News
Veteran appointed to Ukraine's central bank
Volodymyr Stelmakh, who headed Ukraine's Central Bank between 2000 and 2002, secured overwhelming approval from parliament on Thursday 16 December to return as the bank's new chairman.
White House may pick Bernanke for advisers' panel
The White House is considering appointing Federal Reserve Board member Ben S. Bernanke to be chairman of the president's Council of Economic Advisers, officials confirmed on Thursday 16 December according to the Washington Post.
Greenspan will not replace Snow at US Treasury
Reports this week said Alan Greenspan will not be the one to head the US Treasury after John Snow leaves. An approach to the Fed chairman was made at arm's length but has been declined by senior Republicans.
Bank of Canada appoints deputy governor
The Board of Directors of the Bank of Canada announced on Friday 17 december the appointment of Tiff Macklem as Deputy Governor of the Bank and a member of the Bank's Governing Council, effective from 29 December.
Germans long for DM return
Six years after the introduction of the euro, more than half of all Germans want a return to the days of the national Deutschemark, a report published this week said.
Dutch central bank raises 2004 growth outlook
The Dutch central bank has raised its forecast for economic growth this year to 1.2 pct, while cutting the forecast for 2005 to 1.7 pct, the bank said in its latest quarterly report.
Bank of Japan downgrades economic assessment
The Bank of Japan downgraded its assessment of the country's sluggish economy on Friday in its latest monthly report, while the central bank's governor said steel shortages were compounding the economic slowdown.
Federal Reserve to release minutes earlier
The Federal Reserve said this week that it would begin releasing minutes from its FOMC interest rate meetings about a month earlier than it has been.
BIS to administer EMEAP's investments in ABF2
The EMEAP (Executives' Meeting of East Asia and Pacific Central Banks) Group, comprising 11 central banks and monetary authorities in the East Asia and Pacific region,1 announced on Thursday 16 December the launch of ABF2, the second stage of the Asian…
EMEAP central banks announce launch of the ABF2
The EMEAP (Executives' Meeting of East Asia and Pacific Central Banks) Group comprising 11 central banks and monetary authorities in the East Asia and Pacific region announced the launch of the second stage of the Asian Bond Fund (ABF2) on Thursday 16…
Sweden's Bergstrom on causes of unemployment
Sveriges Riksbank Deputy Governor Villy Bergstrom spoke at a seminar on economics in Stockholm on Wednesday 15 December. He said there is no long-term stable connection between inflation and unemployment. Instead, structural measures are required to…
Deficit cuts vital for U.S. economy says Snow
US Treasury Secretary John Snow said on Wednesday 15 December that cutting the twin deficits, blamed for weakening the dollar, would be a top priority in president Bush's second term.
Qatar to launch Payment Gateway early next year
Qatar's Central Bank (QCB) has said is will launch its Payment Gateway in early 2005 which will boost and ease e-commerce and e-transactions in Qatar.
French fin min hints over ECB intervention
The newly appointed French finance minister, Herve Gaymard, warned in an interview that the US dollar's weakness is "very worrying" and suggested possible intervention by the European Central Bank.
Fed raises rates, says economic outlook unchanged
The Federal Open Market Committee decided on Tuesday 14 December to raise its target for the federal funds rate by 25 basis points to 2-1/4 percent. In its press release the FOMC signalled there had been no change in its assessment of current economic…
Norges Bank keeps interest rate unchanged at 1.75%
Norges Bank's Executive Board decided on Wednesday 15 December to leave interest rates unchanged at 1.75 per cent. The Executive Board said in a press release it did not see any clear alternatives to leaving the interest rate unchanged.
IMF's Rajan says US dollar fall is a wake-up call
International Monetary Fund research department director and economic counsellor Raghuram Rajan told the Australasian Finance and Banking Conference in Sydney that the depreciating US dollar is a wake-up call and urged policymakers to pay attention to…
China seeing gold-buying surge as dollar hedge
China is seeing a gold-buying surge as a hedge against the weakening dollar and negative real interest rates, the South China Morning Post reported, citing figures from the China Gold Society and analysts.
Poll shows Sweden still opposed to euro
Opposition to the euro in Sweden remains strong 15 months after voters rejected the single currency in a referendum, but the number of opponents has fallen, a poll published on Wednesday 15 December by Statistics Sweden showed.
Portugal's central bank warns over 2005 deficit
The governor of the Bank of Portugal, Vitor Constancio, said Monday that Portugal's fiscal deficit was on target to reach 5 percent of output next year, breaching European Union rules, without exceptional revenues.
Korean won climbs on central bank comments
South Korea's won had its biggest gain in more than two weeks Tuesday after the Bank of Korea signaled it won't sell the currency to protect exporters, prompting them to speed up the conversion of their overseas earnings.
Fed likely to raise rates a quarter-point
Federal Reserve policy-makers were widely expected to raise target for the federal funds rate to 2.25 percent from 2 percent on Tuesday, their last regularly scheduled session of 2004.
Mersch says ECB ready to act on inflation
European Central Bank council member Yves Mersch said the bank would act if inflation expectations in the eurozone rise further after record oil costs raised prices this year.
EU may clear France, Germany on deficit rule break
The Associated Press reported Tuesday that the European Union's executive office was expected to end an three-year battle with France and Germany on Tuesday, dropping EU procedures against them after the two pledged to get their budget deficits back…