News
Bank of France cuts growth forecast
The Bank of France has lowered its first quarter growth forecast for the French economy by 0.1 points to 0.4%.
Zhou Xiaochuan appointed Chairman of the BIS ACC
The Board of Directors of the Bank for International Settlements announced on Monday 7 March that Zhou Xiaochuan, Governor of The People's Bank of China, will become Chairman of the BIS Asian Consultative Council (ACC).
BIS appoints Gunter Pleines to head Banking Dep't
The Board of Directors of the Bank for International Settlements announced the appointment of Gunter Pleines as Head of its Banking Department on Monday 7 March. His appointment takes effect on 1 April 2005 and is for a five-year term.
Phil Fed's Santomero on post-Greenspan era
In an interview published this week, Anthony Santomero of the Philadelphia Fed told Handelsblatt he does not fear any trouble in the financial markets when Alan Greenspan leaves office at the beginning of 2006. "It is understandable that the markets ask …
China fires PBOC official for gambling
The People's Bank of China has sacked the head of a local branch in northeast China's Jilin province for gambling, China News Service reported, without citing sources.
South Korean finance minister resigns
South Korea's finance minister resigned on Monday 7 March over media allegations about his involvement in lucrative real estate deals.
Rock star Bono could be World Bank president
The latest rumour on the World Bank job has U2 rock star Bono lined up for the role. US Treasury Secretary John Snow described him this week as a kind of "rock star of the development world".
Former central banker named Portugal's fin min
Portugal's Prime Minister-elect Jose Socrates named Luis Campos e Cunha, a former central bank deputy governor to the post of finance minister this week.
Richmond Fed names new Director of Research
John A. Weinberg was named director of research and senior vice president of the Federal Reserve Bank of Richmond on Thursday 10 March.
Philippines' Tetangco on the future of the peso
In an interview published this week, Bangko Sentral ng Pilipinas Deputy Governor Amando Tetangco said looking at the fundamentals and technical signs, the peso is poised for further appreciation. Tetangco was recently named as the replacement for…
Zimbabwe's Gono on unorthodox challenges
In an interview published on Thursday March 10, Reserve Bank of Zimbabwe Governor Dr Gideon Gono said the country is going through a turnaround that demands unorthodox ways of dealing with unorthodox challenges. The job is not one of making friends with…
Election to Danmarks Nationalbank's Board
Denmark's Folketinget (Parliament) has elected Mr Svend Erik Hovmand to the Board of Directors of Danmarks Nationalbank until 31 March 2006.
Bini Smaghi formally proposed to ECB board
Eurozone finance ministers on Tuesday 8 March formally proposed Lorenzo Bini Smaghi, a senior Italian economics official, as the next member of the European Central Bank's executive board.
Issing: ECB will act on money supply if necessary
European Central Bank chief economist Otmar Issing said in an interview that high liquidity in the eurozone has not yet proved a sufficient reason for the ECB to raise interest rates, but it will act if money supply growth starts to fuel inflation.
Report says share of China's dollar reserves fell
Investment bank Lehman Brothers said in a report this week that China reduced the share of its foreign reserves held in US dollar assets last year.
EU's Almunia says Slovakia on track to adopt euro
EU Monetary Affairs Commissioner Joaquin Almunia said Thursday on a one-day visit to Slovakia that it was on target to meet its aim of adopting the euro single currency in 2009.
India discussing foreign reserve diversification
Reserve Bank of India governor Yaga Venugopal Reddy told reporters on Friday that diversification of the central bank's reserves was being discussed.
Liebscher warns on stability pact reform
Plans to reform the European Union stability and growth pact could lead to a loss of confidence in the euro, the governor of the Austrian central bank said Friday.
Koizumi: Japan must consider diversifying reserves
Japanese Prime Minister Junichiro Koizumi said on Thursday 11 March that his country "in general" needs to consider diversifying its foreign currency reserves, the world's largest.
Garganas calls for sharp fall in deficit and debt
Bank of Greece Governor Nicholas Garganas told a parliamentary committee on Wednesday 9 March that Greece's economy does not face a crisis, but the government must try to lower budget deficits and public debt even sooner than mandated by the European…
RBI plans to restructure divisions
According to a report on Thursday 10 March the Reserve Bank of India is restructuring itself in order to streamline operations. Banking sources were quoted as saying the RBI is in the process of moving divisions into separate units.
Fed's Moskow says rates have room to rise
Chicago Fed President Michael Moskow said on Wednesday the Federal Reserve can continue raising interest rates at a measured pace, but with less slack in the U.S. economy, it must be vigilant on inflation.
ECB's Mersch against pact dilution
European Central Bank council member Yves Mersch has criticised larger European governments for trying to relax the budget-deficit rules underpinning the euro.
Russia reports record gold reserves
The Central Bank of Russia has announced that gold or hard currency reserves soared 7.7 per cent to a record $134.15 billion in January-February 2005.