News
No such thing as a free (or cheap) lunch at IMF
The International Monetary Fund will stop subsidising its cafeteria from 1 May. Part of the problem was World Bank staff flocking in from across the road for cheap nourishment.
Interest rate warning on euro entry
Bank of England MPC member Kate Barker has called into question the economic case for joining the euro citing "difficulties in the European policy background and problems with the UK exchange rate".
ECB plans for reform may run into problems
Plans to reform the European Central Bank, including cutting the voting power of smaller European Union member states, are expected to run into trouble this week. Some Finnish MPs claim Paavo Lipponen, their prime minister, assured them that the Bank of…
Japan central bank keeps dismal view on economy
Japan's central bank kept its bleak view of the economy unchanged for the fourth-straight month in a report Monday that said growth was hampered by weak domestic consumption and volatile exports.
Indonesia names 3 possibles for central bank chief
Indonesian President Megawati Sukarnoputri has submitted to parliament three experienced central bankers as choices to replace central bank governor Sjahril Sabirin when his term expires in May.
Chavez calls for fixed interest rates
President Hugo Chavez said Sunday interest rates should be fixed to reverse Venezuela's deteriorating economic situation, just days after he imposed exchange controls and price controls for the same reason.
German economy stagnant, says Bundesbank
Germany appeared to move a step closer to a new recession Monday when the Bundesbank estimated that the euro zone's biggest economy contracted slightly in the fourth quarter of last year.
Duisenberg may have to extend stay at ECB
There have been calls for European Central Bank (ECB) president Wim Duisenberg to extend his stay at the head of the bank due to questions over the fate of his successor.
European Parliament Press Release
PRESS RELEASE - ECB - steady as she goes despite uncertainty, says Wim Duisenberg, 17 February.
Bank of Japan Press Release
PRESS RELEASE - Announcement of the Monetary Policy Meeting decisions (unchanged), 14 February.
Venezuela's Zavala - No for ex trading until March
According to Central Bank of Venezuela (BCV) Director Domingo Maza Zavala, foreign exchange trading will continue to be suspended until the end of February to allow government and Central Bank officials enough time to implement the controls.
Russian gold reserves reach another record high
Russia's gold and foreign exchange reserves totalled 50.2bn dollars as of 7 February, compared with 49.3bn as of 31 January, First Deputy Chairman of the Russian Central Bank Oleg Vyugin told journalists.
Prodi urges more flexibility on Pact
European Commission president, Mr Romani Prodi, has called for more flexible rules governing the 12-nation euro zone, amid warnings that war on Iraq could throw the region's economy further off course. Prodi famously referred to the Pact as 'stupid'…
Poland to join euro zone in 2007- finance minister
Finance Minister Grzegorz Kolodko reiterated that Poland could meet Maastricht convergence criteria in 2005 and join the euro zone in 2007.
Noyer mentioned as potential ECB candidate
CentralBankNet learns that former European Central Bank vice president Christian Noyer may be in line to take over from Wim Duisenberg as president of the ECB in July if Jean-Claude Trichet is unable to take up the position.
Bank of France strike begins with 62% not working
At least 62 per cent of the 8,000 branch employees of France's central bank, the Banque de France, stopped work Thursday in protest against plans to trim the bank's branch network.
'Mr Yen' expects new intervention tactic by Japan
Japanese authorities, whose surprise currency intervention last month has largely stabilised the yen, will likely try a new trick when they step into the market again, a noted intervention guru said on Friday.
BoC's Knight says monetary conditions expansionist
The Bank of Canada said domestic monetary conditions "remained expansionist" and held to last month's forecast that inflation in the first quarter would range between 4 and 4.5 percent, Senior Deputy Governor Malcolm Knight said in a prepared speech on…
Japan's central bank maintains monetary policy
Japan's central bank kept its monetary policy unchanged Friday but said it was prepared to provide extra cash to maintain stability in the financial markets.
Latvian PM says he is a mad Martian
Latvian Prime Minister Einars Repse, and former central bank head, responding wryly to criticism of his performance, says he is a mad Martian who had come to live on Earth.
Central Bank of the Philippines Press Release
PRESS RELEASE - 38th SEACEN Governors Conference and 22nd Meeting of the SEACEN Board of Governors.
Trial delay makes ECB job unlikely for Trichet
The verdict on the trial of Jean-Claude Trichet, the governor of the Bank of France will not be announced until 18 June. The sensational four month delay to analyse "complex details" virtually rules Trichet out of the running as the next president of the…
Irish central bank hints at early euro rate cuts
Ireland's central bank governor John Hurley Wednesday night provided a strong hint of significant early European interest rate reductions.
Greenspan and Bush in public clash
In a rare rift with Alan Greenspan, the White House has taken issue with the Federal Reserve chairman's assessment that now is not the time to boost the economy - at least not along the course George Bush has chosen.