News
ECB: Many years before euro can challenge dollar
A top European Central Bank policy-maker said on Friday 15 April that the process of acquiring an international role for a currency is extremely slow.
Trichet sees no cut in eurozone interest rates
European Central Bank president Jean-Claude Trichet has ruled out a cut in eurozone interest rates but suggested that the cost of borrowing was unlikely to rise either, saying inflation was under control.
G7 losing patience on China's exchange rate
The G7 retained the same official language following its meeting in Washington at the weekend, but the rich nations' frustration over China's fixed currency regime was evident in comments from various policymakers.
Interview with PBOC's Zhou
In an interview published on Wednesday 13 April PBOC governor Zhou Xiaochuan said the task in future is mainly centered on improving the mechanism in the shaping of the people's currency exchange rate rather than simply adjusting the rate of it.
Interview with outgoing World Bank president
James Wolfensohn, who steps down at the end of May after 10 years at the World Bank, said in an interview this week that the institution's controversial selection process had contributed to a "dangerous trend of regionalisation of opinion" on the bank's…
Interview with Philadelphia Fed's Santomero
Speaking this week in an interview Anthony Santomero, the president of the Federal Reserve Bank of Philadelphia, said we are looking at an economy that, if it continues to move in the direction and at the speed we think, we can continue to move on…
Norman Chan to retire from HKMA
The Hong Kong Monetary Authority announced on Tuesday 12 April that Norman Chan, the Deputy Chief Executive responsible for reserves management and international affairs, will be departing from the HKMA some time in May.
The art of central banking
The Turkish central bank has released a two-volume book introducing Turkish artists and their works that comprise the central bank's art collection.
Richmond Fed names new Senior Vice President
The Federal Reserve Bank of Richmond named Dave Beck senior vice president and branch manager of the Baltimore Office on 14 April.
Paraguay's central bank president 'confirmed'
Dr Monica Perez has been confirmed by Paraguayan President Nicanor Duarte as the first female central bank president. However, she must still be formally approved by the Senate.
Somali premier appoints central bank governor
The prime minister of Somalia, Ali Muhammad Gedi, appointed Bashir Ise Ali as the central bank governor at a cabinet meeting held in Nairobi on 12 April.
Bank of Korea to publish rate discussions
The Bank of Korea (BOK) said on Friday 15 April that it intends to put details of what has been discussed at the seven-member Momentary Policy Committee on its website.
Japan's fin min says G7 leaders to discuss oil
Japanese Finance Minister Sadakazu Tanigaki said on Friday 15 April that G7 financial leaders are expected to study measures to curb high oil prices, including ways to change industrial structures of oil-consuming nations.
IMF's Rato criticises EU rules
International Monetary Fund chief Rodrigo Rato attacked reforms of the eurozone's budget rules on Thursday 14 April saying the pact had "served Europe well".
ECB's Papademos sees inflation around 2 pct
European Central Bank vice-president Lucas Papademos said on Friday 15 April that eurozone inflation is expected to fluctuate around 2 pct in the short term, but upside risks remain.
US increases pressure on China to float currency
The Bush administration stepped up its appeals for China to let its currency rise on Thursday 14 April, as pressure mounted in Congress for tougher action on a host of Chinese practices that allegedly fuel the burgeoning US trade deficit.
BNB deputy governor involved in bankruptcy case
Bulgarian central bank deputy governor Emilia Milanova was ordered to pay (BGN) 5, 000 bail or be arrested in an investigation of two commercial bank bankruptcies eight years ago, Bulgarian News Network reported Friday.
Iran's central bank and Bundesbank hold talks
The head of Iran's central bank Ebrahim Sheybani and the President of the German Bundesbank Dr Axel Weber met in Frankfurt on Tuesday 12 April.
Oil, debt relief on G7 agenda says Snow
US Treasury Secretary John Snow said on Wednesday 13 April that global growth, debt relief and high energy prices will be key themes for a weekend meeting of G7 finance ministers.
Fed's Fisher 'comfortable' with rate increase pace
Richard Fisher, president of the Federal Reserve Bank of Dallas, said strong US growth has put inflation pressures in the spotlight but they still appear to be under control.
South Korea drops revaluation plan
South Korea's plan to raise the value of the local currency and issue higher face-value banknotes has been dropped for fear of a possible negative impact on the overall economy.
Bank of Canada cuts growth forecast for 2005
The Bank of Canada released its April 2005 Monetary Policy Report on 14 April. In the report the Bank lowered its growth forecast for the Canadian economy for 2005, cutting its estimate to 2.6 per cent.
Fin mins concerned uneven growth may hinder ECB
Eurozone finance ministers are concerned that different growth rates among the 12 nations sharing the single currency could hamper European Central Bank policy making, a German government official told Reuters on Wednesday.
IMF sees slower economic growth in Japan
Japan's economy will show slower growth in 2005 but should gather steam as the year progresses, according to the IMF's World Economic outlook Wednesday, urging the Bank of Japan to keep monetary policy loose until the deflation threat is removed.