News
BoJ's new board member urges gradual policy shift
Kiyohiko Nishimura, who joined the Bank of Japan's nine-member policy board on Friday, told a press conference that the central bank needs to move slowly in altering its current super-loose credit policy.
Argentina's Redrado calls for fiscal prudence
Argentina's central bank president Martin Redrado called for fiscal prudence in the coming quarter to ensure inflation does not exceed 8 percent this year.
IMF warns of 'permanent oil shock'
The world faces "a permanent oil shock" and will have to adjust to sustained high prices in the next two decades, the International Monetary Fund said Thursday in its April 2005 World Economic Outlook.
US proposes law on China currency peg
A proposed law in the US would mean currency manipulation would be labelled an unfair trade practise allowing manufacturers to challenge China's fixed yuan peg.
Interview with Central Bank of Malta's Bonello
In a recent interview the governor of the Central Bank of Malta, Michael Bonello, said Malta is well suited to participate in the euro area. Delaying euro adoption would not only postpone the benefits of the single currency but could also place Malta…
Interview with International Monetary Fund's Rato
In an interview published on Monday 4 April Rodrigo Rato, managing director of the International Monetary Fund, said we are not advising any type of revaluation in China, but are instead advising flexibility. And we believe that it is in the interests of…
Interview with RBA's Broadbent
Following the Reserve Bank of Australia's meeting this week RBA board member Jillian Broadbent said in an interview on Wednesday 6 April that the central bank remains confident it can achieve its inflation target and maintain sustainable economic growth.
Paraguay appoints interim central bank president
Economist Benicio Sanchez has been chosen as interim president of the Paraguayan central bank by fellow directors following the resignation of Gabriel Gonzalez, local press reported.
ECB's Trichet says euro zone growth continuing
European Central Bank President Jean-Claude Trichet told a press conference Thursday that economic growth in the euro area is continuing at a moderate pace but there are no clear signs of a strengthening in underlying dynamism.
World Bank warns poor countries on dollar reserves
The World Bank warned the central banks of developing nations on Wednesday 6 April that a sudden decline in the dollar could prove costly for them if global interest rates rise.
Fukui: Reserve target adjustment isn't tightening
Bank of Japan governor Toshihiko Fukui told lawmakers Thursday 7 April a ``numerical adjustment'' in the amount of funds the Bank of Japan makes available to lenders wouldn't mean the central bank is tightening monetary policy.
Asean securities market interlinked by 2010
Asean's finance ministers said at the end of their 9th meeting they have agreed to further enhance the regional capital market by developing an interlinked Asean securities market by 2010.
Russian lawmakers call for central bank probe
Russian lawmakers called on prosecutors Wednesday 6 April to investigate the theft of confidential information from the central bank's computer system.
Greenspan warns of risks from mortgage giants
In testimony on Wednesday 6 April Federal Reserve chairman Alan Greenspan called on Congress to curb the rapid growth of Fannie Mae and Freddie Mac, telling Senators this was vital to cut the risks the mortgage finance giants pose to the U.S. financial…
World Bank report says US deficit to fall slowly
The US current account deficit is expected to decline gradually over the next three years, according to the World Bank's annual Global Development Finance report.
BOJ reports economy extends recovery
Bank of Japan Governor Toshihiko Fukui told a news conference Wednesday 6 April that a decline in business confidence doesn't alter the bank's view that Japan's economy is maintaining a recovery.
Brazil prosecutor calls for central bank inquiry
Brazil's Supreme Court has been asked by the attorney general to start an investigation into central bank President Henrique Meirelles for alleged financial irregularities.
Top Chinese officials to miss spring IMF meetings
Senior Chinese officials have said they will not attend spring meetings of the International Monetary Fund and World Bank at the end of next week, a U.S. Treasury Department official said on Tuesday 5 April.
ASEAN finance ministers hold Laos meeting
Finance ministers from the 10 ASEAN member nations will start a two-day meeting on Wednesday 6 April in Vientiane, Laos, to discuss economic development in Southeast Asia.
Kudrin says Russia should keep $100bn reserves
Russia should maintain at least U.S. $100 billion in foreign exchange and gold reserves, Finance Minister Alexei Kudrin told the State Duma, the lower house of the Russian parliament, Monday 4 April.
China to reform forex regime, not just level
China's central bank will focus this year on how to establish a workable exchange rate mechanism instead of simply fixing the exchange rate at a certain level, the official China Securities Journal reported, citing a senior PBOC official.
Greenspan says Basel II would strengthen US banks
Federal Reserve Chairman Alan Greenspan said that implementing the new Basel II global banking rules would make U.S. banks stronger and safer, and were unlikely to harm their competitiveness.
6th Islamic Financial Services meeting starts
The 6th meeting of the Islamic Financial Services Board (IFSB) began in Tehran Tuesday 5 April under the chairmanship of the governor of the Iranian central bank Ibrahim Shibani.
Statement by IMF's Rato on death of the Pope
Rodrigo de Rato, Managing Director of the International Monetary Fund (IMF), issued a statement on Sunday 3 April on the death of Pope John Paul II.