News
Meirelles: Brazil interest rates will keep falling
Bank of Brazil president Henrique Meirelles said Friday, according to AE Brazil, that low inflation could mean interest rates will continue to fall from the current 19%. Speaking ahead of a sovereign debt conference at the Dallas Federal Reserve Bank,…
Zeti sees Malaysia keeping ringgit peg
Speaking at the closing session of Morgan Stanley's Asia Pacific summit, the chief of Malaysia's Bank Negara, Zeti Akhtar Aziz, said rising asset prices and consumer debt are not a problem in Malaysia. He also said Malaysia won't review its ringgit peg,…
Australia's RBA upbeat on economy
The Reserve Bank of Australia said in its monetary policy statement 10 November "The economic situation has evolved rapidly over months, both in Australia and abroad." The report paved the way for further interest rate increases, AFP said, as housing…
China's yuan not raised at G10 meeting-Thai c bank
The governor of the Bank of Thailand Pridiyathorn Devakula told reporters on Monday the issue of China's exchange rate policy was not raised at the G10 meeting of central bankers in Bangkok.
Trichet says G10 expect global economic recovery
ECB president Jean-Claude Trichet said on 10 November following the Bangkok meeting of G10 central bankers that each central bank was "making and doing what was necessary in its own environment" to keep interest rates at appropriate levels. Trichet said…
Ministry of Finance, BOK to exchange key personnel
Korea's Ministry of Finance and the Bank of Korea plan to exchange officials between the two organisations to build greater cooperation between themselves. The plan would allow for a greater exchange of know-how on critical economic issues, which the…
World Bank hails currency conversion in Uzbekistan
David Pearce, resident representative of the World Bank in Uzbekistan, told a press conference in Tashkent that the World Bank welcomed national currency conversion in Uzbekistan. Interfax said. However, the World Bank is not satisfied with the results…
ECB press conference with questions and answers
At his first press conference since taking over from Wim Duisenberg, Jean-Claude Trichet said on 6 November that the stability and growth pact provided "an appropriate framework" for ensuring fiscal discipline. He said the budget deficit limit of 3 per…
Trichet warns EU over budget deficits
Jean-Claude Trichet issued a stern warning on 6 November to both eurozone governments and the EU Commission in Brussels that meddling with the rules of the Stability and Growth Pact would put the overall credibility of monetary union and economic…
Fed chief Greenspan hints end near for low rates
Fed Chairman Alan Greenspan suggested on 6 November that the end may be in sight for very low interest rates. Greenspan gave an optimistic assessment of the US economy's prospects for strong growth and appeared to depart from the FOMC's commitment to…
Interest rates can stay low says Fed governor
Federal Reserve governor Ben Bernanke said on 6 November there was "considerable scope" for US interest rates to remain at the current low rates without risking inflation. Bernanke told a conference sponsored by Carnegie Mellon University that he…
Chile c bank hints at further interest rate drop
Chile's central bank said Thursday it did not rule out further cuts to its historically low interest rates in an effort to further encourage the economic recovery. Despite low interest rates, inflation has remained under control and even fallen more than…
Crisis at Bangladesh Bank may be resolved
The recent problems at Bangladesh Bank may be resolved soon after reports that central leaders of the ruling Bangladesh National Party (BNP) are in favour of withdrawing the action taken against the BB officers and employees. The New Nation reported the…
KPMG selected as National Bank of Bulgaria auditor
KPMG was chosen on 7 November to audit the National Bank of Bulgaria's accounts a report said. Other candidates for the job were Ernst & Young and Deloitte & Touche, Novinite reported.
RBNZ's Bollard speaks on ANZ acquisition
The Reserve Bank of New Zealand released an excerpt from a speech by Reserve Bank Governor Alan Bollard on 6 November. It outlines the policy initiatives taken by the Reserve Bank in dealing with the application by the ANZ to buy National Bank. The…
Statement by RBA's MacFarlane on rate increase
In a statement following the Reserve Bank of Australia's decision to increase interest rates to 5 per cent on 5 November, RBA governor Ian MacFarlane said "the Board's view is that it is no longer prudent to continue with such an expansionary policy…
Bank of England raises interest rates by 0.25%
The Bank of England raised interest rates by 0.25 percentage points to 3.75% on 6 November saying the global economic recovery appears to be gathering momentum but with inflationary pressures likely to build a "modest" increase was required.
Bank Negara hosts BIS meeting on monetary policy
Bank Negara Malaysia will host the sixth meeting of the Bank for International Settlements monetary policy working party beginning 5 November, the Edge Daily reported. Bank Negara said the meeting was being chaired by BIS economic adviser William White,…
Trichet rings in new era at ECB with rates on hold
The ECB left its main refinancing rate steady at 2 percent at its 6 November meeting with Jean-Claude Trichet attending his first meeting as president of the euro-zone central bank, AFP reported.
Fed's Pianalto says US jobs lag unusual
Speaking Wednesday 5 November Federal Reserve Bank of Cleveland president Sandra Pianalto said normally it would be expected to take only around two years for the US to recover the number of jobs lost in recession, Reuters reported.
ECB: No forced redundancies with IT restructuring
The ECB has responded to claims by the Union of the Staff of the European Central Bank that 40 or more staff could be made redundant by restructuring measures in the IT department. The Bank said in a statement, AFX reported, "If some functions are…
Sacked union leaders return to BB premises
Union leaders returned to Bangladesh Bank for the first time in a week on Wednesday 5 November. Witnesses said the ruling BNP-backed former CBA leaders stayed at the CBA office at the main building of the bank for 15 minutes at midday, the Daily Star…
Restructuring of the ECB's IT function
The European Central Bank has provided further datails on the restructuring of its information technology function, 5 November 2003.
Gono accepts appointment as RBZ Governor
Gideon Gono has been appointed governor of the Reserve Bank of Zimbabwe with effect from 1 December, The Harare Herald reported. Gono, a prominent banker, was appointed by President Mugabe and follows last weeks announcement of a planned restructure and…