News
Researcher says China should diversify reserves
A China-based researcher said in an interview published in the overseas edition of the People's Daily on Monday 30 October that China urgently needs to improve the management of its foreign exchange reserves by diversifying the holding to include natural…
Nov rate hike is 'not a done deal' says BoE's King
Mervyn King, the Bank of England's governor, told the House of Lords on Tuesday 31 October that speculation of another interest rate hike in November is not a "done deal".
Interview with Bank of Lebanon's Riad Salame
In an interview published Monday 30 October on the mmorning.com website, Bank of Lebanon governor Riad Salame talks about the challenges he has faced during the 13 years of his mandate.
UAE considers reserves options
The UAE's central bank might cut its dollar holdings by anything up to 50% and is looking at the yen, euro and sterling as alternatives, the central bank governor said. It was also announced that Bahrain and the UAE would compete to host the GCC central…
Thai central bank intervenes again on baht
Bank of Thailand (BOT) has again intervened in the foreign exchange market to slow the baht's sharp rise against the dollar, the bank's governor Tarisa Watanagase said Monday 30 October.
BoE's King walks into political storm
Mervyn King, the governor of the Bank of England, was at the centre of a political row Monday 30 October after a speech in chancellor Gordon Brown's constituency in which he lauded Scotland's success and prosperity under the Union.
New UK £20 'has raft of anti-fraud measures'
The Bank of England unveiled a new £20 banknote featuring the image of economist Adam Smith on Monday 30 October with a raft of improved anti-counterfeiting measures.
Fed's Stern praises inflation targets
Minneapolis Federal Reserve President Gary Stern on Friday 30 October reiterated his support for the introduction of formal inflation targets by the Fed.
ECB's Stark concerned over govts' fiscal targets
European Central Bank board member Juergen Stark said in a speech on Thursday 26 October that the ECB is worried that some eurozone countries will miss their fiscal targets this year.
Greenspan notes increasing role of the euro
Former Federal Reserve chairman Alan Greenspan said in a speech on Thursday 26 October that both private investors and central banks were moving away from the U.S. dollar in favour of the euro.
Brazil's COPOM committee says inflation 'benign'
Brazil's central bank said in minutes from its last COPOM meeting released Thursday 26 October that inflation remains under control, paving the way for more interest rate reductions.
Nigeria's Soludo 'pressured' on foreign reserves
The governor of the Central Bank of Nigeria, Prof. Charles Soludo, has said he is under pressure from politicians to use the central bank's foreign reserves.
NBP candidate favours privatisation
In an interview for Forbes, candidate for the presidency of the National Bank of Poland (NBP) Urszula Grzelonska discussed a number of issues crucial to the Polish economy.
Czechs drop plan to adopt euro in 2010
The Czech government has dropped plans to adopt the euro in 2010, noting an outlook for widening budget deficits and rising inflation.
Afghanistan's Delawari notes success on inflation
In an interview with Afghan state-run newspaper Anis, published Thursday 26 October, the acting president of Afghanistan's central bank said the central bank has been successful in keeping the value of afghani stable against foreign currencies and in…
PBOC's Tang sees strong pressure on yuan
'In the process of foreign exchange regime reform, the local currency still faces strong appreciation pressure,' said Tang Xu, director of the research department within the People's Bank of China, in an English-language paper prepared for a conference.
Poland rejects criticism of new regulator
Criticism from the European Union that Poland's new financial regulator might fall victim to political meddling has been rejected, a Finance Ministry spokeswoman said on Wednesday 25 October.
RBNZ holds rates unchanged, Sweden hikes
The Reserve Bank of New Zealand left its official cash rate unchanged at 7.25 pct on Thursday 26 October reflecting slowing economic growth. Swedish interest rates were raised in a widely expected move.
Kenya launches automated trading systems of NSE
President Mwai Kibaki of Kenya has said the automation of the trading system will create more confidence in the country's capital markets and enable the government and the private sector to access long-term financial resources.
France's Breton hopes for ECB rate pause
French finance minister Thierry Breton said in an interview published Wednesday 25 October he hopes for a halt to interest rate hikes by the European Central Bank next year.
Ex-PBoC advisor calls for more yuan flexibility
Yu Yongding, a former People's Bank of China adviser said in a speech to investors at a Credit Suisse investment conference on Wednesday 25 October China should introduce more flexibility in the yuan exchange rate to help reduce imbalances in the economy.
Buba's Weber warns inflation fall is temporary
Bundesbank President Axel Weber said the current decline in inflation rate is temporary and does not necessarily signal a long-term easing of inflationary risks, according to an interview with Tagesspiegel newspaper published Wednesday 25 October.
McCreevy warns over curbing NBP's powers
Charlie McCreevy, the European Union internal market commissioner, has warned the Polish government in a letter quoted by the Finanical Times on Wednesday 25 October that recent moves to curb the powers of the central bank may "put at risk the stability…
Fiscal indiscipline eroding Swaziland's reserves
A recent report suggests that fiscal indiscipline by the government has eroded Swaziland's foreign reserves in the past years.