News
Fed's McDonough to head new SEC accountancy board
US regulator the Securities and Exchange Commission has voted unanimously to appoint Federal Reserve Bank of New York president William McDonough as chairman of the accounting oversight board, according to a report by Associated Press.
LDP's Yamasaki says expects more steps from BOJ
A senior Japanese politician said on Wednesday 16 April he had confidence that the Bank of Japan would adopt new measures to boost Japan's ailing economy, Reuters reports.
Chilean Senate approves new Central Bank director
Chile's senate has approved the appointment of Vittorio Corbo to the board of directors of the Central Bank of Chile, according to a Reuters report. President Ricardo Lagos is widely expected to name him as the new central bank chief shortly.
Mexico's central bank net reserves, assets rise
The Bank of Mexico's reserves have risen just over $0.15 billion since the start of April, the bank said on Tuesday 15 April, according to Reuters.
Argentine peso dips amid monetary expansion talk
The Argentine peso has suffered amid slack demand for the U.S. currency as local investors have taken advantage of high interest rates of up to 25 percent offered on deposits, according to a report from Reuters.
Union reps at Bank of France call for demo
French unions are calling for Bank of France staff to demonstrate against the restructuring of the Bank's network of regional branches Le Figaro said.
Venezuela central bank cuts rate to 36 pct
Venezuela's central bank cut interest rates to 36 percent as tight currency controls and price curbs to shore up international reserves continue.
Citigroup's Fischer mum on New York Fed post
After speculation that former IMF official and Citigroup Vice Chairman Stanley Fischer may be set to take over at the New York Fed, Monday brought silence from Fischer, Reuters reported.
UK Treasury suggest positive Bank inflation report
The Treasury appeared to suggest on Monday that the Bank of England's inflation report, due early next month, could narrow the gap between the Treasury's inflation forecast and the Bank's, the FT reported.
Central Bank of Barbados starts 2 day conference
The central bank of Barbados is holding a conference on corporate governance in the financial sector, the Jamaica Observer reported. The Bank said the conference was prompted by the "recent international corporate upheavals".
Brazil central bank head unfazed by currency gains
Henrique Meirelles, head of the Banco Do Brasil, has said the recent rise in the reals value would not hurt trade and that it was only a short time ago that people were worried about a collapse in the exchange rate, Reuters reported.
Bank of Canada raises interest rates
Bank of Canada raises overnight rate target by 1/4 percentage pointto 3 1/4 per cent, 15 April.
China cuts red tape for gold industry
China's central bank will no longer have to approve gold manufacturing, processing and trading in the country Eastday reported.
Polish central bank complains about gov't pressure
A report from PAP news agency quotes Poland's central bank chief as describing government pressure to cut interest rates as 'unprecedented'.
Gordon Brown on current challenges to the IMF
Statement by Rt Hon Gordon Brown, United Kingdom International Monetary and Financial Committee, Washington D.C., 12 April 2003.
Stanley Fischer favourite to head NY Fed?
Sources close to the Fed say former IMF official Stanley Fischer could be favourite to replace William McDonough at the Federal Reserve Bank of New York, according to a Reuters report.
Canada's Dodge urges G7 to boost economies
David Dodge of the Bank of Canada said rich countries should work to boost their economies to prevent further set backs for the world. The National Post reported his statement at the Washington meeting of the Group of Seven finance ministers and central…
Indian gov't considering fourth RBI dep governor
A fourth deputy governor's position could be created at the Reserve Bank of India. According to Business Standard, a senior finance ministry official said the position would carry the responsibility of regulating co-operative banks.
Duisenberg dashes hopes of ECB rate cut
Wim Duisenberg has said more is needed to rebuild consumer and business confidence than another rate cut, according to Business & Finance. He also said there was no serious danger of deflation in either Germany or the eurozone.
Bank of Japan head pledges to fight deflation
Toshihiko Fukui said at the weekend the central bank is ready to act on deflation, Bloomberg reports. He also said that he sensed most participants of the G7 meeting showed strong interest as to what policy stance he will be taking as governor of the BOJ.
Bank of England's George on world economy
Bank of England governor Edward George told reporters at the end of the G7 meeting that the recent fall in oil prices shows uncertainty is being lifted as the war draws to an end, according to a report by Reuters.
Chilean scandal prompts resignation of regulator
The head of Chile's financial regulator has resigned, according to the Wall Street Journal, following the scandal involving the leakage of information from the computer of the Central Bank President.
Bank of France plans to sell off property
The French central bank plans to sell approximately a fifth of its rented property assets over the next year, reports Le Figaro
Minutes of Japan's Monetary Policy Meeting
Minutes of the Bank of Japan's Monetary Policy Meeting on 4 and 5 March 2003 were released on 11 April. A member of the Policy Board said that the central bank could adopt operations that influenced asset prices as a way of boosting the economy.