News
John Footman in key Bank role
The new Bank of England governor, Mervyn King, has set about selecting his top team and slotting people into jobs.
RBNZ Deputy Governor Adrian Orr appointed
The Reserve Bank of New Zealand announced on Tuesday 22 July that Adrian Orr has been appointed the Bank's Deputy Governor and Deputy Chief Executive.
Brazil's Congress to quiz former c bank president
Brazil's Congress was due to question former president of the central bank of Brazil, Gustavo Franco, on Tuesday as part of a congressional inquiry into illegal money transfers, according to a report by BN Americas.
Barbados - CSME is important 'launching pad'
The governor of the central bank of Barbados, Marion Williams, has said the Caribbean must use the Caricom Single Market and Economy as a "launching pad" for international negotiations with the Free Trade Area of the Americas (FTAA) and World Trade…
Hans Tietmeyer joins Lazard as a Senior Advisor
Hans Tietmeyer, who was president of the Bundesbank for six years, has been appointed a Senior Analyst with Lazard, reports PR Newswire. The Chairman of Lazard Germany said he was delighted Prof. Tietmeyer has joined the company.
Trichet plays down deflation fears
Bank of France Governor Jean-Claude Trichet, currently on a visit to Poland, said Tuesday "to talk of a danger of deflation, for the time being unreal, is against Europe's interests" an AFP report said.
Cash riots feared as Zimbabwe runs out of banknote
Business leaders have warned of cash riots in Zimbabwe if the continued banknote shortage pushes black market prices up any higher, the Cape Times said. Finance Minister Herbert Murerwa announced the introduction of a Z$1 000 note, just days after…
BOJ's Fukui says Japan export outlook is improving
Speaking at the Bank of Japan's quarterly branch managers' meeting in Tokyo, Toshihiko Fukui said that although the economy remains "flat" and the financial system remains in a "severe state" the outlook for exports is improving somewhat, a report from…
Cuban central bank rules against US dollar transac
Cuba's central bank has said that state companies will no longer be allowed to undertake transactions in US dollars, VOA News said.
Bundesbank sees no signs of economic rebound
The Bundesbank published its July monthly report on Monday saying there was no immediate improvement in sight in the near future and that output is unlikely to break out of its current trend of stagnation, AFP reported.
Basel Committee welcomes FATF recommendations
Basel Committee press release on the Financial Action Task Force's recommendations concerning customer due diligence, 17 July. The Committtee welcomed the FATF's revised recommendations to combat money laundering.
Snow lauds Trichet as superb choice for ECB chief
US Treasury Secretary John Snow met with Bank of France president, and ECB chief in waiting, Jean-Claude Trichet on Friday, according to a report by Agence France Presse. While not commenting on ECB monetary policy, Snow told a news conference that…
Serbian central bank loses Dinkic and two deputies
Mladjan Dinkic resigned as governor of the Serbian central bank on Friday 18 July, according to the Financial Times, with two of the Bank's three deputy governors also quitting. The resignations come after legislation was passed which Dinkic said…
YV Reddy appointed RBI Governor for five-year term
Official confirmation came on Friday 18 July that Dr Y. Venugopal Reddy will take over as governor of the Reserve Bank of India for a five-year term. Business Line reports that the present governor, Dr Bimal Jalan, is expected to move into politics.
Commission divided on relaxing pact rules: Solbes
Pedro Solbes said on Friday 18 July that fiscal deficit limits should remain a "key element" of the stability and growth pact but conceded there were different opinions with the European Commission, Reuters reports.
Managing recovery on agenda at BoT seminar
The Bank of Thailand will hold its annual economic seminar on 20-21 August, the Bangkok Post reports. Assistant governor for the Monetary Policy Group Bandid Nijathaworn said the central bank expected the seminar to draw 500 people.
ECB's Welteke sees no reason to cut rates
In a television interview European Central Bank council member Ernst Welteke said "I see no need to act at the moment" on interest rates, theoretically we have room for manoeuvre", according to Bloomberg. He also said "there are a few signs of…
Korean deal on monetary board seats criticised
Two organisations that control two seats of the Bank of Korea's seven-member monetary-policy board, have criticized recent moves by the Ministry of Finance and Economy and the BOK to take over their rights to appoint board members, according to the Korea…
Bank of England to withdraw Dickens £10 note
The Bank of England intends to withdraw the £10 note featuring Charles Dickens at the end of July. The new style £10 note with a portrait of Charles Darwin will remain in circulation.
Bank of England's Court appoints John Footman
The Bank of England has announced the appointment of John Footman as an Executive Director to its Court of Directors, 17 July. John Footman (50) joined the Bank in 1969 and has worked across most of the Bank's main functions.
Bank of Japan's Monetary Policy Meeting Minutes
Minutes of the Bank of Japan's Monetary Policy Meeting on 10 and 11 June 2003, released 18 July. One member said that, with still no prospect of overcoming deflation, the Bank should make a credible public commitment to realise an increase in the money…
Papademos - ECB may have leeway for rate cuts
ECB Vice President Lucas Papademos told Corriere della Sera newspaper in an interview Friday that the economic situation had changed little since the ECB last cut its key interest rate in June and that "we might have room for manoeuvre in the future" if…
BOJ's Fukui says stock gains outweigh bond losses
Toshihiko Fukui said the Bank of Japan has no plan to "step in" and manipulate bond yields. Speaking at a monthly press conference he said Japanese banks probably earn more from stock market gains than they lose from lower bond prices, Bloomberg reported.
Polish central bank may lend State $3-4bn
A member of the national bank of Poland's (NBP) interest rate setting RPP said the NBP may lend the government upto $3-4bn. Dariusz Rosati said the loan would go part of the way to meeting persistent demands by the government that the Bank should support…