News
Weber says ECB concerned on oil price effect
Bundesbank president Axel Weber has said the European Central Bank is concerned about the possible secondary inflationary effects of the higher oil price.
PBOC denies interest rate rumour
The People's Bank of China (PBOC), the central bank, denied media reports on Monday that its research bureau had sent a report proposing an interest rate rise to the State Council, China's cabinet.
Bank of Japan to be restructured
The Bank of Japan faces major restructuring in July, the Yomiuri Shimbun reported Tuesday, with reforms to personnel policies and salaries intended to increase efficiency.
Bomb explodes near Iraq central bank
A mortar round exploded near Iraq's central bank on Sunday, injuring 10 people in the capital according to reports.
Greenspan takes oath for fifth term
Alan Greenspan Saturday evening took the oath of office as Chairman of the Board of Governors of the Federal Reserve System for a fifth four-year term commencing on June 20, 2004.
ECB's Issing says ECB mandate won't change
Moves by certain eurozone governments to alter the European Central Bank's mandate so that the bank focuses more on growth and less on inflation are doomed to fail, says the ECB's chief economist Otmar Issing in a newspaper interview published Monday.
Bundesbank optimistic for German industry
The Bundesbank said in its June monthly report published 21 June that it is expecting the recovery in the German industrial sector to continue this year.
Hungary leaves interest rates steady
The National Bank of Hungary left interest rates unchanged Monday and issued a warning about inflationary pressures in the economy.
Richmond Fed names Jeffrey Lacker President
Jeffrey M. Lacker was appointed on 17 June the new President of the Federal Reserve Bank of Richmond, effective August 1, 2004. He succeeds J. Alfred Broaddus, Jr., who announced his intention to retire back in November.
Senate vote confirms Greenspan
The U.S. Senate has voted to confirm Alan Greenspan for a fifth and final term as chairman of the Federal Reserve, clearing him to serve at the Fed into 2006.
MPC dove Nickell joins Welsh think-tank
Professor Stephen Nickell, a member of the Bank of England's Monetary Policy Committee has been appointed to a Welsh economic think-tank.
Report says Welteke rejects fine as too high
Ernst Welteke, who resigned as president of Germany's Bundesbank after accepting hospitality, won't pay 50,000 euros ($60,000) to end an inquiry by the Frankfurt public prosecutor, Welt am Sonntag reported.
Woman may join Germany's 'Five Wise Men'
For the first time a woman looks set to be appointed to the German government's so-called "Five Wise Men" panel of independent economic advisors, an economy ministry spokesman said.
Eurozone inflation rises to 2.5% in May
The European Union (EU) said that inflation in the euro zone grew to an annual rate of 2.5 percent in May from 2 percent in April, due mostly to rising costs of fuel and oil products across Europe.
Swiss National Bank raises interest rates
The Swiss National Bank on Thursday announced it was raising its key interest rate by a quarter percentage point after holding near zero for more than a year.
BOJ's Muto says closely watching long term rates
The Bank of Japan is closely watching rising long-term interest rates to see if they affect the world's second-largest economy, Toshiro Muto, one of the bank's two deputy governors, said in a speech.
No Russian banking crisis says Ignatyev
Chairman of the Russian Central Bank, Sergei Ignatyev, told a press conference on Friday 18 June, that the situation with ruble liquidity on the Russian inter-bank loan market is stabilising and that a banking crisis in Russia is highly unlikely.
Former Bank of Korea governor Chon Chol Hwan dies
Chon Chol Hwan, former Bank of Korea governor, has died after an illness, aged 65, Bloomberg reported, citing South Korean central bank's press office.
Report says Buba used public money to build villas
For decades the Bundesbank used public money to build luxury villas for some of its top officials, German business daily Handelsblatt reported.
Olson says Fed must stay alert on inflation
The U.S. economy is growing at a rate at which policymakers must pay attention to the possibility of inflation, Federal Reserve Governor Mark Olson said on Monday.
Fed's Moskow urges vigilance on inflation
Chicago Fed President Michael Moskow said in an opinion piece in Tuesday's Wall Street Journal the Federal Reserve must continue to be vigilant in monitoring inflationary pressures.
Rapid rate rise not good for economy - Tanigaki
Japan's Finance Minister Sadakazu Tanigaki said a rapid rise in long-term interest rates may harm Japan's economic recovery, Jiji Press reported.
Minn.Fed's Stern oil hikes may not bring inflation
Gary Stern, the president of the Federal Reserve Bank of Minneapolis, said on Sunday that rising energy prices do not necessarily signal inflation, which he called "a monetary phenomenon."
Japan economy on recovery road, says Takenaka
Japan's Economic and Financial Services Minister Heizo Takenaka said on Sunday 13 June that the rise in JGB yields reflected an expectation of further economic recovery. Separately Masakazu Hayashi told a news conference the government wanted the Bank of…