News
Nobel winner: BOT supervision role should remain
Thailand should continue with its current structure whereby the Bank of Thailand supervises the banking system and not shift the role to the Ministry of Finance, according to 2004 Economic Sciences Nobel Laureate Edward Prescott.
Venezuela presents central bank reform proposals
Venezuela's government has submitted a legislative proposal that would allow President Hugo Chavez to tap reserves held by the central bank.
Snow calls for Europe economic reforms
US Treasury Secretary John Snow urged Europeans on Thursday 16 June to better integrate their financial markets as a way to stimulate growth.
Korea postpones currency swap decision
The Bank of Korea (BOK) postponed a decision Wednesday 15 June on a proposal to lend some of its foreign exchange reserves to domestic banks through currency swaps, the central bank said.
'Many ministers' want ECB rate cut says Juncker
Euro group president Jean-Claude Juncker has said "many ministers" want the European Central Bank to cut interest rates.
Buba's Weber says ECB rates appropriate
The current level of interest rates in the 12-country euro zone is 'appropriate,' Bundesbank chief Axel Weber said Wednesday 15 June.
SF Fed says flatter yield curve not a warning
A study published by the Federal Reserve Bank of San Francisco says a sharp flattening in the US Treasury yield curve need not suggest the onset of economic weakness.
Iran urges Tajikistan to join union of Asian banks
Visiting from Tehran on Wednesday 15 June, Iran's central bank governor called on Tajikistan to initiate accession of the Tajik national bank to the union of Asian central banks.
China report says efforts stepped up on yuan
The People's Bank of China said in its annual report on Tuesday 14 June it had stepped up its efforts to set up a more flexible foreign exchange mechanism due to fears capital being held overseas could flood back into the country.
ECB rates appropriate says Trichet
ECB president Jeane-Claude Trichet said the ECB council believes its current interest rates are 'appropriate' and that membership of the euro is a win-win situation for member countries.
Japan upgrades economic assessment
The Japanese government upgraded its view of the economy on Wednesday 15 June for the first time in 11 months, citing recovery in personal spending and the labour market.
Flexible yuan would help world economy says Snow
US Treasury Secretary John Snow said on Tuesday 14 June that the world economy would benefit from a more flexible Chinese yuan exchange rate.
SA fin min says IMF gold sales not an option
South African Finance Minister Trevor Manuel said on Monday 13 June that the sale of gold held by the International Monetary Fund was not an option in funding debt relief for poor developing countries any more.
ADB chief calls for early yuan shift
Asian Development Bank President Haruhiko Kuroda said on Tuesday 14 June that China should shift to a more flexible currency regime at an early date as such a move would benefit China and the rest of the world.
PBOC to guard against inflation
China's central bank's stance will remain focused on preventing major fluctuations in the country's economy and keeping prices "from growing to quickly", the official Financial News reported.
Bof E did not lie over BCCI, says former director
A former head of supervision at the Bank of England rejected allegations on Monday 14 June that the Bank had lied during an inquiry into the collapse of Bank of Credit and Commerce International.
IMF's Rato welcomes G8 proposal on debt
IMF Managing Director Rodrigo de Rato welcomed the G8 Finance Ministers' Conclusions on Development, the IMF said in a press release on 11 June.
G8 pressures Asia to adopt flexible FX
Finance ministers from the G8 rich nations on Saturday 11 June urged emerging Asia to adopt flexible currency policies, but did not mention currencies in their final communique.
Noyer says no European government would leave euro
Banque de France President and European Central Bank governing council member Christian Noyer said in an interview he believes no European government would seriously consider leaving the euro.
ECB's Issing doesn't rule out rate cut
In an interview with German weekly magazine Der Spiegel, ECB chief economist Otmar Issing said he did not think the recent "no" votes in France and the Netherlands were adversely affecting the currency.
Former Dallas Fed head sees two further rate hikes
The Federal Reserve will hike rates by two more quarter-point moves and then stop, according to Robert McTeer, the former president of the Federal Reserve Bank of Dallas.
EU's Almunia says euro to 'stay forever'
EU Economic and Monetary Affairs Commissioner Joaquin Almunia has downplayed concerns over the viability of European Monetary Union, saying that no member is likely to abandon the body.
Bush says replacing Greenspan will be hard
US president Bush said in an interview on Wednesday 8 June that finding a replacement for Federal Reserve chairman Alan Greenspan is going to be a tough job.
Sao Tome names central banker new prime minister
The president of Sao Tome, a tiny African archipelago, named the head of the country's central bank as the new prime minister late on Tuesday 7 June.