News
IMF postpones Zimbabwe expulsion
The Executive Board of the International Monetary Fund reviewed Zimbabwe's overdue financial obligations to the IMF on 9 September and further considered the Managing Director's complaint regarding Zimbabwe's compulsory withdrawal from the IMF.
BOJ's Fukui: stable prices, low interest rates
Expectations for stable prices are behind the recent global phenomenon of low long-term interest rates, Bank of Japan Governor Toshihiko Fukui said in a speech published on Monday 12 September.
Bahrain to host 39th GCC meeting
Bahrain will host the 39th meeting of the governors of central banks and monetary agencies of the six-state Gulf Cooperation Council scheduled for 14-15 September.
PBOC to avoid triggering forex volatility
People's Bank of China chief Zhou Xiaochuan has vowed that the bank will not begin any changes in the management of its foreign exchange reserves that could introduce market volatility.
Weber says ECB to weigh Katrina impact
The European Central Bank is watching the economic impact from Hurricane Katrina closely but it is too early to say how it might affect interest rate policy, ECB Governing Council member Axel Weber said in a speech.
King's cricket connection
Mervyn King spent Thursday 8 September watching England play Australia at the Oval in the last Ashes cricket Test. But the Bank of England governor doesn't just watch the game, he is also involved in a campaign to bring more cricket to state schools in…
Interview with IMF's Rodrigo de Rato
In an interview published this week IMF managing director Rodrigo de Rato warns that high oil prices could halt Korea's economic recovery. He also says sluggish export growth could put a brake on the recovery.
OECD needs reform says Japan's candidate
Japan's candidate to become the next secretary-general of the OECD says the group needs to be more responsive to developing countries to avoid losing its importance as an international organization, the Financial Times reports in its international…
Caruana's potential replacements named
According to a report by Expansion this week, there are four names in the hat to replace Jaime Caruana as governor of the Bank of Spain when he steps down in Summer 2006.
Dookeran may lead Trinidad party
The former governor of the Central Bank of Trinidad and Tobago, Winston Dookeran, may become leader of the main opposition party in Trinidad after the incumbent announced he would not be running for the post again.
Kyrgyzstan's central bank chief under house arrest
The governor of the National Bank of the Kyrgyz Republic, Ulan Sarbanov, has been placed under house arrest, accused of abuse of power during the rule of deposed president Askar Akayev.
SNB's Hildebrand says rate hikes may be needed
Swiss National Bank board member Philipp Hildebrand said it may be necessary to increase interest rates further if it becomes clear that a 'sustainable improvement of economic prospects' is occurring.
Central banker says China won't revalue yuan again
People's Bank of China deputy governor Ma Delun said the country won't revalue the yuan again after scrapping its peg to the dollar and will buy and sell currencies to prevent "excessive" movements in the exchange rate.
ECB's Trichet sees need for Asian FX rise
European Central Bank President Jean Claude Trichet said on Friday 9 September that in order for the global economy to work better a further appreciation of Asian currencies is needed.
ADB predicts higher GDP growth for China, India
The Asian Development Bank published a report Thursday 8 September forecasting higher GDP growth for China and India, but expressing concerns for Asian countries of higher oil prices.
Snow sees % GDP impact from Hurricane
U.S. Treasury Secretary John Snow told Bloomberg Television on Friday 9 September that U.S. economic growth would probably dip by closer to 1/2 percentage point in the second half of 2004 because of the Hurricane Katrina.
Berlusconi says government can't force Fazio out
Italian prime minister Silvio Berlusconi said Friday 9 September the government can not force Bank of Italy governor Antonio Fazio to resign and only the European Central Bank can intervene.
Italy's Fazio to miss EU talks on Friday
The Bank of Italy said on Thursday 8 September that its governor Antonio Fazio will not attend the European finance meeting in England which begins on Friday.
Report says Fed rate pause 'not ruled out'
Federal Reserve officials say they are watching to see how financial markets and the economy react to the destruction caused by Hurricane Katrina before deciding on what action to take at their policy-setting meeting on Sept. 20, the Wall Street Journal…
Uganda upgrades foreign reserve management
The Bank of Uganda (BOU) plans to upgrade its foreign reserve management operations by installing a software system worth one million US dollars.
BOK will 'seriously' consider rate hike next month
Bank of Korea governor Park Seung said the central bank may raise its benchmark interest rate as early as next month as it needs to act before a full economic recovery.
BOJ's Fukui says economy on track
The governor of the Bank of Japan, Toshihiko Fukui, said Thursday 8 September that the economy is moving towards achieving sustained economic growth.
Bank of Canada raises interest rates by 0.25%
The Bank of Canada announced on Wednesday 7 September that it is raising its target for the overnight rate by one-quarter of one percentage point to 2 3/4 per cent.
IMF warns central banks on oil prices
The head of the International Monetary Fund has warned central banks of the second round effects of high oil prices.