News
Revisions to Fed's policy on payments system risk
The Federal Reserve Board announced on Thursday 23 September that it has revised its Policy Statement on Payments System Risk (PSR policy) concerning interest and redemption payments on securities issued by government-sponsored enterprises (GSEs) and…
FOMC Minutes, 10 August
Minutes from the Federal Reserve's 10 August FOMC meeting released on 24 September showed that with interest rates so low and inflation rising, Fed officials saw the need in coming quarters for a "significant" number of interest rate rises.
Switzerland's last tranche of gold sales
In spring 2000, the Swiss National Bank began selling that part of the gold reserves no longer required for monetary policy purposes. The sales - which will total 1,300 tonnes - have to date been effected according to the agreement on gold sales…
Fed won't let budget gap push up prices- Gramlich
Federal Reserve Board Governor Edward Gramlich said on Thursday 23 September that credible monetary policies can prevent large government budget gaps from stoking inflation, and expressed optimism that would be the case in the United States.
Japan to issue anti-counterfeit banknotes
Japan will issue what are described as the world's most advanced anti-counterfeit banknotes on 1 November.
China's Wen says no plan for imminent rate rise
China's Premier Wen Jiabao has ruled out the possibility of an imminent rise in interest rates and added that the country would consider its own macroeconomic situation and inflation before making any decision on rates.
NBP's relations with government 'heating up'
Relations between Poland's government and the central bank's Monetary Policy Council (RPP) are likely to heat up again, Interfax reported, after Economy and Labor Minister Jerzy Hausner called the current monetary policy "improper," saying it threatened…
Removal of BOZ governor 'should be by tribunal'
In a written submission to Zambia's Constitution Review Commission, the governor of the Bank of Zambia Dr Caleb Fundanga said the removal of a central bank governor from office should be by a tribunal constituted by the Chief Justice.
Federal Reserve raises US rates
The Federal Open Market Committee decided on Tuesday 21 September to raise its target for the federal funds rate by 25 basis points to 1-3/4 percent. In its press release the FOMC said despite the rise in energy prices, inflation and inflation…
Norges Bank keeps interest rates unchanged
Norges Bank's Executive Board decided on Wednesday 23 September to leave interest rates unchanged. Norges Bank's key interest rate, the sight deposit rate, therefore remains at 1.75 per cent. The overnight lending rate also remains unchanged.
Bank of England voted 9-0 to hold rates in Sept
The Bank of England said on Wednesday 22 September that it voted 9-0 to hold rates at 4.75 per cent in its 8 and 9 September MPC meeting. The Bank noted that recent labour market data was "surprisingly weak," though inflationary pressures were still…
ECB chief sees recovery, warns on deficit easing
European Central Bank president Jean-Claude Trichet told the Eurpoean Parliament on Wednesday 23 September that the eurozone economy was on track for modest further growth next year but condemned proposals to ease budget rules as "dangerous".
Greece doubles 2000 public defict to 4.1%
The Greek government acknowledged on Wednesday 23 September that the country's annual public deficit estimates from 2000 to 2002 had been sharply underestimated, a revelation described by the European Central Bank head as "an enormous problem".
Hungary's cb chief expects inflation around 7%
Average inflation in 2004 will be "around 7%," but will decline to 4-5% in 2005, Zsigmond Jarai, the president of central bank MNB told parliament's budget committee on Tuesday 21 September.
Irish banking system sound, says cb's Hurley
Speaking at the publication of the central bank of Ireland's Financial Stability Report on Tuesday 21 September, the governor, John Hurley, said: "The central aim of this report is to analyse and assess the overall health of the financial system and to…
ECB's Issing sees inflation falling below 2%
The European Central Bank is unhappy with the current level of inflation in the eurozone but expects it to fall below 2% in the second quarter of next year, chief economist Otmar Issing said on Monday 20 September.
ECB, BOJ right on wait and see policy says OECD
OECD chief economist Jean-Philippe Cotis said that the European Central Bank and the Bank of Japan are right to maintain a "wait and see" positions in their monetary policies.
IMF sees potential hazard in US fiscal policy
The managing director of the International Monetary Fund, Rodrigo de Rato, said on Monday 20 September that the dollar would have to fall and the United States would have to tackle its growing indebtedness to avoid a threat to the world economy some time…
Fed expected to raise rates despite concerns
The Federal Reserves interest rate setting FOMC gathered on Tuesday 21 September, with the expectation they will raise US interest rates for a third time this year despite lingering signs of economic stress.
China price performance remains stable, says PBOC
"The price performance in China remains stable on the whole," said Governor of the People's Bank of China Zhou Xiaochuan on Sunday.
Afghanistan taking steps to capital market launch
Afghanistan took its first steps towards a capital market with an auction on Sunday of capital notes which will allow the country's banks to determine a market-driven interest rate. "This is an important step for us. It is the the beginning of a capital…
Canada's prospects best for year: Dodge
Bank of Canada Governor David Dodge told Finance Minister Ralph Goodale in July the country's chances of steady economic and job growth are the best in years, Bloomberg News reported under Canada's Access to Information Act.
Argentina's repayment dates to IMF extended by 1yr
Argentina's debt repayment dates to the International Monetary Fund were extended by a year on Friday, the agency said.
NBP says Poland's 2006 ERM II depends on deficit
Poland's joining the Exchange Rate Mechanism ERM II in mid-2006 depends on its meeting the budget deficit criterion, Polish National Bank (NBP) Vice-President Krzysztof Rybinski said.