News
Hosokawa says imbalances unlikely as G8 topic
Japan's top financial bureaucrat said Monday 5 June that the issue of global economic imbalances is unlikely to be a major discussion topic during the meeting of G8 finance ministers Friday and Saturday.
IMF says Persian Gulf should consider peg
Persian Gulf countries preparing to establish a single currency should consider pegging to the euro as well as the dollar, according to the International Monetary Fund.
IMF approves Lipsky as first deputy MD
The International Monetary Fund's board on Thursday 1 June approved John Lipsky as IMF first deputy managing director, the second-highest position at the Fund.
BoJ's Muto to visit Washington June 4-8 for IMC
Toshiro Muto, deputy governor of the Bank of Japan, will visit Washington D.C. to attend the International Monetary Conference, the central bank said Friday 2 June.
Getting to the bottom of foreign currency reserves
According to this recent article from The Japan Times, the news about sharp increases in foreign reserves held by emerging economies has been big news in Japanese papers.
ECB reshuffle aims for collegiate mood
According to the article "ECB reshuffle aims for collegiate mood and focus on policy" published by the FT on Friday 2 June, the European Central Bank has divided the role of its chief economist in a move that will allow an evolution in ECB thinking and…
Interview with Otmar Issing
In an interview published Thursday 1 June, outgoing ECB chief economist Otmar Issing said his parting message to his ECB colleagues was to get to grips with inflation.
Burhan Goklemez named dep gov in Turkey
Turkey named central bank insider Burhan Goklemez as a deputy governor of the bank on Wednesday 31 May.
Central bankers to hold panel meeting
Top central bankers from Europe, Japan and the United States will participate in a panel meeting in Washington on Monday 5 June.
Kohn Senate hearing set for 8 June
The Senate Banking Committee said on Thursday 1 June that it will hold a hearing on the nomination of Federal Reserve governor Donald Kohn to be vice chairman at the Fed next Thursday.
ECB plans meetings in Dublin, Vienna in 2007
The European Central Bank said on Friday 2 June that it will hold meetings of its governing council in Dublin and Vienna next year.
Fed minutes show uncertainty on future hikes
Federal Reserve policymakers at their May meeting considered raising a key interest rate by half a percentage point before deciding on a quarter-point increase, minutes published Wednesday 31 May showed.
ECB announces distribution of responsibilities
Within the framework of its collective responsibility for the overall functioning of the business areas of the European Central Bank, the Executive Board of the ECB agreed Thursday 1 June on a distribution of responsibilities among its members, with…
BoJ's Haru urges caution on rate moves
Bank of Japan board member Hidehiko Haru said on Thursday 1 June that the central bank need not end its zero interest policy too fast, and must avoid surprising markets.
BOJ's Fukui sees slow rate rises
Bank of Japan governor Toshihiko Fukui said the central bank would raise interest rates slowly and would proceed without focusing on one particular economic indicator, Bloomberg News reported on Thursday 1 June.
Russian reserves hit all time high
Russia's gold and foreign exchange reserves, boosted by record world oil prices, have touched an all-time high of $243.3 billion, the central bank said on Thursday 1 June.
Adviser says China should buy gold with reserves
China should use its foreign-currency reserves to buy gold and oil as a hedge to guard against the risk of a sudden drop in the U.S. dollar, according to a member of the central bank's advisory board.
Bernanke subcommittee to explore communication
Federal Reserve chairman Ben Bernanke has called on three experienced Fed officials to explore a broad range of issues related to how the Fed talks to financial markets.
Bank of Jamaica to stick with US dollar reserves
The governor of the Bank of Jamaica, Derick Latibeaudiere, has said that the central bank will continue to maintain Jamaica's net international reserves (NIR) in U.S. dollars.
Former Fed chair Volcker faults US policy
Former chairman of the Federal Reserve Paul Volcker has said US policy abroad is too abrasive.
PBOC to increase yuan flexibility
The People's Bank of China said in its first quarter monetary report that it will increase the flexibility of the yuan's exchange rate mechanism and intervene less in determining the currency's value.
ECB's Wellink says ECB should raise rates
European Central Bank council member Nout Wellink said in an interview that interest rates need to be increased because of rising inflation expectations.
Japan's Tanigaki sees continuity with Paulson
Japanese Finance Minister Sadakazu Tanigaki said Wednesday 31 May that he does not believe, at least for now, that there will be a change in the U.S. foreign exchange policy under Treasury Secretary nominee Henry Paulson.
RBA's Stevens calls for continuity
Glenn Stevens, deputy governor of the Reserve Bank of Australia, has called for "continuity" above all else when it comes to finding a replacement for governor Ian Macfarlane in September.