News
Payment Innovation Conference, Amsterdam 4-5 April
The key theme is 'Payment Innovation Beyond SEPA'. SEPA is the acronym for 'Single European Payment Area', a political effort to harmonize all payment systems within Europe.
IMF's Rajan urges caution on further ECB rate hike
IMF chief economist Raghuram Rajan has called on the European Central Bank to wait for evidence that an economic recovery is taking hold in the euro zone before raising interest rates again.
Mersch says ECB ready to act when necessary
The European Central Bank has not determined what or when its next move will be, but would act if it felt the need to raise rates again, ECB Governing Council member Yves Mersch told a German newspaper.
India following 'passive policy' on gold
Reserve Bank of India governor, Yaga Venugopal Reddy, said on Tuesday 6 December that the federal government and the Reserve Bank of India (RBI) have been following a "passive policy" on its gold holdings.
Jarai says Fitch downgrade will raise rates
Hungary's central bank governor Zsigmond Jarai said on Wednesday that Hungary's downgrading by ratings agency Fitch on Tuesday6 December would increase risk premiums but would not affect the economy in the short term.
Ireland's Hurley supports ECB rate rise
Ireland's central bank governor John Hurley has defended the ECB's quarter point rate hike last week, saying it will dampen the threat of inflation across the eurozone.
BOJ's Haru says reserve target may be cut
Bank of Japan policy board member Hidehiko Haru said the BOJ may have to lower its reserve target range before it concludes its ultra-easy monetary policy, if it becomes difficult to keep to the present range, which is set very high.
Fukui says govt understands BOJ's stance
Bank of Japan Governor Toshihiko Fukui said on Wednesday 7 December he thinks Prime Minister Junichiro Koizumi understands the BOJ's deflation-fighting policy stance.
Treasury management system for Bulgaria
The Bulgarian National Bank is gearing up for entry to the European Union (promised for 2008 or 2009 at the latest) by ensuring it will meet the 1 January 2007 deadline for compliance with the revised Eurosystem standards for treasury management…
Bank of Canada raises interest rates
The Bank of Canada announced on Tuesday 6 December that it is raising its target for the overnight rate by one-quarter of one percentage point to 3 1/4 per cent. In a press release the bank suggested rates would rise further saying, "some further…
ECB and NCBs release joint statistics
On Tuesday the European Central Bank (ECB) and the national central banks (NCBs) of the euro area for the first time released joint tables of euro area statistics and their national breakdowns on their websites.
BNB implements new treasury management system
The Bulgarian National Bank has strengthened its accession strategy through the implementation of The Trema Suite as its new treasury management system covering Front-, Middle- and Back Office for their reserve management operations.
Fukui says Japan ready for monetary policy shift
Bank of Japan Governor Toshihiko Fukui told his Group of Seven counterparts that the central bank will move away from its monetary policy stance eventually, once the condition of sustainable rising consumer prices is met, Kyodo News Agency reported.
Turkey to begin inflation targeting
Turkey plans to adopt formal inflation targeting in 2006, according to central bank governor Sureyya Serdengecti.
ECB's Mersch says eurozone tax harmony not needed
Eurozone members aren't obliged to harmonize taxation practices as this isn't part and parcel of European Monetary Union, Luxembourg Central Bank Governor Yves Mersch said on Friday 2 December.
Quaden says eurozone rates now 'appropriate'
Belgian National Bank governor Guy Quaden has called the level of European Central Bank interest rates "appropriate" for the emerging recovery of the eurozone.
ECB's Weber worries over credit growth
The European Central Bank's mid- to long-term strategy is at risk from the pace of credit growth in the euro zone and this danger must be countered, ECB Governing Council member Axel Weber was quoted as saying on Sunday 4 December.
PBOC says China to deepen yuan rate reform
China will deepen yuan exchange rate reforms and further promote the convertibility of the currency in the capital account, the People's Bank of China (PBOC) said in answer to a series of questions published in the China Securities Journal.
Central bank to replace BMA in Bahrain
A central bank with a BD500 million capital will be established in Manama to replace the Bahrain Monetary Agency to meet the Kingdom's comprehensive development plan for the banking sector, the Bahrain Tribune reported on Monday 5 December.
G7 calls for further move on yuan flexibility
The G7 nations increased pressure on China to move to a more flexible currency regime on Saturday 3 December and asked the IMF to take a bigger role in offering advice on foreign exchange.
Interview with new OECD secretary-general
In an interview published on Monday 28 November, Angel Gurria, the new secretary-general of the OECD, said the OECD should become the forum for resolving global imbalances.
How the Fed should steer the Bernanke transition
According to this article published on Monday 28 November, the minutes of the latest Federal Open Market Committee meeting, released last week, suggest the Federal Reserve is having some difficulty handling the transition to a new chairman.
Bianchi appointed to Bank of Italy FX division
Bruno Bianchi has been appointed director general of Ufficio Italiano Cambi, the foreign exchange division of the Bank of Italy.
Argentine economy minister forced to resign
Roberto Lavagna was forced to resign this week as Argentina's economy minister, raising doubts over the sustainability of the country's economic recovery.