News
Iran's Sheybani stresses use of modern technology
Ebrahim Sheybani, the governor of the central bank of Iran, told a seminar on Saturday 10 July that implementing policies to use modern technology with the aim of expanding non-oil exports sector would act as an impetus for higher economic growth and…
European Parliament on Pact decision
Christa Randzio-Plath, outgoing chair of the Committee on Economic and Monetary Affairs of the European Parliament, expressed her views on the Stability and Growth Pact issue in this press release, 13 July.
Bundesbank urges Brussels to 'reactivate' pact
The Bundesbank urged the European Commission in Brussels Tuesday to "reactivate" the European Stability and Growth Pact in its current form, following a landmark ruling on the EU's strict budget rules by the European Court of Justice.
Bundesbank warns of small coin shortage
in a press release of 8 June the Bundesbank said on there is a shortage of small-denomination coins in many euro-area countries. A particularly relevant factor seems to be that people are setting aside the small coins given them in change rather than…
Brazil cb COPOM Minutes15/16 June
The Banco Central Do Brasil has published the minutes of the 97th meeting of the Monetary Policy Committee (COPOM), 15 and 16 June. Recent economic activity indicators confirm the continuity of the economic rebound process initiated in the second quarter…
Hoenig sees US inflation staying below 2%
Kansas City Federal Reserve Bank President Thomas Hoenig said in a speech to a business group that he doesn't think inflation will exceed a 2.0 percent rate in the US.
No need for ECB to hike rates: Buba's Weber
Bundesbank president and European Central Bank governing council member Axel Weber said in an interview published at the weekend that available information indicates the ECB will not need to change its interest rates in the foreseeable future.
UK's Brown urges gold revaluation for debt relief
Gordon Brown, the UK Chancellor of the Exchequer, on Friday 9 July called on the International Monetary Fund to revalue its gold reserves as a method of releasing more money for debt relief for the world's poorest countries.
India introduces mobile ATM
The State Bank of India on Saturday 11 July rolled out its first mobile ATM to improve accessibility to customers in remote areas and tourist locations in the country.
SARB's Marcus makes abrupt departure
Gill Marcus, deputy governor of the South African Reserve Bank, left her post on 30 June at the end of her five year contract, in a move local press reports described as unexpected.
Staff audit begins at Central Bank of Nigeria
The central bank of Nigeria (CBN) is embarking on a staff audit exercise aimed at fishing out ghost workers on its payroll, Vanguard reported this week. The exercise will cover serving members of staff and pensioners.
After Greenspan, Who?
Alan Greenspan has just begun another term as chairman of the Federal Reserve, but a number of new hirings suggests a deep pool of potential heirs is being assembled, this article says.
Interview with St Louis Fed's William Poole
In the interview "My goal for inflation is zero" published this week, St Louis Fed President William Poole talks about the central bank's need to stay ahead of the curve when it comes to rising prices. He also said he believes that Fannie Mae and Freddie…
Alan Greenspan is the man!
It's no surprise that President George W. Bush has asked Alan Greenspan to re-enlist for a fifth four-year term as chairman of the Federal Reserve, this article says, especially since Bush pledged to do so one year ago. Comparing Greenspan to four other…
Decision on 'Mr Euro' delayed to September
Finance ministers from the 12-country eurozone have deferred until September a decision on creating a "Mr Euro" as the political face of the single currency.
Leeladhar, Gopinath tipped as RBI dep governors
Union Bank of India chairman V Leeladhar and Reserve Bank of India (RBI) executive director Shyamala Gopinath are set to take charge as future deputy governors of the RBI, The Economic Times reported this week.
Minutes from the Sveriges Riksbank Meeting, 23 Jun
Minutes of the Sveriges Riksbank Executive Board meeting on 23 June were published 8 July. One member summed up the discussion of the international economic situation, saying developments had largely confirmed the assessment in the previous Inflation…
Portugal increase growth forecast
The Bank of Portugal has raised its forecast for economic growth this year owing to a higher-than-expected increase in internal demand, central bank Governor Vitor Constancio said.
NBP urges faster spending cuts for euro in 2009
Poland should move ahead quicker with its spending-reduction plan to cut the budget deficit and allow the largest new European Union member to adopt the euro before 2009, deputy governor of the National Bank of Poland (NBP) Krzysztof Rybinski said.
PBOC's Zhou says China won't loosen loan controls
The People's Bank of China will not loosen control over loan extension despite complaints from local businesses about cash flow problems, according to Governor Zhou Xiaochuan of the People's Bank of China.
Finland missing 1.45bn markka after euro switch
Close to 1.45 billion Finnish markka, equivalent to 244 million euros, have yet to be exchanged for euros two and a half years after Finland switched to the euro, a Bank of Finland official said.
Reports of Russian bank crisis in progress
Pravda reported Friday a Russian banking crisis in progress, causing a rapid appreciation of the US dollar against the ruble. But a former government official said the situation could hardly be called a crisis.
Central banking in New Zealand
The Reserve Bank of New Zealand has updated one of its brochures, entitled "Central Banking in New Zealand", which is a generic description of the Reserve Bank's functions and its governance arrangements.
RBI's Mohan says rates unlikely to change
the RBI's deputy governor, Rakesh Mohan, said on Thursday 8 July that he saw no change in the country's official interest rate policy following the new government's federal budget, presented earlier in the day.