Central Banking
Tajik central bank chief's home robbed
The home of the governor of the central bank of Tajikistan was broken into late on Thursday 30 June by unknown assailants who killed one guard and stole cash and jewellery, Reuters reported.
EU's Almunia says Poland should join EMU soon
The EU Commissioner for Economic and Currency Affairs, Joaquin Almunia, has expressed hope that Poland will join the eurozone (EMU) as soon as it meets the fiscal requirements.
Indonesia sets up bank supervision board
The Lower House of Indonesia's Parliament Commission XI has set up a five-member supervisory board for the central bank which will be chaired by a former banker and banking legal expert Sutan Remy Sjahdenini, Bisnis Indonesia reported.
Korea launches reserve management agency
South Korea launched an independent agency Friday 1 July which will manage part of its foreign exchange reserves, seeking to boost investment returns.
US Senators delay China currency bill vote
U.S. Senators Charles Schumer and Lindsey Graham have delayed a vote on their bill to impose tariffs on Chinese imports after Federal Reserve Chairman Alan Greenspan and Treasury Secretary John Snow persuaded them China will make its exchange rate more…
Mexico's Ortiz confirms break with Fed rates
The monetary policy of the Bank of Mexico has been decoupled from the Federal Reserve's interest rates, central bank governor Guillermo Ortiz Martinez said.
PBOC meeting ends with stable yuan pledge
The People's Bank of China concluded the second quarter meeting of its policy advisory committee with a statement pledging to continue with exchange rate reform while maintaining the stability of the yuan at a 'balanced and reasonable level'.
The future of the International Monetary System
Is the international financial architecture debate over? Not according to leading experts gathered together in a new book which tries to identify the key trends that will fashion the international financial system in the years ahead.
Sweden to discontinue old notes and coins
The Sveriges Riksbank said on Wednesday 29 June that a number of old banknotes and coins to the value of almost SEK 5 billion will cease to be legal tender from 1 January 2006.
Statement by IMF MD Rodrigo de Rato on Argentina
Rodrigo de Rato, Managing Director of the International Monetary Fund (IMF), issued a statement on Wednesday regarding a new economic program with Argentina.
The politics of central bank independence
This New York Fed Staff Report proposes a theory to explain why, and under what circumstances, a politician endogenously gives up rent and delegates policy tasks to an independent agency.
Norges Bank Inflation Report, June 2005
Norway's central bank, Norges Bank, published its latest Inflation Report for June 2005 on Thursday 30 June. The Bank raised the sight deposit rate to 2% from 1.75% but conceded that recent developments such as weaker economic growth prospects for Europe…
Fischer says modern Bank of Israel law needed
Governor of the Bank of Israel Prof. Stanley Fischer said in a speech that the new law will establish a monetary committee and an administrative council to work together.
Greenspan, Snow meet lawmakers on China trade
Federal Reserve Chairman Alan Greenspan and US Treasury Secretary John Snow were due to travel to Capitol Hill on Thursday 30 June to discuss the issue of China trade policy with lawmakers.
Armenian central bank law to strengthen dram
A central bank of Armenia law enacted on 28 June on hard currency regulation and hard currency supervision, seeks to strengthen the position and significance of Armenia's national currency, the dram.
Reserve Bank of Australia calls for China float
Reserve Bank of Australia governor Ian Macfarlane has added his voice to international pressure on China to float the yuan, arguing in a speech that it is in China's interest for the currency to rise.
Federal Reserve expected to raise rates again
The Federal Reserve was widely expected to increase US interest rates by a quarter point to 3.25 per cent at the conclusion of its FOMC meeting on Thursday 30 June.
Does world need a universal financial institution?
This Working Paper asks whether the International Monetary Fund is an appropriate model for a world where macroeconomic imbalances, financial crises, and disparities in economic development must compete for attention and resources?
ECB's Trichet on monetary policy in EMU
In the speech 'Monetary policy in EMU - views and challenges' given on 24 June Jean-Claude Trichet of the ECB said slow growth rates in some euro zone countries may reflect poor competitiveness and economic rigidities, rather than the normal divergences…
Kansas Fed's Hoenig on the US economic outlook
In the speech 'The US economic outlook and monetary policy: Under an inflation watch?' given on 16 June Thomas Hoenig of the Federal Reserve Bank of Kansas City said the Fed could slow down its policy action if the economy weakened but speed up if growth…
SARB's Quarterly Bulletin, June 2005
The South African Reserve Bank released its June 2005 Quarterly Bulletin on 23 June. In the Bulletin the SARB said firm increases in economic activity in recent quarters have improved employment prospects materially.
Canada's Dodge on the international monetary order
In the speech 'The international monetary order and the Canadian economy' given on 28 June, David Dodge of the Bank of Canada said that while imbalances in global savings and investment flows are an international problem, policy-makers can help resolve…
ECB's Bini Smaghi says rates at historical lows
European Central Bank board member Lorenzo Bini Smaghi was reported in La Repubblica newspaper as saying that the ECB's interest rates are at historical lows.
Dodge calls for G8 focus on imbalances
Bank of Canada governor David Dodge urged the Group of Eight to focus more on imbalances affecting global prosperity than on Africa and climate change.