News
Argentina to pay off IMF debts at start of 2006
Argentine President Nestor Kirchner said on Wednesday 21 December that his country will clear its debt with the International Monetary Fund on 2 January next year, instead of the previously announced next Thursday.
Deloitte awarded contract at Irish central bank
Deloitte and Touche has been awarded a contract to carry out an external audit at the Irish central bank.
Thailand to speed up adoption of e-payment
The Bank of Thailand plans to accelerate the adoption of electronic payment in place of cash and cheque settlement to cut financial costs and ensure efficient and quick services.
Bank of England voted 8-1 to hold rates
Bank of England Monetary Policy Committee members voted 8- 1 to keep interest rates unchanged this month, the first split vote since August, minutes released on Wednesday 21 December showed.
Two BOJ dissenters unite, minutes show
Minutes from the Bank of Japan's November board meeting released on Wednesday 21 December showed two members united in calling for a cut in the target for excess funds in the financial system, consolidating their previously separate proposals into one.
PBOC vows to keep stable yuan
China's central bank has released a report saying it will keep the yuan stable at a 'balanced and reasonable level' but that it also sees increasing flexibility in the exchange rate.
Argentina sells bonds to Venezuela
Argentina sold $496 million in bonds to Venezuela to help boost its international reserves as it prepares to pay back the $9.8 billion it owes the International Monetary Fund.
China statistician calls yuan reforms 'successful'
China's top statistician Li Deshui said on Tuesday 20 December that China's exchange rate reform is "successful", noting that the policy "should not be changed so frequently."
Bank of Portugal offloads 10 tonnes of gold
The Bank of Portugal has said it has sold 10 tonnes of gold from its reserves over the past month.
Trichet says ECB 'fully respects' Fazio's decision
The European Central Bank "fully respects" the decision of Bank of Italy governor Antonio Fazio to resign, its president, Jean-Claude Trichet, said in a statement.
Iran's central bank set to open Kyrgyzstan branch
The chairman of the Kyrgyz National Bank, Ulan Sarbanov, has discussed opening a branch of the Central Bank of Iran in Kyrgyzstan.
BCEAU leaders to meet in Niger
Heads of states from the West African Monetary Union are due to hold an extraordinary meeting on 23 December in Niamey, Niger.
Italy agrees central bank reforms
The Italian government approved reforms for the Bank of Italy on Tuesday 20 December, changing the central bank governor's lifetime post to a fixed term.
Adams says China lacks 'consensus' on yuan
The U.S. Treasury's top official for international issues, Tim Adams, said Monday 19 December that China's reticence at allowing a greater role for the market in determining the value of its currency may rest with political leaders who are yet to take a…
Garganas says ECB will act on rates if needed
The European Central Bank will raise interest rates in the future if December's hike isn't enough to keep inflation subdued, Bank of Greece governor and ECB Governing Council member Nicholas Garganas said Monday 19 December.
ECBs Papademos calls for action on labour reform
Eurozone countries are at risk of inflation accelerating even as unemployment remains 'disappointingly high' because of labour market inflexibility, European Central Bank vice-president Lucas Papademos said.
Bank of Italy's Fazio resigns
Bank of Italy governor Antonio Fazio resigned on Monday 19 December, just days before reforms were set to be put in place to finally force him out. On Friday CentralBankNet reported that rumours Fazio would quit at the weekend were described as "nonsense…
GCC ratifies FX union criteria
GCC leaders have endorsed criteria for a European-style monetary union in the Gulf region and agreed to forge a common policy on negotiating trade agreements.
Keeping meeting secret cost RBA $300,000
The Reserve Bank of Australia spent $304,530 on lawyers to block a Freedom of Information request to release details of the central bank board's deliberations over interest rates.
Richmond Fed promotes officer
The Federal Reserve Bank of Richmond announced on Friday 9 December that Gregory Sierra would become assistant vice president, Banking Supervision and Regulation effective from 1 Jan 2006.
Juncker says Stark may not take ECB economist role
Jean-Claude Juncker has suggested that Jurgen Stark might not inherit Otmar Issing's role as Chief Economist at the ECB if he is appointed to replace Issing.
Bundesbank official is pick for ECB
This article published Wednesday 14 December looks at the chances of Jurgen Stark replacing Otmar Issing at the European Central Bank. The choice of Stark would bring to the bank someone who was intimately involved with the introduction of the euro in…
Interview with ECB's Trichet
In comments published Thursday 15 December, European Central Bank president Jean-Claude Trichet said there is an essential difference between the ECB's Governing Council and well-respected figures, such as Jean-Claude Juncker and Thierry Breton, who have…
Interview with ECB's Bini Smaghi
Speaking recently, Lorenzo Bini Smaghi, member of the Executive Board of the European Central Bank, said that the US Federal Reserve is better than the ECB is "a bit like saying that Alonso is better than Schumacher. It depends on the car. The US economy…