News
RBNZ appoint Head of Operations
The Reserve Bank of New Zealand on Tuesday 24 June announced the appointment of Murray Bain as the Bank's Assistant Governor and Head of Operations. He will have particular responsibility for the Bank's financial, corporate, commercial and other internal…
BoJ Monetary Policy minutes, 30 April
Minutes of the Bank of Japan's Monetary Policy Meeting on 30 April 2003, released 16 June. The minutes showed at least two of the BoJ's nine policy board members favour the introduction of a "reference rate of inflation" to halt deflation.
BOK governor may get more say over board members
A draft bill may give the Bank of Korea more influence over the appointment of members to its monetary policy board, Dow Jones reports. The proposed bill would increase the number of members the governor, Park Seung, can recommend to the board.
Belgian central bank shares drop on court ruling
A commercial court in Belgium has dismissed as unfounded a law suit calling for an extraordinary meeting of shareholders of the Belgian central bank, according to Reuters. The meeting was to ask for the dissolution of the Bank because a transfer of the…
Russian c bank to amend bank offshore capital law
Russian banks may be given a year to lower the share of their equity capital in offshore companies to 10% under new amendments to the law on banks and banking activities, according to Kommersant. If the amendments are passed, banks will be obliged to…
CBN fails to take its place on NBCB governing body
A month after the National Board for Community Banks (NBCB) was inaugurated the Central Bank of Nigeria (CBN) has not attended any meetings nor fill its position on the board, NBCB sources confirmed to Vanguard, Nigeria.
Italy unveils a proposed 1 euro note
Italian Finance Minister Giulio Tremonti has come out in favour of the introduction of €1 notes, RTE News reports. Belgium and Austria have signalled they too favour small denomination notes with at least five eurozone states thought to be backing the…
Venezuela c bank seeks easing of forex controls
The central bank of Venezuela has appealed for a relaxation of the foreign exchange control regime currently in place, according to a report in the Financial Times. Domingo Maza Zavala, a central bank director, said the bank has called on the finance…
Ukraine central bank to fine banks for laundering
A resolution which came into force on 21 June allows the National Bank of Ukraine to fine banks 0.01 per cent for every violation of banking legislation on money laundering, according to a report by the Interfax-Ukraine news agency. The government hopes…
IMF deputy says U.S. Fed has room to cut rates
Deputy IMF managing director Eduardo Aninat said in a speech that the Federal Reserve has played a valuable role in sustaining domestic demand and "retains room to provide further stimulus should the recovery falter", according to a report by Reuters.
Brazil may raise inflation target
Economists have said that Brazil is likely to raise its inflation target to a more realistic level which could allow the central bank more room to reduce interest rates, according to a report by Bloomberg.
Bundesbank report reassures over deflation fears
In its June monthly report the Bundesbank acknowledged deflationary risk does exist, Reuters reports, but said that there was no sign it would turn into a damaging reality.
Bank of Canada appoint sSpecial Adviser
The Bank of Canada on Friday 20 June announced the appointment of Professor John Helliwell to the visiting-economist position of Special Adviser during 2003 and 2004.
HKMA warns of suspicious bank web site
The Hong Kong Monetary Authority (HKMA) alerted members of the public in Hong Kong on Thursday to a suspected internet fraud involving "Banquedenationale Bank".
Libya unifies dinar exchange rate
The deputy governor of the central bank of Libya, Farhat Qidra, said on Friday 20 June " The official foreign exchange rate has become unified now", according to the Arabic News. Previously different exchange rates applied for private companies and…
ECBs Solans says uncertainties cloud rates outlook
In an interview with the Financial Times, Eugenio Domingo Solans of the ECB said the current level of interest rates in the eurozone was favourable for a recovery. But the situation would be reassessed at the next meeting as the outlook was still clouded…
Serb central bank rejects claims of bankruptcy
The governor of the National Bank of Serbia (NBS) has rebuffed claims that the central bank is in financial difficulty, according to the Tanjug news agency. Mladjan Dinkic was responding to claims by Serbian Justice Minister Vladan Batic that the Finance…
Mozambique c bank governor denies economic crisis
The governor of the Mozambique central bank Adriano Maleiane has tried to calm matters in the African nation, according to All Africa News, by denying any crisis in the economy and blaming increased prices on the rise in the value of the South African…
Ireland's central bank profit hits E828.6m in 2002
The central bank of Ireland published its annual report on Monday 23 June, showing it made a profit of E828.6m in the year to end-December 200, according to BizWorld.
Germany faces small deflation risk Bundesbank says
The Bundesbank said in its June monthly report published on Monday 23 June that there was only a "small" risk of deflation in Germany and no "acute" signs of deflation exist at present, according to a report by Bloomberg.
Bank Of Ghana to sack 1000 workers
A redundancy programme at the Bank of Ghana will affect 1000 of the central bank's 2600 staff. The Governor of the Bank summoned the workers to a meeting at the Bank's auditorium last Wednesday to inform them about the development, Ghana Web reported.
BOE George, Mortgage change to help UK adopt euro
Speaking on Monday in an interview with BBC radio, the outgoing Bank of England governor Sir Edward George said he was optimistic the UK economy was entering a period of more balanced growth, and that the government should not raise taxes in the near…
EU endorses Trichet as next ECB president
EU leaders have unanimously backed the appointment process of Bank of France Governor Jean-Claude Trichet as the next president of the ECB, according to EurActiv. Luxembourg Prime Minister Jean-Claude Juncker told reporters. "Jean-Claude Trichet will be…
Hooray for Trichet!
So the Paris courts have once and for all cleared Banque de France governor Jean-Claude Trichet and his predecessor Jacques de Larosiere from the unfounded allegations that had been made about their role in the Credit Lyonnais affair more than 10 years…