News
Yemen holds course on money laundering
The Central Bank of Yemen held a training course on 30 January, on combating money laundering, using electronic banking processes, and investment funds.
China rejects US threat on yuan
A threatened US bill which would give China six months to revalue its exchange rate before facing sanctions was criticised by the Foreign Ministry as the wrong way to handle the situation.
Bank of Mexico sets minimum loan rate
The central bank of Mexico has set a minimum overnight rate to banks for the first time since 1998, suggesting it may adopt an interest-rate targeting system similar to the Fed.
Norges Bank keeps interest rate unchanged at 1.75%
At its monetary policy meeting on 2 February, Norges Bank's Executive Board decided to leave the sight deposit rate unchanged at 1.75 per cent. The Executive Board said it did not see any clear alternatives to leaving the interest rate unchanged.
G7 wants to reuse old forex language says Taylor
John Taylor, US Treasury undersecretary for international affairs, has said that the G7 finance ministers and central bank governors want to stick to the script on foreign exchange developments that was first used at a meeting in Boca Raton in February…
Germany expects few ex rate developments at G7
The German government does not expect any significant developments on exchange rate policies at the upcoming Group of Seven (G7) meeting of industrialised nations, AFX quoted sources as saying.
Fed expected to raise rates on 2 Feb
Federal Reserve policymakers were widely expected to agree on a quarter-point increase in interest rates on Wednesday 2 February. The Federal Open Market Committee was expected to issue a statement at the conclusion of the session at about 2015GMT.
BB to introduce automated cheque clearing system
The Bangladesh Bank (BB) is introducing an automated cheque clearing system in its clearing house to quicken the process and boost transactions in commercial banks.
Bank of Japan bill auction fails
The FT reported on Wednesday 2 February that the Bank of Japan failed to attract enough offers in a bill-buying operation for the first time in nearly two and a half years.
Japan sees G7 currency stance staying unchanged
There is likely to be be no call for a change in global foreign exchange rates, a senior Japanese finance ministry official said on Tuesday 1 February.
POBC sees gradual move to market interest rates
The People's Bank of China said on Tuesday 1 February thatit will proceed with establishing a market-oriented interest rate regime in a series of gradual moves timed to ensure the viability of the commercial banks.
South Africa urged to avoid rand intervention
A senior World Bank economist on Monday 31 January praised the South African Reserve Bank's strategy of cautiously accumulating foreign reserves and said a deliberate weakening of the rand could have negative consequences for the economy.
Nigeria may move from dollar reserves
The Central Bank of Nigeria may consider reducing Nigeria's exposure to the United States dollar by moving the country's reserve towards the pound sterling and euro as a result of the continuing decline in the value of the dollars, a press report in…
BSP chief says economy still fragile
Although the peso and share prices have soared to new highs, Governor Rafael Buenaventura of the Bangko Sentral ng Pilipinas (BSP) said the government still has a lot of work to do to put the economy on a firm footing.
The Greenspan succession
In an article published this week Paul Krugman says the Bush administration will have a hard time finding a successor to Alan Greenspan, who is expected to retire next year. Feldstein and Hubbard are mentioned, but Krugman warns that appointing a "yes…
Interview with San Francisco Fed's Janet Yellen
Federal Reserve Bank of San Francisco president Janet Yellen gave an interview this week in which she expressed optimism about the US economy. The world economy looks on track for moderate growth and China has been trying to moderate its growth with the…
Interview with Trinidad & Tobago's deputy governor
Amoy Chang Fong, deputy governor of the Central Bank of Trinidad and Tobago, is due to retire at the end of January after 36 years at the bank. In an interview published this week she said the position of the central bank "at the heart of the economy"…
Hans Genberg appointed Executive Director at HKMA
The Hong Kong Monetary Authority announced on Monday 24 January the appointment of Hans Genberg as Executive Director in charge of research with effect from 7 February.
Interview with ECB's Gonzalez-Paramo
In an interview published on Thursday 27 January, ECB Executive Board member Jose Manuel Gonzalez-Paramo describes working at the ECB as the pinnacle of a career devoted largely to central banking, after a decade spent working within the governing bodies…
Somalia's central bank chief gets second term
Dr Mohamud Mohamed Ulusow has been re-appointed as governor of the Central Bank of Somalia for the second time.
Greenspan and King to receive Scottish honour
The University of Edinburgh will present Alan Greenspan and Mervyn King with honorary degrees at a graduation ceremony on 7 February.
Bank of Italy faces strike threat
Unions have threatened to call a series of strikes between mid February and mid March, to protest against the Bank of Italy's executives' decision to amend the agreements reached with the unions.
Italy nominates candidate for ECB board
Italy nominated Lorenzo Bini Smaghi, a senior finance official in Rome, as candidate for the European Central Bank's executive board this week.