Central Banking
China yuan move helpful says Fed's Gramlich
US Federal Reserve governor Edward Gramlich has said China's decision to revalue its yuan currency was a positive step that should help reduce global economic imbalances.
BOJ's Fukui says prices may rise from late 2005
Bank of Japan governor Toshihiko Fukui told a news conference on Wednesday 27 July that the consumer price index may rise from late this year or early 2006 as the BOJ kept monetary policy unchanged.
China should be allowed to join says OECD chief
Donald Johnston, secretary general of the Organization for Economic Cooperation and Development ( OECD), said in an interview on Tuesday 26 July that China should be admitted as a member of the organisation.
Malaysia will rely on central bank over ringgit
Malaysia has revealed that it will rely on central bank intervention rather than a currency trading band to maintain the stability of its managed float of the ringgit.
National Bank of Hungary - Annual Report 2004
The National Bank of Hungary has published its Annual Report for the year ended 2004. Hungary's accession to the European Union opened up new possibilities which can benefit the country in its efforts to catch up with the more developed European…
Singapore's Mun on building human capital
In the speech 'Building human capital for the new world and beyond' given on 13 July, Low Kwok Mun of the Monetary Authority of Singapore said the relatively good overall performance of the insurance industry in 2004 could be partly attributed to the…
SARB's Plenderleith on the Annual Report
In a speech given on 25 July Ian Plenderleith of the SARB said it remains a focus for the Bank to ensure public confidence in the South African currency. Hence a new bi-metal R5 coin was introduced in August 2004 in response to the counterfeiting threat…
MAS's Aziz on expanding ASEAN-EU economic links
In the speech 'Expanding ASEAN-EU economic links - the role of the euro' given on 14 July, Zeti Akhtar Aziz of the Central Bank of Malaysia said both the EU and ASEAN through the rebalancing of global growth have the potential to contribute towards…
Statement by People's Bank of China on yuan
The People's Bank of China issued a statement on Tuesday 26 July which played down market speculation of further rises of the yuan after last week's 2.1-percent yuan revaluation.
IMF's Rato saddened at Sharm el-Sheik bombings
International Monetary Fund Managing Director Rodrigo de Rato issued a statement on Monday 25 July in reaction to the 23 July bombings in Sharm el-Sheik, Egypt.
Central banks of Kosovo and Albania sign MoU
The Banking and Payments Authority of Kosovo (BPK) and the Central Bank of Albania have signed a Memorandum of Understanding on bank supervision.
Zimbabwe, China sign economic cooperation deal
Zimbabwean President Robert Mugabe and Chinese leader Hu Jintao signed an agreement on economic cooperation on Tuesday 26 July.
RBI sees consequences from China rate move
The Reserve Bank of India said on Tuesday 26 July that the shift in exchange rate policy announced by China was likely to have important consequences for the global economy.
PBOC denies reports on currency
The People's Bank of China warned on Tuesday 26 July that it has no plans to allow sharp increases in the yuan's value, saying a 2 per cent increase last week was part of an exchange-rate reform and not an initial step to more increases.
ECB paper on rules for a currency union
The ECB Working Paper "Fiscal and monetary rules for a currency union" published on Thursday 21 July addresses the question of the joint conduct of fiscal and monetary policy in a currency union.
Chicago Fed National Activity Index, June 2005
The Chicago Fed National Activity Index for June 2005 was +0.28 in June, up from -0.03 in May. Three of the four broad categories of indicators that make up the index - production and income, consumption and housing, and sales, orders, and inventories -…
Atlanta Fed's Barron on U.S. and global payments
In the speech 'Responding to change in U.S. and global payments' given on 19 July Patrick Barron of the Federal Reserve Bank of Atlanta said a large segment of the U.S. population loves to use checks and they will no doubt remain an important element in…
Deutsche Bundesbank - Annual Report 2004
The Deutsche Bundesbank has published its Annual Report for the year ended 2004. For the German economy, 2004 was a year of rather mixed fortunes, according to the report.
Israel's Fischer on economic stabilisation program
In a speech on 'The economic stabilisation program and its effect on the Israeli economy today' given on 30 June, Stanley Fischer of the Bank of Israel said the new law that we in the Bank of Israel propose clearly defines the independence required for a…
Reports claim China told US of yuan plan
News reports on Monday 25 July said that US officials were informed by the Chinese government in advance of its decision to drop its currency's link to the dollar last week and raise its exchange rate.
ECB's Paramo says Q2 growth likely below Q1
European Central Bank Executive Board Member Jose Manuel Gonzalez-Paramo said in an interview published on Monday 25 July that the eurozone economy probably grew slightly less in the second quarter of this year than in the first, but longer term it…
PBOC chief says yuan move an 'initial' step
The governor of China's central bank speaking on Saturday 23 July, described last week's revaluation of the yuan as an initial step whose benefits outweighed the disadvantages.
China cb adviser says revaluation buys time
Yu Yongding, a member of China's central bank monetary policy committee said in remarks published Monday 25 July that last week's 2.1 percent revaluation of the yuan and an accompanying shift to a managed float buy time for China.
SARB's Mboweni on the South African economy
In a speech given on 18 July, Tito Mboweni of the South African Reserve Bank said the path of the rand, although volatile during some periods, has remained relatively stable over the past couple of months.