News
World wide search for New Zealand's c bank chief
NEW ZEALAND - The Reserve Bank has appointed headhunter Signium International to scour the world for a new Governor.
ECB Padoa-Schioppa - 'excessive' talk on inflation
ITALY - European Central Bank board member Tommaso Padoa-Schioppa said the central bank has to monitor with attention the current level of euro-zone consumer prices which remain above 2.0 pct year-on-year, but believes it is "excessive" to describe the…
Banco de Brasilia fails central bank online test
BRAZIL - Brazilian bank Banco de Brasilia topped the central bank's online consumer complaint ranking in April, knocking financial group Grupo Santander Brasil from first to second place, according to information published on the central bank's site.
Yugoslav c bank converts German marks into euros
YUGOSLAVIA - About 7.9 billion German marks have been converted into euros, Yugoslav National Bank Governor Mladjan Dinkic said on Thursday.
Lithuania thwarts mafia attempt to launder money
LITHUANIA - The Bank of Lithuania, the country's central bank, has prevented a large-scale money laundering attempt by declining an application from a French national to make a huge investment in the country's fourth-largest bank, Snoras, Lithuanian…
Argentina central bank denies chairman to resign
ARGENTINA - The central bank has dismissed rumours that the resignation of its chairman, Mario Blejer, was imminent.
Outgoing MPC member criticises B of E rates record
UK - The Bank of England would have delivered a significantly more impressive performance on both growth and inflation if interest rates had been kept lower over the past few years, according to research carried out by Sushil Wadhwani, a soon to depart…
World Bank boss visits Afghanistan
AFGHANISTAN - The World Bank's president has reaffirmed his long-term commitment to the development of Afghanistan.
UK's Blair says euro poll 'getting close'
UK - Tony Blair has admitted a referendum on Britain's entry into the single European currency could be "getting close".
Fed's Moskow - Much uncertainty on U.S. recovery
US - Uncertainty lingers over the early shape of the U.S. recovery though the economy is on track for moderate growth and the long-term outlook is good, a Federal Reserve official said on Thursday.
IMF calls for regulating 'hawala' transfers
UAE - The International Monetary Fund (IMF) on Wednesday called on the informal system of overseas money transfers known as "hawala" to be regulated in the interests of the world economy.
Inflation target would have little effect-BOJ Ueda
JAPAN - A member of the Bank of Japan's Policy Board said on Wednesday an inflation-targeting policy would have little effect when the central bank has insufficient policy tools to convince markets such goals could be achieved.
IMF says HK dlr peg good but needs constant review
US - Hong Kong's dollar peg is appropriate for the region's economy, the International Monetary Fund said on Wednesday, but warned it is a policy that requires constant review.
Polish central bank head ready for gov't dialogue
POLAND - Polish National Bank (NBP) President Leszek Balcerowicz declared on Thursday he was ready for dialogue with the finance minister but believed that structural reforms and securing higher competitiveness were more important than discussions on the…
Argentina central bank chief 'may resign' rumour
ARGENTINA - Rumours that Central Bank Chairman Mario Blejer is considering stepping down were circulating among banks yesterday, newspaper Clarin reported.
Russia's forex reserves hit record 40bn dollars
RUSSIA - Russia's gold and hard currency reserves have broken a new record. The Central Bank of Russia's department of external and public relations announced on Thursday 16 May that they stood at 40bn dollars as of 10 May.
Carr's role settled at RBNZ
NEW ZEALAND - Rod Carr has been confirmed as Acting Governor of the Reserve Bank for the next six months, or until a permanent appointment has been made.
World's smallest ATM machine goes on display
UAE - Dubai-based Quick Line, which delivered a solution to produce labour cards for the Ministry of Labour and Social Affairs in 1994, has launched the world's smallest ATM called NanoCash.
Advertisement for new governor of RBNZ
ADVERTISEMENT - The Reserve Bank of New Zealand is seeking applications for the position of Governor. The position has been advertised both within New Zealand and offshore.
IMF Survey, 14 May
REPORT - Topical coverage of the IMF's activities, policies, and research. It includes an interview with Anne Krueger on the sovereign debt plan.
Unpublished IMF letter to the Wall Street Journal
LETTER - A letter by Thomas Dawson, Director of the IMF's External Relations Department, concerning the IMF's policy on Argentina. The Wall Street Journal declined to publish it.
RBNZ raises Official Cash Rate to 5.5%
NEW ZEALAND - Reserve Bank of New Zealand Acting Governor Rod Carr justifies the bank's decision to increase the Official Cash Rate in a statement, and warns of further increases over the year ahead.
Papademos underlines importance of M3
GERMANY - ECB vice-president designate Lucas Papademos said he supports the first pillar of the ECB's monetary policy strategy and that analysis of M3 money supply growth should continue.
BoJ's Ueda advises higher govt spending in Japan
JAPAN - Bank of Japan policy board member Kazuo Ueda said that a small rise in government spending may stimulate the economy without significantly affecting long-term interest rates and that the bank should aim for 1-2% inflation.