News
PBOC will increase yuan flexibility
The People's Bank of China said on Thursday 10 August that it would gradually increase the flexibility of the yuan's exchange rate and that market forces would play a fundamental role in determining its value.
Zimbabwe seizes trillions of old notes
State media reported on Wednesday 9 August that Zimbabwe security agents had seized more than Z$10-trillion (about $40m) in old banknotes at the country's main airport in a campaign against money laundering.
Lithuania sets sights on eurozone entry in 2009
The Lithuanian government has said that it will pass a euro adoption plan this Autumn, according to a local press report.
Japan's Abe sees end of deflation in view
Japan's chief government spokesman said Thursday 10 August the end of deflation is "within sight," but did not declare it over in the world's second largest economy.
Communications breakthrough reaps reward for Fed
According to this article from the Financial Times, published Wednesday 9 August, Ben Bernanke will probably be pleased with the muted market reaction that followed the FOMC's latest interest rate decision.
Central bank's ex-chief defends ex-Dominican pres
The Dominican central bank's ex-chief has defended ex-president Hipolito Mejia's actions regarding the payment to several depositors during the liquidation of the collapsed Intercontinental Bank, Dominican Today reported.
Richmond's Lacker first to dissent under Bernanke
This article published Tuesday 8 August by Bloomberg notes that Federal Reserve Bank of Richmond president Jeffrey Lacker disagreed with the Fed's decision to forgo an interest-rate increase.
MAS committed to anti-money laundering efforts
The Monetary Authority of Singapore (MAS) has reiterated the country's commitment to the international efforts to fight against money laundering and terrorism funding, Channel NewsAsia report said Tuesday 8 August.
China to use ex rate for economic structure
The People's Bank of China said in its monetary policy report released Wednesday 9 August that it will use the exchange rate to adjust the nation's economic structure.
T&T's Williams warns on wage rises
Central Bank of Trinidad and Tobago governor Ewart Williams warned Tuesday 8 August that further salary increases would add to inflation pressure.
BOK governor warns of need for further tightening
Bank of Korea governor Lee Seong-tae said in a luncheon speech Tuesday 8 August that Korea should not be fettered by short-term growth figures.
Thailand acting to stem baht increase
Thai central bank governor Pridiyathorn Devakula said Wednesday 9 August the central bank has been acting to halt the baht's rise to prevent excessive strength in the currency from hurting exporters.
Zeti says guidelines for takaful operators soon
The guidelines set for takaful operators in Malaysia will be issued "soon," according to Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz.
How Greenspan gave Stevens a master class
According to this article, published Tuesday 8 August by The Australian, the elevation of Glenn Stevens to governor of the Reserve Bank of Australia barely raised a ripple on Wall Street.
SARB's Guma reappointed deputy governor
South African President Thabo Mbeki has reappointed Xolile Guma to serve as deputy governor of the central bank for another five years, the South African Reserve Bank (SARB) said on Monday 7 August.
Thailand to keep rates steady
The Bank of Thailand will probably keep its benchmark interest rate on hold for the rest of the year after borrowing costs quadrupled since August 2004, the central bank governor told Bloomberg in an interview on Monday 7 August.
Paulson to meet with Chinese officials
US Treasury Secretary Henry Paulson expects to meet Chinese economic officials sometime this fall, a Treasury spokesman said on Monday 7 August.
Bank of Uganda to manage oil revenues
According to this article published by The East African on Monday 7 August, Uganda is finalising the setting up of a Petroleum Fund to manage revenues expected from recently-discovered oil fields in the country.
Slovakia pledges 2009 for euro adoption
In an interview with the Financial Times, Slovakia's finance minister Jan Pociatek said, "It is my personal responsibility to follow the euro commitment," allaying fears that the new leftist government might delay the adoption of the single currency.
Guru with the keys to the kingdom
In a recent interview with The Banker magazine, Dr YV Reddy, governor of the Reserve Bank of India, says he is "not necessarily looking for a dramatic shift" in the "dynamic mix" that currently makes up the banking sector in India.
Central banker has big boots to fill
According to this article, published Saturday 5 August by The Age, the man who will replace Ian Macfarlane at the Reserve Bank of Australia will have a tough time.
ECB's Liebscher says ECB may raise rates higher
European Central Bank council member Klaus Liebscher was quoted on Monday 7 August as saying in an interview that the eurozone central bank is ready to raise interest rates further.
PBOC's Wu says yuan appreciation not certain
The economy faces considerable uncertainty so appreciation of the yuan is not inevitable, the Shanghai Securities News quoted a deputy governor of the People's Bank of China as saying.
Li Yang says China shouldn't follow US
China should not follow in the footsteps of the United States by starting a cycle of interest rate rises, former central bank adviser Li Yang said in an article published on Monday 7 August.