News
Czech deputy counters interference claims
Miroslav Singer, a vice-governor at the Czech National Bank (CNB), has rebuffed claims that the Vaclav Klaus, the country's president, is compromising the institution's independence.
Sovereign wealth fund round-up
The creation of a much-mooted code of conduct for sovereign wealth funds edged closer this week after the European Commission submitted its ideas to the region's finance ministers for review in mid-March.
EU should be "driving force" in SWF regulation
The EU should be at the forefront of the effort to supervise sovereign wealth fund investments, the European Commission has said.
UAE governor rejects Greenspan advice
The United Arab Emirates will keep the dirham pegged to the dollar despite calls from former Fed chairman Alan Greenspan to float its currency.
Political scrap over governor may embarrass Japan
A spat between Japan's two main political parties is threatening to undermine the central bank's credibility by leaving it without an official governor when Toshihiko Fukui's term expires in the middle of next month.
Fed exacerbating stagflation risk: Meltzer
The Federal Reserve's current policies mark a return to the dark days of the 1970s and carry the same threats, says Allan Meltzer, a professor at Carnegie Mellon University.
SWFs to cover bank shortfall for private equity?
Not content with buying up sizable stakes in the big investment banks, sovereign wealth funds could now take their business as well.
Norway posts $3.4 billion loss
The Bank of Norway was NKr17.6 billion ($3.4 billion) in the red last year, accounts published on Thursday 28 February reveal.
Zhou set to stay at People's Bank?
Zhou Xiaochuan, the governor of the People's Bank of China, could remain governor of the central bank according to local media reports.
Bernanke changes tack, cautions on inflation
Ben Bernanke, the chairman of the Federal Reserve, has said that the inflation picture in the US has worsened since the Federal Open Market Committee (FOMC) last met.
Markets underestimate ECB's inflation fears
Bets on interest rate decisions fail to take into account the seriousness of the inflation situation in the eurozone, said Axel Weber, the president of the Bundesbank who also sits on the European Central Bank's (ECB) governing council.
Poland raises rates to 5.5% in surprise move
The National Bank of Poland has voted to raise rates unexpectedly by a quarter point.
Further Fed cuts likely on Kohn comments
Donald Kohn, the vice chairman of the Federal Reserve, has hinted that more rate cuts are needed in order to insure against an economic calamity.
Hungary abandons euro peg
The Hungarian authorities have abandoned the forint's peg to the euro and moved to a floating exchange rate in a bid to lower inflation and speed up euro-accession.
US Treasury supports IMF gold sales, urges reform
The US Treasury has shifted its stance on International Monetary Fund (IMF) gold, saying it will now back the sale of about 8% of the Fund's reserves.
Ex-minister questions Czech independence
Jan Mladek, a Czech member of parliament and former government minister, has claimed that Vaclav Klaus, the president of the Czech Republic, is abusing his power to appoint senior members of the Czech National Bank's staff.
Qatar SWF to invest up to $15 billion in banks
The Qatar Investment Authority will spend between $10 billion and $15 billion buying up stakes in banks, the head of the sovereign wealth fund has revealed.
UK lawmaker laments lack of chief regulator
John McFall, chairman of the Treasury Select Committee which published its comprehensive report on the Northern Rock crisis at the end of February, reiterated his suggestion that the lack of a central figure in charge of Britain's tripartite regulatory…
Hanke attacks Fed at IEA seminar
Professor Steve Hanke of Johns Hopkins University rebuked the Federal Reserve for its conduct of monetary policy at a conference on Tuesday 26 February on "The State of the Economy" hosted by the Institute of Economic Affairs in London.
EU to devise SWF code
The European Commission is to propose a voluntary code of conduct for sovereign wealth funds in a bid to ease fears that their investments could compromise national security interests.
US mulling sanctions for Iranian central bank
The US Treasury Department could impose sanctions on the Central Bank of Iran after allegations emerged that the institution is helping the country's banks avoid American sanctions.
London calling for Czech governor Tuma?
The Czech government has nominated Zdenek Tuma, the governor of the Czech National Bank, to become the next president of the London-based European Bank for Reconstruction and Development (EBRD).
Prices force China to stick with policy stance
A top Chinese central banker confirmed that the People's Bank's monetary policy stance will remain tight after inflation hit a fresh 11-year high.
Fed's Fisher warns on inflation expectations
Richard Fisher, the president of the Dallas Federal Reserve, has said that the Fed must be careful to avoid "stirring the embers of inflation".