News
RBNZ runs out of coins in Xmas lead up
Just five weeks after phasing out the old coins, the Reserve Bank of New Zealand has now written to the country's retail banks warning them there will be a shortage of the new 20 cent pieces in the lead up to the busy Christmas period.
China needs to manage FX reserves - economist
China needs to set up a new institution to manage part of its huge foreign exchange reserves now estimated to be over 1 trln usd, the official Shanghai Securities News reported Monday 4 December, citing a state economist.
SA's Mboweni unconcerned about rand
The governor of the South African Reserve Bank, Tito Mboweni, is unperturbed by the level of the rand, but remains worried about rising debt levels and rampant consumer spending.
Central bankers in Islamic FSB
The governor of the State Bank of Pakistan, Shamshad Akhtar, has been appointed deputy chairperson of the Islamic Financial Services Board (IFSB) for 2007.
ECB sells more gold
The ECB sold 23 tons of gold on 30 November, the central bank said.
Bahrain launches money market forum
The Central Bank of Bahrain (CBB) has established a money market forum to provide a platform for discussion on market development and structural issues in the Bahraini Dinar money markets.
BoE's King cool on soaraway sterling
Mervyn King, governor of the Bank of England, seemed unperturbed by the recent surge in the value of the pound relative to the dollar.
Brazil cuts rates by half a point
The Central Bank of Brazil lowered its benchmark lending rate by 50 basis points to 13.25 on Wednesday in the face of falling growth.
Goldmans' Dudley is Fed's new markets man
The New York Federal Reserve named William Dudley, an advisory director at Goldman Sachs, as an executive vice-president and the new head of its markets group.
Ghana's currency to lose four zeros in 2007
Ghana's cedi will lose four zeroes next July 2007, a central bank official said on Monday.
Russia and Belarus governors to meet
Petr Prokopovich and Sergei Ignatyev, governors of the central banks of Belarus and Russia, respectively, will attend the 25th meeting of the Interbank Currency Council on Friday.
Russia worries about capital inflows
Russia's central bank on 29 November raised its forecast for capital inflows this year and has hinted at tighter banking reserve requirements to slow the inflow of cash.
Poland leaves interest rates unchanged
Poland's central bank held interest rates steady after a 29 November meeting, a decision that was in line with economists' expectations.
Core CPI still "uncomfortably high" - Bernanke
Fed chairman, Ben Bernanke, appeared to pour cold water on suggestions of an imminent cut in US interest rates in a speech in New York on 28 November.
Bank of Israel calls in the cops
The Bank of Israel has submitted a formal complaint to the Israel police after an internal report on the new-appointed banking supervisor was leaked to the press.
China raises renminbi value
China has raised the value of the renminbi even as its central bankers rule out major reductions in the dollar share of the country's foreign exchange reserves.
New rules for Bank of Italy chief
The Bank of Italy adopted new rules on 28 November that end the central bank governor's unrestricted decision-making powers and traditional job for life.
Bank Indonesia gets two new deputy governors
The government of Indonesia has recommended Mulaiman Hadad and Budi Rochadi as new deputy governors of the country's central bank.
UK rates have peaked - OECD
British interest rates are likely to have hit their peak according to the OECD's latest Economic Report, released on 28 November.
Canada to research inflation target
Although the Bank of Canada's inflation target will remain at 2% for the next five years, the central bank has announced a major research project on the benefits of lowering the target.
IMF ups eurozone growth forecast
The IMF's European department director, Michael Deppler, said on 28 November that the Fund has raised its eurozone growth forecast for both this year and next.
Bank of Israel cuts rates again
The Bank of Israel lowered its benchmark lending rate by 25 basis points on 27 November. This second reduction in two months takes rates to 5%.
Pakistan central bank's no-show in T-bill auction
Dealers in the Pakistani interbank market reported wild swings in short-term overnight interest rates on 27 November, triggered by the central bank's rejection of treasury market bids.
Chinese growth "low quality" says vice-governor
In a candid speech, the vice governor of the People's Bank of China, Wu Xiaoling, raised some question about the sustainability of China's economic growth.