News
Alan Greenspan is the man!
It's no surprise that President George W. Bush has asked Alan Greenspan to re-enlist for a fifth four-year term as chairman of the Federal Reserve, this article says, especially since Bush pledged to do so one year ago. Comparing Greenspan to four other…
Decision on 'Mr Euro' delayed to September
Finance ministers from the 12-country eurozone have deferred until September a decision on creating a "Mr Euro" as the political face of the single currency.
Leeladhar, Gopinath tipped as RBI dep governors
Union Bank of India chairman V Leeladhar and Reserve Bank of India (RBI) executive director Shyamala Gopinath are set to take charge as future deputy governors of the RBI, The Economic Times reported this week.
Minutes from the Sveriges Riksbank Meeting, 23 Jun
Minutes of the Sveriges Riksbank Executive Board meeting on 23 June were published 8 July. One member summed up the discussion of the international economic situation, saying developments had largely confirmed the assessment in the previous Inflation…
Portugal increase growth forecast
The Bank of Portugal has raised its forecast for economic growth this year owing to a higher-than-expected increase in internal demand, central bank Governor Vitor Constancio said.
NBP urges faster spending cuts for euro in 2009
Poland should move ahead quicker with its spending-reduction plan to cut the budget deficit and allow the largest new European Union member to adopt the euro before 2009, deputy governor of the National Bank of Poland (NBP) Krzysztof Rybinski said.
PBOC's Zhou says China won't loosen loan controls
The People's Bank of China will not loosen control over loan extension despite complaints from local businesses about cash flow problems, according to Governor Zhou Xiaochuan of the People's Bank of China.
Finland missing 1.45bn markka after euro switch
Close to 1.45 billion Finnish markka, equivalent to 244 million euros, have yet to be exchanged for euros two and a half years after Finland switched to the euro, a Bank of Finland official said.
Reports of Russian bank crisis in progress
Pravda reported Friday a Russian banking crisis in progress, causing a rapid appreciation of the US dollar against the ruble. But a former government official said the situation could hardly be called a crisis.
Central banking in New Zealand
The Reserve Bank of New Zealand has updated one of its brochures, entitled "Central Banking in New Zealand", which is a generic description of the Reserve Bank's functions and its governance arrangements.
RBI's Mohan says rates unlikely to change
the RBI's deputy governor, Rakesh Mohan, said on Thursday 8 July that he saw no change in the country's official interest rate policy following the new government's federal budget, presented earlier in the day.
Zimbabwe expulsion from IMF delayed
The International Monetary Fund has delayed Zimbabwe's possible expulsion for unpaid debt, giving the southern African country six months to turn around its economy, the state-run Herald newspaper said on Thursday 8 July .
Czech cb divided on June rate rise
The Czech central bank's decision to raise interest rates in June was supported by three board members and opposed by two, the central bank said on Thursday July 8.
Sarkozy calls for more transparency at ECB
French finance minister Nicolas Sarkozy has called on the European Central Bank (ECB) to publish records of its debates and votes when setting interest rates, in the interests of transparency.
Bank of England holds rates unchanged
The Bank of England decided against a third consecutive monthly rise in interest rates on Thursday 8 July , in a move which was widely expected.
Weber says no plan for ECB rate increase
Although the Federal Reserve recently raised US interest rates, the European Central Bank does not see a change in eurozone interest rates in the foreseeable future, ECB Governing Council member and Bundesbank president Axel Weber said on Tuesday 6 July.
Broaddus US economy strong, inflation contained
Federal Reserve Bank of Richmond President Alfred Broaddus said on Tuesday 6 July that the U.S. economy looks strong, and inflation does not appear to be a problem but the Federal Reserve will "walk the walk" to ensure price stability.
Viet Nam sees increased used of non-cash payments
Non-cash payments have become more popular in Viet Nam, accounting for 79 per cent of all payments at banks in the first six months of the year as against 77 percent in 2003, according to VNA.
BSP chief calls for improved government finances
Bangko Sentral ng Pilipinas Governor Rafael Buenaventura said on Wednesday 7 July that the government should work harder to improve its fiscal performance to prevent a credit rating downgrade that would increase foreign borrowing costs.
Russian central bank tries to reassure country
The Central Bank of Russia sought to reassure Russians on Wednesday 7 July that their financial sector was sound, saying talks had begun to rescue the first major banking casualty from the brink of collapse.
New Hong Kong banknotes
The Hong Kong Monetary Authority (HKMA) and the three note-issuing banks (Bank of China (Hong Kong) Limited, Standard Chartered Bank (Hong Kong) Limited and The Hongkong and Shanghai Banking Corporation Limited) announced on 5 July the issue and unveiled…
Research says China's economy growing
China's economy is expected to grow 11.3 per cent in the year through the second quarter, up from the 9.8 per cent of the first quarter, a think-tank under the country's economic planner says.
PBOC sells 20 bn yuan in bank bills
The People's Bank of China, the country's central bank, said it had successfully sold 20 bn in discounted short-term bills, made up of 15 bn yuan in three-month bills and 5 bn yuan in one-year bills, in the interbank market on Tuesday 6 July.
Philippine cb against declaring fiscal crisis
The Bangko Sentral ng Pilipinas (BSP) on Monday 5 July oposed the proposal to formally declare a fiscal crisis, warning that the ensuing confusion might precipitate an actual fiscal crisis that the government is trying to avoid.