News
IMF's Rato says don't rule out ECB rate cut
The head of the International Monetary Fund has said a rate cut in the Eurozone cannot be ruled out if the EU economy weakens.
Russia 'won't react to rumours' over euro
A senior Russian central bank official said on Monday 6 June that reports Italy and Germany could drop the euro were "just rumours," and said Russia has no intention of changing its reserves structure.
Bahrain hosts Islamic banking supervision course
The Bahrain Monetary Agency (BMA) and the Bahrain Institute of Banking & Finance (BIBF) is currently holding a five-day course on Islamic banking supervision.
IADB president announces his resignation
The president of the Inter-American Development Bank, Enrique V. Iglesias, on Tuesday 31 May informed the IDB Board of Executive Directors that he is resigning his post, effective September 30, 2005.
IMF's Rato pays tribute to James Wolfensohn
Rodrigo de Rato, Managing Director of the International Monetary Fund (IMF), issued a statement on Tuesday 31 Maypaying tribute to James D. Wolfensohn, the outgoing President of the World Bank.
Optimist joins ECB in gloomy times
This article profiles Lorenzo Bini Smaghi, who joined the European Central Bank's executive board on 1 June. All indications suggest that Bini Smaghi, far from rocking the boat, is firmly on board with the ECB's current approach to monetary policy, it…
You wanna be a central banker? Think again
Following the events in Thailand, this article published Friday 3 June suggests central bank governors around the world probably aren't sleeping well this week. What if this short-sighted, punish-the-central-banker mindset spread to other realms, it asks.
Ex-Thai central bank chief ordered to repay $4.6bn
The former governor of Thailand's central bank, Rerngchai Marakanond, was ordered on Tuesday 2 June to pay back the Bt186bn (US$4.57bn) spent in the futile defence of the currency on the eve of the 1997 Asian financial crisis.
Turkmen central bank chief fired for embezzlement
Shekersoltan Muhammedova, the acting governor of Turkmenistan's central bank, was sacked this week for "grave shortcomings and embezzlement of state funds," according to the BBC Monitoring Service which quoted the translation of a report on Turkmen TV…
Italian minister suggests return to lira
An Italian government minister has suggested the country should consider bringing back the euro.
Gramlich unsure on what 'inning' Fed is in
Federal Reserve governor Edward Gramlich said on Friday 3 June that he did not know what stage the US central bank was at in its interest-rate rise cycle.
BNB chief says euro breakaway idea 'absurd'
Belgian National Bank governor Guy Quaden dismissed as 'an absurd scenario' talk that some EU countries will break away from the euro zone in the wake of the French and Dutch rejections of Europe's constitution.
SARB says inflation to stay in target
The South African Reserve Bank said Thursday 2 June that inflation will remain inside the 3-6 percent target band and the economy had entered a phase of high growth.
Iraq's small coins going unused
Millions of dinar coins minted by the Central Bank of Iraq are going unused as banks are reluctant to accept them, and high inflation means there is less and less need for small denominations.
BIS completes redistribution of shares
The Bank for International Settlements (BIS) announced on Wednesday 1 June the sale to its member central banks of 35,933 BIS shares valued at SDR 468.2 million.
Trichet says ECB unanimous that rates appropriate
European Central Bank president Jean-Claude Trichet said the ECB governing council was 'unanimous' at its meeting Thursday that interest rates remain appropriate.
Taya says BOJ may delay bond purchase cut
Japan's central bank may hold off reducing its monthly bond purchases after it cuts the target for reserves available to lenders, according to Teizo Taya, a former policy maker.
Dallas Fed chief says tightening cycle may be over
The FOMC may soon end its trend of interest rate increases but inflation remains a risk due to strong U.S. growth, Federal Reserve Bank of Dallas President Richard Fisher said on Wednesday 1 June.
Nigeria plans payment system reforms
The Central Bank of Nigeria (CBN) has said its major priority following the consolidation of the banking industry is to reform the payments system which currently remains largely cash-based.
RBA paper warns on inflation targets
A research paper published by the Reserve Bank of Australia on Thursday 2 June has warned that central banks should not set their inflation targets too low.
SARB has no reserve target - Plenderleith
The South African Reserve Bank plans to keep gradually building its foreign exchange reserves, Deputy Governor Ian Plenderleith said in an interview.
Move to convertible yuan 'gradually, prudently'
China will gradually and prudently move to make its currency, the yuan, convertible, PBOC governor Zhou Xiaochuan said.
Monetary union not under threat - Eichel
German Finance Minister Hans Eichel does not believe the EU monetary union will collapse and is not interfering in the monetary policies of the European Central Bank, a spokesman for Eichel was quoted as saying.
Riksbank's Heikensten says growth weaker
Sweden's Riksbank governor Lars Heikensten said recent indicators suggest economic activity is slightly weaker than forecast in the central bank's last inflation report in March, so it is important "that all doors are kept open" regarding monetary policy.