News
Interview with ECB's Otmar Issing
In comments published on Monday 19 December, European Central Bank Executive Board member Otmar Issing said even if it is not in line with the spirit of the Treaty, he expects "voices" on the ECB's policy to continue, although not at the level we have…
Interview with ECB's Lucas Papademos
Lucas Papademos, vice president of the European Central Bank, said in comments published on Monday 19 December that labour market inflexibility meant that Eurozone countries are at risk of inflation accelerating even as unemployment remains …
Mario Draghi favourite for Bank of Italy governor
A former head of the Italian treasury, Mario Draghi, is favourite to become the next head of the Bank of Italy following the resignation of Antonio Fazio.
Richmond's Lacker says rate decisions more complex
The president of the Federal Reserve Bank of Richmond said Thursday short-term U.S. interest rates probably won't reach a plateau and then remain steady as financial markets now predict.
LDP's Nakagawa says nominal GDP also BOJ target
A senior Liberal Democratic Party executive expressed concern on Thursday 22 December over the Bank of Japan's move to end its policy of quantitative monetary easing as early as next spring.
Italian Senate approves central bank reforms
The Italian Senate the gave final approval on Friday 23 December to a bill that will reform the Bank of Italy.
China says economic growth no threat
China has repeated its intentions to rise peacefully as a global power, insisting that its new found economy would be beneficial to the world.
Bundesbank to decide on gold reserves next year
Germany's Bundesbank will decide next year whether to dispose of its gold reserves, the Financial Times Deutschland reported.
Senate approves former regulator to Chile cen bank
Chile's senate has approved the appointment of former banking regulator Enrique Marshall as the new central bank director for the next 10 years, local press reported.
Padoa-Schioppa to join IASB
Paul Volcker is to be replaced by Tommaso Padoa-Schioppa as head of the trustees who oversee international accounting standards.
White House moving quickly on Fed vacancies
White House Spokesman Scott McClellan has said that the administration is moving "as quickly as we can" to fill the two current vacancies on the Federal Reserve Board of Governors.
Germany nominates Stark for ECB Board
The German government has nominated Bundesbank Vice-President Juergen Stark to join the European Central Bank's Executive Board when its chief economist, Otmar Issing, retires next year.
Fukui sees strong chance of core CPI rising
Bank of Japan governor Toshihiko Fukui said in a speech on Thursday 22 December that there is a good chance that Japan's core consumer price index will increase steadily as the world's second-largest economy starts beating deflation.
Trichet defends ECB's rate rise
European Central Bank President Jean-Claude Trichet told Der Spiegel magazine that the ECB's recent decision to increase interest rates would increase confidence and encourage investment in the eurozone.
Argentina to pay off IMF debts at start of 2006
Argentine President Nestor Kirchner said on Wednesday 21 December that his country will clear its debt with the International Monetary Fund on 2 January next year, instead of the previously announced next Thursday.
Deloitte awarded contract at Irish central bank
Deloitte and Touche has been awarded a contract to carry out an external audit at the Irish central bank.
Thailand to speed up adoption of e-payment
The Bank of Thailand plans to accelerate the adoption of electronic payment in place of cash and cheque settlement to cut financial costs and ensure efficient and quick services.
Bank of England voted 8-1 to hold rates
Bank of England Monetary Policy Committee members voted 8- 1 to keep interest rates unchanged this month, the first split vote since August, minutes released on Wednesday 21 December showed.
Two BOJ dissenters unite, minutes show
Minutes from the Bank of Japan's November board meeting released on Wednesday 21 December showed two members united in calling for a cut in the target for excess funds in the financial system, consolidating their previously separate proposals into one.
PBOC vows to keep stable yuan
China's central bank has released a report saying it will keep the yuan stable at a 'balanced and reasonable level' but that it also sees increasing flexibility in the exchange rate.
Argentina sells bonds to Venezuela
Argentina sold $496 million in bonds to Venezuela to help boost its international reserves as it prepares to pay back the $9.8 billion it owes the International Monetary Fund.
China statistician calls yuan reforms 'successful'
China's top statistician Li Deshui said on Tuesday 20 December that China's exchange rate reform is "successful", noting that the policy "should not be changed so frequently."
Bank of Portugal offloads 10 tonnes of gold
The Bank of Portugal has said it has sold 10 tonnes of gold from its reserves over the past month.
Trichet says ECB 'fully respects' Fazio's decision
The European Central Bank "fully respects" the decision of Bank of Italy governor Antonio Fazio to resign, its president, Jean-Claude Trichet, said in a statement.