Central Banking
Hungary's new Monetary Council members appointed
Hungary's President Ferenc Madl has appointed the new members of the Monetary Council. Judit Nemenyi, Tamas Banfi, Peter Bihari and Csaba Csaky will become members of the council from 1 March.
French finance minister resigns over apartment
Herve Gaymard, the French finance minister, resigned on Friday 25 February following revelations about his state-funded luxury apartment.
Report says China peg impact overstated
Research published by the Federal Reserve Bank of Cleveland on Thursday 24 February said that China's exchange rate peg to the dollar has had less of an impact on its trade surplus with the United States than many observers have assumed.
Most G7 favour IMF gold sales idea - report
A majority of Group of Seven members favour selling some of the International Monetary Fund's gold reserves to finance debt relief, a German newspaper on Friday 25 February reported G7 sources as saying.
Central Bank of Iraq aims for monetary stability
According to AZZAMAN newspaper, the Central Bank of Iraq has announced that it intends to fight inflation and achieve monetary stability in Iraq following a noticeable increase in prices over the past few months.
Measured rate rises working- Fed's Bernanke
Federal Reserve Governor Ben Bernanke said on Thursday 25 February that with US inflation controlled the Fed can continue with its policy of gradual interest rate increases.
Paraguay to implement electronic payment system
Paraguay's central bank (BCP) plans to implement an electronic payment system costing US$5mn in order to facilitate the flow of documents with other public bodies, local newspaper La Nacion reported.
Qatar set to host 2nd Islamic financial summit
The Islamic Financial Services Board (IFSB) is to hold its second summit in Doha, Qatar on 24-25 May 2005, with the Central Bank of Qatar as the host, the summit secretariat said.
Sri Lanka's Mendis on central bank governance
In a speech given on 29 January (published 11 Feb) Sunil Mendis of the Central Bank of Sri Lanka said the strategic plan of a central bank should be formulated in such a way that it strategically links its goals, objectives and action plans to the…
HKMA's Yam on Basel II: Back to the future
In the speech 'Basel II: Back to the future' given on 4 February, Joseph Yam of the Hong Kong Monetary Authority said the new framework of capital adequacy standards for banks, issued by the Basel Committee on Banking Supervision, is an important step…
CGFS announces 4th central bank conference
It was announced on Wednesday 23 February that the European Central Bank in co-operation with the Bank of Japan and the Board of Governors of the Federal Reserve System, will host the fourth in a series of joint central bank research conferences on risk…
BoE's Lomax: Mon. stability matters to Merseyside
In the speech 'Why monetary stability matters to Merseyside' given on 24 February Rachel Lomax of the Bank of England said the Bank sees a rebound in household spending and may not be able to wait before increasing interest rates.
Federal Reserve Minutes from Feb meeting
Minutes from the Federal Reserve's 1 and 2 February meeting published on Wednesday 23 February revealed broad agreement among members of the Federal Open Market Committee on the need for further rate increases to prevent accelerating inflation.
Foreign reserves, Asia's problem of plenty
The dilemma facing many of emerging Asia's economies over how best to use their massive stock of dollar reserves is hardly new, this article says, but some economists suggest spending central bank reserves on domestic projects, rather than leaving them…
PBoC will 'actively promote' exchange rate reform
The People's Bank of China said in a report released on Thursday 24 February that it will "actively promote" reform of the exchange rate regime this year.
ASEAN currency swap deal extended
Central bankers from the Association of Southeast Asian Nations signed an agreement on Thursday 24 February to extend until 2006 a currency swap deal intended to help ASEAN members experiencing international liquidity problems.
BOK's Park says 'no such plans' on dollar sales
The Bank of Korea has no plans to sell dollars out of the country's foreign reserves and replace them with other currencies, bank chief Park Seung said on Thursday 24 February .
RBI's Udeshi on the pursuit of financial stability
In a speech on 'The pursuit of financial stability' given on 10 February, Smt. KJ Udeshi of the Reserve Bank of India said India's banking regulator will continue to focus greatly on financial stability, considering that the country is more vulnerable to…
Le Pan on the implementation of Basel II
In a speech on 'Implementation of Basel II' given on 1 February (published 11 February) Nicholas Le Pan of the Basel Committee said that as we approach each issue of implementing Basel II - when, how and so on - it is important to keep in mind not only…
Philadelphia Fed Business Outlook Survey, Feb 2005
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, February 2005, expansion in the region's manufacturing sector is growing at a slightly faster rate than in January.
BoE's Bean: Monetary policy in an uncertain world
In a speech on 'Monetary policy in an uncertain world' given on 22 February, Charles Bean of the Bank of England said that uncertainty is an ever-present feature of the economic landscape that monetary policy makers cannot escape.
Bank of England MPC Minutes, 9 &10 February
The minutes from the 9 &10 February meeting of the Bank of England's Monetary Policy Committee published on Wednesday 23 February showed eight members voted to hold interest rates unchanged, with Paul Tucker voting against, preferring a rise in the repo…
Fukui says reserve target assessment in April
Bank of Japan Governor Toshihiko Fukui said Wednesday 23 February the central bank will decide after April if its target for reserves available to lenders is appropriate, adding that the policy of pumping funds into the economy will be maintained.
ECB's Caruana says inflation outlook favourable
European Central Bank governing council member Jaime Caruana said in a speech the eurozone's inflation outlook is relatively favourable and inflation should fall below 2 per cent in the coming months.