News
Central bankers upbeat on world economy
The global economy is growing at a dynamic pace and may even accelerate in 2006, central bankers from major countries said on Monday 9 January.
IMF's Rato calls for 'market value' yuan
International Monetary Fund Managing Director Rodrigo Rato on Sunday 8 January said China should take full advantage of its decision last year to introduce more flexibility to its currency regime.
Caruana to leave Basel Committee in July
Jaime Caruana said on Monday 9 January he will step down as chairman of the Basel Committee on Banking Supervision when he leaves his post as governor of the Bank of Spain in July this year.
Jean-Pierre Roth to chair BIS Board
The Board of Directors of the Bank for International Settlements (BIS) on Monday 9 January elected as its new Chairman Jean-Pierre Roth, Chairman of the Governing Board of the Swiss National Bank.
Argentina to buy euros to restock reserves
Argentina's central bank will begin buying euros in the foreign exchange market to help bolster its foreign reserves, which were sharply reduced to pay back the country's debt with the IMF, a central bank official said on Sunday 8 January.
Soros expects global economy slow down in 2007
International financier George Soros said in Singapore Monday 9 January that he expects a global recession in 2007 if the U.S. housing market continues to cool after the Fed halts it rate hike campaign.
Gold rises on central bank buying rumours
The gold price had been lent further momentum by investors anticipating central banks would deliver on comments they would buy gold, Bloomberg News reported.
Atlanta Fed names vice president
John Robertson was named vice president at the Federal Reserve Bank of Atlanta on Tuesday 3 January.
IMF's Rato to visit Brazil on January 10-11
Rodrigo de Rato, Managing Director of the International Monetary Fund, will visit Brazil on January 10-11, 2006, at the invitation of the President Luis Inacio Lula da Silva to mark the nation's early repayment of its outstanding obligations to the Fund.
Euro 'War of the words' continues
Latvia has poured oil on the fire in the standoff over the Eurozone common currency spelling (EURO) and supported Malta for sticking to its principles in wanting to use the spelling which is correct according to its national language.
First woman takes over as SBP chief
The first woman ever to be appointed as the governor of the State Bank of Pakistan (SBP) took up her position on Monday 2 January.
Interview with ECB president Jean-Claude Trichet
In recent comments European Central Bank president Jean-Claude Trichet said that monetary policy "cannot resolve all problems by itself". "We need profound structural reforms to increase our growth potential", Trichet warned.
Bernanke may have to grow up fast
Alan Greenspan's first major test came a mere 10 weeks into his tenure as chairman of the Federal Reserve, with the stock market crash of 1987. This article published on Wednesday 4 January looks at the challenges that could face Ben Bernanke when he…
Argentina's Kirchner replaces Lavagna
Argentine President Nestor Kirchner yesterday replaced Economy Minister Roberto Lavagna on Monday 2 January following disagreements between the two with regard to inflation.
Interview with Hans Tietmeyer
Former Bundesbank president Hans Tietmeyer said in comments published Friday 6 January, that it's too early to pass final judgment on the legacy passed down by Alan Greenspan. "He is an impressive personality. He is open to debate. You can use all…
Bundesbank rejects report of 1,500 job cuts
The German government is planning to cut about 1,500 jobs at the Bundesbank by the end of 2007, Der Spiegel magazine reported, quoting a letter Barbara Hendricks, secretary of state to the finance ministry, sent to Volker Wissing, a member of the lower…
BOJ official sees steady progress on deflation
Japan is making steady progress in its fight against deflation as consumer prices appear set to keep rising amid a balanced economic recovery, a senior Bank of Japan official said Friday 6 January.
Korea using all means to weaken currency
South Korea's finance ministry said on Friday 6 January it would mobilise all possible means to curb the won's recent sharp appreciation against the US dollar.
Taiwan says FX turnover no intervention indicator
The Central Bank of Taiwan has urged speculators to stop second-guessing central bank policy actions on the Taiwan dollar on the basis of the forex market's daily turnover.
OECD report says Swiss economy to underperform
The Swiss economy is poised to grow slower than expected this year because of lusterless productivity gains, meaning the Swiss central bank should not raise interest rates until a recovery has been established, the OECD said in a report published Friday…
Constancio says no specific ECB rate rises planned
The European Central Bank has no specific plans for future monetary policy changes, ECB Governing Council member Vitor Constancio of Portugal said on Wednesday 4 January.
Spain sees risk to economy of house price fall
The risk of a sharp fall in house prices is increasing and could put a brake on Spain's robust economic growth, the Bank of Spain's governor said in a report published on the bank's website.
ECB misses inflation target
The European Central Bank failed to hit its inflation target for the sixth year running last year, according to figures from Eurostat.
Study shows Fed deflation tools can work
The Federal Reserve has several ways to boost the economy even if official U.S. interest rates were ever to hit zero, but the public needs to understand them to make them effective, a new Fed study shows.