News
France backs Duisenberg to extend ECB term
The meeting of finance ministers and central bankers in Athens on Friday is likely to support moves to extend Wim Duisenberg's tenure as president of the European Central Bank, according to a report in the Financial Times. He may stay for up to six…
Meeting of AGCC cb governors in Qatar
The meeting of AGCC central bank governors in Qatar on Thursday 3 April was due to discuss issues concerning the common AGCC currency and the supervision of the banking system, according to a report in the Times of Oman.
Iraq's central bank unveils new banknote
The Iraqi central bank has issued a new banknote for 10000 dinar. The note contains various security features as well as the same portrait of President Saddam Hussein used on all other banknotes in Iraq, according to the LBMRC.
Volcker critical of corporate governance failures
Former Federal Reserve chairman Paul Volcker has said governments are partly responsible for the scandals involving corporations such as Enron and WorldCom and that public scepticism has reached worrying levels, reports the VOA News.
Vittorio Corbo new Chile cb board member
The president of Chile, Ricardo Lagos, has named Vittorio Corbo as a new board member of the central bank of Chile, Reuters reports. Corbo will take Carlos Massad's place on the Bank's board. Massad resigned as president of the central bank earlier this…
Iraq conflict 'likely to hit global growth'
In a regular report the World Bank said the Iraq conflict will probably have about the same effect on the global economy as the September 11 attack the Financial Times reports. The report also said the huge accumulation of reserve assets means the…
Changes at the top in Kenyan central bank
Kenya's central bank has announced major changes to its senior staff job roles. Shifts include supervision, financial markets and the banking department, according to the daily Nation, Kenya.
Finnish central bank governor on medical leave
The governor of Finland's central bank Matti Vanhala will be on leave from the Bank until June. Mr Vanhala will be undergoing an operation.
Nauru passes legislation to axe offshore banks
Nauru's parliament has passed legislation which will abolish the country's controversial offshore banks.
Belgian central bank defends shareholder treatment
Guy Quaden, Belgium's central bank governor, has denied accusations made by shareholders at an annual meeting that the bank favours its main shareholder, the Belgian government.
RBA holds fire on interest rates
The Reserve Bank of Australia held interest rates steady at 4.75 per cent on Tuesday 1 April in a widely expected move, reported The Australian Financial Review.
Riksbank's Heikensten in favour of ECB vote deal
Swedish central bank chief Lars Heikensten has come out in favour of the agreement to reform the European Central Bank's Governing Council, but he also wants more transparency from the institutions.
E.African c b bosses support monetary union study
A meeting of east African central bankers has called for a greater role for central banks in the conduct of monetary policy and supervision of the financial sector. The EAC also agreed to intensify cooperation and information sharing between the central…
Russia takes Latvia off currency control list
Russia's central bank has removed the tight currency controls which it had in place against Latvia. These are the last of the restrictions adopted by Russia's central bank regarding Latvia in 1998, according to a report from the baltic News Service.
Serb PM urges central bank to adapt exchange rate
Under a special law the National Bank of Serbia will soon be officially recognised, Serbian premier Zoran Zivkovic said on Tuesday 21 March, according to a report by the tanjug new agency. He also called for the central bank to listen to the market and…
OECD chief economist calls for ECB rate cut
A newspaper has quoted the OECD's top economist as saying "there is a clear-cut case" for a cut in the ECB's interest rate by a "significant" amount, according to Reuters.
Brazil real gains on central bank reform hopes
Increasing optimism that Brazil's central bank will gain greater independence pushed the real up against the dollar in trading, says the Financial Times. The legislation to be presented Wednesday is the first of a series of radical reforms designed to…
Taiwan's c bank chief touts herbs to fight SARS
With the deadly virus Severe Acute Respiratory Syndrome (SARS) spreading rapidly around the world, Reuters reported on Wednesday 2 April that Perng Fai-nan, governor of the central bank of China (Taiwan) has suggested a mixture of vinegar, crushed garlic…
Central Bank of Brazil COPOM Minutes
The Banco Central Do Brasil has published the minutes of the 82nd meeting of the Monetary Policy Committee (COPOM), 18 and 19 March. The Copom decided to maintain the Selic rate at 26.5%. However, the committee said that there are considerable risks to…
Chile's central bank president Massad resigns
The president of the central bank of Chile, Carlos Massad, tendered his resignation on Monday March 31 , according to Reuters. The move comes two months after Mr Massad's secretary was arrested for selling market-sensitive information to Inverlink, a…
Boston Fed's Minehan urges vigilance on US economy
Cathy Minehan, President of Boston Federal Reserve, said in a speech on Monday 31 March that vigilance will be necessary following a raft of negative economic data, according to a report by Reuters. She also described the risks to the economy from war…
Fed's Bies - Gauging war impact may take some time
Fed board member Susan Bies said on Monday 31 March thatit was difficult to separate out the effect of war on the economy compared to other fundamental economic issues, Reuters reports. It could take a few months for a clear picture to emerge as to what…
SARB may block access to banking information
Governor of the SARB Tito Mboweni told South Africa's parliament on Friday that he may seek to prevent confidential banking information entering the public domain, reports Business World
Russian gold reserves may rise one-third in 2003
Russian central bank first deputy governor Oleg Vyugin said on Monday that the new oil price forecast could see the central bank increase its reserves by US$14bn during the year, according to a report by ITAR-TASS news agency.