News
Rate hikes can be measured, says Dallas Fed chief
Dallas Federal Reserve President Robert McTeer said on Friday 10 September that he believed further interest rate increases could be measured and noted that economic growth would be stronger in the months ahead.
IMF's Krueger to visit Moscow
The International Monetary Fund's First Deputy Managing Director Anne Krueger will be visiting Moscow September 12- 15, IMF External Relations Department Director Thomas Dawson announced in Washington on Thursday 9 September.
ECB chief economist says Pact losing its bite
The European Central Bank's chief economist has described the current status of the eurozone's Stability and Growth Pact as 'intolerable'. Otmar Issing told the German newspaper Die Welt that without a credible threat of sanctions, the pact was 'losing…
Weak EU growth threat to recovery: UK's Brown
Weak economic growth in the European Union is threatening the "uneven and fragile" global recovery, British Treasury chief Gordon Brown said in comments published on Friday 10 September.
Global recovery on track, say G10 central bankers
The global economic recovery is on track but monetary authorities have to remain vigilant against inflationary dangers, the G10 central bank governors said on Monday 13 Septemberin Basel, Switzerland.
Argentine protesters at IMF storm cb building
About 400 protesters waving banners marched into the main entrance of the central bank of Argentina in Buenos Aires last week, calling for President Nestor Kirchner to end relations with the International Monetary Fund.
Elections to Danmarks Nationalbank Board
The Danish Parliament has elected Ms Rikke Hvilshj, MP, and Ms Pia Christmas-Mller, MP, to the Board of Directors of Danmarks Nationalbank for a term ending on 31 March 2006.
Bank of Israel staff to get medals
The Bank of Israel is to spend NIS 320,000 on medals to be awarded to all members of staff in commemoration of the central bank's Jubilee year, Haaretz reported. However, a planned celebration for staff and retired workers was cancelled, the report said.
Former RBA chief criticises PM on rates
Former Reserve Bank of Australia governor Bernie Fraser said in an interview he expects interest rates to rise straight after the election, partly because of what he sees as the lax budgetary policies of the Howard government.
Financial Stability Forum hold its twelfth meeting
The Financial Stability Forum (FSF), chaired by Roger Ferguson, Vice Chairman of the Federal Reserve, met on 8-9 September in Washington DC. Members discussed risks and vulnerabilities in the international financial system and offshore financial centres…
Juncker confirmed as Mr Euro
Luxembourg Prime Minister Jean-Claude Juncker was named on Friday 10 September as the first "Mr Euro", a political figurehead to represent the 12-nation eurozone.
Eichel raps Bundesbank over stability pact
German Finance Minister Hans Eichel rapped the Bundesbank on Friday 10 September for its recent criticism of the EU's proposed changes to the stability and growth pact in a press release titled "Do not weaken the Stability and Growth Pact".
Robust expansion ahead: Minneapolis Fed's Stern
Federal Reserve Bank of Minneapolis president Gary Stern said Thursday that the US economy is likely to grow at a rate of 4 percent for the remainder of this year.
Fed's Guynn says price pressures won't be ignored
U.S. inflation has "stayed in a relatively narrow band" but the Fed will not take its eye off the ball, President of the Federal Reserve Bank of Atlanta Jack Guynn said in an interview with Bloomberg News published on Thursday 9 September.
NBP's Balcerowicz says budget efforts not enough
Polish Central Bank Governor Leszek Balcerowicz said efforts to narrow the budget deficit next year won't be enough to help the country qualify for the euro by 2007.
Belgium may scrap euro cent coins
Belgium is to stop producing one- and two euro cent coins, following in the footsteps of eurozone partners Finland and the Netherlands, AFP reported Finance Minister Didier Reynders as saying.
RBNZ increases OCR to 6.25 per cent
The Reserve Bank of New Zealand has increased the Official Cash Rate from 6.00 per cent to 6.25 per cent. The RBNZ said that further tightening of monetary policy is likely to be required.
Bundesbank statement on EC proposals
Responding on Tuesday 7 September to the European Commission's proposals for reform of the Stability and Growth Pact, the Bundesbank said it believed that instead of strengthening the Pact, the proposed changes would have a "generally detrimental" effect…
Reform of card payment systems in Australia
Following a decision by the Payments System Board, the Reserve Bank of Australia on Thursday 9 September designated the EFTPOS debit card payment system in Australia as a payment system under the Payment Systems (Regulation) Act 1998.
ECB Monthly Bulletin, September 2004
The European Central Bank published its September 2004 Monthly Bulletin on Thursday 9 September, saying that "strong vigilance" is needed to ensure that inflation slows below 2 percent next year as an economic recovery in the eurozone strengthens and oil…
Japan reports economy improving
Japan's economic recovery is "solid" but export growth is losing some steam, the government said in a monthly report released on Thursday 9 September. The Bank of Japan also released its latest monthly report Thursday which said the economy is on the…
Korean banknote redenomination 'not urgent'
Bank of Korea Governor Park Seung said on Thursday 9 September that changing the denominations or issuing higher-value banknotes is not an urgent issue. Currently, the largest denomination is a 10,000 won note, which is worth less than $10.
Slovenia targets inflation to adopt euro in 2007
Slovenia hopes to reduce annual inflation in 2005 to less than three per cent, clearing the way for the former Yugoslav state to enter the eurozone by the beginning of 2007, central bank governor Mitja Gaspari told a meeting of business leaders.
Kyrgyzstan and Russia sign cooperation agreement
The National Bank of Kyrgyzstan and Central Banks of Russia have signed a cooperation agreement with the intention to establish dialogue on issues of banking regulation, and exchange information on the condition and development of the banking sector.