News
Bank of Japan maintains optimistic assessment
The Bank of Japan maintained its cautiously optimistic assessment of the economy in its latest monthly report, despite robust GDP data announced earlier in the week.
Study suggests fx volatility may not hurt trade
Rapid changes in exchange rates do not appear to have a "robustly negative" impact on trade flows, a team of International Monetary Fund analysts said in a report released on Wednesday 19 May.
Beijing forum on banking and finance opens
four hundred bankers from China and overseas, financial institution representatives and banking supervisors gathered in Beijing on Wednesday 19 May to discuss China's banking and financing issues at a high-profile forum.
IMF urge relaxing of yuan peg to ease bad loans
The International Monetary Fund (IMF) has advised China to relax the yuan's dollar peg to help rein in excessive credit growth that threatens to cause a build-up of bad loans in the banking system.
Bank of England MPC Minutes 5/6 May 04
Minutes of the Bank of England's Monetary Policy Committee Meeting were released on 19 May for the meeting of 5 and 6 May 2004. The minutes showed the MPC voted unanimously in favour of raising interest rates to 4.25% but also considered a half-point…
Santomero: Fed must be alert to inflation signs
Philadelphia Federal Reserve President Anthony Santomero said on Tuesday 18 May that the central bank must be mindful of further signs of inflation pressures, but can generally expect to raise rates at a "measured pace," as last stated by the FOMC.
Ethics adviser clears Bundesbank board
The Bundesbank's recently appointed ethics advisor said on Tuesday 18 May that there was no evidence that other board members had received unauthorised benefits.
World Bank chief denies corruption claims
World Bank president James Wolfensohn has dismissed United States allegations that billions of dollars of bank funding was misused as "frivolous".
UK's Brown signals rate rise support
UK Chancellor of the Exchequer Gordon Brown said on Wednesday 19 May that he is concerned that rising wages and higher oil prices may lift inflation, and he signalled support for the Bank of England's decision to raise interest rates.
China's PBOC considers new plan on NPLs
The People's Bank of China is considering adopting an aggressive new strategy to offload another 200 bln yuan in non-performing loans (NPLs) from the Bank of China and China Construction Bank, as the government steps up its efforts to clean up the nation…
Sweden's Heikensten on economic activity
Riksbank Governor Lars Heikensten spoke about economic developments on Monday 17 May at a seminar in Tanum. He said recent developments in economic activity and price pressures have been considerably less dramatic than what the situation in the financial…
IMF's Krueger says oil price not in 'danger area'
The International Monetary Fund (IMF) sees no immediate threat to the global economy from either the recent oil price surge or insecurity in Iraq, its acting Managing Director said on Tuesday 18 May.
Vice president attacks central bank of Peru
Peruvian Vice President David Waisman criticized a central bank decision to allow pension funds to invest more abroad, saying it hurts the country's economy, Gestion newspaper reported.
UK, France and Germany to co-ordinate econ policy
In an interview with French daily Le Figaro, French finance minister Nicolas Sarkozy has said that France, Germany and the UK are ready to include common measures in their national budgets to become more co-ordinated economically.
Inflation still low, no rate hike needed - PBoC
China's current level of inflation does not yet warrant an interest rate hike, a member of the monetary policy committee of People's Bank of China (PBoC) was quoted in the official Shanghai Securities News as saying.
Euro area inflation rises above target
The euro zone's annual inflation rate rose to 2 percent in April, edging above the European Central Bank's target for the first time this year, the European Union said on Tuesday 18 May.
Basel II rules 'take account of small businesses'
European Central Bank governing council member Guy Quaden on Monday 17 May played down fears that small and medium-sized firms would suffer from the new rules on bank capital known as Basel II.
Bundesbank sees increased risk of pact breach
The risk that Germany will breach the EU's strict budget rules for the fourth year in a row next year is increasing, the Bundesbank's chief economist Hermann Remsperger said.
Russian central bank signs cooperation agreement
The Central Bank of Russia and the Federal Financial Monitoring Service signed an agreement "On Informational Cooperation".
Government and BOJ to co-op on deflation
The Japanese Government and central bank will work together to end deflation and support a recovery in the world's second-largest economy, Finance Minister Sadakazu Tanigaki told Asian counterparts in South Korea.
BOK chief concerned over oil prices
Bank of Korea Governor Park Seung said on Saturday 15 May that high oil prices were the main source of economic concern for Korea at the moment.
Saudi Arabia scraps euro foreign reserves policy
Saudi Arabia has abandoned its policy of diversifying foreign reserves into euros, deeming the eurozone unfit to manage a major world reserve currency.
Bank of Japan names new executive director
Nobuo Inaba, director-general of the Bank of Japan's Bank Examination and Surveillance Department, will be promoted to executive director, replacing outgoing Takahiro Mitani, bank officials said on Saturday 8 May.
Bush taking time to renominate Greenspan
Alan Greenspan has fewer than six weeks of his term left as Chairman of the Federal Reserve, and some analysts are wondering why George W is yet to renominate the 78-year old Maestro.