News
ECB against Italian bill on Fazio
The European Central Bank opposes plans for a law that would allow the governor of the Bank of Italy to be sacked, news agency Radiocor said, citing an ECB report.
FATF mandate renewed for eight years
The Financial Action Task Force held a Ministerial meeting on 14 May on the margins of the OECD Ministerial Council Meeting. The representatives from FATF's 33 members reaffirmed their commitment to the FATF and renewed the FATF's mandate to combat money…
Report says Liberia's Saleeby kicked out
According to a report in The Analyst, Monrovia, the executive governor of the central bank of Liberia, Ellie Saleeby, has been booted out on the insistence of a visiting IMF delegation to Liberia.
Zimbabwe: Retrenched staff stuck in limbo
The Zimbabwe Standard reported this week that several senior Reserve Bank of Zimbabwe officials targeted for retrenchment are sitting idle at the bank, more than two months after the central bank said they would be laid off.
Retired central bank staff in Canada may sue
A group of 1,200 Bank of Canada retirees may sue the central bank, claiming it refuses to discuss sharing a surplus in the employee pension plan, a report by Bloomberg said.
Music maestro
Speaking on Thursday 13 May to a group of high school students in Chicago, Alan Greenspan shared some personal memories including life on the road with a dance band as a clarinet and saxophone player.
McTeer says Fed must work harder on growth
Dallas Fed president Bob McTeer said on Thursday 13 May that the Fed must work harder to promote growth and lift employment.
EU adds price stability goal to constitution
European Union negotiators have agreed to enshrine the goal of price stability in the bloc's first constitution, meeting a demand of European Central Bank President Jean-Claude Trichet.
ADB meeting hears single currency decades away
The Asian Development Bank (ADB) annual meeting heard on Friday 14 May that East Asia's dream of a European Union-style single currency remains decades away, although initial steps have been taken towards regional economic and financial integration.
Japanese economy on right path says Tanigaki
Speaking on Friday 14 May, Japanese Finance Minister Sadakazu Tanigaki said that Japanese economic conditions were broadly positive at the moment despite some turbulence on the stock market.
World Bank 'missing' $100bn
Corruption may have sapped as much as $US100 billion from World Bank lending projects to help poor countries, a key US senator said on Friday 14 May.
Nyberg: Economic situation & the property market
Deputy Governor of the Sveriges Riksbank Lars Nyberg spoke Wednesday 12 May about the economic situation and the property market. He said price developments in the housing market are being talked about as a possible bubble and pose a risk of overheating.
Professor Issing gives Mais lecture
As usual, the Mais lecture given at the Cass Business school, this year given by Professor Otmar Issing, chief economist and executive board member of the ECB, was a very pleasant City/academic occasion.
Moskow says Fed can raise rates gradually
The Federal Reserve intends to raise U.S. interest rates at a gradual pace, though much depends on developments in the economy, Chicago Fed President Michael Moskow said on Wednesday.
Weber urges spending cuts by German govt
In his first speech as Bundesbank president, Axel Weber urged the German government to cut spending and push ahead with key reforms to prioritise reining in the fiscal deficit below the 3-pct-of-GDP limit set by the EU stability and growth pact.
Greece presents special Olympic coin
Greece presented the first commemorative Olympics coin to be denominated in euros, aiming to raise funds for its overstretched Olympic budget. The coins were due to go on sale Thursday 13 May.
Trans-Tasman currency to be discussed
Australia's high commissioner to New Zealand is promoting a common currency between the two countries as a way to advance the trans-Tasman relationship.
Consensus achieved on Basel II proposals
The Basel Committee on Banking Supervision announced Monday 11 May that it has achieved consensus on the remaining issues regarding the proposals for a new international capital standard, known as Basel II.
Minutes from the Sveriges Riksbank Meeting, 28 Apr
Minutes of the Sveriges Riksbank Executive Board meeting on 28 April, published 12 May. One member summed up the discussion saying that as Swedish GDP growth would probably be somewhat more robust than forecast in the Inflation Report, inflation could…
BOJ buys Y1.98 trln shares to May 10
The Bank of Japan said on Wednesday it had bought a cumulative 1.9799 trillion yen ($17.53 billion) of shares held by Japanese banks by May 10 under a programme aimed at reducing banks' exposure to stock market volatility.
BOJ must watch for overshoot in yields, Nakahara
Bank of Japan policy board member Shin Nakahara said on Wednesday that the BOJ must watch for any overshooting in long-term yields, in an attempt to reduce concerns as the economy recovers and speculation of a policy switch arises.
New IMF chief Rato says oil rise abrupt
New IMF managing director Rodrigo Rato said at his first news conference surging oil prices were disrupting financial markets. He also said the world economy was in an upswing with the prospect of only moderate changes in interest rates ahead.
Africa's first polymer banknotes to stay
Africa's first and only polymer banknotes, issued by the Bank of Zambia, will remain in circulation despite their disappointing performance, the bank said Tuesday 11 May.
Unpopular measures needed for Cyprus euro adoption
Cyprus Central Bank Governor Christodoulos Christodoulou said Tuesday the government must take "unpopular" measures to reign in public spending to achieve its target of adopting the euro in 2007.