News
Talks over Bulgaria's central bank head drawn out
After a second round of talks on Friday the decision on the election of a new governor of the Bulgarian national bank will resume next week. Novinite reported one of the two nominees for governor - Ivan Iskrov, gained a lead ahead of current governor…
Shyamala Gopinath appointed RBI executive director
Shyamala Gopinath has been appointed as an executive director of the Reserve Bank of India with responsibility for the departments of banking operations, supervision and financial institutions.
RBA's credit card court case draws to a close
The Reserve Bank of Australia's (RBA) six-week long Federal Court case with Visa and MasterCard over credit card reforms closed on Friday 27 June. Justice Brian Tamberlin said he hoped to deliver his judgement in two months.
ECB won't follow Fed on rates - Duisenberg
Speaking on German TV, Wim Duisenberg said euro zone interest rates were currently appropriate, Reuters reports, and that the ECB would not follow the lead of the US Federal Reserve by cutting interest rates soon.
Trichet to appear before Euro Parliament in Sept
Jean-Claude Trichet will appear before the European Parliament's Economic and Monetary Affairs Committee on 11 September, according to the EU Observer. He will then face all MEPs at the full plenary session later in the month.
Fed should focus on systemic risk from banks-Stern
Minneapolis Fed President Gary Stern said in an article on regulatory reform this week that "Risk is not evenly distributed across banks", according to a report from Reuters, and that the largest banks, or those focused on payments system processing,…
Minutes show some on FOMC wanted rate cut in May
Minutes from the Fed's May 6 policy meeting, reported by the Washington Post, showed that members would not wait indefinitely for the clouds to clear before lowering rates again in response to falling inflation rates and sluggish economic growth. The…
Federal Reserve cuts federal funds rate to 1%
Statement from the Federal Reserve released 25 June on the decision to lower the federal funds rate by 25 basis points to 1 percent.
First 'Bollard' signed bank notes issued by RBNZ
The Reserve Bank of New Zealand announced on Thursday 26 June that two million $5 notes with Governor Alan Bollard's signature have been printed.
'Money in Motion' from the Philadelphia Fed
"Money in Motion" is a new financial and historical exhibition that is free, fun, and interactive. The exhibit's 16 displays feature interactive games, rare artifacts, and historical narrative that trace the history of money and central banking in the U…
BoJ's purchases of asset-backed securities
the Bank of Japan has decided to establish Principal Terms and Conditions for the outright purchases of asset-backed securities, 25 June.
Koehler : IMF to seek new accord with Argentina
IMF chief Horst Koehler has said the Fund will start negotiations over a new aid accord with Argentina. Speaking to reporters in Buenos Aires he said the agreement would seek to restore Argentina's financial institutions, according to a Bloomberg report.
Reddy, Kelkar in race for RBI top job
The Economic Times reports that a two-horse race is developing for the top job at the Reserve Bank of India if current governor Bimal Jalan moves into politics.
Hungary's band shift was mistake says Gabor Oblath
Gabor Oblath, a nominee for membership on the Monetary Council of the central bank of Hungary, told a parliamentary hearing that the recent devaluation of the midpoint of the forint's trading band was a "grave mistake", according to Interfax.
Bank of Ghana to commence downsizing soon
The Bank of Ghana is aiming for "a lean, more focused and responsive central bank" and said that the planned disengagement of staff would be done in "a humane manner", Ghana Web reports. "The Bank is offering a generous and attractive early retirement…
Polish c bank head calls for EU to speed reform
The head of Poland's national bank on Wednesday 25 june urged the EU to pressurize Poland and other states to speed up economic reform, according to the Financial Times. He urged Poland, Hungary and the Czech Republic to cut their high fiscal deficits.
BoC wants reformed securities regulation
In a report published Wednesday the Bank of Canada called for reform of its securities regulator warning on the inefficiencies of a system broken up among about a dozen regional regulators.
Bank chief warns on Croatia's growing foreign debt
The governor of the Croatian national bank warned that the country's growing foreign debt was weakening the financial system, according to the HINA news agency. Speaking before parliament on Thursday 26 June, he said the external debt had reached 17.4bn…
Fed cuts funds rate to lowest level since 1958
The Federal Reserve's 13th rate cut on Wednesday 25 Junecould be the last in a cycle that began in January 2001, analysts said, according to Associated Press. However, the Fed signalled its intention to avoid the threat of deflation, suggesting rates…
Frank Lowy re-appointed to RBA Board
Australian Treasurer Peter Costello announced Wednesday the re-appointment of Mr Frank Lowy AC to the Board of the Reserve Bank of Australia. His term will end in December 2005.
RBNZ's New Zealand CPI Inflation Calculator
The Reserve Bank of New Zealand has created a way by which you can easily work out what something which, for example, your grandparents bought for 2 pounds back in 1935 would cost today. It's "The New Zealand CPI Inflation Calculator". A quick check…
Bank of Japan Monetary Policy Meeting
At its monetary policy meeting held on 25 June the Bank of Japan unanimously decided to maintain current guidelines.
BofE's George shrugs off fears of deflation
In an appearance before the Treasury select committee on Tuesday outgoing governor of the Bank of England Edward George said there was an "extremely" low risk of deflation in the UK and the US, acording to the Independent newspaper. He described the risk…
Namibian study says customs union hurts economy
A study carried out by the central bank of Namibia shows that the country's loss was approximately 549m Namibian dollars over a period of 12 years as a result of the Southern African Customs Union (SACU) Common Revenue Pool, according to a report by the…