News
Gunmen attack Iraq central bank governor
The acting governor of the central bank of Iraq Faleh Daud Salman escaped unhurt on Monday after the car he was travelling in was fired on, The Australian reports. Two passengers in the car were wounded however, the report added. But a separate report…
A twenty-first century BIS
73 years on and the world's oldest international financial organisationwith it, the BIS is alive and well. As usual, a swarm of central bankgovernors great and small descended on Basel last weekend to participate inthe BIS annual meetings.
King assumes his throne
The long-awaited moment has arrived: Mervyn King has moved into EddieGeorge's offices on Threadneedle Street, now that he has been baptised asgovernor of the Bank of England.
Dogfighting over the ECB
The European League for Economic Cooperation (ELEC) has issued aresolution betraying unease that appointments to the ECBexecutive board could degenerate into a more or less continuous politicaldogfight.
Stand-off in Bulgaria
The mess in the ECB appointment process also needs to be cleared up to set anexample to other countries as to how these things should be done. Bulgaria might have benefited from this.
A lean machine
The central bank in Ghana is cutting back its staff drastically. Some central banks in the Eurosystem will be jealous.
IMF's Krueger welcomes Iraq's new banknotes
Anne Krueger of the IMF on Monday welcomed plans to introduce a new issue of banknotes in Iraq. She commented that "the availability of an adequate supply of domestic currency, one that is both secure and includes appropriate denominations to facilitate…
Crockett honoured
Andrew Crockett always did have one of those names that look as if it is just waiting to have a "sir" in front of it. Now the space has been duly filled as the former central banker and general manager of the BIS received a knighthood from the Queen of…
Iraq to get central bank - free from interference
Iraq will soon have an independent central bank for the first time, free from political interference the New York Times reports.
Central banker and football fan
Mervyn King, the new governor of the Bank of England is a well-known supporter of Aston Villa, the English football club. In fact, until recently King was senior vice-president of the club.
Bundesbank- German deficit may make ECB job harder
Bundesbank Chief Economist Hermann Remsperger said in an interview a third breach in as many years by Germany "would further damage the credibility of Europe's stability and growth pact, which would ultimately make a stability-oriented monetary policy…
New Iraq banknotes will replace 'Saddam dinar'
The US-led coalition authority in Iraq plans to print and circulate new Iraqi dinars later this year. The new notes will be swapped for both the "Saddam dinar", which circulates in most of the country, and the older, so-called "Swiss dinar", which is…
Greenspan to deliver monetary testimony 15 July
The US House Financial Services Committee has announced Federal Reserve Chairman Alan Greenspan will testify before the committee on 15 July.
Putin signs law to lower dollar sale requirement
Under a new amendment to the law on currency regulation and control in Russia, the amount of mandatory dollar revenue sales has been cut from 50 per cent to 30 per cent.
Bank of Estonia's Ross to take up IMF role
The head of the Bank of Estonia's division for international and public relations Tanel Ross is to become adviser to the director of the Nordic-Baltic Constituency of the International Monetary Fund (IMF) in August.
Union: Trichet to take over ECB presidency, 1 Nov
Bank of France Governor Jean-Claude Trichet will replace Wim Duisenberg at the head of European Central Bank on Nov. 1, Agence France-Presse reported, citing Jean-Marie Roux, a union member at the French central bank.
Mboweni may be ready to serve again, if he's asked
South African Reserve Bank governor Tito Mboweni denied in an interview that he had described himself as a one term governor, saying he would consider the issue of serving a second term at the SARB next year, Bloomberg reported.
Bulgaria c bank-Report warns on political decision
A report published Monday highlights the possibility of a politically motivated choice of the next governor of Bulgaria's national bank as a key risk, Novinite reported. "Bulgaria: Beyond the Facts" warns the decision may put at risk the independence of…
BOJ's Fukui affirms vow to keep rates near to zero
Bank of Japan Governor Toshihiko Fukui has said the BOJ will continue to keep interest rates close to zero until consumer prices become positive, Bloomberg reported. The comment comes after bond yields more than doubled since June 11 as hopes for an…
CBN rules out virtual banks in Nigeria
In its Draft Guidelines on Electronic Banking, the central bank of Nigeria has said that all banks in Nigeria must not only be fully licensed, they must also have a physical presence in Nigeria, adding that "virtual banks or banks that exist only in…
Bundesbank doubts German growth forecasts
Bundesbank official Hans Reckers said in an interview published Sunday that German government growth forecasts of 2% are 'much too optimistic'. He suggested a growth rate of 1% to 1.5% for 2004 would be more realistic, RTE News said.
RBA's McKibbin confident growth will continue
Reserve Bank of Australia board member Warwick McKibbin said in an interview a lot of other countries are looking to Australia for lessons on why we are doing so well. He also suggested that Australia will keep growing at close to 3.7 per cent, Bloomberg…
Riksbank's Bergstrom says rates may ease more
Riksbank board member Willy Bergstrom to ld Reuters Sunday that the Swedish central bank may make further interest rate reductions, despite easing in both June and July.
BSP given full authority to probe bank accounts
The Philippines newly revised Anti-Money Laundering Act returns the central bank's authority to inquire into any bank deposit. The Bangko Sentral ng Pilipinas lost this power a decade ago under the 1993 Central Bank Act.