News
Richmond Fed's Broaddus: Economy will weather war
Richmond Fed president Alfred Broaddus has said economic recovery in the US will be strong enough to ride out the Iraq war. The economy should be "solid enough" to withstand current shocks, he said.
Callum McCarthy confirmed as FSA Chairman
UK Chancellor Gordon Brown today (1 April) announced that Callum McCarthy has been appointed as Chairman of the Financial Services Authority (FSA).
Jordanian c b approval needed over Iraqi funds
Jordan's central bank has told banks to secure its authorisation before allowing the withdrawal of funds from Iraqi accounts. AFP reports that the governor of the central bank of Jordan said the measures would help guarantee the security of the banking…
NIESR; euro 'would boost economic growth' in UK
Influential think tank, the National Institute of Economic and Social Research has said that UK entry to the euro would boost economic growth significantly over the long term, according to a report in the Financial Times. Main benefits would be the…
ECB's Constancio: Little room to move on rates
Bank of Portugal chief Vitor Constancio said the war in Iraq poses the threat of global recession and that little room for manoeuvre exists in the way of interest rate easing at the moment.
Mexico tightens monetary policy
Mexico's central bank tightened monetary policy on Friday March 28, according to a report in the Financial Times. The bank does not change interest rates but uses a mechanism known as the "corto" which limits the amount of liquidity available to the…
Call for further anti-deflation measures from BoJ
Heizo Takenaka, Japan's chief financial regulator, has called for further anti-deflation steps to be taken at the Bank of Japan's next meeting in early April. According to Asahi Shimbun, Takenaka said on Sunday 30 march that increasing the volume of…
Finance Minister on Bank of France reorganisation
The French finance minister, Francis Mer, has given assurance that the expected reorganisation at the Bank of France will not involve redundancies, according to Le Figaro.
ECB: no requests for Duisenberg to stay
Contrary to some reports the ECB has said it has no knowledge of any official request to Wim Duisenberg for him to stay on as president, according to Reuters.
Another term as governor for RBA's Macfarlane?
The Australian Treasurer, Peter Costello, speaking on Sunday 30 March intensified speculation that Ian Macfarlane would be given a second seven-year term as governor of the RBA saying he has obviously discharged his duties 'very finely', according to a…
New chairman of UK FSA
Callum McCarthy, a former executive at Barclays Bank and currently chief executive of the UK's energy industry regulator Ofgem, is expected to be named as the next chairman of the UK's Financial Services Authority, reports the Financial Times. The report…
Battle over Brazil central bank's autonomy
A battle may develop over the central bank of Brazil's moves towards independence, according to a report by United Press International. The party of President Lula is trying to push through a bill in support of central bank autonomy. But about half the…
National Bank of Serbia inflation at 3 yr low
Serbia's central bank has reported that monthly inflation was at a three year low of 0.3 percent and that the annual rate was well within its projection.
Venezuela's Chavez pushes central bank to cut rate
Venezuela's central bank has apparently been threatened with court action by the president of the country over its reluctance to cut interest rates, according to a Reuters report. The government is struggling to revive the recession-bound economy which…
IMF condolences over death of Iranian cb governor
Horst Kohler, the managing director of the IMF, has sent a message to Iran's president expressing his sorrow over the sudden death of the governor of the central bank of Iran, Mohsen Nurbakhsh, reports the IRNA news agency
Serbia, Montenegro appoint National Bank to IMF
Serbia and Montenegro have agreed to appoint the national bank and its governor as fiscal agents with the IMF, says the Tanjung news agency.
Bundesbank's profits shrink by nearly 50%
The Bundesbank revealed this week that profits for 2002 fell by almost 50%. Gold and currency reserves were shown to have more than halved on the previous year, accordint to a report in the Frankfurther Allgemeine Zeitung.
Extra six months proposed for Duisenberg at ECB
A report by Belga News quoting official sources says Greece, as the current holders of the EU presidency, will propose that ECB president Wim Duisenberg stays on for another six months in office.
ECB's Papademos praises Ireland's economy
In a speech made in Dublin and reported by RTE News, the ECB's vice president, Lucas Papademos, said the Irish economy was a good example to others. He also outlined and defended the ECB's proposed new three-tier rotating voting system.
US seizes $1.62bn in Iraqi assets
The US has seized $1.62 billion in Iraqi assets and will use the money to rebuild the country once the conflict has ended, reports Associated Press
CentralBankNet Monday Special Feature
SPECIAL FEATURE - In an exclusive interview with CentralBankNet.com, Professor Fatih Ozatay, the vice-governor of the Central Bank of the Republic of Turkey, explains how the war in Iraq is affecting the central bank, and what it is doing to mitigate…
Bergstrom: Driving forces behind EMU
Deputy Governor of the Sveriges Riksbank Villy Bergstrom gave speeches on Thursday at a seminar for trade union representatives in Brunnsvik and at a meeting organised by the Study Promotion Association and JAK Bank in Orsa on the political and economic…
Treasury statement on the RBA Board appointment
Statement by Peter Costello, Treasurer of Australia on the appointment of Robert Gerard to the Board of the Reserve Bank of Australia, 25 March.
Bush meets Fed chief to indicate priorities
Fed chairman Alan Greenspan met with George Bush earlier this week to brief the US president on the state of the US economy, according to a report in the Financial Post. The meeting came as Mr Bush prepared to ask Congress for at least US$70-billion to…