News
Italy imposes term limit on central bank governor
Premier Silvio Berlusconi's Cabinet on Friday 2 September approved a reform plan for Italy's central bank that will introduce a seven-year fixed term for the Bank of Italy governor.
Hungary's Jarai says oil rise could impact prices
Hungarian central bank President Zsigmond Jarai said Thursday the increase in oil prices could have an impact on inflation this year.
Kohn could fill hole left by Greenspan
Talk at the recent Fed policy conference in Jackson Hole, Wyoming has put Donald Kohn in the frame as the next chairman of the Federal Reserve.
Trichet reports upside risks to inflation outlook
European Central Bank President Jean-Claude Trichet said Thursday 1 September that upside risks to price stability exist but there is no significant evidence of a build-up in underlying inflationary pressures.
Olson says 'too early' to judge impact of Katrina
Federal Reserve Governor Mark Olson told reporters on Wednesday 31 August it was "too early" to make any comment on the impact of Hurricane Katrina on the U.S. economy.
Low rates reflect low inflation says Santomero
The president of the Philadelphia Federal Reserve Bank said on Wednesday 31 August low long-term U.S. yield rates in the Treasuries market that have received so much attention in recent months are partly a reflection of low inflation expectations.
Malaysia introduces deposit insurance scheme
Malaysia introduced deposit insurance on Thursday 1 September, establishing an independent body to insure people against the loss of their bank savings.
Indonesian rupiah fall unlikely to impact Malaysia
The Indonesian rupiah's fall is unlikely to have any impact on the economies of Malaysia or the ASEAN nations, Bank Negara Malaysia governor Zeti Akhtar Aziz said.
Bank of Canada counterfeit deterrence awards
The Bank of Canada has announced the 2005 recipients of its annual Law-Enforcement Award of Excellence for Counterfeit Deterrence.
More ECB dialogue wanted by France
France called for a more "resolute dialogue" between the eurozone's politicians and the European Central Bank on Tuesday 30 August, saying that fiscal and monetary policy must be better co-ordinated if faster economic growth is to be achieved.
ECOWAS central bank governors begin Accra meeting
Central bank governors of ECOWAS member countries were due to converge on Accra Wednesday 31 August for the 15th meeting of the Committee of Governors (COG) to deliberate plans to achieve macro-economic convergence criteria for the creation of a single…
Govt close to Bank of Italy reform plan
The parties within the right-wing government led by Prime Minister Silvio Berlusconi are close to a compromise regarding the reform of the Bank of Italy, the daily La Stampa said, without giving a source.
Iran's central bank governor pledges reforms
The inflation rate in Iran will drop to a one digit figure by end of the fourth five-year economic development plan (2005-10), said governor of the Central Bank of Iran Ebrahim Sheibani here on Tuesday 30 August.
MAS and IMF seminar on Asian integration
The Monetary Authority of Singapore (MAS) and the International Monetary Fund (IMF) will jointly host a high-level seminar on Asian regional financial integration in Singapore on Saturday 3 September.
Financial Stability Forum to meet in London
The Financial Stability Forum announced on Tuesday 30 August that it will hold its fourteenth meeting on 8-9 September in London.
PBOC to change currency design
China's central bank said it will adopt a new design for its currency note, the yuan, to reduce counterfeiting of the new edition of notes which will start circulation on Wednesday 31 August.
Report says Fazio ready to accept limited term
Bank of Italy governor Antonio Fazio is ready to accept a reform of the central bank and the introduction of limited tenure for his post, the daily Il Corriere della Sera said, citing sources close to the governor.
Strong demand for euronotes
The euro has received a good deal of flak recently, but in cash terms it seems people can't get enough of Europe's single currency as the value of euro banknotes in circulation soared past €500 billion in the second quarter of 2005.
Rupiah sinks on oil-price rise
The Indonesian rupiah has sunk to its lowest level since January 2002, following a week of rapid depreciation. Burhanuddin Abdullah, governor of Bank Indonesia, vowed to continue to defend the rupiah.
Kenya committee to advise on monetary operations
The Central Bank of Kenya will benefit from expert advice on how to implement monetary policy, following the establishment of a Monetary Policy Advisory Committee on August 24.
The yuan's stable float
Noises and signals continue to emerge from China about reforms to the exchange rate regime, but the central bank still appears to have a firm grip on the value of the yuan.
NY Fed to host credit derivatives powwow
The Federal Reserve Bank of New York is to hold a meeting with major banks to discuss issues in the credit derivatives market in September.
Fazio faces strike ultimatum
The union representing the majority of staff at the Bank of Italy has threatened to call a strike unless Antonio Fazio, the central bank's governor, resigns over the Antonveneta affair.
Filipino rates unmoved despite inflation threat
The Philippines central bank held interest rates steady at its August monetary policy meeting, despite inflation which is expected to be above-target in 2005 and 2006.