News
ECOWAS changes launch date for Eco
The governor of the Central Bank of Nigeria, Professor Charles Soludo, said on Wednesday 8 September that the launch date of ECO, the proposed West African common currency, would be extended beyond 1 July, 2005.
Bank of Canada raises interest rates 0.25%
The Bank of Canada announced on Wednesday 8 September that it would raise its key overnight interest rate by one-quarter of a percentage point to 2.25 per cent, a move widely expected by financial markets. In a press release the bank said with the…
Greenspan says US economy regaining some traction
In testimony to the U.S. House of Representatives on Wednesday 8 September, Federal Reserve Chairman Alan Greenspan said the economy has "regained some traction" following a late spring slowdown that was instigated by a sharp rise in oil prices.
Regulatory agencies warn on internet 'phishing'
The Federal bank, thrift and credit union agencies on Wednesday 8 September announced the publication of a brochure with information to help consumers identify and combat a new type of Internet scam known as "phishing."
Dallas Fed's McTeer confident on US economy
The dip in the U.S. economy in the second quarter was due largely to higher oil prices and the country has now moved on, Federal Reserve Bank of Dallas President Robert McTeer said on Tuesday 7 September.
NZ's Cullen apologises for interest rate 'slip'
Finance Minister Michael Cullen has apologised after saying that the Reserve Bank of New Zealand had raised its key interest rate "today" - the RBNZ is due to meet on Thursday 9 September to decide monetary policy.
PBOC's Zhou says rates on hold for now
The People's Bank of China will not consider changing the interest rates until August's statistics are released, according to PBOC Governor Zhou Xiaochuan.
Minutes from the Sveriges Riksbank Meeting, 19 Aug
Minutes of the Sveriges Riksbank Executive Board meeting on 19 August were published 2 September. One member observed that economic activity in Sweden had strengthened slightly more than expected during the first six months of the year, and that the…
Almunia not expecting ECB objection to Pact change
EU economic and monetary affairs commissioner Joaquin Almunia has said the European Central Bank is not expected to oppose possible changes to the stability and growth pact.
EU budget plans would hurt ECB policy, says Buba
The Bundesbank said that the European Commission's intention to relax budget rules would damage the European Central Bank's ability to set interest rates in the eurozone, according to Bloomberg, which quoted an email.
France's Raffarin sees 2.5 % GDP growth in 2004
French Prime Minister Jean-Pierre Raffarin said he expects GDP growth of 2.5 per cent in 2004 and said that economic growth is sustainable.
IMF says flexible exchange rate best measure
The International Monetary Fund (IMF) has identified the free-floating exchange rate regime as the best measure against economic shock, according to a new study.
China plans gold futures trading
China aims to start gold futures trading in the near term, a move meant to add to the country's limited investment options amid soaring demand for the precious metal, state press reported on Tuesday 7 September.
Fed Reserve Bank of St Louis Review, Sep/Oct 2004
The latest edition of the St Louis Fed's Review for September-October 2004 includes the articles "Trends in the efficiency of Federal Reserve check processing operations" and "Testing the expectations hypothesis: Some new evidence for Japan" and …
US bank note experts to visit Taiwan
The Central Bank of China (CBC) has invited experts from the United States to help domestic banks dealing in foreign currency exchange to detect forged U.S. bills, CBC officials said on Monday 6 September.
Too soon to evaluate long term rate falls,Takenaka
Japanese Economic and Fiscal Policy Minister Heizo Takenaka said it is too soon to form any opinions about the meaning of the recent decline in long-term domestic interest rates.
World Bank sees oil price affecting growth
High oil prices threaten to slow the world economic growth rate by up to 0.2 percent, World Bank chief economist Francois Bourguignon has said.
ASEAN must be open to global economy: Megawati
Indonesian President Megawati Soekarnoputri said in Jakarta on Friday 3 September that the Association of Southeast Asian Nations (ASEAN) must remain open to the global economy.
West African central bank to withdraw CFA notes
The Central Bank of West African States said it was to withdraw all CFA franc banknotes from circulation by the end of the year, in what a report said Saturday was an attempt to crack down on "dirty" money from bank robberies.
IMF's Rato to visit South Africa and Burkina Faso
Rodrigo de Rato, Managing Director of the International Monetary Fund, will travel to Johannesburg and Pretoria, South Africa on September 6-7, and Ouagadougou, Burkina Faso, September 8-9. This is Mr. de Rato's second trip to Africa since becoming…
BOJ increases share buying in late August
The Bank of Japan reported on Thursday 2 September that it had purchased a cumulative 1.988 trillion yen ($18.2 bn) of shares by August 31, a slight increase from the 1.985 trillion it had held by August 20.
EU set to relax eurozone budget rules
The European Union was set to propose loosening its much-criticised budget rules supporting the euro on Friday 3 September, by allowing countries with economic troubles to be exempt from the uniform standard for deficits in favour of country specific…
Romania cb prepares for cap account liberalisation
The National Bank of Romania (BNR) is preparing to fully free the capital account by cutting the interest rates to the national currency leu deposits, the Capital weekly reported in its latest issue.
China appoint Yu Yongding to monetary policy board
The People's Bank of China has formally announced the appointment of Yu Yongding to its monetary policy committee to replace Li Yang as the only financial expert on the 13-member board, XFN-Asia reported.