News
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.
Turkish interest rate cut
The Central Bank of Turkey (CBRT) yesterday, 8 November, cut short-term interest rates by 25 basis points, bringing the overnight borrowing rate and the lending rate to 13.75 percent.
ECB's Weber sees inflation risks
Bundesbank president and ECB governing council member, Axel Weber, told reporters at a news conference on 8 November that risks to price stability have increased in the eurozone in recent weeks, primarily due to a rebound in economic growth, soaring oil…
Comment: The ECB clarifies collateral policy
President Jean-Claude Trichet's clarification yesterday that the ECB would only accept sovereign debt with a rating of A- or higher as collateral for loans to commercial banks, is likely to have policymakers in Italy and Greece and a number of eurozone…
BoK feels the pinch
Bank of Korea (BoK) officials are up in arms about alleged plans by the government to scrap some of the central bank's 16 regional headquarters and cut its payroll.
Brazilian CB reduces number of meetings
The Central Bank of Brazil will lengthen the period between its interest rate policy meetings to 44 days from the current 30 days.
Colombian CB continues to sell reserves
The Colombian central bank sold $114 million in foreign exchange reserves to the government last week.
Euro ministers warn against rate hikes
Finance ministers meeting in Brussels renewed their calls for the European Central Bank to refrain from interest rates hikes.
Georgian battle over CB capital
The National Bank of Georgia (NBG) and the government look set for a stand-off over the bank's capital.
Jordan's interest rates on the move
The Central Bank of Jordan (CBJ) governor, Umayya Touqan, announced on Sunday 6 November that interest rates on repurchase agreements for a week would be raised by 25 basis points.
Interview with PBOC's Tang Xu
In an interview published on Wednesday 2 November, Tang Xu, director-general of the research bureau of the People's Bank of China, said China's economy has already achieved its long-awaited landing even with growth rates around 9 percent.
Swaziland appoints new board member
Finance Minister Majozi Sithole has appointed Swaziland Finance and Development Corporation CEO Vincent Mhlanga to the Central Bank of Swaziland's Board of Directors.
Ireland's Hurley ranked tops for pay
Central Bank of Ireland governor John Hurley was listed as the third-highest paid governor in the twelve-nation eurozone this week, even though he leads the smallest central bank.
Lazear may replace Bernanke on Advisory Council
US President George W Bush may replace Ben Bernanke with Edward Lazear as chairman of the White House Council of Economic Advisers, a report quoted sources as saying.
With Bernanke at bat, Fed will target inflation
According to this recent article, Ben Bernanke will devote significant staff resources to further study on issues he has spoken and written about, when he takes over at the Fed. And the advantages of his approach will become overwhelming enough in the…
Former World Bank chief moves to Citigroup
Citigroup said this week that James D. Wolfensohn, 71, who left as president of the World Bank last spring after 10 years at the helm, would serve as a global strategy adviser to senior management and clients.
Further rapid fx reserve rise undesirable - PBOC
A further rapid increase in Chinese foreign exchange reserves is undesirable, an official with the People's Bank of China told Market News.
Kosovo to establish central bank by end of 2006
The Banking and Payment Authority of Kosova will be transformed into the Central Bank of Kosovo by the end of next year, the BPK and the Ministry of Economy and Finance were quoted as saying by KosovaLive.
Markets well prepared for rate hike says Stark
Bundesbank Vice-President Juergen Stark said in an interview on Friday 4 November financial markets are well prepared to digest an interest rate hike by the European Central Bank.
Greenspan questions gold holding, notes usefulness
In testimony to Congress on Thursday 3 November Alan Greenspan said why the Fed holds gold is a very interesting question and it's one that has been debated at length on rare occasions within government.
New deputy governor appointed to ECCB
Trevor Brathwaite, Permanent Secretary, Ministry of Finance, International Financial Services and Economic Affairs, St Lucia, was appointed Deputy Governor of the Eastern Caribbean Central Bank (ECCB) this week.