News
Joint Indo-Russian seminar to begin in Moscow
The Reserve Bank of India (RBI) and Russian central bank, along with Vneshtorgbank, are organising the first ever Indo-Russian banking seminar in Moscow to devise joint strategies to control money laundering.
China ready for currency flexibility says US
US Treasury Secretary John Snow said "now is the time" for China to change its currency system, but there is no indication that the Chinese feel the same sense of urgency.
Hong Kong foreign currency reserves increase
Hong Kong's foreign currency reserve assets stood at 122.6 bln usd at end-April, up from 122.4 bln at the end of March, the Hong Kong Monetary Authority (HKMA) said.
Iran's central bank independece not in sight
Independence for the Central Bank of Iran is unlikely to take place any time soon, according to a government minister.
BOJ's Fukui says zero rate policy stays
Bank of Japan governor Toshihiko Fukui said on Sunday 8 May that the BOJ will maintain its fight against deflation despite favourable signs in the economy, but the current policy won't last indefinitely.
East Africa moving towards currency union
Central bank governors from the East African Community (EAC) member states of Kenya, Uganda and Tanzania agreed at the weekend to work towards monetary union.
ECB's Garganas sees no reason for rate hike
European Central Bank council member Nicholas Garganas said in an interview that there is no need for the bank to start raising interest rates until inflation pressures increase.
G10's Trichet sees 2005 global growth around 4%
G10 chairman Jean-Claude Trichet said following a meeting of central bank governors on Monday 9 May that they still expect global growth to be around 4 pct this year despite recent mixed signals from economic data.
PBOC deputy says economy performing well
People's Bank of China Deputy Governor Li Ruogu said on Monday 9 May that the Chinese economy is performing well and added that he was satisfied with the inflation rate.
Bank of England appoints Head of Internal Audit
The Bank of England announced on Thursday 5 May that Stephen Brown has been appointed Head of Internal Audit with effect from 4 July.
Election to Danmarks Nationalbank's Board
Denmark's Folketinget (Parliament) has elected Ms Helle Thorning-Schmidt and Mr Henrik Sass Larsen to the Board of Directors of Danmarks Nationalbank until 31 March 2006.
SCH bank appoints former Bank of Spain governor
Luis Angel Rojo, who was governor of the Bank of Spain between 1992 and 2000, has been appointed to the board of directors of Spanish bank Santander Central Hispano (SCH).
Duisenberg reveals political interference
European Central Bank ex-President Wim Duisenberg disclosed for the first time recently that German Chancellor Gerhard Schroeder, French President Jacques Chirac and Italian Prime Minister Silvio Berlusconi have all tried to influence the ECB's monetary…
Dallas Fed announces change in research function
The President of the Federal Reserve Bank of Dallas, Richard W. Fisher, on Friday 6 May announced a change in the organisation and focus of the bank's Research Department in order to better analyse the effects of globalization on monetary policy.
Fed's Olson: new financial products create risks
A senior Federal Reserve official told the Chicago Fed's bank structure conference on Thursday 5 May that US consumers can more easily tap the value of their homes for cash, which has helped them "smooth their consumption" and helped the economy bounce…
US on track to halve budget deficit says Snow
US Treasury Secretary John Snow on Thursday 6 May said that continued American economic growth and strong tax receipts had kept the U.S. government in view of its stated aim of cutting the budget deficit by 50%.
Tanigaki says Japan's economy recovering
Japanese Finance Minister Sadakazu Tanigaki reiterated on Thursday 5 May that the country's consumers are powering economic recovery and vowed to press on with fiscal reforms, although moderate deflation continued to pose a problem.
US and Chinese officials to meet on yuan issue
Officials from the People's Bank of China plan to meet on Monday 9 May with US Treasury Department officials for continuing discussions relating to various financial issues including China's pegged exchange rate system.
Nigeria appoints deputy governor after resignation
The Central Bank of Nigeria announced on Tuesday 3 May that Dr Obadiah Mailafia will replace Mrs Wahir Mshelia as the Deputy Governor for Policy on Monday 9 May. Mshelia resigned last week with press reports suggesting there were 'strong indications' she…
Brazil's Supreme Court upholds partial immunity
The Supreme Federal Court on Thursday 5 May upheld the decision to give Brazil's central bank President Henrique Meirelles immunity from prosecution from common courts in an ongoing illegal tax and forex transaction case against him, local media reported.
Tokyo urges China to act 'responsibly' on reserves
Japanese Finance Minister Sadakazu Tanigaki said that Japan will manage its foreign-exchange reserves to help create stability rather than maximize profit and called on China and South Korea to also act "responsibly."
Speculation makes yuan shift difficult says China
China's Finance Minister Jin Renqing said excessive speculation that the yuan will be allowed to appreciate is making it harder for the government to loosen the currency's peg to the US dollar.
FATF head to be at anti-money laundering seminar
Head of the Financial Action Task Force (FATF) Jean-Louis Fort will take part in a seminar on combating money laundering and terrorist financing conducted by the Russian central bank in June.
Bank of Italy claims impartiality over Antonveneta
The Bank of Italy has said it was fair with Banca Popolare di Lodi and ABN Amro Holding NV in their battle to take over Banca Antonveneta SpA, according to a letter sent to EU commissioner for the internal market Charlie McCreevy published by the daily…