News
IMF criticises Bulgaria over central bank delay
With the name of the new governor of the Bulgarian national bank still to be decided, the IMF has stepped in calling the delay a problem and urged a speedy conclusion to the matter in a transparent way, Bulgaria News Network reported.
Confirmed: EU to quiz Trichet on ECB job, 11 Sept
Jean-Claude Trichet will appear before the European Parliament's Economic and Monetary Affairs Committee (EMAC) on 11 September, it was confirmed Friday Reuters reported.
Venezuela considers parallel forex market - c bank
Domingo Maza, one of the directors on the board of Venezuela's central bank said Thursday, Reuters reported, that the government and central bank were looking at ways of improving the control regime to speed up the flow of dollars into the economy.
Argentina's GDP could grow 5.9%, Prat-Gay says
Argentina's central bank President Alfonso Prat-Gay told a Senate committee there is a recovery of internal demand and an incipient recovery in consumption and that the Argentine economy may expand as much as 5.9 percent this year, Bloomberg reported.
Philippines may get soiled notes clearing-house
Banking authorities in the Philippines said Thursday a cash management center would be set up in the Bangko Sentral ng Pilipinas. The center will serve as a central clearing-house to take mutilated or "unfit" peso notes out of circulation, ABS-CBN News…
Bergstrom: EMU debate contains some lame arguments
Deputy Governor of the Sveriges Riksbank Villy Bergstrom gave a speech on 26 June at the invitation of all parties in the Ljusdal local government on the possible consequences of participation in Stage Three of EMU.
Duisenberg silences ECB rate cut talk
Wim Duisenberg put the onus on national governments to stimulate growth on Thursday 3 July, according to Reuters, telling the European parliament that governments can no longer hide behind the ECB to cover up their failure to enact urgently required…
Alan Greenspan opens Philadelphia Fed mini-museum
Alan Greenspan opened the Philadelphia Fed's new "Money in Motion" mini-museum on Wednesday 2 July, Dow Jones reports. The displays aim to make the complex history of American monetary policy visitor-friendly for tourists and local visitors.
IMF statement on new chief economist Rajan
IMF Managing Director Kohler Proposed Raghuram Rajan as Economic Counsellor and Director of the IMF's Research Department, 2 July.
BOJ is watching bond yields 'closely' Suda says
Bank of Japan board member Miyako Suda said in a speech that the BoJ is closely watching the bond market but it will take time to assess the effect of asset prices on the economy, according to a report by Bloomberg.
French PM calls on ECB to lower rates further
French Prime Minister Jean-Pierre Raffarin has urged the ECB to cut interest rates further, according to Associated Pres, saying recent interest-rate cuts by the ECB are an encouraging sign and he hoped they can be continued.
Bank of Ghana to replace 500 staff with equipment
The Bank of Ghana's plan to shed 1,000 staff which we reported last week includes the installation of a one million dollar Sorting Machine that would replace over 500 counter staff as part of the central banks' transformation exercise, according to Ghana…
Bangko Sentral ng Pilipinas 10th anniversary
The Bangko Sentral ng Pilipinas (BSP) celebrated its 10th anniversary on Wednesday. The Manila Bulletin says the BSP can rightfully claim that it has been doing well in keeping the banking system stable.
Right-wing withdraw from Bulgaria governor talks
Bulgaria's right-wing opposition has withdrawn from debate over the new governor of the central bank of Bulgaria,according to Novinite. They say it is not appropriate to mix talks over the election of a new governor with consultations over Bulgaria's…
Poll shows Swedish opposition to euro growing
Two recent opinion polls have suggested opposition to the euro is increasing in Sweden, the Financial Times reports.
Russian c bank claims Belarus changed ruble date
Russia's central bank chief Sergei Ignatyev told Interfax that Belarus initiated the decision to change the date on which Russian ruble transactions will be introduced in Belarus.
EC capital requirements - Third consultation paper
Capital requirements for banks and investment firms third consultation paper and impact study results published, 1 July.
New risk control framework for eligible assets
In the context of the regular assessment of the risk control framework applicable to eligible assets used in Eurosystem credit operations, the Governing Council of the ECB has approved changes to the risk control framework, 2 July.
ECB meeting and press conference schedule for 2004
The Governing Council of the ECB has agreed that in the year 2004 its meetings will continue to be held, as a rule, on a Thursday in the first and third week of each month. As in 2003, the meeting schedule of the Governing Council also accommodates…
IMF, Ecuador talks to focus on reforms- Cenbanker
Sixto Cuesta, the deputy president of Ecuador's central bank, told Reuters that the IMF has concerns over the pace of reforms of the tax system and labour laws in Ecuador prompting the IMF to delay a $42 million payment.
ECB's Issing upbeat on eurozone recovery
The ECB has "cautious optimism" that the eurozone economy would improve soon with the recovery in equity markets, BizWorld reports chief economist Otmar Issing as saying.
Iraqi banks want to rejoin banking system
Faleh Salman, acting Iraqi central bank governor, said at the weekend that the Security Council's decision in May to lift sanctions meant "here is no impediment now" for the resumption of relationships across the world for Iraq's banks, according to a…
UK failing to track dirty money
A new report, commissioned from KPMG by the UK government, reveals problems "inherent in all aspects" of efforts to track money laundering in the UK.
Brazil c bank to upgrade credit system in 90 days
The central bank of Brazil's upgraded credit information system will gather information about all loans above 5,000 reais (US$1,760), compared to a minimum of 20,000 reais in the current system, according to Business News America. It will also bring a…