News
Third ECB Central Banking Conference
The Third ECB Central Banking Conference on "The new EU Member States: convergence and stability" will begin on Thursday 21 October in Frankfurt am Main. Discussions include "The economic and structural transformation of the new EU Member States" and …
Trinidad & Tobago central bank selects Finance KIT
Trema, a leading provider of strategic software solutions for the financial industry, announced on Friday 15 October that the Central Bank of Trinidad and Tobago (CBTT) in Port of Spain has selected the Trema solution, Finance KIT, to support its foreign…
Report on the efficiency of the ECB's management
The European Central Bank on Friday 15 October published the report prepared by the European Court of Auditors on the operational efficiency of the management of the ECB for the financial year 2003, together with the ECB's reply to it. The report noted…
US rates 'still simulative' says Fed's Santomero
Philadelphia Federal Reserve President Anthony Santomero said on Saturday 16 October that US interest rates remain simulative but as the expansion continues they should return to "more normal levels".
BOJ's Fukui upbeat on Japanese economy
Bank of Japan Governor Toshihiko Fukui told a quarterly meeting of branch managers on Monday 18 October that Japan's economic recovery is on track as structural reforms continue but record global oil prices require "close attention".
Hungary's Jarai against cb reform proposal
The president of Hungary's central bank (MNB), Zsigmond Jarai, has criticised a proposal to increase the number of members of the MNB's Monetary Council from nine to eleven and to allow the prime minister to choose five of the eleven members and approve…
Ireland's statistics department finally leaves cb
Staff of Ireland's department of Central Statistics office located on the top floor of the Central Bank building started vacating the building this week. The move came as a result of a three-month notice which the central bank sent to the Statistics…
Romania appoints new Board of Directors
The National Bank of Romania has a new Board of Directors, Rompres reported on Tuesday 12 October. The BNR management was agreed by parliament in late September following fierce debate.
Leiderman named favourite to replace Klein
Professor Yitzhak Swary isn't the leading candidate to be the next Bank of Israel Governor, as Professor Leonardo Leiderman, a former senior official at the central bank, has a better chance of being appointed, TheMarker.com financial news service…
McTeer set to leave Dallas Fed
Dallas Federal Reserve President Robert McTeer, the U.S. central bank's resident poet and "lonesome dove" on inflation, is likely to leave if he wins the chancellor's position for the Texas A&M University System.
RBA likely annoyed by political rate talk
In an interview with Dow Jones Newswires on Wednesday 13 October, Professor Stephen Bell, author of a new book "Australia's Money Madarins: The Reserve Bank and the Politics of Money" said the government's argument that interest rates would rise faster…
Eu-row continues
The row over how to spell the "euro" single currency was only partially solved this week when Lithuania (euras) and Slovenia (evro) agreed a compromise on the word but Latvia (eiro) and Hungary (euroo) said they plan to stick to their own spelling.
Nobel prize winner keen to continue his work
Finn Kydland, joint winner of the 2004 Nobel economics prize, was giving a guest lecture at the Norwegian School of Economics and Business Administration (NHH) in Bergen, western Norway when he was told the news he had won the prize.
ECB chief sees uncertainties for eurozone outlook
In an interview on Friday 15 October, European Central Bank president Jean-Claude Trichet said that high oil prices were increasing uncertainties about the economic outlook for the eurozone, although the bank still expects the recovery to continue.
Thai cb chief rejects reform criticism
Bank of Thailand Governor Pridiyathorn Devalkula said on Friday 15 October that under his leadership the central bank had carried out more reforms than other state agencies.
Philippine cb denies bid to cap peso slide
The Philippines central bank said that it is not selling dollars in the currency market to support the peso, currently at a record low of 56.45 to the US dollar.
Pensioners to sue Bank of Canada
Canadian pensioners look set to go to court in a bid to wring up to $42 million out of the Bank of Canada, Canadian Press reported. It is alleged the bank misused their pension trust fund since at least 1993.
Bank of Canada unveils new $50 banknote
The Bank of Canada on Wednesday 13 October unveiled Canada's new $50 banknote, the theme of which is Nation Building: shaping the political, legal, and social structures for democracy and equality.
Riksbank leaves repo rate unchanged at 2 per cent
At its meeting on 13 October, the Executive Board of the Sveriges Riksbank decided to leave the repo rate unchanged at 2 per cent.
BOK expects first loss in decade
Governor of the Bank of Korea Park Seung told parliament on Tuesday 12 October that the central bank predicted it would suffer a loss of about 300 billion won ($261.8 million) this year.
Central banks 'must cede powers for GCC currency'
On Wednesday 13 October, Kuwait urged GCC states to be ready to cede some of the powers of their central banks to a unified institution to ensure the success of a planned common currency for the region.
Russia discusses single currency idea with Ukraine
Russia and Ukraine are ready to discuss currency integration and the introduction of a single currency, Russian Ambassador in Kiev Viktor Chernomyrdin said in opening remarks to a round table meeting "Russia and Ukraine: Prospects of Cooperation in the…
High oil price threaten growth: Belgium's Quaden
Belgian National Bank governor Guy Quaden said in an interview that high oil prices pose a risk to inflation and growth, and the European Central Bank must prevent high fuel costs spilling over into general price rises and causing an "inflation spiral".
Italy's Fazio: planned tax cuts must be financed
In testimony to parliament Bank of Italy Governor Antonio Fazio called on Prime Minister Silvio Berlusconi to guarantee that promised tax cuts can be funded, after government spending outpaced revenue in the first half of the year.