News
Brash fires Maori MP who criticised his speech
Last week we reported New Zealand National Party Maori MP Georgina te Heuheu's criticism of "Maori bashing" in a speech made by the party's leader, and former governor of the RBNZ, Don Brash. But Brash defended his speech and this week fired the MP.
Ireland names candidate for ECB position
Ireland's Finance Minister Charlie McCreevy proposed Michael Tutty this week as the country's nominated candidate to sit on the Executive Board of the European Central Bank.
Coin chaos in Vietnam as children eat them
The State Bank of Vietnam's recent issue of three new coins turned to disaster when children started eating them after mistaking them for sweets.
Macfarlane's credit card bill rumpus
Australia's newspapers went into overdrive this week after one was able to obtain RBA governor Ian Macfarlane's American Express statements under a "Freedom of Information request". The bank was forced to defend Macfarlane's $249,000 credit card bill,…
Economic outlook 'mixed' at Chicago Fed
Chicago Fed president Michael Moskow gave his first speech of 2004 on Tuesday. But while we're sure he got his message across loud and clear, the bank's own website reported it with a spelling mistake in the title. Or is the US economy in more of a…
'Capitalism is not working'
Former US Treasury Secretary Paul O'Neill's recent book "The Price of Loyalty" contains various quotes attributed to Alan Greenspan. Although his comments on President Bush got much publicity recently, what the Fed maestro had to say was largely…
Gerashchenko's appeal fails
Russia's Supreme Court rejected an appeal from former central bank chairman Viktor Gerashchenko on Friday 6 February over refusal by the Central Electoral Commission to register him a candidate in the upcoming presidential election.
BOK governor to attend BIS meeting
Bank of Korea Governor Park Seung plans to leave for Hong Kong on Sunday 8 February to attend the Asian Central Bank Governors' Meeting held by the Bank for International Settlements (BIS).
Malaysia's Zeti: ringgit peg 'not misaligned'
Malaysia's central bank governor Zeti Akhtar Aziz said on Friday 6 February that the 3.80 to the US dollar ringgit peg is appropriate and that the Malaysian currency is "not misaligned".
CBK 'made history' by posting Sh7 bn loss
The Central Bank of Kenya made a Sh7 billion loss in 1993, described by a witness on Thursday 5 February as abnormal because it was uncharacteristic of a central bank to make losses.
Waring begins RNBZ role
With a Christmas delivery of bulk reports and background material, Professor Marilyn Waring has unofficially started her appointment to the board of the Reserve Bank of New Zealand, reported Massey University's 'Massey News'.
Fed's changes to payments system risk statement
The Federal Reserve Board on Thursday 5 February announced that, beginning in July 2006, it will require Reserve Banks to release interest and redemption payments on securities issued by government-sponsored enterprises and international organizations.
Sveriges Riksbank lowers repo rate by 0.25%
At its meeting on Thursday, 5 February, the Executive Board of the Swedish central bank decided to lower the repo rate from 2.75 to 2.50 per cent.
Argentina's Lavagna to meet IMF's Koehler
Argentine Economy Minister Roberto Lavagna will meet IMF Managing Director Horst Koehler in Miami on Monday 9 February to discuss the second review of a $13.3 billion loan deal, an economy ministry source said on Thursday.
G7 ministers prepare for meeting
Finance ministers of the rich G7 nations are converging on Florida for a weekend meeting that analysts say will produce little concensus.
Bank of England raises rates to 4%
The Bank of England's Monetary Policy Committee voted on Thursday 5 February to raise the Bank's repo rate by 0.25 percentage points. In a statement the MPC highlighted the 'more broadly based' world economic recovery but judged the change was need to…
IMF officials to meet Iraqi finance chiefs
Iraq's finance minister and central bank governor are to meet officials at the International Monetary Fund after attending a Group of Seven meeting in Boca Raton, Florida.
Report says Belgium set to propose ECB candidate
According to a report in a Belgian local daily on Thursday 5 February, Peter Praet, a central bank director, is set to be put forward as a replacement to a retiring ECB board member.
Schroeder suggests gold reserves used to fund R&D
German Chancellor Gerhard Schroeder was quoted in an interview on Thursday 5 February as suggesting that Bundesbank gold reserves could be used to finance research and development projects.
BOJ says recovery on track, but yen concerns
Bank of Japan Governor Toshihiko Fukui said on Thursday 5 February that the Japanese economy probably performed strongly in the last quarter of 2003, but he highlighted the risk posed by a strong yen following the BOJ's decision to keep monetary policy…
Court told BoE broke rules over BCCI
It was alleged in the High Court in London on Wednesday 4 February that the Bank of England broke banking regulations in two areas when it licensed the now collapsed Bank of Credit and Commerce International.
ECB press conference with questions and answers
At the ECB's press conference on Thursday 5 February, after leaving eurozone interest rates on hold, Jean-Claude Trichet said he saw no need to amend the European Stability and Growth Pact and that the bank would not rush into any decision that impacted…
RBA holds rates unchanged
The Reserve Bank of Australia left interest rates unchanged on Wednesday 4 February, pausing after two increases in November and December.
Bulgaria plans to restrict central bank powers
Bulgaria's Parliament has passed amendments, at a first reading, to the state budget law concerning the powers of the governor of the Bulgarian National Bank.