Central Banking
Russian fund rakes in $3.4 billion
The Russian Stabilisation Fund, which manages part of the foreign-currency proceeds from the country's oil exports, earned more than R85 billion ($3.4 billion) in the year to 1 July.
China's first payment system development report
The People's Bank of China issued the first report on developments in the country's payment systems on Tuesday. The report reveals the progress, relevant data and the future policy orientation of the payment systems in the country.
Central Bank of Aruba - annual report 2006
Aruba's economy grew at the same rate as 2005 last year, the governor notes in his foreword to the annual report, and inflation accelerated.
Happy birthday Buba!
Germany's central bank celebrates its 50th birthday today, with a commemorative €10 coin to be issued next week and a series of events is planned.
Kroszner on Fed's supervision initiatives
In this speech, Randall Kroszner, a governor of the Federal Reserve Board, discusses the American central bank's current work to strengthen our support of minority-owned depository institutions and several ongoing supervisory and regulatory initiatives…
Unexpected tightening in Pakistan
Pakistan's central bank has unexpectedly raised its benchmark interest rate to its highest level in more than five years after inflation exceeded its target.
De Rato warns against private equity buy-outs
Rodrigo de Rato, the managing director of the International Monetary Fund, has warned against the dangers posed to global investment and growth prospects from the sharp rise in private equity buy-outs.
Indian cash reserve ratio increase
The Reserve Bank of India, the country's central bank, today left its key interest rates - the repurchase rate and the reverse repurchase rate - unchanged at 7.75% and 6% respectively, but increased the cash reserve ratio.
Zimbabwe issues new $200,000 note
The Reserve Bank of Zimbabwe has introduced the latest in a series of temporary banknotes which are intended to relieve a critical shortage of notes in the inflation-ravaged country.
Slovakian rates on hold
The board of Narodna Banka Slovenska, the central bank of Slovakia, decided keep current interest rates on hold after a meeting of the monetary policy committee.
IMF on euro area policies
A report by the International Monetary Fund on euro area policies, released on 31 July, said that the outlook for the region was the best in years, but stabilising inflation below 2% may imply further gradual tightening of monetary policy.
Philippines: e-rediscouting system
In a speech made on the launch of an electronic rediscounting system, Amando Tetangco Jr, governor of the central bank of the Philippines, said that the system would expand access to credit of countryside areas in the Mindanao region.
ECB on downward wage rigidity
A study published by the European Central Bank (ECB) on 31 July, has found that the number of industries affected by downward nominal wage rigidity in OECD countries increased between the 1970s and 1990s.
Geithner: challenges of global integration
Timothy F. Geithner, president of the Federal Reserve Bank of New York, said that there is growing concern in the US about long-term challenges facing the country, such as the perceived shift in the locus of economic growth away from the US toward Asia.
Italy: annual report 2006
The Italian economy grew at around 1.8% (deflators) in 2006, supported by strong world demand and a cyclical upturn in the euro area.
IMF's Rato on capital flows
In a speech given on 28 July Rodrigo de Rato, managing director of the International Monetary Fund, said that imposing direct limits or controls on capital inflows sets central banks and private financial institutions against each other.
China lifts reserve requirement ratio
The People's Bank of China, the country's central bank, raised the amount that lenders are required to hold in reserve for the ninth time in 13 months.
Kuwait lets dinar fall again
Kuwait allowed the dinar to depreciate against the dollar for the second straight working day on Sunday July 29, this time by 0.05%.
Colombia raises rates
Colombia's central bank raised the overnight interbank rate by a quarter of a percentage point to 9.25%, the highest level since 2001.
Turkish central bank urges spending reduction
The governor of Turkey's central bank, Durmus Yilmaz, said that the bank had found "gaps" in the country's budget forecasts during the recent election campaign, and urged the government to cut its spending.
New president of Chicago Fed
The Federal Reserve Bank of Chicago today announced that Charles L. Evans will become the bank's ninth president and CEO as of September.
Interview with governor of Iraqi central bank
Asharq Al-Awsat, a leading Arab English-language newspaper, has published a far-reaching interview with Dr Sinan Al-Shabibi, the governor of Iraq's central bank. Some of the main points are summarised below.
Fed's latest Beige Book
The latest Beige Book of the American Federal Reserve suggests that, on balance, the world's largest economy continues to expand on a balanced path. The report gave very little clues as to the extent and timing of future interest changes.
Al-Sayari on Saudi banking industry
In this speech, Hamad Saud Al-Sayari, the governor of Saudi Arabian Monetary Agency, says the central bank is currently directing the kingdom's banks towards the adoption of Basel II standard by 1st January 2008.