News
Senate panel gives Bernanke go ahead as Fed chair
The U.S. Senate Banking Committee on Wednesday 16 November approved the nomination of Ben Bernanke to be chairman of the Federal Reserve, sending it to the full Senate for a final confirming vote.
SARB may increase gold reserves
The South African Reserve Bank might increase its gold reserves, its head said Tuesday, but gave few details.
Yosano downplays BOJ criticism
Japan's economic and fiscal policy minister Kaoru Yosano downplayed criticism Tuesday 15 November within the government over the Bank of Japan's plan to explore an end to its ultra-loose monetary policy.
Market drives US payment systems - Fed's Olson
In a speech at the First EU/US Retail Banking Forum Conference in Brussels, US Federal Reserve governor Mark W. Olson said the private and public sectors have contributed to a "more efficient national payments system that facilitates greater commerce and…
EC endorses amended IAS 39
The European Commission (EC) has endorsed the amended version of the International Accounting Standard 39 (IAS 39).
Duck-soo urges BoK caution
South Korea's finance minister, Han Duck-soo, said on Tuesday 15 November that the Bank of Korea should be "more cautious" in raising interest rates.
New currency for Zimbabwe
The Reserve Bank of Zimbabwe (RBZ) has announced that it will introduce a new currency next year. RBZ governor Gideon Gono said the new currency would be unveiled "at a date to be announced".
Bernanke hawkish on inflation
In his confirmation hearing before the US Sentate Banking Committee, Ben Bernanke expressed some concerns about the current inflation rate in the US.
Bernanke heads to Capitol Hill
Market participants will have all eyes on Ben Bernanke as he appears before a US Senate committee on Tuesday, 15 November. Bernanke is to appear before the Senate Banking Committee as part of the run-up to him taking over the reins from Alan Greenspan as…
BoE interest rate challenge gets under way
The sixth annual Bank of England (BoE)/Times Target Two Point Zero Interest Rate Challenge commences on 21 November. The competition asks nearly one thousand school and college students to decide what the UK's official interest rate should be to keep…
CLS data on FX transactions
The CLS (Continuous Linked Settlement) Group on Monday released new data showing that during October 2005, a daily average of 215,016 foreign exchange transactions was completed using their global settlement system.
CBs to buy more gold - Rogoff
Kenneth Rogoff told delegates attending a precious metals conference in Johannesburg that he expects central bank gold sales to be reversed in time.
Bank of Canada enhances transparency
The Bank of Canada has implemented new measures to enhance the transparency and accountability of its operations.
ECB opposes BoI reform bill
Attempts to reform governance structures at the Bank of Italy (BoI) yesterday received another blow when Lorenzo Bini Smaghi, a member of the ECB's executive board, said the government should amend some of the initiatives proposed in a parliamentary bill.
No rates change, recovery "gradual" - BoK's Park
The Bank of Korea (BoK) on Thursday 10 November left its benchmark short-term interest rate unchanged at 3.5 percent. The decision was widely expected by market participants, following a 25 basis point increase last month.
Shariah guidelines
Comments by delegates attending a conference on Islamic financial services in Luxembourg suggest that Shariah guidelines present a headache for central bankers.
New central banking appointments
A number of new appointments in key central banking positions were announced last week.
Comment: Unresolved collateral issues remain
The news that the ECB will only accept sovereign debt with an A- rating or higher as collateral for repurchase agreements and other collateral financing trades with commercial banks will help to instil fiscal discipline on member countries in the long…
BoE: no rates change
The Bank of England left its main interest rate yesterday, 9 November, unchanged at 4.5% for the third month in succession. The decision was widely expected after recent comments by Mervyn King, governor of the Bank, indicating he was against rate cuts.
French economy's lights "turn green"
Economic growth in France picked up in the third quarter, while inflation subsided in October. Data released on 10 November showed that the economy expanded by 0.7 percent in the third quarter, while October inflation figure was down to 2 percent…
Drop exchange controls: SARB's Mboweni
South African Reserve Bank (SARB) governor raised some eyebrows on Wednesday evening, when he told a conference audience in Cape Town that the country's remaining foreign exchange controls have become "purposeless" should be abolished.
ECB's Target 2 delayed
The ECB has announced that the launch of Target 2 has been further delayed. The first group of countries will move to the EU's new large-value payment system on 19 November 2007, 11 months later than originally planned.
Aid response "not so great" - Husain
Pakistan's central bank governor, Dr Ishrat Husain, has expressed his disappointment at the "not so great" aid response to the devastating earthquake which hit the country last month.
McCreevy favours legal action over Fazio
European Union (EU) internal market commissioner, Charlie McCreevy, said on Tuesday that he favoured legal action against Italy over the way the country's central bank handled two foreign bank takeover bids earlier this year.