News
PBOC's Zhou: no G7 pressure for forex shift
Finance ministers of the Group of Seven did not show impatience with China's fixed exchange rate, Zhou Xiaochuan, governor of the People's Bank of China, said in an interview.
Iraq aims to increase foreign bank entry
Iraq's central bank governor said on Monday 26 April that he is recommending removing limits to the number of foreign banks that can operate in Iraq.
Preparing for cross-border bank failures
Increasingly, small countries will not supervise their systemically importantbanks. They will still have to pick up the pieces in a crisis though. ProfessorDavid Mayes, special adviser to the Bank of Finland, examines how they canrespond.
ECB rates not an obstacle: Stark
The current level of interest rates in the 12-country eurozone is no obstacle to economic growth in the single currency region, the Bundesbank's interim president Juergen Stark said in newspaper interviews on Monday 26 April.
Welteke to face probe this week
Former Bundesbank President Ernst Welteke is to be interrogated on Wednesday 28 April by prosecutors in the so-called "Adlon" affair, in which the central bank chief is accused of illegally accepting gifts, the mass-circulation daily Bild reported on…
G7 upbeat on world economy
Finance chiefs from the world's G7 nations agreed on Saturday 24 April that the global economic outlook had brightened significantly but the threat of further oil price rises was one of the few clouds on the horizon.
Rates in line with economy: ECB's Tumpel-Gugerell
Euro zone interest rates are in line with economic conditions, European Central Bank Executive Board member Gertrude Tumpel-Gugerell said in an interview released on Sunday 25 April.
France, Germany pressured ECB over rates-report
The European Central Bank faced more pressure for lower interest rates from the euro zone's biggest countries, France and Germany, at Saturday's meeting (April 24) of the world's top economic powers, an EU source said.
Russia appoints new first deputy chairman
Russia's first deputy finance minister, Alexei Ulyukayev, is moving to the central bank to oversee monetary policy as first deputy chairman.
Welteke won't get full salary to 2007
Former Bundesbank President Ernst Welteke won't draw his full salary as German central bank chief over the next three years after quitting last week, denying a report in the Financial Times Deutschland newspaper.
BOJ to open vault to public in summer
The Bank of Japan said on Tuesday 20 April that the central bank will open its main vault to the public during the summer time.
Korea recommends three for monetary board
The government and the Bank of Korea this week recommended three prominent financial experts as new members of the central bank's interest rate-setting board.
Interview with former Fed governor Larry Meyer
In an interview with BusinessWeek published this week former Federal Reserve governor Laurence Meyer said he still isn't convinced the inflation evidence is strong enough for the Fed to rush through a rate hike, but he does believe that it could well…
Rato set to be next IMF chief
Former Spanish finance minister Rodrigo Rato looks certain to become the International Monetary Fund's new chief after the United States threw its support behind his candidacy this week.
EU Parliament approves Gonzalez-Paramo to ECB
The European Parliament on Monday 19 April endorsed Spain's Jose Manuel Gonzalez-Paramo to succeed ECB board member Eugenio Domingo Solans next month.
Liikanen appointed Bank of Finland governor
Erkki Liikanen was appointed Governor of the Bank of Finland today (23 April) by the President of Finland. He will take up his duties from 12 July.
Focus on Weber, the Bundesbank's surprise choice
Little was known about economics professor Axel Weber, the German government's surprise choice to head the Bundesbank this week, who told a news conference on Wednesday 21 April that he jogs to relax.
Volcker to probe Iraq oil for food program
Paul Volcker, the former chairman of the Federal Reserve, began a high-level investigation on Wednesday 21 April into allegations of kickbacks and bribes in the UN-run oil-for-food program for Iraq.
Interview with ECB president Jean-Claude Trichet
In an interview published on Friday 23 April, Jean-Claude Trichet said the European Central Bank is proud to be a central bank with one of the highest levels of predictability. He also said he was struck by the pessimism shown by many on the potential…
Meirelles: Brazil's inflation target won't change
Brazilian Central Bank President Henrique Meirelles said on Thursday 22 April that the strict inflation targets set for 2004 and 2005 would not budge despite investor fears they may hinder badly needed growth.
Fed's Ferguson: no threat from current account gap
Speaking on Friday April 23, Roger Ferguson, Vice Chairman of the Federal Reserve, said that there was no reason to fear that the process of reining in big US trade deficits would disrupt global economic activity.
Trichet defends ECB stance on rates
ECB president Jean-Claude Trichet said in an interview that the bank is "neutral" on interest rates but insisted any changes in the economic outlook will be considered. He also said the sharp rise in oil prices poses a risk to the global economy unless…
Kansas Fed's Hoenig expects US growth this year
The president of the Kansas Fed said Thursday night that he expects a 4 1/2 percent to 5 percent increase in U.S. gross domestic product this year.
Constancio: EU's 10 new members must curb deficits
Vitor Constancio, the governor of the central bank of Portugal, said Friday that the 10 countries set to join the European Union on May 1 should remain outside the eurozone until their public deficits are well below the EU's three percent limit.