News
Fed's Stern plays down consumer debt fears
US consumers are in good financial shape, top Fed official Gary Stern said, rejecting fears that high levels of household debt are unsustainable.
Cyprus to decide on ERM by year end
Cyprus will decide by the end of the year on the timing of its application to join the European exchange rate mechanism (ERM2), according to Finance Minister Makis Keravnos.
Bank of Canada issues new $20 banknotes
The Bank of Canada put Canada's new $20 banknotes into circulation on Wednesday 29 September. The new notes will be distributed and become available across the country over the next few weeks.
Hoenig; modest effect of oil prices on US economy
Kansas City Fed president Tom Hoenig said on Tuesday 28 September that high oil prices will probably slow U.S. growth but will not derail the economy provided there is not another sharp spike upwards.
US Treasury Sec. Snow: oil prices at G7 meeting
US Treasury Secretary John Snow said on Tuesday 28 September that the record high for world crude oil prices will be one of the key issues to be discussed as the Group of Seven (G7) industrialised nations meet in Washington this week.
New study says IMF should limit its role
According to a new study from the Institute for International Economics, the IMF must limit its role in countries undergoing a financial crisis and set more realistic limits on lending, including revising guidelines to those nations.
Brazil's Meirelles promises lower rates
The president of Brazil's Central Bank, Henrique Meirelles, has said that the higher primary account surplus and the lower ratio between debt and GDP will mean lower interest rates in the medium term for Brazilians.
Safer, smarter, US $50 bill issued
Newly redesigned $50 notes arrive at banks beginning Tuesday 28 September ready to make their way into circulation and consumer wallets. Today marks the day the Federal Reserve System distributes the new note to banks and thus into the public's hands.
Fukui: Japan's economy is doing well
The Japanese economy is doing well, although it is still in an adjustment phase toward self-sustaining growth, Bank of Japan Governor Toshihiko Fukui said on Monday 27 September.
China predicts economy growing 8-9 pct in 2004
China's economy is on track to grow between 8 and 9 percent in 2004 despite government cooling measures, Yao Jingyuan, spokesman for the National Bureau of Statistics, was quoted today (28 September) as saying.
ECB member warns on oil price impact to growth
European Central Bank governing council member Vitor Constancio warned on Tuesday 28 September that high oil prices have not yet hurt global economic growth rates and inflation but the risks of a negative impact on both are real.
Tanigaki says Japan able to withstand oil impact
Japanese Finance Minister Sadakazu Tanigaki, who was re-appointed on Monday 27 September in a reshuffle, has expressed confidence that Japan's economic recovery will not be impacted much by surging global oil prices.
Interview with Callum McCarthy of the FSA
Callum McCarthy is now one year into his new role as chairman of the UK Financial Services Authority. CentralBankNet's Monday Special brings readers his thoughts on the FSA's enforcement policy, on the impact of international accounting standards and on…
After the EU Financial Services Action Plan
A joint document by HM Treasury, the Financial Services Authority and the Bank of England "EU Financial Services Action Plan: UK Response to the Reports of the Four Independent Experts Groups, September 2004" was published on 24 September.
HKMA promotes public awareness of new banknotes
The Hong Kong Monetary Authority (HKMA) said on Monday 27 September that its education campaign on the new series banknotes is making good progress. The main aim of the campaign is to promote public awareness of the security features of the remaining…
ECB's Papademos sees faster eurozone growth
European Central Bank Vice President Lucas Papademos said at the weekend that economic growth in the dozen euro member countries may be faster in coming quarters than has previously been forecast.
Ex-BOJ official says G7 to share views with China
The Group of Seven major economies are likely to seek to share views on the world economy with China in a financial meeting later this week rather than to negotiate on any specific issues, a former Bank of Japan executive has said.
3rd SEACEN payment systems meeting ends
The 3rd Meeting of Southeast Asian Central Bank (SEACEN), Directors of Payment and Settlement System and the 3rd SEACEN-CPSS course on `Payment and Settlement for Emerging Economies' ended with a dinner at The Empire Hotel and Country Club in Brunei last…
Ireland's cb admit sflaw in housing model
The Central Bank of Ireland has admitted that the housing model used to produce its first financial stability report last week is flawed. Reports said the current model does not take adequate account of the effect on lenders of a shock to the Irish…
Former governors to give evidence in BCCI case
The Bank of England will call on former governors as it resumes the defence of its role in the collapse of the Bank of Credit and Commerce International.
Corruption allegations against Zimbabwe's Gono
The Reserve Bank of Zimbabwe has been rocked by allegations of corruption with reports that the Governor, Gideon Gono, has been personally recruiting staff without advertising vacant positions, ZWNews reported this week.
Euromoney award goes to Argentina's Prat-Gay
At the IMF/World Bank meetings in Washington on October 3, Euromoney will present its central bank governor of the year award for 2004 to Alfonso Prat-Gay of Argentina. Request a free trial to view this article from Euromoney's September issue.
BOK sees salaries soar
The Bank of Korea said in a report to the National Assembly that average annual salary has jumped by 46 percent in the last four years.
Bomb threat at SARB
The South African Reserve Bank's head office received a telephoned bomb threat from an anonymous caller between 12 and 12.30 on Friday 17 September, but national payment systems and market operations were not affected.