News
Russian inflation at 5.7% in first half of year
Sergei Ignatyev, the chairman of the Central Bank of Russia, said on 4 July that inflation in the consumer price index (CPI) amounted to 5.7% in the period January-June this year. Ignatyev's comments came during a testimony before parliament.
Dubai watchdog issues hedge fund code
The Dubai Financial Services Authority (DFSA) has published a draft Hedge Fund Code for public comment. A consultation paper and a copy of the draft code were made available on the DFSA's website on 4 July.
Unexpected June price rises in Chile
Consumer prices in Chile rose 0.9% in June, representing their biggest monthly rise since September 2005. Food and housing costs were largely responsible for the shock.
No challenge to European at IMF - Paulson
The American Secretary of the Treasury, Henry Paulson, says the United States will not challenge the long-standing tradition of allowing European countires to select the new managing director of the International Monetary Fund.
PBoC continues moderate tightening
The People's Bank of China, the country's central bank, has re-affirmed its decision to tighten monetary policy "moderately" in order to control the growth of lending and investment and prevent the economy overheating.
Mauritius raises rates to 9.25%
The Bank of Mauritius, the country's central bank, announced on 30 June that it had raised its key repo rate by 75 basis points to 9.25% with effect from 2 July. The decision came after the third meeting of the central bank's Monetary Policy Committee …
Bank of Thailand urged to cede supervisory role
Chodechai Suwanaporn, a director of Thailand's Fiscal Policy Office, told a conference at Thammasat University on 3 July that the roles of bank supervision and reserve management should be separated from the Bank of Thailand.
New acting governor for Nepalese central bank
The government of Nepal has appointed Krishna Bahadur Manandar as the acting governor of Nepal Rastra Bank, the country's central bank. The temporary appointment comes after the suspension of governor Bijayanath Bhattarai.
Keeping rates low in Japan "could hurt growth"
Two members of the board of the Bank of Japan have dropped strong hints that the central bank is very much in tightening mode, suggesting that a continuation of low interest will hurt the economy.
Another rate hike in prospect in Poland
The Polish finance ministry has forecast that inflation in June will top the central bank's 2.5% target for the first time in over two years, making a rate rise more likely to ease growing price pressures in the fast-growing economy.
Business sentiment remains upbeat in Japan
The latest edition of the Bank of Japan's widely-followed Tankan business sentiment poll, published on 2 July, shows that businesses remain upbeat about the country's economic prospects.
Olmert ends Bank of Israel's wage dispute
Ehud Olmert, the prime minister of Israel, managed to push through a new wage agreement for the Bank of Israel before relinquishing the finance ministry role he has held in a temporary capacity.
Nepal's central bank governor "suspended"
Bijay Nath Bhattarai, the governor and chairman of Nepal Rastra Bank, the central bank of Nepal, is reported to have been suspended from these positions.
Korea's CPI rises 2.5% in a year
South Korea's consumer price index (CPI) rose to within the central bank's inflation target in June, according to preliminary figures from the country's National Statistical Office.
NZ lawmakers to review monetary policy framework
Lawmakers in New Zealand are set to consider new measures to widen the focus on monetary policy and provide the central bank with more policymaking tools.
PBoC upgrades growth and inflation forecast
The research bureau of the People's Bank of China says the country's economy is expected to grow 10.8% this year, the fastest rate in over ten years.
Shift to e-payments leads to Fed job cuts
The US Federal Reserve reductions in cheque processing is likely to result in more than 210 jobs being cut at the Minneapolis Fed, as consumers shift from paper checks to electronic payments.
Surprise as de Rato resigns from IMF
Rodrigo de Rato, the managing director of the International Monetary Fund, has announced that he would leave the Fund after its next meetings in October. This will be three years after his appointment and before the end of the normal five-year term.
Minister hints at Japanese wealth fund
Japan's Financial Services Minister said on 29 June that the country should debate whether to set up a fund to manage its foreign currency reserves.
Eurozone business confidence remains high
Recovery in the eurozone remains on track and economic confidence dipped only slightly this month, according to the European Commission. Inflation remained steady at 1.9% in June, within the ECB's target range, according to a separate estimate by…
Thailand governor cool on currency risks
Bank of Thailand governor Tarisa Watanagase says she dioes not expect another currency crisis like the one which hit the country ten years ago.
Chinense membership of FATF
The Financial Action Task Force has given approval for China to be a full member of the Financial Action Task Force on Money Laundering This is expected to assist the efforts of its banks to expand overseas.
Fed keeps rates at 5.25% for 12th month
The Federal Reserve held interest rates steady 28 June, citing "modest" improvements in recent inflation readings. Fed rates have now remained at 5.25% for 12 months.
Unexpected rate hike in Poland
Poland's central bank surprised market with a second rate hike for this year on 28 June, citing concerns that wage growth will force companies to boost prices.