News
Senate likely to vote on Fed's Kohn June 14
The U.S. Senate Banking Committee will likely vote on the nomination of Federal Reserve Board Governor Donald Kohn to be vice chairman at the central bank on June 14, a spokesman was quoted as saying on Thursday 8 June.
Fed, under pressure, may go ahead with increase
According to this article by John Berry of Bloomberg, published Friday 9 June, Federal Reserve officials now seem likely to raise US interest rates later this month.
White House's Lazear: Stocks slide not alarming
Top White House economist Edward Lazear on Thursday 9 June played down concerns about recent declines in U.S. stock prices and weakness in the U.S. dollar.
Russia cuts US dollar holdings
Russia's central bank said on Thursday 8 June that it would cut its dollar reserves, while increasing its holdings of euros.
What did Bernanke say?
According to this editorial published Wednesday 7 June, Federal Reserve chairman Ben Bernanke is probably obsessed with central bank transparency.
Regime change?
According to this article by Steve Hanke, published 5 June 2006, in the months before the meetings of the International Monetary Fund and World Bank in April, the IMF appeared to be in its twilight.
ECB raises rates, sees further hikes ahead
European Central Bank president Jean-Claude Trichet said Thursday 8 June that the ECB is likely to raise interest rates again in future if the euro zone economy continues to recover.
Bank of Spain governor appointed to IMF post
The IMF said Wednesday 7 June it has appointed Bank of Spain governor Jaime Caruana as head of a new IMF department that will be responsible for all aspects of the Fund's financial, capital market and monetary work.
BOJ urged to maintain zero rate policy
Japan's government has urged the central bank to maintain its zero interest rates policy in order not to choke off the country's economic recovery.
Brazil's Meirelles says growth is sustainable
In an address to foreign investors on the first day of the International Conference of American Chambers of Commerce in Latin America, the president of Brazil's central bank, Henrique Meirelles, affirmed that Brazilian growth is sustainable.
Launching of Bloomberg e-bond trading system
With the support of the Central Bank of Sri Lanka and the Primary Dealer community, Wednesday 7 June, Bloomberg officially launched its e-bond trading system in Sri Lanka.
Fed's Poole sees stagflation possibility
If inflation expectations are rising, a slowing economy may not reduce inflation pressures, said St. Louis Federal Reserve President William Poole, quoted in the Wall Street Journal online edition.
Greenspan picks writer to help with memoirs
Alan Greenspan has selected a Fortune Magazine veteran, Peter Petre, to assist him on his memoirs, The New York Times reported.
Final curtain for long running BCCI 'farce'
A full and final settlement was agreed on Wednesday 7 June on costs in the proceedings brought by the Liquidators of BCCI against the Bank of England.
Greenspan sees little impact on growth from oil
Former Federal Reserve Chairman Alan Greenspan told the Senate Foreign Relations Committee in Washington that higher oil prices have had "little consequence" for a "more flexible" U.S. economy and probably haven't caused "serious erosion" worldwide.
Fed's Hoenig says too soon to be behind curve
Kansas president Thomas Hoenig said on Tuesday 6 June that monetary policy acts with a lag and, as a result, it was premature to say the U.S. central bank was "behind the curve" in raising interest rates.
The beginning of the end for inflation targeting
This article by Wolfgang Munchau published Monday 5 June in the Financial Times says that while an inflation targeting strategy has worked well for some central banks - notably the Bank of England - it did not work out as well for others.
Interview with BOJ's financial markets head
In an interview with Reuters published on Monday 5 June, Hiroshi Nakaso, director-general of the Bank of Japan's financial markets department said the BOJ is not targeting a particular level of reserves as it draws down excess liquidity from the banking…
Philadelphia Fed names new president
The Federal Reserve Bank of Philadelphia announced Tuesday 6 June that Charles I. Plosser, a professor of economics, has been named president of the Philadelphia Fed.
BOJ's Muto says no set timetable on rate rise
Bank of Japan deputy governor Toshiro Muto said on Monday 5 June the central bank has no timetable for raising interest rates.
PBOC's Zhou says no monetary tightening plan now
People's Bank of China governor Zhou Xiaochuan has said the PBOC does not plan to start further monetary tightening measures and will instead wait to assess the impact of its previous policy action.
Trichet warns on 'excessive dynamism' in prices
European Central Bank President Jean-Claude Trichet said on Monday 5 June it was important to take into consideration "excessive dynamism" in asset prices because of the potential inflationary effects.
PBOC: China must broaden investment channels
China should consider broadening its investment channels and introduce more investment products to absorb rising liquidity in the banking sector, central bank governor Zhou Xiaochuan said in a Securities Times report.
Costa Rica selects OpenLink's Findur
OpenLink, a leading provider of financial and commodity trading, risk management, and operations processing software solutions, announced Monday 5 June that Costa Rica's central bank, Banco Central de Costa Rica (BCCR), has licensed Findur, the company's…