News
Fukui: Japan's monetary easing policy to remain
Bank of Japan governor Toshihiko Fukui said on Wednesday 6 July that the central bank will maintain its quantitative monetary easing policy to support the Japanese economy until deflation risks retract.
EU Parliament rejects ECB report over rate stance
MEPs rejected a report praising the European Central Bank's interest rate policy on Tuesday, saying the ECB was focusing too narrowly on stability and ignoring the need for growth.
Bank Indonesia to boost rupiah
Bank Indonesia governor Burhanuddin Abdullah said on Tuesday 5 July that the central bank will lend state-owned oil company Pertamina money to fund oil imports as part of efforts to support the rupiah exchange rate.
ECB's Noyer says euro departure possible
European Central Bank (ECB) governing council member Christian Noyer said in a closed appearance in the French National Assembly last week that it would be possible, but highly risky, for member states to leave the eurozone.
PBOC adviser backs yuan rate policy
A Chinese central bank adviser has said that monetary policy should stay stable in the near future and that China's economic growth and inflation were optimally matched, the Financial News said on Tuesday 5 July .
Romania's Isarescu says inflation to reach 7.5%
The governor of Romania's central bank Mugur Isarescu said on TV that inflation might reach 7.5 per cent this year, instead of the 6per cent that was expected initially, but he assured his audience that inflation will continue to fall.
IMF's Rato says no need for ECB rate cut yet
International Monetary Fund managing director Rodrigo Rato said in an interview that there is no reason for the European Central Bank to cut interest rates at the moment, but it should do so if euro zone growth weakens any further.
PBOC facing difficulty in setting policy-report
The People's Bank of China has said it is facing more difficulty in setting monetary policy because of the fast-changing domestic and international environment, the official Financial News reported.
Russia ranked world's fifth in reserves
Russia ranks the world's fifth in terms of its international reserve assets (for gold and foreign exchange reserves), Prime Tass economic news agency reported on Friday 1 July.
Philippines joins anti-money-laundering network
The Philippines' Anti-Money Laundering Council (AMLC) has been admitted as a member of the Egmont Group, a global network of financial intelligence units that tackles money-laundering, the central bank said.
ECB's Liebscher says slowdown 'temporary'
European Central Bank council member Klaus Liebscher has called a slowdown in the region's economy a "temporary phase of weakness" and said rising exports and a declining euro will help revive growth by the end of 2005.
New Philippine central bank governor sworn in
Philippine president Gloria Macapagal-Arroyo on Monday 4 July swore into office Amado Tetangco Jr. as the new chief of the central bank.
ECB reorganises human resources
The European Central Bank announced on Tuesday 28 June that it would merge the Directorate Human Resources and the Directorate Planning and Controlling into a new Directorate.
Interview with ECB's Bini Smaghi
In an interview published this week European Central Bank Executive Board member Lorenzo Bini Smaghi said blaming the euro is like blaming the thermometer when you are ill. Proof that the euro is not the cause of the crisis is provided by the fact that…
Interview with ECB's Gonzalez-Paramo
In an interview published this week European Central Bank Executive Board member Jose Manuel Gonzalez-Paramo said the price of oil is the main risk weighing on the recovery. But the persistence of global imbalances is also a threat.
RBI names Rakesh Mohan as deputy governor
The Economic Affairs Secretary, Rakesh Mohan, has been appointed as a Deputy Governor of the Reserve Bank of India and is likely to be in charge of the monetary policy department, an official was quoted as saying on Wednesday 29 June.
Interview with RBI's Reddy
In an interview published this week Reserve Bank of India governor Yaga Venugopal Reddy said there are continued uncertainties and fuel prices would be one of the topics for discussion at the RBI's next policy meeting in late July.
Federal Reserve raises interest rates to 3.25%
The Federal Open Market Committee decided to raise its target for the federal funds rate by 25 basis points to 3-1/4 percent on Thursday 30 June. In its statement the FOMC maintained its "measured" stance and said that although energy prices have risen…
Interview with BSP's Tetangco
In an interview published on Friday July 1, Amando Tetangco, who takes over formally as governor of the Philippines central bank on Monday, said his move into the governor's seat won't result in major policy changes "because it's basically a continuation…
Tajik central bank chief's home robbed
The home of the governor of the central bank of Tajikistan was broken into late on Thursday 30 June by unknown assailants who killed one guard and stole cash and jewellery, Reuters reported.
EU's Almunia says Poland should join EMU soon
The EU Commissioner for Economic and Currency Affairs, Joaquin Almunia, has expressed hope that Poland will join the eurozone (EMU) as soon as it meets the fiscal requirements.
Indonesia sets up bank supervision board
The Lower House of Indonesia's Parliament Commission XI has set up a five-member supervisory board for the central bank which will be chaired by a former banker and banking legal expert Sutan Remy Sjahdenini, Bisnis Indonesia reported.
Korea launches reserve management agency
South Korea launched an independent agency Friday 1 July which will manage part of its foreign exchange reserves, seeking to boost investment returns.
US Senators delay China currency bill vote
U.S. Senators Charles Schumer and Lindsey Graham have delayed a vote on their bill to impose tariffs on Chinese imports after Federal Reserve Chairman Alan Greenspan and Treasury Secretary John Snow persuaded them China will make its exchange rate more…