recorded more than 100 billion won (US$96.4 million) in losses last year following interest payments for debts sold to control liquidity ballooned, officials at the Bank of Korea said Tuesday.
Audit scolds Bank of Canada
Internal auditors have criticised the Bank of Canada for slack financial practices, according to a report by the Canadian Press.
Chicago Fed National Activity Index, Nov 2004
The Chicago Fed National Activity Index (CFNAI) for November 2004 was +0.12, down markedly from +0.49 in October. Three of the four broad categories of indicators that comprise the index made small positive contributions, while the employment-related…
PBOC pledges to work on yuan reform
The People's Bank of China said on Tuesday 4 January that it plans to move forward with currency reform in 2005, but repeated its long-time pledge to keep the yuan stable.
Weak dollar cuts Bundesbank profits
The appreciation of the euro against the dollar may have reduced the German central bank's 2004 profit down to nothing, Handelsblatt newspaper reported.
G8 plan Asia debt relief
The world's richest nations are likely to agree to freeze debt repayments for nations devastated by the Indian Ocean tsunami, according to Britain's treasury chief Gordon Brown.
Guynn to vote as an alternate on FOMC
The U.S. Federal Reserve has said Federal Reserve Bank of Atlanta President Jack Guynn will vote as an alternate on the Open Market Committee in 2005.
Chavez calls for BCV president's resignation
Venezuelan president Hugo Chavez called on Diego Castellanos, president of the country's central bank, to step down from his post as the row over the distribution of the central bank's reserves continues.
Hungary passes amendments to central bank law
Hungary's president has signed into force a controversial set of amendments to the law governing the country's central bank, which gives the prime minister the ability to appoint a majority of the bank's monetary board.
Slovakia leaves rate unchanged
The Slovakian central bank maintained interest rates on Tuesday 21 December, as was widely expected by markets.
BoE Inflation attitudes survey
The Bank of England's latest inflation attitudes survey reveals expectatsions hovering about 2.4% (compared to 2.3% in the August survey).
Fund: Pakistan on course, but inflation a worry
The IMF has released details of its recent article IV surveillance of Pakistan.
FRC issues new regulation strategy
The Financial Reporting Council, the UK's unified, independent regulator for corporate reporting and governance, announced its intention to become more pro-active in its enforcement of accounting standards, in a strategy plan issued on Tuesday 21…
Bundesbank holds back on gold sales
The Bundesbank announced on Monday 20 December that it would not be exercising an option to sell 120 tonnes of its gold reserves. This followed earlier speculation that it was under pressure from the German government, who wanted to use gold sales to…
Zimbabwe closes seventh troubled bank
Zimbabwe's central bank shut commercial bank CFX over the weekend, bringing the total number of closures in 2004 to seven, as problems in the country's financial system continue.
ECB starts publishing administrative decisions
The ECB published details of operational decisions taken by the governing council for the first time on 17 December, in a move towards greater transparency.