News
Venezuelan president threatens to take over c bank
On Wednesday 7 January Venezuela's President Hugo Chavez threatened to take over the country's independent central bank if it did not agree to his demand to hand over $1 billion in reserves to finance farming projects.
Bank of England holds rates steady
The Bank of England's Monetary Policy Committee voted on Thursday 8 January to maintain the Bank's repo rate at 3.75%.
ECB maintains eurozone rates at 2%
The European Central Bank left interest rates unchanged on Thursday 8 January as widely expected, defying calls that cheaper money is needed to prevent a strong euro from hurting economic recovery.
Bundesbank head sees threat from euro strength
Bundesbank Vice President Juergen Stark said in a newspaper interview published on Thursday 8 January that the speed and scale of the euro's rise against the dollar could become a possible threat to the German economy.
IMF urges need for balanced budget plan in US
The International Monetary Fund on Wednesday 7 January urged the United States to formulate a clear plan to balance its budget, saying tax cuts had given the economy only a modest lift.
Argentina's World Bank loan plan on hold for IMF
At the request of some of its member countries the World Bank has put consideration of a new lending program for Argentina on hold until the country has completed a delayed review of its IMF program.
Vietnam central bank plans gold purchase
Vietnam's central bank has given the go-ahead for the country to import up to 10 tonnes of extra gold in the first quarter of 2004.
Hungary's future finance chief signals euro delay
Hungary's future finance minister signalled on Thursday 8 January that the country's 2008 target for joining the eurozone may have to be delayed.
PBOC appoints clearing bank for RMB business
The People's Bank of China has appointed Bank of China (Hong Kong) Limited as the Clearing Bank for RMB Business in Hong Kong.
Finance chiefs to meet in Florida on February 6
G7 finance chiefs and central bank governors will meet in Florida for a two-day summit from February 6, the US Treasury has announced.
Source says BOJ spent Y3 trln in intervention
Japan, worried that a strong yen could hurt an export-led recovery in its economy, spent about three trillion yen ($28.3 billion) in the first two days of this week to hold the currency down, market sources said on Wednesday 7 January.
Court battle may loom over EU Pact
EU finance ministers reportedly acted illegally when they suspended EU budget rules to spare France and Germany disciplinary action over their excessive deficits.
Regulatory reform may face delay in Italy
The Italian government is unlikely to debate a regulatory reform bill this week and instead will wait for Parliament to finish an investigation, a minister said.
Counterfeit money major concern for SEACEN
Money counterfeiting has become a central issue for member countries in the South East Asian Central Bank (SEACEN), Bank Indonesia (BI) Deputy Governor Maulana R. Ibrahim said on Monday 5 January.
Modified notes agreed by Russian central bank
The Board of Directors of the Russian Central Bank has given the OK to the introduction of modified 10, 50, 100, 500 and 1000 ruble notes.
Fed's Guynn says deflation threat low
Atlanta Fed President Jack Guynn said Monday the risk of wholesale price declines in the U.S. economy is now much lower.
China to further open gold market
The People's Bank of China has stopped taking in gold of purity below 99.95 percent from Chinese firms in a small step to open the precious metals sector further.
Dollar continues slide against euro
The dollar hit a new record low against the euro on Tuesday in broad selling but held on just above a three-year low on the yen, helped by rumoured Japanese yen-selling intervention.
RBI's Reddy to discuss growth and inflation
Governor Y.V.Reddy of the Reserve Bank of India said on Tuesday he will present his reassessment of the Indian economy at a trade body's annual meeting on Wednesday.
DIW calls for ECB rate cut
The DIW, one of Germany's top economic institutes, has called on the European Central Bank to cut interest rates to stimulate eurozone domestic demand.
Japan's PM says economy seeing 'bright signs'
Japanese prime minister Junichiro Koizumi said on Monday at his New Year's news conference that the country was finally emerging from its prolonged slowdown.
UAE central bank to upgrade UAESWITCH
The UAE Central Bank has announced the signing of a contract with S2 Systems to upgrade the UAESWITCH system.
Central bank officials criticise Israel's Klein
A report claims that the Bank of Israel has been shaken recently by an internal crisis which saw governor David Klein presented with a growing list of complaints from department heads.
Uganda's central bank suffers unprecedented loss
The central bank of Uganda says it made a loss of Shs 7.7 billion in the year to June 30 2003 as a result of low returns from its investments abroad.