News
Treasury management system for Bulgaria
The Bulgarian National Bank is gearing up for entry to the European Union (promised for 2008 or 2009 at the latest) by ensuring it will meet the 1 January 2007 deadline for compliance with the revised Eurosystem standards for treasury management…
Bank of Canada raises interest rates
The Bank of Canada announced on Tuesday 6 December that it is raising its target for the overnight rate by one-quarter of one percentage point to 3 1/4 per cent. In a press release the bank suggested rates would rise further saying, "some further…
ECB and NCBs release joint statistics
On Tuesday the European Central Bank (ECB) and the national central banks (NCBs) of the euro area for the first time released joint tables of euro area statistics and their national breakdowns on their websites.
BNB implements new treasury management system
The Bulgarian National Bank has strengthened its accession strategy through the implementation of The Trema Suite as its new treasury management system covering Front-, Middle- and Back Office for their reserve management operations.
Fukui says Japan ready for monetary policy shift
Bank of Japan Governor Toshihiko Fukui told his Group of Seven counterparts that the central bank will move away from its monetary policy stance eventually, once the condition of sustainable rising consumer prices is met, Kyodo News Agency reported.
Turkey to begin inflation targeting
Turkey plans to adopt formal inflation targeting in 2006, according to central bank governor Sureyya Serdengecti.
ECB's Mersch says eurozone tax harmony not needed
Eurozone members aren't obliged to harmonize taxation practices as this isn't part and parcel of European Monetary Union, Luxembourg Central Bank Governor Yves Mersch said on Friday 2 December.
Quaden says eurozone rates now 'appropriate'
Belgian National Bank governor Guy Quaden has called the level of European Central Bank interest rates "appropriate" for the emerging recovery of the eurozone.
ECB's Weber worries over credit growth
The European Central Bank's mid- to long-term strategy is at risk from the pace of credit growth in the euro zone and this danger must be countered, ECB Governing Council member Axel Weber was quoted as saying on Sunday 4 December.
PBOC says China to deepen yuan rate reform
China will deepen yuan exchange rate reforms and further promote the convertibility of the currency in the capital account, the People's Bank of China (PBOC) said in answer to a series of questions published in the China Securities Journal.
Central bank to replace BMA in Bahrain
A central bank with a BD500 million capital will be established in Manama to replace the Bahrain Monetary Agency to meet the Kingdom's comprehensive development plan for the banking sector, the Bahrain Tribune reported on Monday 5 December.
G7 calls for further move on yuan flexibility
The G7 nations increased pressure on China to move to a more flexible currency regime on Saturday 3 December and asked the IMF to take a bigger role in offering advice on foreign exchange.
Interview with new OECD secretary-general
In an interview published on Monday 28 November, Angel Gurria, the new secretary-general of the OECD, said the OECD should become the forum for resolving global imbalances.
How the Fed should steer the Bernanke transition
According to this article published on Monday 28 November, the minutes of the latest Federal Open Market Committee meeting, released last week, suggest the Federal Reserve is having some difficulty handling the transition to a new chairman.
Bianchi appointed to Bank of Italy FX division
Bruno Bianchi has been appointed director general of Ufficio Italiano Cambi, the foreign exchange division of the Bank of Italy.
Argentine economy minister forced to resign
Roberto Lavagna was forced to resign this week as Argentina's economy minister, raising doubts over the sustainability of the country's economic recovery.
Nigeria's president approves CBN appointments
President Olusegun Obasanjo has approved the appointment of five new non-executive directors to the Board of the Central Bank of Nigeria following the expiration of the terms of the former members.
Crisis solved, but Reserve still political
According to this article published on Saturday 3 December, the Howard Government has practised classic crisis management on its problem with the Reserve Bank of Australia's board. This protects the Government and the Reserve Bank from further…
Interview with Bank of England's Walton
Speaking in an interview published on Wednesday 30 November, the most recent member of the Bank of England's Monetary Policy Committee, David Walton, said the Bank of England should not rush to move interest rates until it has a clearer idea of whether…
State Bank of Pakistan governor retires
The governor of the State Bank of Pakistan, Dr Ishrat Husain, retired on Thursday 1 December. Tawfiq A. Husain was appointed as acting governor with effect from Friday and till the appointment of a regular governor.
Interview with Brandon Davies on risk management
In an interview published on Thursday 1 December, Brandon Davies, managing director of the Global Association of Risk Professionals, speaks about the implementation of Bank Indonesia's five year training program to raise risk management standards.
Proposal for BOJ's next-generation RTGS project
The Bank of Japan has released a consultation document on the proposal for the next generation of the BOJ-NET Funds Transfer System.
MAS says regulatory framework fundamentally sound
The Monetary Authority of Singapore has defended Singapore's regulatory framework, saying that it is fundamentally sound.
BoT should regulate payments, says committee
According to a government committee on electronic transactions, the Bank of Thailand should have the authority to regulate the electronic payment business.