News
RBI staff 'are grossly underpaid'
The Reserve Bank of India's Officers Association (RBIOA) has demanded that pay be linked to other central banks, saying a tiger must be compared with a tiger.
Brash unimpressed with RBNZ's plans
Former RBNZ chief Don Brash said this week that while the high value of the New Zealand dollar was hurting the economy, any attempt to intervene would be fraught with risk.
Taiwan markets jittery after President shot
Taiwan markets were nervous on Friday 19 March after President Chen Shui-bian survived an assassination attempt on the eve of a presidential election. The central bank said it would intervene to stabilise the currency where necessary.
Minutes show Fed wanted increased flexibility
The FOMC was unanimous at their January meeting that they should ditch a pledge to keep interest rates low for "a considerable period" in favour of wording that would increase their flexibility, minutes showed Thursday.
GCC plans economic coordination monetary fund
The Gulf Cooperation Council (GCC) is considering creating a monetary fund to coordinate economic and fiscal policies between member states and ensure the success of the planned monetary union, it was reported on Friday 19 March .
Japanese Fin Min praises Fukui's first year
Japan's Finance Minister Sadakazu Tanigaki said on Friday 19 March that Bank of Japan Governor Toshihiko Fukui acted "appropriately and boldly" in his first year as head of the central bank.
Brazil to pursue 5.5% inflation target: Meirelles
Brazil's Central Bank President Henrique Meirelles said on Friday 19 March that he will continue to pursue a 5.5% inflation target "to guarantee growth of 3.5% or more" this year.
Uzbek central bank denies currency reform
First Deputy Chairman of the Uzbek central bank Muhammad Jumageldiyev has dismissed rumours that Uzbekistan is planning to replace its existing currency denominations.
Kenya's former governor accused as party to theft
The Goldenberg inquiry has heard former Central Bank of Kenya Governor, Eric Kotut conspired with banks to defraud the bank of a massive US$247.9 million (Sh9.7 billion) in April 1993.
IMF issues warning on website's misuse of its name
In view of inquiries to the International Monetary Fund (IMF) regarding the website www.imfdebt.com, the IMF advised the public of the following on Friday 19 March.
International Conference on Emerging Markets
The Centre for the Study of Emerging Markets (CSEM), Westminster Business School, London, will hold a two-day conference 11-12 June. Confirmed speakers include central bank governors from Poland, Bolivia, Latvia and Bosnia Herzegovina.
Combined ATM system starts in Pakistan
Dr Ishrat Husain, the governor of the fState Bank of Pakistan (SBP), has inaugurated the two ATM switches, Mnet and 1-Link, at a ceremony held at the SBP building.
Eurozone inflation slows to 1.6 percent
Eurozone annual inflation slowed to 1.6 per cent in February, its lowest level since November 1999, data from the European Union's statistics agency showed on Wednesday 17 March.
Japanese officials say intervention not over yet
Japanese officials continued their battle with foreign exchange markets on Thursday 18 March as the yen surged against the dollar, warning they will act against sudden moves, but only when necessary.
Bulgaria, IMF to agree anticorruption package
During the forthcoming IMF mission at the end of March Bulgaria will agree a package of measures to fight corruption.
Russia-Belarus Union budget gets second reading
The Russia-Belarus Union budget will be submitted for its second reading to the Parliamentary Assembly in Moscow on March 25, Russian State Duma Speaker Boris Gryzlov has declared.
Switzerland holds key rate unchanged
Switzerland's central bank said on Thursday it was leaving its key interest rate unchanged, cautioning that an upswing in Switzerland's faltering economy was not yet assured.
Bank of England MPC Minutes 3/4 March
Minutes of the Bank of England's Monetary Policy Committee Meeting were released on 17 March for the meeting of 3 and 4 March 2004. All nine members of the MPC voted to keep interest rates steady earlier this month, but their arguments may suggest…
Federal Reserve maintains its patience
The Federal Open Market Committee decided on Tuesday 16 March to keep its target for the federal funds rate at 1 per cent, repeating that it can be "patient in removing its policy accommodation".
ECB set to maintain neutral rates stance
The European Central Bank will maintain its "wait and see" stance on interest rates amid mixed signals on growth and consumer confidence, ECB governing council member Yves Mersch says.
Japan denies plan to change forex policy
Japanese officials on Tuesday 16 March sought to deflect growing speculation that they could soon scale back their foreign exchange intervention, aimed at preventing a higher yen from stifling an economic recovery.
Fukui says BOJ wants 'favourable money supply'
Bank of Japan Governor Toshihiko Fukui told Parliament on Wednesday 17 March that the central bank wants to achieve "favourable money supply" growth and that the economy hasn't recovered enough to allow the BOJ to adopt an explicit inflation target.
Germany sets G20 meeting for Nov 19-21
Germany said on Tuesday 16 March that it will host a meeting of finance ministers and central bank governors from the G20 group of developed and emerging market economies on 19-21 November in Berlin.
New Spanish PM backs Rato for IMF
Spain's future Socialist prime minister, Jose Luis Rodriguez Zapatero, on Wednesday 17 March came out in support of Rodrigo Rato for IMF Managing Director, saying that his appointment would be good news.