Central Banking
Uniform accounting rules face hurdles in Europe
This article published on Tuesday 13 September says that although the path to uniform and stricter global accounting rules is paved with good intentions, problems have arisen in Europe that could delay the adoption of parts of International Accounting…
Offshoring set to double by 2008
The scale of offshoring in the financial services sector is set to virtually double by 2008, according to PricewaterhouseCoopers latest survey entitled Offshoring in the financial services industry: Risks and rewards, launched on Thursday 15 September.
Mohan on the Indian economy in a global setting
In the speech 'Indian economy in the global setting' given on 8 September Rakesh Mohan of the Reserve Bank of India said India must seize the opportunities offered by forces of globalization to improve the quality of its people's life.
RBNZ Monetary Policy Statement, September 2005
The Reserve Bank of New Zealand published its September 2005 Monetary Policy Statement on 15 September. RBNZ Governor Alan Bollard said since the June Statement, economic indicators have broadly confirmed the slowdown in activity that commenced in the…
The IMF must redefine its role to stay relevant
In a commentary published on Wednesday 14 September International Monetary Fund managing director Rodrigo de Rato said although globalisation has brought enormous benefits in growth and efficiency, cross-border financial crises have heightened the…
IMF Global Financial Stability Report, Sep 2005
The International Monetary Fund published its Global Financial Stability Report for September 2005 on 15 September. The global financial system has strengthened over the past year, according to the report, giving it a substantial cushion against…
Global money transfers international conference
The first major international conference on global money transfers will take place in London at the Institute of Directors on October 17 and 18 attended by financial institutions worldwide.
IMF says ECB rate cut not necessary yet
The European Central Bank is following a "broadly appropriate" monetary policy, and has no reason to cut interest rates at present, the International Monetary Fund's most senior European official said on Tuesday 13 September.
ECB advice sought by Gulf Arab states
A senior official at the GCC said on Thursday 15 September that Gulf Arab states will seek help from the European Central Bank in establishing a monetary authority to oversee their planned single currency.
China not planning more yuan revaluations
A senior official from the People's Bank of China said Thursday 15 September that China will not adjust its exchange rate through another revaluation.
Trichet says new law should not apply to Fazio
European Central Bank president Jean-Claude Trichet said a new law introducing a limited term of office for the head of the Bank of Italy should not be applied to current governor Antonio Fazio.
Estonian central bank chief positive on 2007 euro
According to Estonia's central bank chief Andres Lipstok, the country is on track to reduce inflation in time to join the euro on 1 January 2007, though rising oil prices require vigilance.
Comment: Revisiting the risk landscape
Many central bankers and international financial institutions have as usual started the new season by surveying the changing risk landscape.
If the Fed stops pushing, might bond yields rise?
A recent article looks at the potential effect on the bond market if the Federal Reserve doesn't raise interest rates when it meets next week. The bond market could at last give us some of the higher longer- term interest rates that the Fed has been…
BOT soldiers guard the nation's finances
This article published on Monday 12 September looks at the Bank of Thailand's reserve management team. There's no longer concern about over-reacting if speculators come pounding at the barriers again, as they did in 1996-97, it says.
HKMA Quarterly Bulletin, September 2005
The Hong Kong Monetary Authority published the September 2005 issue of its Quarterly Bulletin on 14 September. This issue of the Quarterly Bulletin contains two feature articles, both of which relate to the capital adequacy level of banks in Hong Kong.
ECB's Trichet on the eurozone economy
In testimony to the European Parliament given on 14 September Jean-Claude Trichet of the European Central Bank said stronger economic growth remains likely in the euro zone for the second half of the year.
Minutes from the Sveriges Riksbank Meeting, 23 Aug
The Sveriges Riksbank published the minutes from its 23 August Executive Board meeting on 12 September. One member considered that with regard to growth prospects for the Swedish economy, on the whole there was reason to make a slight upward revision to…
Bank of Uganda signs foreign reserve software deal
The Bank of Uganda has become the third African central bank to adopt a financial technology solution from Trema, the company announced recently.
Comment: view from London
Today we turn to Andrew Smithers, the market analyst and economist, whose latest Market Update (September 14) provides a stimulating commentary on the markets - and food for thought for central bankers everywhere.
McCreevy says cross border clearing cost must fall
Charlie McCreevy, the European Union internal market commissioner, said on Tuesday 13 September action will be taken against Europe's financial services industry if it fails to slash the costs of cross- border trading in securities within six months.
ECB asks government for information on Fazio
The European Central Bank's governing council has asked Italy's government to provide additional information on Bank of Italy governor Antonio Fazio, Boersen-Zeitung said, citing sources close to the Italian government.
Fukuma sees risk from maintaining reserve target
Katsutoshi Fukuma, a member of the Bank of Japan's policy board, said in a speech he now sees rising risks in maintaining the bank's present 30-35 trln yen liquidity reserve target range, and he reiterated his call for a reduction.
Bank of Italy valued at 1bln euro
The total value of the Bank of Italy's shares is about 1 bln euro, said economy undersecretary Maria Teresa Armosino, but she said the shares are not "marketable".