News
IMF's Rato offers condolences on bombings
International Monetary Fund Managing Director Rodrigo de Rato made a statement on Sunday 1 October expressing his deepest condolences at the terrorist attack in Bali.
Atlanta's Guynn says Fed work not done on rates
Atlanta Federal Reserve President Jack Guynn said in an interview on Monday 3 October that the Federal Reserve's 15-month interest rate hike campaign still has "a way to go" before completion.
Wellink warns against protectionism over China
Dutch central bank President and ECB Governing Council member Nout Wellink said Monday 3 September that European countries shouldn't resort to protectionism as a response to increased competition from China.
BoJ's Haru sees chance to lift super-loose policy
Hidehiko Haru, one of the Bank of Japan's nine policy board members said the BoJ sees the possibility of lifting its four-and-half-year long ultra-loose monetary policy in early 2006, but cautioned that the move would not be rushed.
IMF official calls for BOJ to 'be cautious'
A senior International Monetary Fund official on Monday 3 September urged the Bank of Japan to "be cautious" about ending its quantitative credit easing policy.
Bank of England rejects BCCI settlement offer
The Bank of England said on Tuesday 4 October that it had rejected a recent approach to settle a £1 billion lawsuit involving the collapse of Bank of Credit and Commerce International (BCCI).
OCC says US derivatives volume tops $96 trillion
Derivatives held by U.S. commercial banks increased by $5.1 trillion in the second quarter of 2005, to $96.2 trillion, the Office of the Comptroller of the Currency reported on Friday 30 September in its quarterly Bank Derivatives Report.
ZABG illegally acquired bank assets
The Reserve Bank of Zimbabwe's economic turnaround strategy was dealt a severe blow recently when a Supreme Court ruling found that its "Zimbabwe Allied Banking Group" (ZABG) had illegally acquired assets from collapsed commercial banks.
ECB's Tumpel-Gugerell on euro payments area
European Central Bank executive board member Gertrude Tumpel-Gugerell said foreign banks will take the leading role in restructuring the European banking sector if domestic banks move too slowly to create a single eurozone payments area.
Wrong time to cut funds target says BOJ's Nakahara
Bank of Japan policy board member Shin Nakahara said in a speech on Monday 3 October that it would be inappropriate to lower the BOJ's funds target now, and that the threshold for ending its superloose policy framework was not low.
BOJ's Fukui sees 'fully sustainable' recovery
Bank of Japan Governor Toshihiko Fukui said on Monday 3 October that Japan's economic recovery seems "fully sustainable," though it is very subdued.
Chavez says foreign reserves shifted to Europe
Venezuela has moved its central bank foreign reserves out of US banks, liquidated its investments in US Treasury securities and placed the funds in Europe, Venezuelan President Hugo Chavez said on Friday 30 September.
US payment system working well says Fed's Stern
The US payments system appears to be working well and there is no need for the Fed to significantly alter its role, Minneapolis Federal Reserve President Gary Stern said on Thursday 29 September.
Sir John Gieve's Biography
John Gieve has been Permanent Secretary of the Home Office since April 2001. It is one of the biggest and most complex departments in government which is responsible for expenditure of some £20 billion a year and employs more than 70,000 people.
Fazio, humiliated, still fails to take the hint
The Economist magazine gave its opinion on the Fazio Affair in this article published on Monday 26 September. Mr Fazio's behaviour has wrecked the reputation of the central bank, hitherto one of the country's few internationally respected institutions,…
Greenspan farewell party set for December
Finance ministers and central bank presidents from the G7 nations have ensured Alan Greenspan's departure will not go unnoticed with a special session scheduled for December in London as a farewell party.
Former Bank of Japan executive director dies
Toshihiko Yoshino, a former Bank of Japan executive director and a noted economic critic, died of pneumonia at a Tokyo hospital on 12 August, the Asahi Shimbun and Nihon Keizai Shimbun newspapers reported this week. He was 90.
Fazio becomes butt of Tremonti's jokes
Antonio Fazio became the butt of jokes from new economy minister Giulio Tremonti recently, when he poked fun at Fazio and imitated his voice.
Statement by Lars Heikensten on his resignation
Following his decision to resign after being nominated by the Swedish Government as the Swedish member of the European Court of Auditors, Sveriges Riksbank governor Lars Heikensten made the following statement on Thursday 29 September.
Riksbank's General Council on Heikensten decision
The General Council will now together begin the work to find a successor for the position as Riksbank Governor, Chairman of the Riksbank's General Council Jan Bergqvist and Vice Chairman Johan Gernandt said in a joint statement Thursday.
Banco de Mexico goes live with new software
OpenLink, a provider of trading and risk management software solutions, announced on Friday 30 September that Banco de Mexico, the second largest central bank in the Americas, has gone live with OpenLink's latest front-through-back- office, fully…
Santomero sees bounce back in US economy
Post-hurricane rebuilding will help the U.S. economy bounce back in 2006, Philadelphia Federal Reserve President Anthony Santomero said in comments published on Friday 30 September.
IMF's Deppler sees eurozone recovery on horizon
A top IMF official said on Friday 30 September that the potential economic growth rate for the eurozone should rise above 2% in the next few years, but high oil prices could delay the recovery.
ECB view on Bank of Italy reform in next fortnight
The European Central Bank will give its view on the proposed reform of the Bank of Italy in the next fortnight, ECB vice-president Lucas Papademos said Friday 30 September.