News
Poland rejects criticism of new regulator
Criticism from the European Union that Poland's new financial regulator might fall victim to political meddling has been rejected, a Finance Ministry spokeswoman said on Wednesday 25 October.
RBNZ holds rates unchanged, Sweden hikes
The Reserve Bank of New Zealand left its official cash rate unchanged at 7.25 pct on Thursday 26 October reflecting slowing economic growth. Swedish interest rates were raised in a widely expected move.
Kenya launches automated trading systems of NSE
President Mwai Kibaki of Kenya has said the automation of the trading system will create more confidence in the country's capital markets and enable the government and the private sector to access long-term financial resources.
France's Breton hopes for ECB rate pause
French finance minister Thierry Breton said in an interview published Wednesday 25 October he hopes for a halt to interest rate hikes by the European Central Bank next year.
Ex-PBoC advisor calls for more yuan flexibility
Yu Yongding, a former People's Bank of China adviser said in a speech to investors at a Credit Suisse investment conference on Wednesday 25 October China should introduce more flexibility in the yuan exchange rate to help reduce imbalances in the economy.
Buba's Weber warns inflation fall is temporary
Bundesbank President Axel Weber said the current decline in inflation rate is temporary and does not necessarily signal a long-term easing of inflationary risks, according to an interview with Tagesspiegel newspaper published Wednesday 25 October.
McCreevy warns over curbing NBP's powers
Charlie McCreevy, the European Union internal market commissioner, has warned the Polish government in a letter quoted by the Finanical Times on Wednesday 25 October that recent moves to curb the powers of the central bank may "put at risk the stability…
Fiscal indiscipline eroding Swaziland's reserves
A recent report suggests that fiscal indiscipline by the government has eroded Swaziland's foreign reserves in the past years.
Poland's Samoobrona wants presence in NBP
Poland's Self-Defence (Samoobrona) party will propose its candidate for the post of deputy head of National Bank of Poland and is likely to be the Under Secretary of State in the Labour and Social Policy Ministry, Polish News Bulletin reported Monday 23…
IMF's Rato proposes Murilo Portugal as deputy
Rodrigo de Rato, managing director of the International Monetary Fund proposed the appointment of Murilo Portugal to the position of deputy managing director on Monday 23 October.
Oman launches Clearing House solution
The Central Bank of Oman's Automated Clearing House Solution (ACH) has been completed, HP Middle East announced.
Turkey's Yilmaz on necessity of stable prices
"Nothing is possible without price stability. If price stability is settled, economic growth and employment will be assured," Central Bank of Turkey president Durmus Yilmaz told reporters after a meeting he attended in Ankara Chamber of Industry (ASO) on…
BOK chief sees 2007 growth below 5 percent
Bank of Korea (BOK) governor Lee Seong-tae said Monday 23 October the country's economic growth will fall short of 5 percent next year due to the slowing global economy and sluggish domestic demand.
China plots next steps in key financial reforms
China mapped out its next steps in crucial financial reforms on Tuesday 24 October, saying that it would look to make the yuan more flexible and free up interest rates.
NBS chooses Wall Street Systems package
The National Bank of Slovakia (NBS) has selected Wall Street Systems, a provider of global treasury and capital markets solutions and services, to manage its banking functions, it was announced Monday 23 October.
Gono: Zimbabwe losing inflation battle
Reserve Bank of Zimbabwe governor Gideon Gono said in an interview published Monday 23 October there were several factors that were outside the central bank's control, which made it difficult to control inflation.
Barbados' Williams notes cost of poor governance
Central Bank of Barbados governor Dr Marion Williams has said Barbados ought to guard against excessively complex corporate governance regulations, and ensure that these regulations are functional.
ECB's Wellink says rates still 'very low'
European Central Bank council member Nout Wellink said in an interview published Monday 23 October interest rates in the euro region are ``very low'' and the speed of economic growth could risk fueling inflation.
PBOC's Su says China to seek more yuan flexibility
The People's Bank of China (PBoC) will continue to seek greater flexibility in the country's foreign exchange regime and seek to increase domestic hedging mechanisms against forex risk, central bank vice governor Su Ning told a conference in Suzhou on…
Iceland's central bank appoints Internal Auditor
Stefan Svavarsson has been appointed Internal Auditor of the Central Bank of Iceland, effective from 1 November, the central bank said on Monday 23 October.
Nobel winner Phelps sees Fed transparency risk
Edmund Phelps, awarded the Nobel Prize for economics last week, told Bloomberg in an interview published Wednesday 18 October that Federal Reserve policy makers must make sure that they are no so open with the public that their ability to make decisions…
Study urges improved Fed communications policy
A new study commissioned by Macroeconomic Advisers, headed by former Fed governor Larry Meyer, reveals most leading US financial market participants do not want the US central bank to adopt an inflation objective, a mild form of an inflation target.
NBH to change framework of issuing press releases
The National Bank of Hungary (NBH) announced on Thursday 19 October that it is changing its practice of issuing press releases on the Monetary Council's regular rate-setting meetings.
UAE delays cheque clearing system for tests
The Central Bank of the United Arab Emirates has said at least 90 per cent of UAE banks are ready to implement the new system of cheque clearing that is expected to go live early next year.