News
BoJ's Monetary Policy Meeting, 9/10 August
The Bank of Japan released the minutes from its 9 and 10 August meeting on 14 September. In the minutes of its monthly meeting the BoJ cautioned that high oil prices will have a negative impact on the Japanese economy.
'No urgency' to lift rates says Fed's Bies
Federal Reserve Governor Susan Bies said the central bank faces ``no urgency'' to lift the benchmark U.S. interest rate while awaiting more evidence that economic expansion is steady.
BOJ may hold rates down until 2008
The Bank of Japan may hold its key interest rate near zero per cent until 2008 as declines in rice and electricity prices fuel deflation, Mizuho Securities Co. economist Yasunari Ueno wrote in a report, according to Bloomberg News.
China eyes capital market reforms
China has succeeded in curbing investment and credit growth, and the priority now is to free up interest rates, People's Bank of China deputy governor Li Ruogu said in remarks that may signal long-awaited capital market reforms are drawing nearer.
Russia cb prepares for world-class infrastructure
At a strategic meeting on June 23, 2004 in St. Petersburg, Russia, Michail Senatorov, Deputy Chairman of the Russian Central Bank, and Lazaro Campos, Member of the SWIFT Executive Committee, signed a Memorandum of Understanding (MoU) in which the bank…
ECB's Trichet says he's still 'Mr Euro'
ECB president Jean-Claude Trichet said Saturday he remained firmly in place as "Mr Euro" despite the appointment of Luxembourg's Prime Minister Jean-Claude Juncker as the political face of the 12-nation eurozone.
Bank of Japan Monthly Report, September 2004
The Bank of Japan released the English version of its September 2004 monthly report on 13 September. In the report the bank said Japan's economy continues to recover. But the report also says exports and industrial production increased at a slower pace,…
Rate hikes can be measured, says Dallas Fed chief
Dallas Federal Reserve President Robert McTeer said on Friday 10 September that he believed further interest rate increases could be measured and noted that economic growth would be stronger in the months ahead.
IMF's Krueger to visit Moscow
The International Monetary Fund's First Deputy Managing Director Anne Krueger will be visiting Moscow September 12- 15, IMF External Relations Department Director Thomas Dawson announced in Washington on Thursday 9 September.
ECB chief economist says Pact losing its bite
The European Central Bank's chief economist has described the current status of the eurozone's Stability and Growth Pact as 'intolerable'. Otmar Issing told the German newspaper Die Welt that without a credible threat of sanctions, the pact was 'losing…
Weak EU growth threat to recovery: UK's Brown
Weak economic growth in the European Union is threatening the "uneven and fragile" global recovery, British Treasury chief Gordon Brown said in comments published on Friday 10 September.
Global recovery on track, say G10 central bankers
The global economic recovery is on track but monetary authorities have to remain vigilant against inflationary dangers, the G10 central bank governors said on Monday 13 Septemberin Basel, Switzerland.
Argentine protesters at IMF storm cb building
About 400 protesters waving banners marched into the main entrance of the central bank of Argentina in Buenos Aires last week, calling for President Nestor Kirchner to end relations with the International Monetary Fund.
Elections to Danmarks Nationalbank Board
The Danish Parliament has elected Ms Rikke Hvilshj, MP, and Ms Pia Christmas-Mller, MP, to the Board of Directors of Danmarks Nationalbank for a term ending on 31 March 2006.
Bank of Israel staff to get medals
The Bank of Israel is to spend NIS 320,000 on medals to be awarded to all members of staff in commemoration of the central bank's Jubilee year, Haaretz reported. However, a planned celebration for staff and retired workers was cancelled, the report said.
Former RBA chief criticises PM on rates
Former Reserve Bank of Australia governor Bernie Fraser said in an interview he expects interest rates to rise straight after the election, partly because of what he sees as the lax budgetary policies of the Howard government.
Financial Stability Forum hold its twelfth meeting
The Financial Stability Forum (FSF), chaired by Roger Ferguson, Vice Chairman of the Federal Reserve, met on 8-9 September in Washington DC. Members discussed risks and vulnerabilities in the international financial system and offshore financial centres…
Juncker confirmed as Mr Euro
Luxembourg Prime Minister Jean-Claude Juncker was named on Friday 10 September as the first "Mr Euro", a political figurehead to represent the 12-nation eurozone.
Eichel raps Bundesbank over stability pact
German Finance Minister Hans Eichel rapped the Bundesbank on Friday 10 September for its recent criticism of the EU's proposed changes to the stability and growth pact in a press release titled "Do not weaken the Stability and Growth Pact".
Robust expansion ahead: Minneapolis Fed's Stern
Federal Reserve Bank of Minneapolis president Gary Stern said Thursday that the US economy is likely to grow at a rate of 4 percent for the remainder of this year.
Fed's Guynn says price pressures won't be ignored
U.S. inflation has "stayed in a relatively narrow band" but the Fed will not take its eye off the ball, President of the Federal Reserve Bank of Atlanta Jack Guynn said in an interview with Bloomberg News published on Thursday 9 September.
NBP's Balcerowicz says budget efforts not enough
Polish Central Bank Governor Leszek Balcerowicz said efforts to narrow the budget deficit next year won't be enough to help the country qualify for the euro by 2007.
Belgium may scrap euro cent coins
Belgium is to stop producing one- and two euro cent coins, following in the footsteps of eurozone partners Finland and the Netherlands, AFP reported Finance Minister Didier Reynders as saying.
RBNZ increases OCR to 6.25 per cent
The Reserve Bank of New Zealand has increased the Official Cash Rate from 6.00 per cent to 6.25 per cent. The RBNZ said that further tightening of monetary policy is likely to be required.