News
Central banks to add MBS, agencies, gold
According to this article by Reuters, published Wednesday 14 June, central banks are planning to diversify foreign reserves away from US government debt into higher-yielding assets, including mortgage bonds.
BOI tops public servant 'fat cat' list
This article from The Jerusalem Post, published Tuesday 13 June, quotes a report from the Wage Supervisor's Office 2004 annual report as saying that senior Bank of Israel staff accounted for the top 14 most highly paid public servants.
Zhou: China to reconsider financial service limits
People's Bank of China governor Zhou Xiaochuan told a banking conference in Beijing that China needs to reconsider regulations limiting the range of services banks and other financial institutions can offer.
Fukui says reserve level reduction nearly complete
Bank of Japan governor Toshihiko Fukui said Thursday 15 June that the reduction in the level of banks' current account reserves at the BOJ is nearly complete.
HKMA announces formation of AML Working Group
The Hong Kong Monetary Authority announced Tuesday 13 June the formation of the Industry Working Group on Prevention of Money Laundering and Terrorist Financing. Functions include encouraging the sharing of AML experiences and techniques among authorised…
New global note arrangement for debt securities
The ECB confirmed Monday 12 June that the so-called New Global Note (NGN) arrangement for international debt securities is in compliance with the Eurosystem's Standards for the use of EU securities settlement systems in ESCB credit operations.
Bernanke says world better with flexible yuan
Federal Reserve chairman Ben Bernanke said on Monday 12 June both China and the world economy would be better off if China allowed the value of its yuan to be determined by a more flexible, market-determined system.
Meirelles: Brazil's CPI expectations 'anchored'
Brazil's central bank president Henrique Meirelles has said inflation expectations among investors are "well anchored" in Latin America's biggest economy.
Mersch says ECB ready to raise rates again
With inflationary pressures evident in the eurozone, the European Central Bank stands ready to raise interest rates again whenever necessary, Governing Council member Yves Mersch said at the presentation of the Luxembourg central bank's annual report.
Senate backs Kohn's Fed nomination
The Senate Banking Committee on Wednesday 14 June approved the nomination of U.S. Federal Reserve governor Donald Kohn to be vice chairman at the central bank, sending it to the full Senate for a final vote.
China appoints new central bank vice-governor
China's state council has named Liu Shiyu, the former assistant to the governor of the People's Bank of China, as the new central bank vice-governor.
Buba's Meister warns on Euronext/NYSE plans
Bundesbank Executive Board member Edgar Meister said in an interview that a merger between Euronext NV and the New York Stock Exchange would stop the process of integration in the financial markets of Europe, and could possibly disrupt it for a longer…
Trichet is right to be nervous about inflation
According to this article by the Financial Times, published Monday 12 June, Jean-Claude Trichet and his ECB colleagues are nervous about inflation and rightly so.
Fukui says BoJ will 'carefully watch' markets
Bank of Japan governor Toshihiko Fukui told a parliamentary hearing on Tuesday 13 June that the central bank will "carefully watch" the impact of financial markets on the real economy.
Clearly, Greenspanese isn't his language
According to this article by The New York Times, published Sunday 11 June, Federal Reserve chairman Ben Bernanke has shown in recent comments that he knows how to send a message.
Koizumi: 'No problem' on Fukui quit calls
Japanese prime minister Junichiro Koizumi suggested Tuesday 13 June that there are no plans to replace Bank of Japan governor Toshihiko Fukui over his investment in the fund founded by Yoshiaki Murakami, who was arrested on suspicion of insider trading.
IMF admits double counting on gold
The IMF has released a paper that discusses the practice of double counting of gold reserves by central banks.
RBI's Reddy says monetary policy 'in sync'
Reserve Bank of India governor Y. V. Reddy said on Saturday 10 June that the recent increase in overnight interest rates was necessary so that India was not "out of sync" with the monetary developments in the world.
RBNZ publishes history book
The Reserve Bank of New Zealand history book 'Innovation and Independence: the Reserve Bank of New Zealand 1973-2002', was published by Auckland University Press on Monday 12 June.
Fed's Reinhart: Draw firm line on inflation
Top U.S. Federal Reserve staffer Vincent Reinhart said on Friday 9 June that experience tells us it is important to draw a firm line in the fight against inflation.
G8 express optimism on world economy
Finance ministers from the G8 nations predicted a year of strong economic growth on Saturday 10 June at a meeting in St. Petersburg.
BOZ appoints new spokesperson
The Bank of Zambia announced Monday 12 June that it has appointed Penlope Mapoma as it's Head of Public Relations.
BOJ's Iwata sees chance of sustained growth
Bank of Japan deputy governor Kazumasa Iwata said on Thursday 8 June that Japan's economy was moving from a period of deflation to normal growth.
Weber: Rate moves not subject to FX considerations
Bundesbank president and European Central Bank council member Axel Weber said Friday 9 June that the ECB cannot make interest rate decisions with reference to the level of the euro.