News
Columbia economist linked to Fed board
The Federal Reserve is reported to be considering appointing former Columbia University economist and ex-Federal Reserve Bank of New York senior staff member Frederic Mishkin as vice chairman of the Fed's board.
Kyrgyz Rep's Sarbanov resigns
Ulan Sarbanov has been relieved of his post of chairman of the Kyrgyz National Bank "as of 30 March in line with his letter of resignation". The president recently signed the relevant decree, according to the Kyrgyz AKIpress news agency website.
Fed's Poole: Inflation rise difficult to reverse
William Poole said on Friday 7 April that it would be more difficult for the Federal Reserve to deal with a spike in inflation than a softening of growth.
Interview with ADB's Kuroda
In an interview published on Sunday 9 April, the President of the Asian Development Bank Haruhiko Kuroda said Asian countries, including China, already have ample foreign exchange reserves and there is no need for them to accumulate more.
China's forex reserves bring risks: ADB
A senior official at the Asian Development Bank said on Saturday 8 April that China could be accumulating too much foreign exchange reserves and should manage the associated risks carefully.
Tanigaki says Japan hasn't escaped deflation yet
Japanese Finance Minister Sadakazu Tanigaki said Saturday 8 April that the world's second-biggest economy has yet to beat deflation fully.
Full rupee float 'not earlier than 2009'
India's Finance Minister Palaniappan Chidambaram does not expect the rupee to become fully convertible before 2009, he said in an interview with Singapore's Straits Times published on Friday 7 April.
Brazil central bank directors resign
Brazil's central bank said in a statement on Thursday 6 April that Alexandre Schwartsman, the head of its international relations department, and Sergio Darcy, chief of its norms department, had asked to step down.
Turkish governor name sent to president
Turkish State Minister and Chief Negotiator for EU talks Ali Babacan said on Friday 7 April that the government's decision on the appointment of a new central bank governor will be sent to President Ahmet Necdet Sezer today.
New BOK deputy governor appointed
South Korea's president Roh Moo-hyun on Thursday 6 April appointed Lee Sung-il, CEO and president of the Seoul Money Brokerage Services, deputy governor of the Bank of Korea (BOK).
ECOFIN's Grasser says Slovenia may join euro in 07
Austrian Finance Minister Karl-Heinz Grasser, whose country holds the rotating EU presidency, said Slovenia has a good chance of joining the euro on 1 January 2007.
Basel Committee seeks comments
The Basel Committee on Banking Supervision on Thursday 6 April issued for public comment updated versions of the 1997 Basel Core Principles for Effective Banking Supervision and the 1999 Core Principles Methodology.
Yuan compromise?
According to this article by Lawrence Lindsey, published on Thursday 6 April, President Bush and Chinese President Hu Jintao will have a lot to talk about at their meeting in Washington later this month. The central economic question will be the proper…
Trichet leaves ECB's monetary moves in doubt
According to this article published on Friday 7 April, a burst of candor from European Central Bank President Jean-Claude Trichet has left analysts reassessing the timetable for future ECB monetary policy moves. That reassessment may not have gone far…
'Dissolving' Fed secrecy
According to this article published on Wednesday 5 April, in 2000, when Wall Street's bubble burst, Federal Reserve Chairman Alan Greenspan and other Fed officials revealed in their meetings plenty of concern about just where things might be headed.
Gulf states buy euros with their reserves
According to this article published on Wednesday 5 April, a diversification of Middle East reserves could have a negative impact on Washington's ability to finance its debt.
Ex-BoJ's Taya sees one rate rise by year-end
The Bank of Japan is expected to raise interest rates once by the end of the year and twice in 2007, a former board member said on Thursday 6 April.
Dispute over Bundesbank board plans - report
A dispute has arisen between the German government and the governments of the individual German states over plans to reduce the management board of Deutsche Bundesbank, the German central bank, Die Welt reported.
Trichet says markets misread ECB rate stance
European Central Bank president Jean-Claude Trichet said Thursday 6 April that eurozone governments need to use the current economic upturn to cut their budget deficits faster.
Korea to get 3 new BOK board members
With new Bank of Korea Governor Lee Seong-tae showing himself to be somewhat more hawkish than his predecessor, this article published Thursday 6 April says that the focus has now shifted to three other appointments to be announced to the policy-making…
Will India free the rupee?
According to this article published Tuesday 4 April, full convertibility of the rupee should give companies more access to foreign debt markets, cut delays in foreign exchange trades, and enhance foreign investor access to India's banks and debt market.
Should GCC states diversify reserves?
According to the article 'Should GCC states diversify reserves away from the US dollar?' published Tuesday 4 April, the discussion among GCC central banks about diversifying away from the US dollar comes at a time when the greenback has already devalued…
Central banks differ on RBI / MAS pact
The Reserve Bank of India and the Monetary Authority of Singapore have differences on many issues relating to the India-Singapore Comprehensive Economic Co-operation Agreement, the Business Standard newspaper reported Wednesday 5 April.
PBOC official says China not pursuing reserve rise
China is not deliberately pursuing expansion of its foreign exchange reserves or any particular level of reserves, a vice head of the central bank said in comments published on Wednesday 5 April.