News
Bank of Japan leaves monetary policy unchanged
The Bank of Japan said on Friday 12 September at the end of its two-day meeting that it would leave monetary policy unchanged,according to AFX-ASIA. The BoJ said in a three-paragraph statement that the central bank will "conduct money market operations,…
Bank of Spain governor to appear before congress
The governor of the Bank of Spain, Jaime Caruana, is set to appear before a congressional commission on Wednesday 17 September to report on the way the central bank has handled the Eurobank situation, according to a report by Expansion.
UAE to take part in Arab c bank meeting in Doha
Sultan bin Nasser Al Suweidi, Governor of the UAE Central Bank, will lead the UAE delegation to the Doha meeting, according to the Khaleej Times. The meeting will include discussion of a paper submitted by the UAE on role of the monetary authorities in…
Iraq's central bank chief pledges to cut inflation
Sinan Al Shibibi, the newly appointed governor of the central bank of Iraq, said on Thursday 11 September that his top priorities were to fight inflation and to support the currency, according to the Gulf Daily News. But he acknowledged he has few of the…
US Treasury head praises IMF-Argentina deal
US Treasury Secretary John Snow said on Thursday September 11 that he supported the IMF and Argentina for having reached a new three-year financial deal. He said, "I think we have come out with a pretty good agreement" although analysts widely condemned…
BOJ governor Fukui to visit China in October
Bank of Japan governor Toshihiko Fukui will visit China in October and meet with the governor of the People's Bank of China, according to a report by Reuters. Fukui is likely to exchange opinions with Chinese officials on the yuan currency.
Charges against BSP governor dismissed
The Philippines Supreme Court on Thursday dismissed criminal charges filed against BSP Governor Rafael Buenaventura and 20 other central bank officials, according to a report by ABS-cbnews. In a resolution dated August 11 but obtained by reporters only…
France in hot water at EU finance meeting
After meeting his British counterpart Tony Blair in London on Thursday 11 September, French Prime Minister Jean-Pierre Raffarin claimed a "common view" was emerging about the need not just to respect fiscal discipline but to go for growth as well.,…
Trichet lays down the gauntlet
Subjected to a grilling by its Economic and Monetary Affairs Committee in one of the seemingly infinite rooms of the European Parliament's nightmarishly labyrinthine buildings in Brussels on September 11, Jean-Claude Trichet gingerly and with consummate…
New assignments in the Office of Fed Board Members
The Federal Reserve Board has announced the appointment of Winthrop P. Hambley as Assistant to the Board and head of the Congressional Liaison Office, 10 September. and Laricke Blanchard as Special Assistant to the Board.
Iraq Council names central bank governor
Sinan Mohammed Rida al-Shibibi, an economist, was named on Wednesday 10 September as Iraq's first central bank governor since the removal of Saddam Hussein from power. The move to appoint a permanent governor comes ahead of an important donors'…
Sweden says euro referendum to go ahead Sunday
Despite the murder of Sweden's Foreign Minister Anna Lindh on Wednesday, the euro referendum will still go ahead on Sunday, Swedish Prime Minister Goran Persson said, according to Reuters.
ECBs Issing finds flaws in planned EU constitution
European Central Bank chief economist Otmar Issing said in an interview, published in EU Business, "I have difficulty in understanding why there is resistance to reinstating price stability as one of the goals of the EU" and that while there had been…
IMF agrees to reschedule Argentina's loan
Argentine President Nestor Kirchner announced on Wednesday 10 September that the outlines of a three-year $21 billion US dollar debt refinancing package had been reached with the IMF, according to Associated Press..
New global banks' rules could be delayed
Wim Duisenberg, ECB president, said on Wednesday 10 September "It could be that it [Basel II] would come in the course of or maybe toward the end of 2007", according to the Financial Times. His remarks were the first by a central banker admitting that…
Inflation to continue falling: Canada's Dodge
In a speech on Wednesday 10 September, reported by Canada Press, Bank of Canada chief David Dodge said inflation had fallen more than expected and would likely continue the downward trend over the next few months.
Belarus to shift to Russian ruble in October
Belarus has agreed to introduce the Russian ruble in electronic form on October 1, reports The Russian Journal, after Russia agreed to Belarusian President Alexander Lukashenko's demands that prices for gas, electricity and oil should be equal to Russian…
Trichet given green light for ECB presidency
On Thursday 11 September, The European Parliament's economic and monetary affairs committee backed Jean-Claude Trichet as the next president of the European Central Bank (ECB), putting the Bank of France governor a step closer to one of the most…
Greenspan welcomes Ferguson & Bernanke nomination
Statement from Alan Greenspan on President Bush's decision to nominate Roger Ferguson for a second term as Vice Chairman and nominating Ben Bernanke for a full term as a Governor of the Federal Reserve Board, 9 September.
Roger Ferguson honoured by nomination for 2nd term
Roger Ferguson expressed his honour at being nominated to serve another term as Vice Chairman of the Federal Reserve Board, 9 September.
Bernanke pleased to continue at Fed
Ben Bernanke said he was very pleased to have the opportunity to continue to work with Alan Greenspan and his Federal Reserve colleagues, 9 September.
Argentina defaults on $3 Billion IMF debt
Argentina defaulted on its IMF debt on Tuesday 9 September, according to a Reuters report. The Cabinet Chief's office said "To avoid compromising 25 percent of (central bank) reserves, the government has decided to suspend the payment that was due today".
Wellink: EU 'budget sinners' need sanctions
In an interview to be published, Dutch central bank chief Nout Wellink said sanctions could be imposed against countries whose public deficits exceed agreed limits under the Stability and Growth Pact, according to AFP. "Penalties are part of the system…
Swedish PM says euro vote will be tight
Swedish Prime Minister Goeran Persson has said the race will be tight in the euro referendum vote on Sunday, according to Associated Press. "I think it's going to be somewhere in the 53-47 interval. But which way I don't know," he said.