News
Bundesbank introduces new code of conduct
The Deutsche Bundesbank announced this week that it was introducing a code of conduct for members of its executive board. The new rules oblige the eight board members to hold office in a way that is "independent and avoids bias and personal gain."
RBA's McGauchie promoted at Telstra Corp
Donald McGauchie, an external board member of the Reserve Bank of Australia, has been promoted to chairman of Telstra Corp, Australia's largest phone company.
Miner finds $10m diamond in Guinea Republic
A miner in Guinea struck lucky this week when his shovel unearthed a 182-carat diamond estimated to be worth $10 million. The rock is now under armed guard in Guinea's central bank.
Summary of Bank of England's BCCI defence so far
The Bank of England started its defence in the BCCI case on Monday 19th July. After today (23 July), the Court will break until Monday 27 September. As the BCCI trial does not progress further until late September, here is a brief summary of what Nick…
ECB information on the counterfeiting of the euro
In the first half of 2004, a total of 307,223 counterfeit euro banknotes were withdrawn from circulation, the European Central Bank (ECB) said on 22 July.
Bank of Russia to introduce new banknotes
The Russian central bank plans to introduce modified banknotes with the denominations of 10, 50, 100, 500 and 1,000 rubles from 16 August, first deputy chairman Arnold Voilukov said at a press conference.
Slovak central bank opens tender for euro designs
The Slovak National Bank (NBS) has called for proposals for the symbols to be featured on the euro coins to be used in Slovakia once the country adopts the single European currency.
Bank of England's furniture goes under the hammer
The Bank of England raised £266,605 on Wednesday 21 july by auctioning antique furniture after the 310-year-old institution adopted an open-plan layout at its London headquarters.
Argentina raises 2004 economic growth prediction
The Argentinian central bank on Thursday 22 July revised its forecast on the country's GDP growth rate for 2004 from 6 to 8 percent. The bank also predicted that the inflation rate will stand at 6.7 percent and the unemployment rate will drop from 14.5…
Singapore's MAS likely to get new chief soon
Speculation is growing that the handover on 12 August of leadership in Singapore will lead to a change at the helm of the de facto central bank, the Monetary Authority of Singapore. Observers are split on two possible candidates to replace current…
ECB's Weber: No inflation pressure in medium-term
The European Central Bank "does not currently see inflationary pressures in the medium term" in the 12-country eurozone, Bundesbank President Axel Weber said in a newspaper interview published on Thursday 22 July.
ECB's Issing sees stronger eurozone growth
European Central Bank chief economist Otmar Issing said he expects next year's growth in the euro area will gain further strength and the inflation rate would be below 2pc.
Bank of Central Africa to use CMA payment system
The Bank of Central Africa is implementing a real-time gross settlement (RTGS) platform supplied by Stockholm-based CMA Small Systems.
Bosnia & Serb cbs sign memorandum of understanding
National Bank of Serbia (NBS) Governor Radovan Jelasic on Wednesday 21 July in Banja Luka signed a memorandum of understanding and cooperation in the field of regulation of banking operations with Central Bank of Bosnia and Herzegovina CBBH) Governor…
IMF chief Rato details Africa visit
International Monetary Fund managing director Rodrigo Rato will visit three African countries in August for talks on poverty reduction and other challenges on the continent.
Philadelphia Fed Business Outlook Survey, Jul 2004
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, July 2004, expansion in the region's manufacturing sector continues. This month the manufacturers were asked about increases in wages made to attract or retain workers.
BoE united on decision to hold rates, 7/8 July
Minutes for the Bank of England's 7 and 8 July Monetary Policy Committee meeting released on Wednesday 21 July showed the MPC voted unanimously to keep interest rates steady at 4.5 per cent but indicated that borrowing costs would have to rise again in…
ECB Memoranda of Understanding
The ECB issued a news release on Wednesday 21 July announcing the adherence of the central banks and banking supervisors of the New Member States to the Memoranda of Understanding on High Level Principles of Co-operation in Crisis Management Situations…
Russian cb introduces new currency regulations
Several rules concerning currency regulation will enter into force in Russia on 1 August, the department of external and public relations of the central bank reported.
Thailand holds interest rates unchanged
The Bank of Thailand maintained its key interest rate at 1.25% on Wednesday 21 July, but said it will consider raising rates in the face of inflationary pressures.
Japan revises outlook for economic growth up
The Japanese government on Wednesday revised its forecast for economic growth for the fiscal year through March 2005 upward to 3.5 percent.
Bank of Canada keeps interest rates unchanged
The Bank of Canada announced on Tuesday 20 July that it is maintaining its target for the overnight rate at 2 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 2 1/4 per cent, the bank said in a press release.
Minehan sees US inflation rise as temporary
Federal Reserve Bank of Boston president Cathy Minehan said on Monday 19 July that disappointing economic data in June was likely to be temporary and the recovery is now self-sustaining.
Serbian central bank governor to visit Sarajevo
Serbian National Bank governor Radovan Jelasic is scheduled to visit the Bosnia-Hercegovina Central Bank on Wednesday, 21 July.