News
BOJ urged to maintain zero rate policy
Japan's government has urged the central bank to maintain its zero interest rates policy in order not to choke off the country's economic recovery.
Brazil's Meirelles says growth is sustainable
In an address to foreign investors on the first day of the International Conference of American Chambers of Commerce in Latin America, the president of Brazil's central bank, Henrique Meirelles, affirmed that Brazilian growth is sustainable.
Launching of Bloomberg e-bond trading system
With the support of the Central Bank of Sri Lanka and the Primary Dealer community, Wednesday 7 June, Bloomberg officially launched its e-bond trading system in Sri Lanka.
Fed's Poole sees stagflation possibility
If inflation expectations are rising, a slowing economy may not reduce inflation pressures, said St. Louis Federal Reserve President William Poole, quoted in the Wall Street Journal online edition.
Greenspan picks writer to help with memoirs
Alan Greenspan has selected a Fortune Magazine veteran, Peter Petre, to assist him on his memoirs, The New York Times reported.
Final curtain for long running BCCI 'farce'
A full and final settlement was agreed on Wednesday 7 June on costs in the proceedings brought by the Liquidators of BCCI against the Bank of England.
Greenspan sees little impact on growth from oil
Former Federal Reserve Chairman Alan Greenspan told the Senate Foreign Relations Committee in Washington that higher oil prices have had "little consequence" for a "more flexible" U.S. economy and probably haven't caused "serious erosion" worldwide.
Fed's Hoenig says too soon to be behind curve
Kansas president Thomas Hoenig said on Tuesday 6 June that monetary policy acts with a lag and, as a result, it was premature to say the U.S. central bank was "behind the curve" in raising interest rates.
The beginning of the end for inflation targeting
This article by Wolfgang Munchau published Monday 5 June in the Financial Times says that while an inflation targeting strategy has worked well for some central banks - notably the Bank of England - it did not work out as well for others.
Interview with BOJ's financial markets head
In an interview with Reuters published on Monday 5 June, Hiroshi Nakaso, director-general of the Bank of Japan's financial markets department said the BOJ is not targeting a particular level of reserves as it draws down excess liquidity from the banking…
Philadelphia Fed names new president
The Federal Reserve Bank of Philadelphia announced Tuesday 6 June that Charles I. Plosser, a professor of economics, has been named president of the Philadelphia Fed.
BOJ's Muto says no set timetable on rate rise
Bank of Japan deputy governor Toshiro Muto said on Monday 5 June the central bank has no timetable for raising interest rates.
PBOC's Zhou says no monetary tightening plan now
People's Bank of China governor Zhou Xiaochuan has said the PBOC does not plan to start further monetary tightening measures and will instead wait to assess the impact of its previous policy action.
Trichet warns on 'excessive dynamism' in prices
European Central Bank President Jean-Claude Trichet said on Monday 5 June it was important to take into consideration "excessive dynamism" in asset prices because of the potential inflationary effects.
PBOC: China must broaden investment channels
China should consider broadening its investment channels and introduce more investment products to absorb rising liquidity in the banking sector, central bank governor Zhou Xiaochuan said in a Securities Times report.
Costa Rica selects OpenLink's Findur
OpenLink, a leading provider of financial and commodity trading, risk management, and operations processing software solutions, announced Monday 5 June that Costa Rica's central bank, Banco Central de Costa Rica (BCCR), has licensed Findur, the company's…
Hosokawa says imbalances unlikely as G8 topic
Japan's top financial bureaucrat said Monday 5 June that the issue of global economic imbalances is unlikely to be a major discussion topic during the meeting of G8 finance ministers Friday and Saturday.
IMF says Persian Gulf should consider peg
Persian Gulf countries preparing to establish a single currency should consider pegging to the euro as well as the dollar, according to the International Monetary Fund.
IMF approves Lipsky as first deputy MD
The International Monetary Fund's board on Thursday 1 June approved John Lipsky as IMF first deputy managing director, the second-highest position at the Fund.
BoJ's Muto to visit Washington June 4-8 for IMC
Toshiro Muto, deputy governor of the Bank of Japan, will visit Washington D.C. to attend the International Monetary Conference, the central bank said Friday 2 June.
Getting to the bottom of foreign currency reserves
According to this recent article from The Japan Times, the news about sharp increases in foreign reserves held by emerging economies has been big news in Japanese papers.
ECB reshuffle aims for collegiate mood
According to the article "ECB reshuffle aims for collegiate mood and focus on policy" published by the FT on Friday 2 June, the European Central Bank has divided the role of its chief economist in a move that will allow an evolution in ECB thinking and…
Interview with Otmar Issing
In an interview published Thursday 1 June, outgoing ECB chief economist Otmar Issing said his parting message to his ECB colleagues was to get to grips with inflation.
Burhan Goklemez named dep gov in Turkey
Turkey named central bank insider Burhan Goklemez as a deputy governor of the bank on Wednesday 31 May.