News
BOJ set to end ultra-easy policy - report
Senior Bank of Japan officials have decided to submit a proposal to end the central bank's super-loose monetary policy at next week's BOJ board meeting, two Japanese news agencies reported on Friday 3 March.
Renminbi Settlement System goes live
The Hong Kong Monetary Authority (HKMA) and the Bank of China (Hong Kong) Limited (BOCHK) jointly announced on Thursday 2 March the launch of the new Renminbi Settlement System (RSS) on 6 March 2006.
Papademos to be named ECB chief economist - report
European Central Bank (ECB) vice president Lucas Papademos will replace Otmar Issing as chief economist in May, the Sueddeutsche Zeitung reported, citing unnamed sources close to the bank.
ECB poses no objection to Stark's appointment
At Thursday's meeting, 2 March, the Governing Council of the ECB adopted an opinion on a recommendation from the Council of the European Union on the appointment of a new member of the Executive Board of the ECB.
ECB raises rates, says more rises are possible
The European Central Bank raised its benchmark interest rate on Thursday 2 March for the second time in three months and suggested more hikes are possible as economic growth and inflation accelerate.
Report says BOJ considering 'reference rate'
The Bank of Japan is considering setting a 'reference rate' on inflation to guide markets on its monetary policy intentions, Jiji Press and other media reported.
Significant progress on global financial stability
Senior regulators, who met on Wednesday 1 March, said that progress had been made in improving the stability of the global financial system, but noted that much more needed to be done.
Fed's Kroszner sworn in
Randall S. Kroszner took the oath of office on Wednesday 1 March as a member of the Board of Governors of the Federal Reserve System.
Adams says Japan's deflation fight almost over
A senior U.S. Treasury official indicated on Wednesday 1 March that Japan has nearly beaten deflation, and China should allow its currency to be more flexible.
SARB's Mboweni blasts 'know-it-all' IMF
South African Reserve Bank governor, Tito Mboweni, slammed the IMF and World Bank on Tuesday 28 February for what he called their high handedness and know it all approach when dealing with developing countries.
Japan's LDP won't meddle with BOJ
One of Japan's ruling party lawmakers told Reuters on Wednesday 1 March that it is up to the Bank of Japan when it ends its ultra-easy policy so long as steps to contain bond yield spikes are in place.
Gold rally expected as central banks cut sales
Gold may rally in coming months as central banks reduce sales of bullion reserves, New York commodity researcher CPM Group said in its annual outlook report released Tuesday 28 February.
PBOC official sees slow dollar reserves shift
The director of the People's Bank of China's research department said on Tuesday 28 February that although China is moving toward diversifying its reserves, anyone thinking the change would be quick was misunderstanding the process.
Japan's economy minister rejects target idea
Japan's economy minister rejected the idea of inflation targets on Tuesday 28 February , calling on the Bank of Japan to instead adopt a flexible approach.
BoEs Bean warns of energy cost risks
British businesses and consumers face the real risk of another spike up in energy costs, the Bank of England's chief economist was reported as saying.
Botswana to introduce formal inflation target
Botswana's central bank has introduced a formal inflation target of 3% - 6% for the coming three years, according to a statement released by the bank.
IMF likely to raise Japan growth forecast
The International Monetary Fund will likely revise its forecast of 2.0 percent growth for Japan in 2006 "significantly" upwards, a senior IMF official said on Tuesday 28 February.
EurAsEC central bankers meet in Belarus
The XIVth session of EurAsEC Council of the heads of central banks was held in Minsk on Monday 27 February.
BoE says payment covers all stolen notes
The Bank of England said on Friday 24 February that the £25 million payment made by Securitas on Wednesday covers all the stolen notes belonging to the central bank.
Japan's PM says govt would tolerate BOJ shift
Japanese Prime Minister Junichiro Koizumi indicated on Monday 27 February that the government would be prepared to tolerate a move by the Bank of Japan in lifting its ultra-easy policy as early as March.
Economist calls for cut in China's dollar reserves
Economics professor Xiao Zhuoji said in an interview published on Monday 27 February that China should cut its share dollars in its foreign exchange reserves due to risks posed by the dollar's instability.
Bulgaria doing everything to join euro
Bulgarian Prime Minister Sergei Stanishev told European Central Bank President Jean-Claude Trichet on Monday 27 February that his government was doing everything possible to join the EU as soon as possible and to introduce the euro in 2009.
BI to introduce Sharia Banking Committee
Bank Indonesia intends to develop Sharia Banking Committee (KPS) as the regulatory body for sharia banks.
Bernanke says bad idea to manage asset prices
The Federal Reserve has to pay close attention to asset prices because they affect the economy, according to Fed chairman Ben Bernanke, but it is not a good idea for the US central bank to try to affect their prices directly.