News
No rates change, recovery "gradual" - BoK's Park
The Bank of Korea (BoK) on Thursday 10 November left its benchmark short-term interest rate unchanged at 3.5 percent. The decision was widely expected by market participants, following a 25 basis point increase last month.
Shariah guidelines
Comments by delegates attending a conference on Islamic financial services in Luxembourg suggest that Shariah guidelines present a headache for central bankers.
New central banking appointments
A number of new appointments in key central banking positions were announced last week.
Comment: Unresolved collateral issues remain
The news that the ECB will only accept sovereign debt with an A- rating or higher as collateral for repurchase agreements and other collateral financing trades with commercial banks will help to instil fiscal discipline on member countries in the long…
BoE: no rates change
The Bank of England left its main interest rate yesterday, 9 November, unchanged at 4.5% for the third month in succession. The decision was widely expected after recent comments by Mervyn King, governor of the Bank, indicating he was against rate cuts.
French economy's lights "turn green"
Economic growth in France picked up in the third quarter, while inflation subsided in October. Data released on 10 November showed that the economy expanded by 0.7 percent in the third quarter, while October inflation figure was down to 2 percent…
Drop exchange controls: SARB's Mboweni
South African Reserve Bank (SARB) governor raised some eyebrows on Wednesday evening, when he told a conference audience in Cape Town that the country's remaining foreign exchange controls have become "purposeless" should be abolished.
ECB's Target 2 delayed
The ECB has announced that the launch of Target 2 has been further delayed. The first group of countries will move to the EU's new large-value payment system on 19 November 2007, 11 months later than originally planned.
Aid response "not so great" - Husain
Pakistan's central bank governor, Dr Ishrat Husain, has expressed his disappointment at the "not so great" aid response to the devastating earthquake which hit the country last month.
McCreevy favours legal action over Fazio
European Union (EU) internal market commissioner, Charlie McCreevy, said on Tuesday that he favoured legal action against Italy over the way the country's central bank handled two foreign bank takeover bids earlier this year.
Turkish interest rate cut
The Central Bank of Turkey (CBRT) yesterday, 8 November, cut short-term interest rates by 25 basis points, bringing the overnight borrowing rate and the lending rate to 13.75 percent.
ECB's Weber sees inflation risks
Bundesbank president and ECB governing council member, Axel Weber, told reporters at a news conference on 8 November that risks to price stability have increased in the eurozone in recent weeks, primarily due to a rebound in economic growth, soaring oil…
Comment: The ECB clarifies collateral policy
President Jean-Claude Trichet's clarification yesterday that the ECB would only accept sovereign debt with a rating of A- or higher as collateral for loans to commercial banks, is likely to have policymakers in Italy and Greece and a number of eurozone…
BoK feels the pinch
Bank of Korea (BoK) officials are up in arms about alleged plans by the government to scrap some of the central bank's 16 regional headquarters and cut its payroll.
Brazilian CB reduces number of meetings
The Central Bank of Brazil will lengthen the period between its interest rate policy meetings to 44 days from the current 30 days.
Colombian CB continues to sell reserves
The Colombian central bank sold $114 million in foreign exchange reserves to the government last week.
Euro ministers warn against rate hikes
Finance ministers meeting in Brussels renewed their calls for the European Central Bank to refrain from interest rates hikes.
Georgian battle over CB capital
The National Bank of Georgia (NBG) and the government look set for a stand-off over the bank's capital.
Jordan's interest rates on the move
The Central Bank of Jordan (CBJ) governor, Umayya Touqan, announced on Sunday 6 November that interest rates on repurchase agreements for a week would be raised by 25 basis points.
Interview with PBOC's Tang Xu
In an interview published on Wednesday 2 November, Tang Xu, director-general of the research bureau of the People's Bank of China, said China's economy has already achieved its long-awaited landing even with growth rates around 9 percent.
Swaziland appoints new board member
Finance Minister Majozi Sithole has appointed Swaziland Finance and Development Corporation CEO Vincent Mhlanga to the Central Bank of Swaziland's Board of Directors.
Ireland's Hurley ranked tops for pay
Central Bank of Ireland governor John Hurley was listed as the third-highest paid governor in the twelve-nation eurozone this week, even though he leads the smallest central bank.
Lazear may replace Bernanke on Advisory Council
US President George W Bush may replace Ben Bernanke with Edward Lazear as chairman of the White House Council of Economic Advisers, a report quoted sources as saying.
With Bernanke at bat, Fed will target inflation
According to this recent article, Ben Bernanke will devote significant staff resources to further study on issues he has spoken and written about, when he takes over at the Fed. And the advantages of his approach will become overwhelming enough in the…