Central Banking
IMF's Rato offers condolences on bombings
International Monetary Fund Managing Director Rodrigo de Rato made a statement on Sunday 1 October expressing his deepest condolences at the terrorist attack in Bali.
Atlanta's Guynn says Fed work not done on rates
Atlanta Federal Reserve President Jack Guynn said in an interview on Monday 3 October that the Federal Reserve's 15-month interest rate hike campaign still has "a way to go" before completion.
Wellink warns against protectionism over China
Dutch central bank President and ECB Governing Council member Nout Wellink said Monday 3 September that European countries shouldn't resort to protectionism as a response to increased competition from China.
BoJ's Haru sees chance to lift super-loose policy
Hidehiko Haru, one of the Bank of Japan's nine policy board members said the BoJ sees the possibility of lifting its four-and-half-year long ultra-loose monetary policy in early 2006, but cautioned that the move would not be rushed.
IMF official calls for BOJ to 'be cautious'
A senior International Monetary Fund official on Monday 3 September urged the Bank of Japan to "be cautious" about ending its quantitative credit easing policy.
Bank of England rejects BCCI settlement offer
The Bank of England said on Tuesday 4 October that it had rejected a recent approach to settle a £1 billion lawsuit involving the collapse of Bank of Credit and Commerce International (BCCI).
Comment: Roach slates Greenspan
Do Alan Greenspan's recent comments regarding the relationship between asset prices, monetary policy and macroeconomic stability present an about-face on some of his most controversial views? If so, what does this mean for the person who is to succeed…
Fed's Ferguson on US currency
In the speech 'US currency' given on 28 September Roger Ferguson of the Federal Reserve said our hope is a smooth transition for the newly designed currency into daily cash transactions.
Financial de-dollarization: Is it for real?
De facto (unofficial) dollarization, defined as the holding by residents of assets and liabilities denominated in a foreign currency, is a policy concern in an increasing number of developing economies, according to this IMF Working Paper published on…
Int'l payment systems expand presence in Russia
This article published on Monday 3 October reports that payment systems have achieved notable success in Russia but operate differently than in most other markets.
Bank of Japan Annual Review 2005
According to the Bank of Japan's Annual Review 2005, the economy continued a recovery trend in fiscal 2004, although there seemed to be somewhat weak movements in production, particularly in IT-related sectors, in the second half of the fiscal year.
ECB's Trichet on European financial integration
In the speech 'European financial integration' given on 3 October Jean-Claude Trichet of the ECB said a lack of integration in EU mortgage markets carries costs for both housebuyers and banks.
OCC says US derivatives volume tops $96 trillion
Derivatives held by U.S. commercial banks increased by $5.1 trillion in the second quarter of 2005, to $96.2 trillion, the Office of the Comptroller of the Currency reported on Friday 30 September in its quarterly Bank Derivatives Report.
ZABG illegally acquired bank assets
The Reserve Bank of Zimbabwe's economic turnaround strategy was dealt a severe blow recently when a Supreme Court ruling found that its "Zimbabwe Allied Banking Group" (ZABG) had illegally acquired assets from collapsed commercial banks.
ECB's Tumpel-Gugerell on euro payments area
European Central Bank executive board member Gertrude Tumpel-Gugerell said foreign banks will take the leading role in restructuring the European banking sector if domestic banks move too slowly to create a single eurozone payments area.
Wrong time to cut funds target says BOJ's Nakahara
Bank of Japan policy board member Shin Nakahara said in a speech on Monday 3 October that it would be inappropriate to lower the BOJ's funds target now, and that the threshold for ending its superloose policy framework was not low.
BOJ's Fukui sees 'fully sustainable' recovery
Bank of Japan Governor Toshihiko Fukui said on Monday 3 October that Japan's economic recovery seems "fully sustainable," though it is very subdued.
Chavez says foreign reserves shifted to Europe
Venezuela has moved its central bank foreign reserves out of US banks, liquidated its investments in US Treasury securities and placed the funds in Europe, Venezuelan President Hugo Chavez said on Friday 30 September.
US payment system working well says Fed's Stern
The US payments system appears to be working well and there is no need for the Fed to significantly alter its role, Minneapolis Federal Reserve President Gary Stern said on Thursday 29 September.
Comment: IMF under fire again
Writing in the Financial Times yesterday eminent economist, Michael Mussa, who served as economic counsellor and director of the department of research at the International Monetary Fund from 1991-2001, joined the chorus of voices arguing that the Fund…
Central Bank of Swaziland Annual Report 2004-2005
The Central Bank of Swaziland has published its Annual Report for 2004-2005.
Sir John Gieve's Biography
John Gieve has been Permanent Secretary of the Home Office since April 2001. It is one of the biggest and most complex departments in government which is responsible for expenditure of some £20 billion a year and employs more than 70,000 people.
Fazio, humiliated, still fails to take the hint
The Economist magazine gave its opinion on the Fazio Affair in this article published on Monday 26 September. Mr Fazio's behaviour has wrecked the reputation of the central bank, hitherto one of the country's few internationally respected institutions,…
Greenspan farewell party set for December
Finance ministers and central bank presidents from the G7 nations have ensured Alan Greenspan's departure will not go unnoticed with a special session scheduled for December in London as a farewell party.