Central Banking
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.
New book covers history of the BIS
A new book, covering the history of the Bank for International Settlements (BIS) from 1930 to 1973, was published on Tuesday 17 May.
Bank of Canada issues upgraded $10 bank note
The Bank of Canada put into circulation an upgraded $10 bank note with enhanced security features on Wednesday 18 May.
Fed's Kohn on modeling inflation
In a speech on 'Modeling inflation: A policymaker's perspective' given on 20 May, Donald Kohn of the Federal Reserve called for improvements in inflation modeling, saying an increase in core US inflation in 2004 and 2005 caught him and many other…
BoE's Large on a framework for financial stability
In a speech on 'A framework for financial stability' given on 18 May, Andrew Large of the Bank of England cautioned that new entrants such as hedge funds and insurers have become active in derivatives at a time when the depth of the market is still…
BoJ's Fukui says board split 7-2 on target cut
Bank of Japan governor Toshihiko Fukui said on Friday 20 May that the BoJ's policy board vote was spilt 7-2 on maintaining the liquidity target at 30-35 trln yen. "Two members thought the target ought to be lowered," Fukui told a press conference.
Hungary bank chief says forint can weaken
Hungary's forint can weaken by "a few percentage points" without sparking an inflation rise, deputy central bank governor Gyorgy Szapary said in an interview.
Rato says US deficit weighing on world economy
The International Monetary Fund's forecast for global economic growth this year remains unchanged at 4.3 per cent although the US current account deficit is still weighing on the world economy, IMF chief Rodrigo Rato said on Thursday.
IBM transforms Bank of Korea's forex system
A major software giant has said it has completed the transformation of the Bank of Korea's foreign exchange asset management system for foreign exchange reserves.
Treasury envoy to press China on peg system
The US Treasury has appointed a special envoy on China who will have an enlarged mandate to engage China on its exchange rate, which has been pegged to the dollar for the past decade.
NRB governor elected to ACU president
The governor of the Nepal Rastra Bank (NRB), Bijaya Nath Bhattarai was elected president of the Asian Clearing Union (ACU) at its 34th annual meeting in Lahore this week.
ECB's Papademos on monetary stability, integration
In the speech 'Monetary stability and financial integration in Europe' given on 9 May Lucas Papademos of the ECB said the ECB is committed to, and will continue to support, the process of structural reform in financial markets, as well as in labour and…
Sweden's Srejber on supervisory responsibility
In the speech 'The divorce between macro financial stability and micro supervisory responsibility: are we now in for a more stable life?' given on 13 May Eva Srejber of the Sveriges Riksbank said she finds it hard to see how, in the long run, the EU…
IMF's Krueger on the future of Turkey's economy
In the speech 'Turkey's economy: A future full of promise' given on 5 May Anne Krueger of the IMF said the need for structural reform is never-ending in the modern global economy and this is true here in Turkey as elsewhere.
China rejects calls for currency change
Chinese officials have rejected both Washington's demand that China loosen its fixed exchange rate policy and Europe's threat of quotas on a tide of Chinese textiles.