Central Banking
Riksbank seeing weaker than expected economy
A deputy governor of Sweden's Riksbank, Kristina Persson, said Tuesday 24 May the central bank is seeing signs of somewhat weaker economic activity than it had previously expected.
OECD says US rates to rise, ECB must cut
U.S. interest rates will need to rise further to keep inflation pressures in check but the growth outlook for other major world economies is precarious and the euro zone needs a rapid rate cut, the OECD said on Tuesday 24 May in its semi-annual Economic…
Fed's Olson on Basel II
In the speech 'Basel II' given on 16 May Mark Olson of the Federal Reserve said U.S. regulators would delay further or seek to change Basel II international bank soundness rules because of an uneven response by banks to a dry run of the rules.
Memorandum of understanding on financial crises
The banking supervisory authorities, the central banks and the Finance Ministries of the European Union (EU) have agreed on a Memorandum of Understanding on co-operation in financial crisis situations, 18 May.
Sweden's Nyberg on the Riksbank & inflation target
In the speech 'The Riksbank and the inflation target' given on 19 May Lars Nyberg of the Sveriges Riksbank said it is important to monitor whether the slackening tendencies seen in economic activity recently are temporary or more persistent.
Fed's Greenspan on energy
In the speech 'Energy' given on 20 May Alan Greenspan of the Federal Reserve said a modest easing in oil demand in response to higher prices should keep inventories rising in the U.S. and elsewhere for some months.
Chicago Fed National Activity Index, Apr 2005
The Chicago Fed National Activity Index for April 2005 was +0.10, up from -0.04 in March. Two of the four broad categories of indicators that comprise the index-employment and consumption and housing-made positive contributions.
Kosovo to establish a central bank
Economy and Finance Minister Haki Shatri told KosovaLive website that UNMIK (UN Interim Administration Mission in Kosovo) and the government finally have agreed that Banking and Payment Authority of Kosova will become the Central Bank of Kosova.
Iraq central bank plans payment transfer system
Iraq's central bank plans to implement a new interbank payment system that will revolutionize the country's inefficient banking system by the end of this year, Governor Sinan al-Shabibi said in an interview Friday 20 May.
Lacker says Fed may offer too many bank services
Richmond Federal Reserve Bank President Jeffrey Lacker said on Friday 20 May it was "hard to justify" the level of services the Fed provides for banks, particularly for clearing retail payments, such as check clearing.
Trichet sees many euro members breaking pact rules
European Central Bank president Jean-Claude Trichet said Monday 23 May many euro zone governments look set to return deficits above the stability and growth pact's limit of 3 pct of GDP this year.
Issing: Govts must deal with growth differentials
European Central Bank chief economist Otmar Issing said in a speech Friday 20 May euro zone growth differentials must be dealt with by national economic policies rather than by the ECB's interest rate policy.
International Journal of Central Banking launched
The first issue of the International Journal of Central Banking (IJCB) was published on Thursday 19 May.
BoE's Tucker reappointed to MPC
Paul Tucker, Executive Director for Markets at the Bank of England, has been reappointed for a further three-year term as a member of the Monetary Policy Committee with effect from 1 June 2005.
Bank of Canada to reallocate responsibilities
Bank of Canada Governor David Dodge and Senior Deputy Governor Paul Jenkins announced a reallocation of responsibilities among several Deputy Governors on Tuesday 17 May.
Senior appointments at Bank of Canada
Bank of Canada Governor David Dodge and Senior Deputy Governor Paul Jenkins, on behalf of the Board of Directors, announced a number of new appointments to the senior management team on Tuesday 17 May.
Euroclear appoints John Trundle MD
Euroclear SA/NV announced on Thursday 19 May that John Trundle will become Managing Director and head of Risk Management for the Euroclear group, effective 6 June.
Interview with RBI's Reddy
In an interview published on Wednesday 18 May Reserve Bank of India Governor Yaga Venugopal Reddy said any revaluation of the Chinese yuan will have less of an impact on India than other Asian countries.
Greenspan could stay on longer at Fed
The US administration of George W. Bush is considering whether to encourage Federal Reserve Chairman Alan Greenspan to stay for at least a few months beyond the 31 Jan expiration of his term, the Washington Post reported this week.
Fed's Gramlich resigns to pursue teaching
Edward Gramlich submitted his resignation Wednesday 18 May as a member of the Board of Governors of the Federal Reserve System, effective 31 August. Gramlich is resigning to pursue several teaching and research interests.
Paraguay's central bank chief approved by Senate
Fifty-three years after its creation, the Central Bank of Paraguay (BCP) is to be chaired by a woman, when the Senate awarded the position to Monica Lujan Perez dos Santos.
US revokes visa for ex-Nicaraguan cen bank chief
US authorities have revoked the visa of the former head of Nicaragua's central bank for reputed acts of corruption, the Associated Press reported officials saying.
Brazil's Meirelles faces fraud probe
Brazil's Supreme Court has authorised a criminal investigation against Henrique Meirelles, the country's central bank chief, over alleged tax fraud and misdemeanours against the financial system.
Mervyn King and the invisible hand
Bank of England governor Mervyn King delivered a speech this week in which he revealed his "Maradona theory of interest rates" based on the Argentine legend's second goal against England in the 1986 World Cup quarter-final.