News
What has Trichet achieved as the ECB's President?
Jean-Claude Trichet has now been president of the ECB for eighteen months, and if you measure his performance by the narrow mandate of price stability, then he has done his job, this article says. Yet if you were to gauge his performance by a wider…
No plan for imminent yuan reform says PBOC
China has no plans to revalue its currency, the yuan, during next week's Labour Day holiday, a People's Bank of China spokesman was quoted as saying on Friday 29 April, quashing rumours that such a change was imminent.
Report says Fed likely to hike rates again
The U.S. Federal Reserve is likely to raise the target for its key short-term interest rate to 3 percent from 2.75 percent when its rate-setting committee meets on Tuesday, The Wall Street Journal said on Friday 29 April.
Kansas Fed's Hoenig praises entrepreneurs
As much as half the economic growth in the United States has come from entrepreneurial ventures, the president and chief executive officer of the Federal Reserve Bank of Kansas City said on Thursday 28 April.
Bangladesh Bank gets new chief
The Bangladesh government has appointed Salehuddin Ahmed as the new governor of the country's Central Bank, the Zee News website reported on Friday 29 April.
ECB faces criticism from Germany, Italy
The European Central Bank came under fire this week when senior German and Italian politicians called on the eurozone central bank to change its policies to help boost Europe's weak economic growth rate.
Integrated markets should boost growth says Weber
More integration of financial markets should give Europe's long-term growth prospects a much-needed boost, European Central Bank Governing Council member Axel Weber said on Thursday 28 April.
Bofinger named favourite to replace Issing at ECB
German Chancellor Gerhard Schroeder's government hasn't decided yet who will succeed European Central Bank Chief Economist Otmar Issing when he retires next year, government spokesman Bela Anda said Friday, after reports named Peter Bofinger as a…
Fischer to begin at Bank of Israel on Sunday
Stanley Fischer is scheduled to start his new job as the governor of the Bank of Israel on Sunday 1 May.
Ecuadoran congress fires central bank directors
The Central Bank of Ecuador (BCE) was left leaderless on Thursday 28 April after the National Congress dismissed the members of its board, the BBC Monitoring Service reported.
RBNZ leaves rates unchanged at 6.75%
The Reserve Bank of New Zealand left the OCR unchanged at 6.75 per cent on Thursday 28 April. In a statement RBNZ governor Alan Bollard said underlying inflation pressures are persisting, as evidenced by rising business costs and ongoing labour market…
ECB's Trichet calls for debate on company profits
European Central Bank president Jean-Claude Trichet has called for a European debate on the way company profits are distributed.
Fed's Gramlich on federal /state lending standards
Federal Reserve Governor Edward Gramlich said on Wednesday 27 April that creating federal standards to combat predatory lending will not necessarily lead to a safer system for consumers.
Calls for curb on Brazil's central bank autonomy
Severino Cavalcanti, the president of Brazil's lower house of congress, has said he wants to remove the power of the central bank to independently set interest rates.
Fukui says policy may not change with positive CPI
Bank of Japan governor Toshihiko Fukui said Thursday the central bank would not necessarily abandon its ultra-easy credit policy once the core consumer price index stops falling.
Russian central bank to increase euro weighting
The Central Bank of Russia plans to increase the euro's weighting in its bi-currency basket to 0.3 soon, CB First Deputy Chairman Alexei Ulyukayev told a press conference on Tuesday 26 April.
Buba's Weber says Q1 growth high
Bundesbank President Axel Weber said on Tuesday 26 April that Germany's economic growth in the first quarter was likely the "strongest" in the year, and is estimated to have posted "roughly about 0.5 pct" GDP growth.
High oil prices 'handicap' eurozone says Issing
European Central Bank chief economist Otmar Issing said on Tuesday 26 April that the high price of oil is a "handicap" to the euro zone economy.
PBOC sees three risks to China's banking system
Chinese banks continues to face three major kinds of risk, namely credit risk, performance risk and trans-business risk, according to Xiang Junbo, deputy governor of the People's Bank of China.
ECB report confirms reserve diversification plan
The European Central Bank confirmed in its annual report on Tuesday 26 April that it is working on significant changes to its foreign reserve management strategy that would allow diversification into different financial instruments.
Russia and SARB hold first consultations
The Central Bank of Russia and the Reserve Bank of South Africa have held consultations in Pretoria, the first in the history of bilateral relations, the Russian central bank's foreign and public relations department stated.
EU's Almunia says no ECB rate rise from French No
European Economic and Monetary Affairs Commissioner Joaquin Almunia said on Tuesday 26 April that the European Central Bank is unlikely to raise interest rates if France rejects the European Constitution in the May 29 referendum.
UK's Brown says IMF gold sales plan 'on the table'
British finance minister Gordon Brown said on Monday 25 April that his proposal to sell the International Monetary Fund's gold to finance debt relief for poor countries was still on the British agenda in spite of opposition from the US.
Tanigaki says economy still in moderate deflation
Japan is still in ``moderate deflation'' and policy makers should keep attempting to overcome it, Finance Minister Sadakazu Tanigaki said on Tuesday 26 April.