News
Euro or euras?
Algirdas Brazauskas, the Lithuanian prime minister, has criticised the EU's demand that the single currency be called the euro, not the euras, as it is known in Vilnius.
Almunia says ECB views on pact 'important'
EU economic and monetary affairs commissioner Joaquin Almunia told the European Parliament the European Central Bank's views on plans to reform the stability and growth pact are "very important", but ultimately it is member states who will vote on the…
ECB press conference with questions and answers
At the ECB's press conference on Thursday 7 October, following its decision to leave eurozone interest rates unchanged, Jean-Claude Trichet said the ECB's Governing Council is convinced that substantial improvements in the implementation of the Stability…
Fed's 'measured pace' may be faster or slower
Federal Reserve Bank of St. Louis President William Poole said on Wednesday 6 October that statements from the central bank were not "ironclad" undertakings of future action and objectives change as the economy evolves.
RBI chief Reddy sees oil price as concern
The Reserve Bank of India Governor YV Reddy said on Thursday 7 October that the sharp rise in global oil prices was a matter of concern but India was well equipped to handle the situation due to sufficient forex reserves.
BOK governor warns on asset price bubble
Bank of Korea (BOK) Governor Park Seung said on Thursday 7 October that further interest rate reductions could lead to an asset price bubble and that current rates were sufficient to support investment and production activities of businesses.
Cleveland Fed chief sees sustainable expansion
Cleveland Federal Reserve President Sandra Pianalto told a business conference on Thursday 7 October that the U.S. economy appears to be in a self-sustaining expansion, with both inflation and inflation expectations low.
New York Fed's Central Banking Seminar
The Federal Reserve Bank of New York will hold its annual Central Banking Seminar from 18-29 October. Speakers at the seminar include prominent commercial and investment bankers, experts from the financial community, distinguished faculty from major…
HKMA calls for safety deposit box inquiry
The Hong Kong Monetary Authority (HKMA) announced on Wednesday 6 October that it has required DBS Bank (Hong Kong) Ltd to carry out a thorough investigation into the recent destruction of rented safe deposit boxes at its Mei Foo branch.
Bernanke says US economy can absorb oil prices
Federal Reserve Board Governor Ben Bernanke said on Monday 4 October that despite the sharp rise in world oil prices the US economy should be able to withstand the impact as long as they don't rise much further.
US economy back on track says Fed's McTeer
Dallas Federal Reserve Bank President Robert McTeer said on Tuesday 5 October that the inflation scare is over with and the US economy is back on track from its soft patch.
Brazil's upswing due to rate policy says Meirelles
Brazil's central bank President Henrique Meirelles told a press conference in New York that the recovery from last year's recession is a result of budget and interest rate policies rather than the increase in exports.
Suda says Japan's economy to exceed potential
Japan's economy will expand faster than its potential and inflation will probably not rise for the time being, said Miyako Suda, a Bank of Japan policy board member.
IMF says BOJ should continue easing policy
The Bank of Japan should maintain its current easy monetary policy until deflation is reined in, a senior official of the International Monetary Fund said on Monday 4 October.
Fukui supports China involvement at G7 talks
Bank of Japan Governor Toshihiko Fukui said on Sunday 3 October that he supports China's future participation at the financial meetings of the G7 leading industrialised countries.
George says France, Germany right to flout pact
Lord George, the former Bank of England governor, has hit out at the European Central Bank in an interview to be published this week, saying that its recent actions are damaging confidence in the eurozone's monetary policy.
Oil to affect growth not inflation says Eichel
German Finance Minister Hans Eichel said the increase in oil prices will have a stronger effect on economic growth in Germany than on the country's inflation rate.
Greenspan says risk management benefits the US
Federal Reserve Chairman Alan Greenspan said in a speech on Tuesday 5 October that better management of banking risk and new rules on capital could strengthen the banking system and contribute more to economic growth.
Riksbank issues coins to mark Palace anniversary
The Sveriges Riksbank is issuing two commemorative coins on the occasion of the 250th anniversary of the Royal Palace in Stockholm; a 200-krona coin in silver and a 2,000-krona coin in gold.
Communique' of the Ministers and Governors of G10
The Finance Ministers and Central Bank Governors of the countries of the Group of Ten met in Washington, D.C. on 3 October. John Snow, Secretary of the Treasury of the United States and current Chairman of the Group of Ten, presided.
BOJ to maintain easy money policy, Fukui says
Bank of Japan Governor Toshihiko Fukui told G7 finance ministers and central bankers that Japan's potential economic growth is increasing and the bank will keep easing monetary policy to overcome deflation.
Iraq cb chief says debt relief needed to tap oil
Iraq's central bank chief said on Sunday 3 October that the country cannot fully exploit its huge oil reserves without "huge" debt relief.
PBOC dep gov sees move on yuan
On Sunday 3 October, People's Bank of China deputy governor Li Ruogu spoke about the development on the Chinese economy, stressing the U.S. efforts for yuan convertibility.
France's Noyer calls for budget discipline
Addressing officials at the annual International Monetary Fund/World Bank autumn meeting, Bank of France Governor Christian Noyer said the world economy had returned to a growth path and urged countries to tighten their public finances.