News
Outsiders may fill vacuum at top of Bank of Canada
The Bank of Canada, facing a top-level retirement and the departure of its cost-cutting number two, may have to look at outside nominees to bring its management team back up to strength, analysts said on Monday.
Fed's Guynn: Probability of deflation 'very low'
Federal Reserve Bank of Atlanta President Jack Guynn said Monday the U.S. faces little chances of falling into the same deflationary trap that has ensnared Japan. His comments are broadly in line with many central bankers who have spoken in recent months…
Takenaka upbeat on Japan growth after Bank reform
Japan's economy and banking minister said Tuesday the economy could eventually return to growth as high as 2.5% after a slow-growth period of painful reform. Heizo Takenaka spoke at the Australian National University and maintained pressure on the Bank…
New face to front foreign exchange policy in Japan
Zembei Mizoguchi became Japan's new voice on foreign exchange policy Tuesday, taking on the tough task of deciding when and by how much to intervene in the market to halt a rapid rise in the yen, analysts said. Speculation also mounted that Haruhiko…
Afghan currency strengthening - bank official
The governor of the Afghan central bank has said that following the redenomination, the value of the new Afghan currency against the dollar increased.
Argentina agrees IMF plan
Argentina has taken a crucial step towards securing further loans for its troubled economy by accepting an outline proposal from the International Monetary Fund (IMF).
Former Turkmen central banker gets 'life' - report
A report on Monday said that the former president of Turkmenistan's central bank Hudayberdi Orazov, who headed the central bank for six years from 1993 to 1999, has been given a life jail sentence (in his absence) for his involvement in the recent…
BIS meeting - Central bankers wary of Iraq war
Central banks need to watch the situation in Iraq closely and be prepared to act to stop any war damaging a modest world economic pickup in 2003, Bank of England Governor Sir Edward George said on Monday at a regular BIS meeting in Switzerland.
Former Turkmen central bank chiefs trial starts
Thirty-two members of a conspiracy to assassinate Turkmen President Saparmurat Niyazov and overthrow the government will face trial this week. Hudaiberdy Orazov, former head of the central bank of Turkmenistan is one of those charged.
China's c bank outlines money laundering rules
The People's Bank of China's first major policy directive under the helm of its new governor, Zhou Xiaochuan, outlines new measures to combat money laundering through the country's domestic banking system.
Gretta Duisenberg apologises for 'Nazi' remarks
Gretta Duisenberg has apologised for saying last week that the Israeli occupation of Palestinian territories was worse than the Nazi occupation of the Netherlands - with the exception of the Holocaust.
BIS Press Release
PRESS RELEASE - Following a proposal by Nout Wellink, Chairman of the Board of Directors and President of the Bank for International Settlements (BIS), the Board of Directors on 13 January appointed Malcolm D Knight as the Bank's new General Manager.
Report - UK on track to pass euro convergence test
The economies of Britain and the euro-zone have converged since the new euro currency was launched four years ago - and there is no sign that this general trend will end, according to a study by PricewaterhouseCoopers, the accounting firm.
BOJ Hayami: Decision on successor not imminent
The appointment of the next Bank of Japan (BOJ) governor is not imminent, and it will take some time for a decision to be reached, current governor Masaru Hayami was quoted as saying on Monday. On Friday we reported how there were conflicting statements…
Bank of Canada's Malcolm Knight appointed at BIS
After a four month search the BIS finally announced who would replace Andrew Crockett at the Bank for International Settlements on Monday. The new General Manager will represent the first non-European in the BIS's 73 year history.
Bank of Canada Press Release
PRESS RELEASE - Senior Deputy Governor Malcolm Knight appointed new General Manager of the Bank for International Settlements, 13 January.
Issing: CPI risks balanced, downside growth risks
The European Central Bank still believes euro-zone economic growth will gradually recover this year, while inflation will slowly fall back below 2%, ECB Chief Economist Otmar Issing said in a speech on Monday.
Dollar hits three-year low against the euro
The dollar fell to a three-year low against the euro Thursday, as investors continued to lose confidence in US assets and expectations grew of an imminent Iraqi war.
Jamaica introduces deposit requirements
The Bank of Jamaica (BOJ) has instituted a so-called Special Deposit Requirement for commercial banks and institutions licensed under the Financial Institutions Act.
Bank of Jamaica Press Release
PRESS RELEASE - Bank of Jamaica Special Deposit, 9 January.
BoJ can take bolder measures: Takenaka
The Bank of Japan (BoJ) could take more radical action to boost the ailing economy such as setting an inflation target, Financial Services and Economy Minister Heizo Takenaka said on Friday.
Klein: Israel should rely less on foreign workers
Israel must take urgent action to reduce the number of foreign workers, Bank of Israel Governor David Klein said on Thursday night in a lecture to the Israel-Japan Chamber of Commerce in Tel Aviv.
Dinkic is a "collaborator": Mihajlovic
Embattled police minister Dusan Mihajlovic has lashed back at allegations against him by National Bank Governor Mladjan Dinkic.
Israel's PM summons bank governor over gaffe
Prime Minister Ariel Sharon summoned Governor of the Bank of Israel David Klein for an urgent meeting, following Klein's comments in the media in recent days, it was reported.