News
Change in the remit of the Bank of England's MPC
In a letter from Gordon Brown to Eddie George, governor of the Bank of England, the chancellor sets out his intention to change the MPC's remit in the next Pre-Budget Report to give the Bank of England a symmetric inflation target as measured by the…
Joint note from the BCBS, IAIS and IOSCO
The Joint Forum Risk Management Practices and Regulatory Capital Cross-Sectoral Comparison, June 2003. The joint note provides a record of the initiatives taken by each sector to combat money laundering and the financing of terrorism.
New Second Permanent Secretary at the Treasury
Professor Nicholas Stern will take over from Sir Robert Culpin in September as the new Second Permanent Secretary at the UK Treasury. Nick Stern has been Chief Economist and Senior Vice President at the World Bank, Washington D.C. since July 2000.
Bulgaria ruling party ready for c bank compromise
Bulgaria's ruling party floor leader Plamen Panayotov told journalists in parliament on Thursday 12 June that the party was ready for a compromise on whom to nominate as the next central bank governor, according to bnn.
Fed can push harder against deflation- Fed's Poole
St. Louis Fed President William Poole told Reuters in an interview that the Federal Reserve "can push harder" if necessary to prevent a deflationary spiral from happening.
ECB's Welteke says global growth conditions good
Ernst Welteke said on Friday 13 June thatmacroeconomic conditions are favourable to growth all over the world but enterprises must have confidence to sell their goods, according to a report by Reuters.
ECB criticised by eurozone national central banks
The European Central bank faces criticism for trying to push through proposals without sufficient consultation, according to a Handelsblatt report. The report said proposals presented to the ECB's 18-member governing council increasingly contain details…
ECB's Tumpel-Gugerell sees no deflation risk
The ECB's newest council member Gertrude Tumpel-Gugerell has said she sees neither symptoms of deflation nor the risk of deflation, reports Frankfurther Allgemeine Zeitung.
SARB reduces interest rates by 1.5%
The South African reserve bank cut interest rates on Thursday 12 June for the first time in 21 months to 12 per cent, according to a report by Business africa. Governor Tito Mboweni said the central bank would remain alert to inflation risks though.
Venezuela's exchange control system may be relaxed
Restrictions on Venezuela's foreign exchange market may be lifted by the country's foreign exchange regulatory body, CADIVI, in the near future. The president of CADIVI said studies of proposals for relaxation were almost complete, according to a report…
Speculation RBI's Jalan will leave c bank early
Reserve Bank of India governor Bimal Jalan's may depart from the RBI before the end of his tenure, Rediff.com reports. Speculation surrounds his possible successor, with former deputy governor Y Venugopal Reddy mentioned as a possible candidate.
KJ Udeshi named RBI's first woman deputy governor
The Reserve Bank of India has appointed Ms KJ Udeshi as a deputy governor. She becomes the first woman to hold the post of deputy governor and replaces GP Muniappan who retired on May 31.
Polish fin min demands Bank reserves later resigns
Poland's finance minister Grzegorz Kolodko on Wednesday called for an additional 5bn zlotys from the revaluation reserve of the central bank to go to the 2004 budget, a move the central bank governor firmly rejected. However, Kolodko later resigned after…
Serb leaders question c b's Dinkic's performance
A report on Radio B92, Belgrade says Serbian National Bank governor no longer enjoys political support. The report accuses Dinkic of using his position for the interests of his party, and claims that his party, G17 Plus, has been discouraging foreign…
Afghanistan urges Pakistan to help stop fake notes
The governor of Afghanistan's central bank has called on Pakistan's authorities to halt the production of counterfeit Afghan banknotes being printed in the frontier areas of that country, according to a report from the Voice of the Islamic Republic of…
Kenya c bank plans Moi-portrait notes phasing out
The central bank of Kenya plans to introduce new banknotes bearing the portrait of founding President Jomo Kenyatta, according to a report on the daily Nation website.
CBK board given power to implement laws
The recently implemented Islamic Banks Law will give power to the central bank of Kuwait's Board of Directors to implement necessary laws and regulations with the aim of providing an atmosphere of healthy competition in the field of Islamic banking, the…
Estonian central bank looks forward to euro
The president of the Bank of Estonia, Vahur Kraft, has set 2006 as the time "horizon" for Estonia in terms of joining the euro, according to a report by Estonian Radio.
Duisenberg biography dredges up 'dim' past
A new biography of European Central Bank president Wim Duisenberg by two Dutch journalists reveals the central banker's unhappiness at the IMF in the 1960s, courtesy of a small and badly-lit room, according to the Financial Times.
Irish central bank seeks firm to mint euro coins
Strong demand and hoarding of coins has prompted the central bank of Ireland to seek a foreign firm to mint 100 million euro coins, the Irish Times reports. In December, the bank financed an advertising campaign to persuade people to stop hoarding small…
Bank of Japan Monetary Policy Meeting, 11 June
The Bank of Japan announced unchanged guidelines at the end of its two day meeting on 11 June.
Japan's central bank to buy securities
The Bank of Japan has decided to buy asset-backed securities, according to a Reuters report. Before this it had restricted its purchases to government bonds, which carry less risk than securities. The bank said the scheme could start as early as next…
Germany's inflation falls to 0.7 percent
Inflation in Germany fell to 0.7 percent in May, the lowest rate in over 3 years, according to Associated Press. The figures released on Wednesday June 11 showed the rate fell by 0.3 percent from 1 percent in April.
Chikaura set to take over as RBZ governor
The acting governor of the Reserve Bank of Zimbabwe (RBZ), Charles Chikaura, may take over as a permanent replacement to Leonard Tsumba who resigned last week amid the country's bank note crisis. The Daily News reported that candidates from the private…