News
ECB says pan-euro settlement system to cut costs
The European Central Bank said Tuesday 16 January it believes the implementation of an integrated securities settlement system in the euro zone could cut settlement costs by up to 90%.
HKMA says real-time bond system ready 5-6 weeks
The real-time settlement system for yuan-denominated bond issues in Hong Kong will be ready in 5-6 weeks, HKMA chief executive Joseph Yam said in Beijing Tuesday 16 January.
ECB says Slovenia's euro switch successful
Two weeks after the introduction of the euro banknotes and coins, the cash changeover in Slovenia has been successfully finalised in accordance with the plans, the European Central Bank said Tuesday 16 January.
Kyodo says BOJ unlikely to raise rates this week
The Bank of Japan is unlikely to raise interest rates at this week's policy meeting, Kyodo news agency reported on Tuesday 16 January, quoting "sources familiar with the matter".
Tarisa says BoT created 'uncertainty'
The Bank of Thailand deliberately created "uncertainty" in the foreign exchange market to drive out speculators from Japan and the U.S. when it imposed curbs on investment, governor Tarisa Watanagase told Bloomberg in an interview Monday 15 January.
Report says Kozlov murder suspects charged soon
Official charges will be brought soon against the suspects recently arrested in relation to the murder of first deputy chairman of the Russian central bank Andrei Kozlov, Interfax quoted Prosecutor General Yury Chaika as saying Tuesday 16 January.
Russian central bank submits board candidates
The Bank of Russia has submitted Alexei Simanovsky and Mikhail Sukhov to the State Duma as candidates for vacant seats on the central bank's board of directors, Vyacheslav Reznik, chairman of the Duma committee for credit organizations and financial…
Merkel worried by debate on ECB independence
German Chancellor Angela Merkel spoke out on economic issues in an interview Saturday 13 January, defending the independence of the European Central Bank against euro critics and calling for closer ties with the US.
PBOC researcher says reserve, rates need adjusting
A People's Bank of China researcher has said in a report that the PBOC needs to raise the reserve requirement again as well as adjust interest rates to rein in liquidity.
Economy minister calls on BoJ to hold rates steady
Japan's economic and fiscal policy minister Hiroko Ota on Monday 15 January called for the Bank of Japan to hold interest rates unchanged ahead of its meeting this week.
Bangladesh names former BB chief as caretaker head
Bangladesh's President Iajuddin Ahmed on Friday 12 January named former central bank governor Fakhruddin Ahmed to succeed him as the chief of an interim administration charged with holding elections, officials said.
EPCA conference scheduled for May
The 6th International European Payments Consulting Association (EPCA) Conference will be held in Frankfurt on 15 and 16 May 2007. This year's theme is 'Reshaping the European payment landscape: the realistic scenarios'.
Court sanctions arrest of Kozlov murder suspect
A Moscow court on Monday 15 January sanctioned the arrest of a banker detained last week in connection with the investigation into the murder of a senior Russian central bank official.
Mboweni says SARB independent despite shareholders
Although the South African Reserve Bank is controlled by the government and private shareholders it is one of the most independent central banks in the world, Reserve Bank governor Tito Mboweni said in an article published Friday 12 January.
Dallas Fed names Issing for globalisation study
The Federal Reserve Bank of Dallas has said Otmar Issing will advise its new think tank on the impact of globalisation on the international economy.
Boston's Minehan says she will retire this year
Federal Reserve Bank of Boston president Cathy Minehan said Thursday 11 January she plans to retire later this year but will stay in place until her successor is named.
BoJ's Fukui says economy expanding moderately
Bank of Japan governor Toshihiko Fukui reiterated Friday 12 January that the economy is still growing gradually and that he expects the recovery to continue.
Bank of Japan seen leaning toward raising rates
The Bank of Japan is leaning towards raising interest rates at next week's policy board meeting, with consumer spending remaining firm and worries of a US economic slowdown receding, the Nikkei reported Friday 12 January, without citing sources.
Trichet says 'very close monitoring' on price risk
European Central Bank president Jean-Claude Trichet told a press conference on Thursday 11 January that the ECB will act in a "firm and timely manner" to ensure price stability but did not reintroduce a commitment to exercise "vigilance" on inflation…
Skrzypek named head of Poland's central bank
Poland's new central bank governor, Slawomir Skrzypek, a close ally of president Lech Kaczynski, was confirmed by parliament Wednesday 11 January. At a parliamentary hearing Skrzypek had earlier confused the deceased Wim Duisenberg with Jean-Claude…
Germany's Steinbrueck defends ECB independence
Germany said Thursday 11 January it would not put up with any change in the independence of the European Central Bank.
ECB chief defends central bank independence
Speaking at the press conference following a meeting of the ECB's governing council, ECB president Jean-Claude Trichet said that it was up to all European Union states to ensure independence of their central banks.
BoE surprises markets with rate rise
The Bank of England unexpectedly raised interest rates by a quarter-point on Thursday 11 January, the third increase since August, saying inflation may accelerate.
Gulf Arabs reviewing dollar pegs - report
Gulf Arab oil producers are reviewing currency pegs to the US dollar and could decide as early as March whether to keep or change their exchange rate regime, the United Arab Emirates central bank chief told Reuters Thursday 11 January.