News
ECB report says EU banks need to exercise caution
The European Central Bank said in a report on Tuesday 7 November that EU banks need to exercise caution with their mortgage lending because of the risk of some households getting into financial difficulties.
BoJ likely to raise interest rates before year end
Speaking at a seminar in Tokyo on Tuesday 7 November, the governor of the Bank of Japan, Toshihiko Fukui, indicated that he would be in favour of raising interest rates in anticipation of higher inflation.
RBA raises rates to 6.25%
The Reserve Bank of Australia has increased the official cash rate by 25 basis points to 6.25% as widely expected, after its monthly monetary policy meeting on Wednesday 8 November.
SNB names new head of asset management
As of 1 December 2006, Sandro Streit will succeed Thomas Stucki as Head of Asset Management at the Swiss National Bank.
Hildebrand named new SNB vice-president
The Swiss government on Wednesday 8 November named Philipp Hildebrand as the new vice-president of the Swiss National Bank (SNB) as of May next year, replacing Niklaus Blattner, who will retire.
Eurozone cbs well prepared for financial crisis
The European Central Bank said Monday 6 November a series of "stress testing" exercises have shown that eurozone central banks are well prepared to cope with a financial crisis.
Fed's Pianalto says US can withstand housing slump
The U.S. economy will withstand the housing slump and grow at a ``moderate'' pace with slowing inflation, Cleveland Federal Reserve Bank president Sandra Pianalto said Monday 6 November.
Greenspan says downturn 'likely temporary'
The current economic downturn is "likely temporary," former Federal Reserve Chairman Alan Greenspan said Monday 6 November, noting that the worst of the housing market slump is likely over.
BOT revises rules to curb baht gains
The Bank of Thailand on Tuesday 7 November asked financial institutions not to sell baht bills of exchange to non-residents in an attempt to prevent speculation on the currency's appreciation.
IMF's Lipsky calls for SA vigilance on rates
South Africa has responded "appropriately" to rising inflationary pressure but needs to remain vigilant, IMF first deputy managing director John Lipsky said on Tuesday 7 November.
IMF's Rato sees need for euro rate increase
Rodrigo Rato, head of the International Monetary Fund, on Tuesday 7 November warned that further European interest rate rises would be needed to keep inflation under control as the economic recovery continues.
EU's Almunia says Cyprus, Malta meet euro criteria
EU economic and monetary affairs commissioner Joaquin Almunia said Monday 6 November after the publication of a report that Cyprus and Malta will be ready to join the eurozone by 2008.
Canada's banknotes getting mangled in old machines
A document quoted by the Canadian Press on Monday 6 November says that the Bank of Canada's currency counting machines need replacing to stop tatty bills getting stuck in the machines.
Qatar rules out reserve policy shift
Qatar central bank governor HE Sheikh Abdullah bin Saud al-Thani said Sunday 5 November that the Qatar has no plans to change its policy on foreign exchange reserves.
PBOC's Fan says 5% p.a. yuan rise possible
People's Bank of China adviser Fan Gang said Monday 6 November in an article in the Wall Street Journal that the yuan could appreciate on average by 5 percent a year in coming years, but a more dramatic rise would be disastrous for Chinese growth and…
China's Su on fixed assets investment expansion
China's fixed asset investment is still under potential pressure of further expansion despite controls imposed this year, a senior official with China's central bank told the 10th CEO Forum on Saturday 4 November.
State TV reports China's reserves top 1trn USD
China's foreign exchange reserves have topped the 1.0 trillion US dollar level, state television CCTV said on Monday 6 November.
Polls see BoE raising rates 0.25% next week
The Bank of England is set to raise rates by a quarter point next week according to two recent City polls.
IMF's Leipold says France can do better
Despite a positive assessment of France's economic performance and policies, the country "needs to do better" the IMF said.
Controlling inflation is immediate goal for India
India's finance minister said on Friday 3 November controlling inflation expectations was the government's immediate goal and it would use all fiscal and monetary measures to bring down inflation towards 4 percent.
RBA appoints head of payments policy
The Reserve Bank of Australia announced Friday 3 November the appointment of Ms Michele Bullock to the position of Head of Payments Policy Department.
Fed's Fisher says main goal is inflation control
Federal Reserve Bank of Dallas President Richard Fisher said Thursday 2 November that keeping inflation in check is the central bank's primary goal.
Iceland to strengthen foreign reserves
In recent months, the Ministry of Finance and Central Bank of Iceland have been engaged in discussions on strengthening the Central Banks foreign reserves, the central bank said Friday 3 November.
Muto says BoJ monitoring corporate investment risk
Bank of Japan deputy governor Toshiro Muto told a parliamentary hearing on Thursday 2 November that the BoJ does not consider domestic corporate capital investment overheating now but will monitor it for upside risks to growth.