News
Fukui confident on China slowdown
Toshihiko Fukui, Governor of Bank of Japan expressed confidence about the prospects of both a soft landing of China's economy and the fast growth of the US economy.
South Korea's reserves hit new high
South Korea's foreign reserves rose to a new high in mid-November, helped by an increase in the dollar-conversion value of non-dollar assets, the Bank of Korea said Wednesday.
Greek deficits were under-reported
An investigation by Eurostat concluded on Monday 15 November that Greece had broken the three per cent of GDP deficit ceiling for membership of the Euro every year since 1997.
France's Noyer sees oil prices as main threat
The Governor of the Banque de France, Christian Noyer, identified high oil prices as the most significant threat to French growth, in an interview with French newspaper Les Echos.
IMF's Rato on Russian inflation threat
IMF Managing Director Rodrigo Rato warned Russian policymakers to focus on controlling inflation rather than stimulating growth, when he arrived on a visit to Moscow on Tuesday 16 November.
EU finance ministers voice concerns
Eurozone finance ministers, meeting in Brussels on Monday night, 16 November, avoided pressuring the ECB over interest rates or intervention to stabilize the euro, but did voice their concerns over the euro's strength against the dollar
CDO rating methodology
New research paper from the Bank for International Settlements examines different methods of rating collateralised debt obligations (CDOs).
Brazil's central bank takes over Banco Santos
Brazil's central bank took over operations of Banco Santos on Friday evening, in response to the bank's weak financial situation and its failure to meet deposit requirements.
China's Zhou on prospects for a soft landing
The governor of the People's Bank of China claims that China's economy is on course to avoid a hard landing, and that measures taken by the central bank to cool the economy are working.
Won and Yen rise with no intervention expected
The Korean and Japanese currencies rose against the dollar on Monday, amid speculation that authorities would refrain from aggressive intervention this time.
Cuba introduces tax on exchanging dollars
Cuba has introduced a 10% tax on the exchange of dollars, following restrictions introduced last week which outlawed the use of dollars in domestic transactions.
RBA appoints head of economic research
The Reserve Bank of Australia announced on Monday 8 November the appointment of Dr Christopher Kent to the position of Head of Economic Research.
ECB mourns death of Eugenio Domingo Solans
Former member of the Executive Board of the European Central Bank Eugenio Domingo Solans died earlier this week after a long illness. In a message from the President on behalf of the ECB, Jean-Claude Trichet said the ECB was mourning a very dear…
BIS appoints Peter Dittus as Secretary General
The Board of Directors of the Bank for International Settlements (BIS) announced on Monday 8 November the appointment of Peter Dittus as Secretary General for a five-year term.
Wellink to continue as Chairman and BIS President
The Board of Directors of the Bank for International Settlements (BIS) announced on Monday 8 November the re-election of Nout Wellink, President of the Netherlands Bank, for a second three-year term as Chairman of the Board and President of the BIS.
Bumpy road seen for next Fed chief
Newly re-elected George W. Bush is likely to pick from five "qualified" successors to fill Federal Reserve chairman Alan Greenspan's shoes, this article says, with the real issue being their ability to match chairman Greenspan's deft touch in the conduct…
Korea cuts interest rates to record low
The Bank of Korea unexpectedly cut interest rates to a record low of 3.25 per cent on Thursday 11 November, moving its policy focus to growth from inflation.
Report says Taiwan concerned on hot money
Taiwan's central bank has indicated concerns over hot money inflows to Asia and the impact of an appreciation of currencies in the region, the Economic Daily News reported.
Gonzalez-Paramo says ex rate volatility excessive
Jose Gonzalez-Paramo, a member of the European Central Bank's governing council, said the ECB sees the volatility of the euro/dollar exchange rate as "excessive" after the euro broke the psychologically important 1.3 dollar threshold.
EU, ECB hail Japan's progress on bad loans
The European Union and the European Central Bank on Thursday 11 November celebrated the progress made by Japan's banking sector in reducing its bad loans, which have conspired to keep Japan in an economic downturn following the early 1990s asset price…
Electrician short circuits NY Fed computers
An electrician who was fired after he was caught using a home made electrical testing device on the computer circuit breakers at the Federal Reserve Bank of New York then took the NY Fed to court claiming his sacking was a set up.
Changes to New Zealand's `silver' coins?
The Reserve Bank of New Zealand announced on 11 November details of proposals to modernise New Zealand's `silver' coloured coins. The Reserve Bank emphasised that no decisions have been made, and is now seeking feedback from the public.
Federal Reserve raises rates to 2%
The Federal Open Market Committee decided on Wednesday 10 November to raise its target for the federal funds rate by 25 basis points to 2 per cent. The FOMC said "Output appears to be growing at a moderate pace despite the rise in energy prices, and…
IMF's Rato to make first visit to Moscow
IMF director general Rodrigo Rato is set to visit Moscow November 16-18 on his first trip there since taking the helm of the Fund in June, his spokesman said.