News
ECB board member says euro rates appropriate
In a speech on Tuesday 10 February, European Central Bank executive board member Gertrude Tumpel-Gugerell said the ECB is not currently considering a cut in rates and that despite the euro's rise growth predictions remain the same.
Zhou: China's 'stable and healthy' monetary policy
People's Bank of China Governor Zhou Xiaochuan said on Tuesday 10 February that China will allow its money supply and credit loans to keep growing at an appropriate pace in 2004.
Greenspan sees vigorous growth, warns on deficit
In testimony on Wednesday 11 February, Fed Chairman Alan Greenspan said the U.S. economy has good odds for sustained robust growth, but that policy-makers can be patient about interest-rate rises. He warned there could be problems "in the relatively near…
Argentina holds 'constructive' IMF talks
Argentina's Economy Minister Roberto Lavagna described talks with IMF chief Horst Koehler on Monday as constructive but said there was no change in its offer to repay its defaulted debt at 25 cents on the dollar.
RBI governor to lead market surveillance panel
The Reserve Bank of India has formed a high power committee headed by the governor for integrated market surveillance and alert systems. The committee is to strengthen market supervision and monitoring.
Euro rate not major target for ECB says Issing
European Central Bank chief economist Otmar Issing said that the euro foreign exchange rate is not a major target of the ECB's monetary policy strategies but does play an important role in the assessment of price risk.
Russia not to vary currency policy after G7 meet
Russian Central Bank First Deputy Chairman Oleg Vyugin said on Monday 9 February that the bank saw no reason to change its currency policy following last weekend's Florida meeting of the Group of Seven finance ministers and central bank governors.
Currency volatility a growth risk says G7
Exchange rates should be flexible and avoid excess volatility, the Group of Seven (G7) industrial nations said at the weekend.
PBC rejects renminbi revaluation talk
An official at the People's Bank of China has refuted speculation in local media that it may be planning to revalue the renminbi this coming March, allowing China's currency to rise by 5% against the U.S. dollar.
CNB's Tuma sees higher inflation this year
Czech inflation will tick higher this year due to changes in the value added tax agreed by the ruling coalition last week, Central Bank Governor Zdenek Tuma said on Sunday 8 February.
Forex curbs staying in Venezuela, but may be eased
Venezuela will keep its year-old currency controls in place, boosting its foreign reserves, but the government will try to make them more flexible, President Hugo Chavez said on Sunday 8 February.
Central bank chiefs open Hong Kong meeting
Central bank governors began a two-day meeting in Hong Kong Sunday to exchange views on the latest global economic and financial situation as well as exchange rates regimes and plans to combat terrorist financing in the region.
Brazil's Meirelles scotches resignation rumours
Rumours originating in New York this week suggested that Brazilian central bank president Henrique Meirelles was about to resign.
Brash fires Maori MP who criticised his speech
Last week we reported New Zealand National Party Maori MP Georgina te Heuheu's criticism of "Maori bashing" in a speech made by the party's leader, and former governor of the RBNZ, Don Brash. But Brash defended his speech and this week fired the MP.
Ireland names candidate for ECB position
Ireland's Finance Minister Charlie McCreevy proposed Michael Tutty this week as the country's nominated candidate to sit on the Executive Board of the European Central Bank.
Coin chaos in Vietnam as children eat them
The State Bank of Vietnam's recent issue of three new coins turned to disaster when children started eating them after mistaking them for sweets.
Macfarlane's credit card bill rumpus
Australia's newspapers went into overdrive this week after one was able to obtain RBA governor Ian Macfarlane's American Express statements under a "Freedom of Information request". The bank was forced to defend Macfarlane's $249,000 credit card bill,…
Economic outlook 'mixed' at Chicago Fed
Chicago Fed president Michael Moskow gave his first speech of 2004 on Tuesday. But while we're sure he got his message across loud and clear, the bank's own website reported it with a spelling mistake in the title. Or is the US economy in more of a…
'Capitalism is not working'
Former US Treasury Secretary Paul O'Neill's recent book "The Price of Loyalty" contains various quotes attributed to Alan Greenspan. Although his comments on President Bush got much publicity recently, what the Fed maestro had to say was largely…
Gerashchenko's appeal fails
Russia's Supreme Court rejected an appeal from former central bank chairman Viktor Gerashchenko on Friday 6 February over refusal by the Central Electoral Commission to register him a candidate in the upcoming presidential election.
BOK governor to attend BIS meeting
Bank of Korea Governor Park Seung plans to leave for Hong Kong on Sunday 8 February to attend the Asian Central Bank Governors' Meeting held by the Bank for International Settlements (BIS).
Malaysia's Zeti: ringgit peg 'not misaligned'
Malaysia's central bank governor Zeti Akhtar Aziz said on Friday 6 February that the 3.80 to the US dollar ringgit peg is appropriate and that the Malaysian currency is "not misaligned".
CBK 'made history' by posting Sh7 bn loss
The Central Bank of Kenya made a Sh7 billion loss in 1993, described by a witness on Thursday 5 February as abnormal because it was uncharacteristic of a central bank to make losses.
Waring begins RNBZ role
With a Christmas delivery of bulk reports and background material, Professor Marilyn Waring has unofficially started her appointment to the board of the Reserve Bank of New Zealand, reported Massey University's 'Massey News'.