News
Gramlich unsure on what 'inning' Fed is in
Federal Reserve governor Edward Gramlich said on Friday 3 June that he did not know what stage the US central bank was at in its interest-rate rise cycle.
BNB chief says euro breakaway idea 'absurd'
Belgian National Bank governor Guy Quaden dismissed as 'an absurd scenario' talk that some EU countries will break away from the euro zone in the wake of the French and Dutch rejections of Europe's constitution.
SARB says inflation to stay in target
The South African Reserve Bank said Thursday 2 June that inflation will remain inside the 3-6 percent target band and the economy had entered a phase of high growth.
Iraq's small coins going unused
Millions of dinar coins minted by the Central Bank of Iraq are going unused as banks are reluctant to accept them, and high inflation means there is less and less need for small denominations.
BIS completes redistribution of shares
The Bank for International Settlements (BIS) announced on Wednesday 1 June the sale to its member central banks of 35,933 BIS shares valued at SDR 468.2 million.
Trichet says ECB unanimous that rates appropriate
European Central Bank president Jean-Claude Trichet said the ECB governing council was 'unanimous' at its meeting Thursday that interest rates remain appropriate.
Taya says BOJ may delay bond purchase cut
Japan's central bank may hold off reducing its monthly bond purchases after it cuts the target for reserves available to lenders, according to Teizo Taya, a former policy maker.
Dallas Fed chief says tightening cycle may be over
The FOMC may soon end its trend of interest rate increases but inflation remains a risk due to strong U.S. growth, Federal Reserve Bank of Dallas President Richard Fisher said on Wednesday 1 June.
Nigeria plans payment system reforms
The Central Bank of Nigeria (CBN) has said its major priority following the consolidation of the banking industry is to reform the payments system which currently remains largely cash-based.
RBA paper warns on inflation targets
A research paper published by the Reserve Bank of Australia on Thursday 2 June has warned that central banks should not set their inflation targets too low.
SARB has no reserve target - Plenderleith
The South African Reserve Bank plans to keep gradually building its foreign exchange reserves, Deputy Governor Ian Plenderleith said in an interview.
Move to convertible yuan 'gradually, prudently'
China will gradually and prudently move to make its currency, the yuan, convertible, PBOC governor Zhou Xiaochuan said.
Monetary union not under threat - Eichel
German Finance Minister Hans Eichel does not believe the EU monetary union will collapse and is not interfering in the monetary policies of the European Central Bank, a spokesman for Eichel was quoted as saying.
Riksbank's Heikensten says growth weaker
Sweden's Riksbank governor Lars Heikensten said recent indicators suggest economic activity is slightly weaker than forecast in the central bank's last inflation report in March, so it is important "that all doors are kept open" regarding monetary policy.
Trichet says ECB to discuss French no vote
European Central Bank president Jean-Claude Trichet has said the bank's governing council will discuss the implications of France's rejection of the EU constitution at its meeting on Thursday 2 June.
FSF concludes first African regional meeting
The Financial Stability Forum (FSF) concluded its first African regional meeting in Pretoria, South Africa on Monday 30 May.
China minister sees stable yuan
China's Commerce Minister Bo Xilai said on Monday 30 May that the country would consider the needs of its domestic economy ahead of anything else before it considers appreciating its currency.
Official says Asia should have greater IMF role
Asian nations should and will have a greater voice and representation in global institutions including the International Monetary Fund, a senior IMF official told Reuters.
ECB weighs reshaping exec board, Trichet role
A major shake-up of jobs on the European Central Bank's Executive Board is under discussion and could lead to president Jean-Claude Trichet and his deputy taking a more prominent role in shaping monetary policy, this article says.
Zhou Xiaochuan joins the Group of Thirty
Following the Spring meeting of the Group of Thirty in Warsaw, Poland, the Group announced on Tuesday 24 May the addition of Zhou Xiaochuan, Governor of the People's Bank of China, to the membership of the Group.
Senate backs Tombini to central bank of Brazil
Brazil's Senate Economic Affairs Committee on 24 May recommended the Senate confirm the nomination of Alexandre Tombini as central bank director for special studies.
Bell to leave Bank of England's MPC
The UK Chancellor, Gordon Brown, on Thursday 26 May announced the appointment of David Walton to the Bank of England's Monetary Policy Committee (MPC) to succeed Marian Bell. The appointment will take effect on 1 July.
Schroder defeat could end Bofinger's ECB hopes
A defeat by Chancellor Gerhard Schroder in Germany's election in September could spell the end for Peter Bofinger's chances of succeeding Otmar Issing as the German representative on the European Central Bank's six-man executive board.
Who will fill Greenspan's shoes?
This article published on Thursday 26 May speculates on Alan Greenspan's successor at the Fed. Ben Bernanke will have to abandon his preference for Hawaiian shirts and Bermuda shorts, it says, while Martin Feldstein looks risky given his outspokenness…