News
Serdengecti: Hot money flows no threat to Turkey
Turkey's central bank governor is "not scared" of hot money flows to the country, the governor of the central bank, Sureyya Serdengecti said in London on Thursday 27 October.
Uzbekistan freezes currency convertibility- report
The Uzbek authorities have suspended the convertibility of the national currency for current-account transactions in order to curb rising inflation, the Kazakh newspaper Delovaya Nedelya reported on 28 October.
Berlusconi suggests new mandate for ECB
Italian Prime Minister Silvio Berlusconi said on Thursday 27 October that he had suggested to fellow European Union leaders the idea of changing the European Central Bank's mandate because inflation no longer represented a problem for the eurozone.
Wellink sees increased inflation concern for ECB
European Central Bank council member Nout Wellink said in an interview that the bank is ``increasingly concerned about inflation,'' echoing comments by other ECB officials.
Fed pick Bernanke meets with Senators
Federal Reserve nominee Ben Bernanke began making courtesy calls on Thursday 27 October with senators who will determine his nomination's fate.
RBNZ increases OCR to 7 per cent
The Reserve Bank of New Zealand increased the Official Cash Rate (OCR) by 25 basis points to 7.00 per cent on Thursday. RBNZ governor Alan Bollard said medium term inflation risks remain strong.
Rato: Economic impact of oil may not remain benign
IMF managing director Rodrigo Rato said in an article that there is a risk that the economic impact of high oil prices may not continue to be as benign as it has been up to now.
RBI's Reddy sees demand pressure build up
Reserve Bank of India governor Yaga Venugopal Reddy said on Wednesday 26 October that price pressures were building up in the country which is expected to grow 7.0-7.5 percent by March 2006.
Liikanen says ECB on alert over inflation risk
European Central Bank Governing Council member Erkki Liikanen said on Thursday 27 October that rising energy costs create significant risks to long-term inflationary expectations in the euro zone.
Brazil sees 'transitory' inflation pressure
Brazil's central bank said in minutes of its COPOM meeting released on Thursday 27 October that it was closely monitoring "transitory" price pressures before it made rate decisions in the coming months.
Bank of Canada Fixed Income Markets conference
The Financial Markets Department of the Bank of Canada has announced it will host a conference on Fixed Income Markets to be held at the Bank of Canada on 3 and 4 May, 2006.
PBOC clarifies vice governor's remarks
The People's Bank of China (PBOC) said the yuan exchange rate will not keep on appreciating indefinitely, clarifying an earlier media report that quoted central bank vice governor Wu Xiaoling as saying that the yuan will further rise.
Dodge sees 'high degree of liquidity' in market
Canadian interest rates are low enough to allow substantial liquidity on domestic financial markets, Bank of Canada Governor David Dodge told the House of Commons finance committee on Tuesday 25 October.
ECB's Weber says inflation risk 'noticeably' up
European Central Bank Governing Council member and Bundesbank President Axel Weber said upward risk for euro area price stability has grown "noticeably", with inflation expected "with sufficient certainty" not to duck below 2% by the end of next year.
BoE's King sees bumpy ride ahead for UK economy
Bank of England governor Mervyn King said on Tuesday 25 October that the UK economy faces increased volatility in the next few years than has been experienced recently.
Bernanke doesn't see inflation picking up
U.S. inflation pressures are likely to remain within the energy sector, and fiscal and monetary policy remains accommodative, Federal Reserve chairman nominee Ben Bernanke said in a newspaper interview published on Tuesday 25 October.
PBOC's Wu says China will not widen yuan band soon
China's central bank repeated it commitment on Tuesday 25 October to the yuan's tightly regulated trading band.
China forex reserves expected to surpass Japan's
China's forex reserves are expected to surpass Japan's this year as strong fund inflows and a burgeoning trade surplus make it the world's largest holder of foreign currency, state press reported.
Estonia's Ansip sees faster growth from euro entry
Estonian Prime Minister Andrus Ansip said adopting the euro in 2007 will add 1 percentage point a year to economic growth, increase foreign investment and also boost tourism.
Poland plans referendum on euro entry
Poland should "definitely" hold a referendum before it adopts the euro, President-elect Lech Kaczynski told foreign journalists Monday 24 October.
Greenspan to testify on economic outlook 3 Nov
Federal Reserve Chairman Alan Greenspan will testify on the U.S. economic outlook before the Joint Economic Committee of Congress on 3 November, the panel said on Friday 21 October.
Rato says US rates should rise, ECB hold
The US Federal Reserve should increase interest rates gradually but the European Central Bank should keep its rate on hold for now, the International Monetary Fund chief Rodrigo Rato said in an interview.
Yellen says Fed should not target asset bubbles
San Francisco Fed President Janet Yellen said on Friday 21 October that the Federal Reserve's interest rate policy should not target asset bubbles such as the U.S. housing market.
Trichet notes that inflation risks have increased
ECB president Jean-Claude Trichet said in an interview that the risk of rising inflation in the euro zone has increased with the recent surge in oil prices, and the ECB would reinforce its vigilance to head-off a widespread rise in prices.