Central Banking
Bank of Korea to publish rate discussions
The Bank of Korea (BOK) said on Friday 15 April that it intends to put details of what has been discussed at the seven-member Momentary Policy Committee on its website.
Japan's fin min says G7 leaders to discuss oil
Japanese Finance Minister Sadakazu Tanigaki said on Friday 15 April that G7 financial leaders are expected to study measures to curb high oil prices, including ways to change industrial structures of oil-consuming nations.
IMF's Rato criticises EU rules
International Monetary Fund chief Rodrigo Rato attacked reforms of the eurozone's budget rules on Thursday 14 April saying the pact had "served Europe well".
ECB's Papademos sees inflation around 2 pct
European Central Bank vice-president Lucas Papademos said on Friday 15 April that eurozone inflation is expected to fluctuate around 2 pct in the short term, but upside risks remain.
US increases pressure on China to float currency
The Bush administration stepped up its appeals for China to let its currency rise on Thursday 14 April, as pressure mounted in Congress for tougher action on a host of Chinese practices that allegedly fuel the burgeoning US trade deficit.
BNB deputy governor involved in bankruptcy case
Bulgarian central bank deputy governor Emilia Milanova was ordered to pay (BGN) 5, 000 bail or be arrested in an investigation of two commercial bank bankruptcies eight years ago, Bulgarian News Network reported Friday.
Sweden's Bergstrom on inflation
In a speech on 5 April Sveriges Riksbank deputy governor Villy Bergstrom said the key driving forces behind the currently low inflation, i.e. the rapid productivity growth and the low imported inflation, are factors that monetary policy can do very…
Tee on Singapore's perspective on Islamic Finance
In a speech on 'Singapore's perspective on Islamic Finance' given on 16 March, Ong Chong Tee of the Monetary Authority of Singapore's said we believe Islamic finance is a development that will see further growth globally. And as the sector develops, so…
Atlanta Fed's Barron on payment systems
In a speech on 'New remedies for a changing world of payments' given on 21 March, Patrick Barron of the Federal Reserve Bank of Atlanta said it is notable that the number of electronic payment transactions in the United States - for the first time -…
ECB Monthly Bulletin, April 2005
The European Central Bank published its April 2005 Monthly Bulletin on Thursday 14 April, saying there are "no clear signs" that economic growth in the twelve nation euro zone is set to accelerate as record oil prices weigh on business conditions.
Philippines makes Greenspan's job look easy
This article published on Monday 11 April looks at the changeover taking place in July when deputy governor Amando Tetangco replaces Rafael Buenaventura as governor at the Philippine central bank. Tetangco sees his tenure as being about "fusing…
Iran's central bank and Bundesbank hold talks
The head of Iran's central bank Ebrahim Sheybani and the President of the German Bundesbank Dr Axel Weber met in Frankfurt on Tuesday 12 April.
Oil, debt relief on G7 agenda says Snow
US Treasury Secretary John Snow said on Wednesday 13 April that global growth, debt relief and high energy prices will be key themes for a weekend meeting of G7 finance ministers.
Fed's Fisher 'comfortable' with rate increase pace
Richard Fisher, president of the Federal Reserve Bank of Dallas, said strong US growth has put inflation pressures in the spotlight but they still appear to be under control.
South Korea drops revaluation plan
South Korea's plan to raise the value of the local currency and issue higher face-value banknotes has been dropped for fear of a possible negative impact on the overall economy.
Bank of Canada cuts growth forecast for 2005
The Bank of Canada released its April 2005 Monetary Policy Report on 14 April. In the report the Bank lowered its growth forecast for the Canadian economy for 2005, cutting its estimate to 2.6 per cent.
St Louis Fed's Regional Economist, April 2005
The Regional Economist, April 2005 edition from the St Louis Fed includes the article "The trickle-down effect of Basel II" which says the new banking accord could make survival for some regional and community banks more difficult. Also included is "So…
Spain's Caruana on Basel II
In a speech given on 16 March Jaime Caruana of the Bank of Spain said Basel II represents a great opportunity for the EU to lead the way on international convergence, and I hope that we can seize this opportunity.
IMF Global Financial Stability Report, Apr 2005
The International Monetary Fund's Global Financial Stability Report for April 2005 says bigger than expected rises in long-term interest rates, or a sharp fall in the dollar, pose risks to a financial system that is at its most resilient in a long time.
IMF's Rajan on global current account imbalances
In a speech on 'Global current account imbalances: Hard landing or soft landing' given on 15 March, Raghuram Rajan of the IMF said foreign private investors are more important than central banks in funding the United States current account deficit.
FOMC Minutes, 22 March
Minutes from the Federal Reserve's 22 March meeting published on Tuesday 13 April revealed FOMC members saw higher inflation risks and debated whether to dump language about sticking to a "measured" pace of rate increases.
Fin mins concerned uneven growth may hinder ECB
Eurozone finance ministers are concerned that different growth rates among the 12 nations sharing the single currency could hamper European Central Bank policy making, a German government official told Reuters on Wednesday.
IMF sees slower economic growth in Japan
Japan's economy will show slower growth in 2005 but should gather steam as the year progresses, according to the IMF's World Economic outlook Wednesday, urging the Bank of Japan to keep monetary policy loose until the deflation threat is removed.
SARB holds 70% dollar-denominated reserves
South Africa's central bank holds 70 per cent of its foreign exchange reserves in dollars, the bank's financial markets head Daniel Mminele was quoted as saying on Wednesday.