News
IMF's Krueger says more flexible rupee desirable
Anne Krueger said on Wednesday 21 January that the Indian rupee must be allowed more flexibility and the Reserve Bank of India should intervene less in the currency market.
EU to base regulators in London and Frankfurt
European Union finance ministers agreed on Tuesday 20 January to base two new financial regulatory committees in London and Frankfurt.
Rapid yen moves will be acted on - Tanigaki
Japanese Finance Minister Sadakazu Tanigaki said at the weekend that Japan will keep acting against rapid and speculative moves in foreign exchange markets.
As euro soars ECB must be ready to cut - Rogoff
The euro could strengthen to $1.40 or beyond and the European Central Bank must be prepared to cut interest rates in response, former IMF chief economist Kenneth Rogoff was quoted as saying.
BOJ makes changes to policy guidelines
At the Bank of Japan's Monetary Policy Meeting held on Tuesday 20 January, the bank decided to change the main operating target in the guideline for money market operations.
Bank of Canada lowers rate target to 2.5%
The Bank of Canada announced on Tuesday 20 January that it is lowering its target for the overnight rate by one-quarter of one percentage point to 2 1/2 per cent.
OECD report UK 'well placed' for economic recovery
The OECD said on Tuesday 20 January that Britain is "well placed" to benefit from the current global economic recovery, but a tight grip must be kept on public finances to avoid a rising deficit.
Fukui vows to fight deflation as credit eased
Bank of Japan chief Toshihiko Fukui on Tuesday 21 January renewed his pledge to fight deflation with sustained credit easing while saying the risk of a high yen curtailing the economic recovery has not increased.
Prodi's pride in the euro
Speaking to the London School of Economics on Monday evening, Romano Prodi, president of the European Commission until October 2004, made some unscripted remarks on the international role of the euro. CentralBankNet reports.
Central banks in 2004
Following years of growth the number of central banks, and the number of staff they employ now looks set to fall, according to research carried out for the 2004 edition of Central Banking Publications' Central Bank Directory.
Japan raises view on economy
Japan raised its assessment of its economy on Monday 19 January, saying strong exports are boosting output and beginning to filter through to consumption.
Mundell proposes $1.30 ceiling on euro
Nobel-prize winning economist Robert Mundell was quoted on Monday 19 January as saying Group of Seven rich nations should intervene to halt a euro rise beyond $1.30.
Austria's Liebscher gold agreement to be renewed
Austria's central bank head was quoted on Monday 19 January as saying that European central banks are set to renew the so-called Washington Agreement on gold which limits sales.
Bahrain plans new central bank to replace BMA
Ministers suggested at a Cabinet meeting that a new law should organise a Bahrain central bank and monetary firms to replace the BMA.
Bank of Italy responds to Parmalat criticism
Italy's central bank mounted a fight back at the weekend following government accusations that it had neglected its regulatory duties and ignored warnings over the Parmalat fraud.
Pakistan plans to open ATM service in Afghanistan
Afghanistan's banking sector will move over the next few weeks from comprising just six rundown specialist banks to one where several international commercial operations compete for business, according to Afghanistan's central bank chief.
Bank cards get OK for Hong Kong use
Mainland-based banks have got agreement from the People's Bank of China to expand their bank card business in Hong Kong, even though overseas banks are still banned from issuing bank cards on the Chinese mainland.
Canada to unveil its new $100 bank note
Canada will unveil its new $100 bank note on 28 January 2004. The first high denomination note in the Canadian Journey series will be unveiled by the Minister of Natural Resources Canada, and Bank of Canada Governor David Dodge.
ECB announces results of Eurosystem consultation
The ECB released the result of the public consultation on measures to improve the collateral framework of the Eurosystem on 15 January.
IIF says IMF breaking rules on Argentina
The International Monetary Fund has come under fire from the Institute of International Finance who accuse it of breaking its own rules by lending money to Argentina.
Fed's McTeer : if growth continues jobs will come
Robert McTeer, president of the Federal Reserve Bank of Dallas, said on Thursday e15 January that mployment growth has been disappointing but should rebound as long as the economy keeps growing at a healthy pace.
No inflation threat in US- Fed's Hoenig
President Thomas Hoenig of the Kansas City Fed spoke optimistically on Thursday 15 January about U.S. economic growth this year and said inflation would be kept under control by the slack in the labour market.
Dollar not hurting US economy- Atlanta's Guynn
Atlanta Federal Reserve President Jack Guynn said on Thursday 15 January that the US dollar's decline had been controlled and was not hitting the American economy.
Dutch won't back EU budget case
Dutch Finance Minister Gerrit Zalm has said that his government will not support the European Commission's legal action to enforce the EU stability pact.