News
SARB to issue upgraded banknotes in the new year
The South African Reserve Bank (SARB) announced on Monday 13 December that it plans to issue upgraded banknotes with improved security features from 1 February 2005.
BoJs Fukui says economic growth slowdown temporary
Bank of Japan governor Toshihiko Fukui said in a speech on Monday 13 December that the growth of the economy is slowing down, but only temporarily.
Dallas Fed FOMC vote may go to Atlanta
The Dallas Federal Reserve said on Friday 10 December that the Atlanta Fed would temporarily take its vote next year on the US central bank's interest rate setting committee until it finds a replacement for departed President Robert McTeer.
French PM concerned on dollar weakness
French Prime Minister Jean-Pierre Raffarin voiced concern about the euro's surge to record highs against the dollar, but didn't comment on whether he thought the European Central Bank should intervene.
Bank of Korea says won's rise 'too fast'
The pace of the won's recent rise against the US dollar has been too fast, compared to other currencies, said Bank of Korea assistant governor Rhee Yeung-Kyun.
Bank of Spain completes branch restructuring
Spain's central bank has completed its branch restructuring program and will close 10 branches in a number of Spanish cities, reducing its total number of branches to 22.
Change in the members of the Bank Board of the NBS
A change in the membership of the Bank Board of the National Bank of Slovakia has become effective from 1 December. The four-year term of Professor Jozef Kosnar came to an end on 30 November. The NBS said in a press release he would be succeeded by…
New York Fed names new director of research
Joseph S. Tracy was named executive vice president and director of research of the Federal Reserve Bank of New York on Monday 6 December.
Interview with ECB's Issing
In an interview with Slovenian daily newspaper Delo published this week, European Central Bank chief economist Prof. Otmar Issing said the US twin current account and budget deficits are unsustainable and the US is well aware of this. He reiterated ECB…
Interview with ECB's Gonzalez-Paramo
Jose Manuel Gonzalez-Paramo, member of the Executive Board of the European Central Bank, gave an interview this week to Il Sole 24 Ore. In the interview he said the Greek case [where the deficit has clearly been larger than that reported] speaks for…
Philadelphia Fed announces promotion
The Federal Reserve Bank of Philadelphia announced the promotion of John D. Ackley to Treasury Services Officer on Wednesday. Ackley was a manager in the Treasury Services Department.
Election to the Danmarks Nationalbank Board
The Board of Directors of Danmarks Nationalbank has elected Mr Niels Due Jensen, Group Chairman, to the Board of Directors of Danmarks Nationalbank, replacing Mr Bent le Fevre, General Manager, for the remainder of the term ending on 31 March 2009.
Korea's fin min criticised for meddling in BOK
South Korea could face another financial crisis if the Finance Ministry continues to intervene in the country's interest rate policy and management of foreign reserves, a member of the central bank's policy committee warned on Friday 10 December.
Armenian president urges central bank to act
Armenian President Robert Kocharyan has called on the central bank to act "decisively and quickly" to prevent speculation in Armenia's financial market caused by fluctuations in the rate of the dollar against the national currency.
SAFE spokesman says China central bank 'sound'
The People's Bank of China is "in sound financial condition," as a result of its strategies and achievements in managing the country's foreign exchange reserves, according to a spokesman for China's State Administration of Foreign Exchange (SAFE) on…
Gonzalez-Paramo: 'strong need' for price vigilance
Jose Gonzalez-Paramo, one of the European Central Bank's governors, said on Friday 10 December that in view of the recent surge in oil prices there is a "strong need for vigilance" over medium-term price risks.
Slovakia appoints new central bank governor
The Slovak parliament approved a new central bank governor Friday 10 December, confirming the government's nominee, Ivan Sramko, to the post.
Brazil's Senate approves central bank immunity law
Brazil's Senate has approved a law that gives central bank president Henrique Meirelles Cabinet-level status, giving him immunity from prosecution for crimes in all courts except the country's highest.
Hungary to publish Monetary Council minutes
On Monday 6 December the Monetary Council of the National Bank of Hungary decided, after a six month trial, to publish abridged minutes of its regular rate-setting meetings in future. This summary presents the arguments and experiences supporting the…
Sweden leaves repo rate unchanged at 2 per cent
At its meeting on Wednesday, 8 December, the Executive Board of the Sveriges Riksbank decided to leave the repo rate unchanged at 2 per cent.
ECB Monthly Bulletin, December 2004
The European Central Bank published its December 2004 Monthly Bulletin on Thursday 9 December, saying the outlook for inflation in the eurozone is "worrisome" after a 33 percent appreciation in the price of oil over the past year.
World Bank says Chinese economy not over-heating
Chief of the economics unit of the World Bank's Beijing office, Bert Hofman denied that the Chinese economy is overheating, saying that he expects 9.2 per cent to 9.3 per cent growth for China, "which is by and large a good thing."
Fed report: Banks and lenders can solicit business
The Federal Reserve said in a report published on Wednesday 8 December that consumers would suffer and pay higher prices if Congress curtailed the ability of banks and lenders to send them solicitations.
Taiwan central bank to establish TIBOR system
As part of its efforts to develop Taiwan into a regional financial centre, the Central Bank of China will move to revitalize the trading of various terms of interbank loans and establish Taipei Interbank Offered Rate (TIBOR), China Economic News Service…