News
SWF round-up
The march of sovereign wealth funds on Western financial institutions continued this week with the announcement the Qatar Investment Authority (QIA) will buy a stake in Credit Suisse, a Swiss bank.
New Czech vice governor appointed
Mojmir Hampl, a board member of the Czech National Bank, has been named as vice-governor of the central bank.
New role for SARB in monitoring capital flows
A further relaxation in South Africa's exchange controls, announced this week, will change the South African Reserve Bank's role in overseeing capital flows.
Muto: a governor-in-waiting?
Japan's ruling Liberal Democratic Party is expected to nominate Toshiro Muto as the next governor of the Bank of Japan. But opposition leaders continue to resist his nomination.
Number of euro counterfeits rise
The number of counterfeited euro banknotes in the second half of 2007 shows an increase when compared to the two preceding half-year periods.
Stagflation problem for the Fed?
The Federal Reserve faces a problem that the United States has not seen for many years: stagflation.
Singapore minister slams SWF "backlash"
Goh Chok Tong, a senior Singapore minister and chairman of the country's central bank, said that arguments against sovereign wealth funds (SWFs) are driven a by "nationalistic backlash".
Colombian central bank enters market again
In efforts to reduce fluctuations in the value of the peso, Colombia's central bank has sold dollar put options for the second time this year.
Philippines looks to end special vehicles
The central bank in the Philippines is seeking to draw a line under special purpose investment vehicles that are a legacy of the Asian financial crisis that erupted more than a decade ago.
Zimbabwe officially enters hyperinflation
The latest inflation numbers in Zimbabwe confirm that the country has entered into hyperinflation.
Turkish governor defends policy framework
Turkey's central bank should keep its policy framework although inflation targets have been missed two years in a row, said Durmus Yilmaz, the governor.
Coin misuse trouble Bank of Korea
Korean ten-won coins have recently found favour as decorative pendants - a development that has the Bank of Korea worried.
Laurels for ECB from Germany's Merkel
The German chancellor, Angela Merkel, has praised the European Central Bank's (ECB) "very outstanding role" in dealing with the world financial crisis.
Indonesian governor questioned
Burhanuddin Abdullah, the governor of Bank Indonesia has been questioned over an alleged corruption case which the country's powerful Corruption Eradication Commission believes involves the central bank.
Garganas highlights credit market uncertainty
Nicholas Garganas, the governor of the Bank of Greece, acknowledged that the economic impact of credit market developments may be larger than expected.
Jordan's government "needs to rein in spending"
Faris Sharaf, the deputy governor of Jordan's central bank, has called on the country's government to rein in spending to reduce inflationary pressure and narrow the current-account deficit.
Australia considered bigger rise
Minutes from the February board meeting of the Reserve Bank of Australia show that the central bank considered raising its cash target by a bigger margin than the quarter percentage point rise announced on 5 February.
Carney point finger at China in first speech
Mark Carney, in his first speech as governor of the Bank of Canada, said that China is partly responsible for the subprime disaster that has dragged North America into a slump and disturbed financial markets around the world.
EU rules may scupper Northern Rock plan
A European Commission official said that if the British government continues to provide support for Northern Rock beyond 17 March, which under the plans for the nationalisation of the bank announced this week seems inevitable, it will have to prove that…
Australia to screen sovereign wealth funds
Australia has issued a set of screening criteria to be used by the country's regulators in determining whether to allow investment made by sovereign wealth funds.
China's inflation rises steeply
China's inflation rose at the quickest rate for over 11 years after the worst blizzard in half a century disrupted the country's food supplies, paralysing transport and destroying crops.
Northern Rock to be nationalised
Alistair Darling, the British chancellor of the exchequer, has announced that Northern Rock will be put into public ownership - the first nationalisation of a sizeable British bank for 25 years.
Reserve managers look to derivatives
A survey by Central Banking Publications, sponsored by the Royal Bank of Scotland, has found that central bank reserve managers are still searching for yield after the recent credit turmoil, and that over half of those surveyed see derivatives as an…
Poland targets ERM-2 by 2011
Marian Noga, a member of the ten-strong council of the Polish central bank, said on Monday that Poland should join the ERM-2 exchange rate mechanism in 2011.