News
PBOC adviser Yu sees inevitable yuan rise
Yu Yongding, an influential economist and adviser to the People's bank of China, said on Monday 24 October that an appreciation in the yuan was inevitable and that he expected further changes in China's currency policy.
Bernanke nominated to replace 'legend' Greenspan
US President George W. Bush on Monday 24 October nominated White House economic adviser Ben Bernanke to succeed Alan Greenspan as chairman of the Federal Reserve.
Interview with ECB's Trichet
ECB President Jean-Claude Trichet said in an interview with Russian newspaper Izvestia this week that the ECB was committed to maintaining steady prices. "As regards our present position, I said in Athens on 6 October that the present interest rate of 2…
Gordon Brown welcomes Bank of England appointment
Following the appointment this week of Sir John Gieve to succeed Sir Andrew Large as Bank of England Deputy Governor for Financial Stability, UK Chancellor Gordon Brown said Sir John brings a wealth of experience to the job.
CBN to lose over 1,000 staff
About 1,040 staff at the Central Bank of Nigeria (CBN) lost their jobs this week following the implementation of the CBN's "Project Eagles" restructuring and re-engineering exercise.
Ivory Coast to keep BCEAO job
The president of the Ivory Coast said on Tuesday 18 October that his country will not relinquish the governorship of the Central Bank of West African States (BCEAO).
Book by governor of Barbados cb
Dr Marian Williams, governor of the Central Bank of Barbados, has published her third book. The book contains ideas about the policies and approaches which Barbados and the Caribbean might adopt in the new global environment.
Greenspan: global giant but awkward legacy
According to this article published on Tuesday 18 October, the Fed's sway over world markets was arguably at its peak in 1998. Before both the launch of the euro and the massive reserve accumulation in Asia that has bestowed China and others with…
Russian central banker charged with taking bribe
The Moscow prosecutor's office has indicted the deputy chief of the Federal Tax Service lending institutions department and a Russian central bank official for large-scale bribery, according to Interfax and other reports this week.
Politicians walk out on Fazio testimony
Bank of Italy governor Antonio Fazio faced another snub on Tuesday 18 October when centre-left opposition party members walked out of a parliamentary hearing where he was speaking about Italy's 2006 budget.
OECD Working Group on Bribery concerned by Czechs
The OECD Working Group on Bribery issued a letter on Friday 21 October to the Czech authorities, outlining its serious concerns on the failure by the Czech Republic to comply with its international obligations.
Issing hints at ECB rate rise
European Central Bank chief economist Otmar Issing said on Friday 21 October that inflation prospects in the Eurozone are worrisome and the outlook for interest rates is uncertain.
Zimbabwe plans new currency
Zimbabwe will have a new currency next year, the central bank governor announced on Thursday 20 October , the Zimbabwe Observor reports.
Rato urges caution as global rates set to rise
IMF Managing Director Rodrigo Rato said on Thursday 20 October that global interest rates are set to rise and investors must take that into account.
Muto says BOJ to keep ultra-loose policy
Bank of Japan (BoJ) Deputy Governor Toshiro Muto said on Friday 21 October that the central bank will continue to help the resurgent economy by keeping its super-loose monetary policy.
Fukui: BOJ framework change not sign of tightening
A change in the Bank of Japan's current quantitative easing framework isn't a sign the central bank will shift to monetary tightening, BOJ Governor Toshihiko Fukui said on Thursday 20 October.
Hosokawa says FX moves should reflect fundamentals
Japan's Ministry of Finance will closely watch foreign exchange rate movements and take action if needed, the ministry's top bureaucrat said Thursday 20 October.
East Asian currency union under discussion
There is a case for a currency union in East Asia but one excluding China and Japan, according to Peter Kenen, a Princeton-based academic.
Vietnam eases foreign currency controls
Vietnam has decided to loosen restrictions on the use of foreign currencies in the country.
Meister calls for stiff shareholding disclosure
Cutting the threshold at which investors must declare that they have corporate shareholdings would help shed light on hedge fund activities, Bundesbank Board member Edgar Meister said.
Norges Bank, Economic Bulletin, October 2005
Norges Bank, the central bank of Norway, has published its October 2005 Economic Bulletin. The latest Bulletin includes the article 'House prices, equity prices, investment and credit - what do they tell us about banking crises?'
Bank of England's MPC voted 9-0 to hold rates
Minutes from the Bank of England's 5 and 6 October meeting, released 19 October, showed that all nine members of the Monetary Policy Committee voted to keep interest rates at 4.5 percent this month, not even discussing arguments for a cut.
IMF's Rato welcomes GCC monetary union progress
Rodrigo de Rato, Managing Director of the International Monetary Fund (IMF), gave a statement on Tuesday 18 October following a meeting in Jeddah, Saudi Arabia, with the finance ministers and central bank governors of the six-nation Gulf Cooperation…
FSI Award - 2006 competition rules announced
The Financial Stability Institute (FSI) announced on Tuesday 18 October that it will give the 2006 FSI Award to the author of the best paper submitted.