News
Yukos board approves Gerashchenko's candidature
The board of directors of the YUKOS oil company has approved former president of the central bank of Russia, Viktor Gerashchenko, to stand as a member of the board of the oil company.
Mugabe arrests his Finance Minister
Zimbabwe's finance minister was arrested on Saturday (24 April) on charges of dealing in foreign currency. He is the first senior official in President Robert Mugabe's government to be detained in a corruption crackdown.
Colin Powell linked to World Bank top job
A report in the New York Times this week said the buzz in the capital was that Colin Powell could be the next president of the World Bank.
Ex-CBK deputy governor in witness box
Former deputy Governor of the central bank of Kenya Eliphaz Riungu told the Goldenberg inquiry this week that he never opened accounts in the Indosuez Sogem Aval Ltd London branch bank for Central Bank of Kenya.
ECB welcomes the new EU Member States
On 1 May the European Union will have ten new Member States, the Czech Republic, Estonia, Cyprus, Latvia, Lithuania, Hungary, Malta, Poland, Slovenia and Slovakia. In a press release Friday, Jean-Claude Trichet welcomed the ten saying "We look forward to…
Monetary policy is no panacea: ECB's Papademos
European Central Bank Vice President Lucas Papademos said on Thursday 29 April that European Union governments cannot rely on monetary policy to cure structural economic problems.
Fukui says BOJ cannot commit to govt growth target
Toshihiko Fukui said in minutes released on Friday 30 April that while the Bank of Japan was committed to fighting deflation it could not commit to a specific growth rate, distancing the BOJ from a government growth target.
Issing says rate split suggestions 'sci-fi'
European Central Bank (ECB) chief economist Otmar Issing expressed concern on Thursday 29 April about sluggish growth in the 12-nation eurozone and dismissed suggestion of splits in the ECB over interests rates as "science fiction."
Nigeria gets new central bank governor
The Nigerian government announced on Thursday (29 April) the appointment of Professor Charles Soludo as the new Governor of the Central Bank of Nigeria (CBN). Also appointed by President Obasanjo was W. A. Mshelia, the first woman deputy governor of the…
Eurozone inflation estimate reaches ECB 'ceiling'
Eurostat released a preliminary estimate for April inflation in the eurozone Friday showing that the rate had risen to a higher than expected 2.0 per cent from 1.7 per cent in March.
Classical King
A while back we reported that Bank of England governor Mervyn King was spotted out at an hour-long symphony by Russian composer Dimitri Shostakovich at London's Royal Festival Hall. Now a press report says, shock horror, he has been seen carrying a CD of…
RBNZ increases interest rates to 5.5%
The Reserve Bank of New Zealand increased its Official Cash Rate from 5.25 per cent to 5.5 per cent on Thursday 29 April. RBNZ Governor Alan Bollard commented on the decision "The New Zealand economy continues to perform strongly and this is being…
Sweden holds rates steady at 2%
At its meeting on Wednesday 28 April the Executive Board of the Riksbank decided to leave the repo rate unchanged at 2 per cent. After a mild economic downturn the recovery in the Swedish economy has proceeded largely as expected, the Riksbank said.
Logica implements Chile RTGS system
Logica announced on Thursday the successful implementation of its Real-Time Gross Settlement (RTGS) System for the Banco Central de Chile (BCC), Chile's Central Bank.
SNB: Swiss franc not hindering recovery
Current Swiss franc exchange rates are not hindering the country's economic rebound, and while market intervention remains an option, it is not an issue at the moment, Swiss National Bank (SNB) directorate member Philipp Hildebrand said in an interview…
Request for comment on payments system risk policy
The Federal Reserve Board on 21 April requested comment on proposed revisions to Part II of its Policy Statement on Payments System Risk (PSR Policy), which addresses risk management in payments and securities settlement systems.
SADC central bank governors to meet in Botswana
Thirteen Southern African Development Community (SADC) central bank governors are expected in Gaborone, Botswana on Friday 30 April to attend the biannual meeting of the committee of Central Bank Governors.
Basel II talks over by end June - Caruana
Financial regulators expect to end talks to redraft global banking regulations, known as Basel II, by the end of June, Jaime Caruana, head of the Basel Committee on Banking Supervision, was quoted as saying on Tuesday 27 April.
BoE's Bell hints at need for higher rates
A member of the Bank of England's nine-strong Monetary Policy Committee thinks interest rates need to rise, according to an interview. Continued above trend growth, she said, would likely impact on prices.
China must be careful over forex rate- Premier Wen
China must be careful before changing its fixed exchange rate because any rash change could mean trouble for the economy and that of the rest of the world, Premier Wen Jiabao said in an interview on Wednesday 28 April.
Japan lifts growth forecast
The Bank of Japan said on Wednesday 28 April that it expects the country's economy to expand at an even greater rate than it forecast six months ago, but repeated that mild deflation will continue in the current fiscal year.
US unveils $50 note with enhanced security
US government officials from the Department of the Treasury, the Federal Reserve and the United States Secret Service, on Monday 26 April unveiled the new $50 note design with enhanced security features, and subtle background colours of blue and red, and…
Euro's reserve growing, ECB's Issing says
The euro's growing role as a global reserve currency is "unavoidable", the European Central Bank's chief economist Otmar Issing said Monday 26 April.
Deficits remain obstacle for new EU members
The greatest hurdle preventing the EU accession countries from joining the euro quickly is the state of their public finances, European Central Bank executive board member Tommaso Padoa-Schioppa said in a newspaper interview.