Central Banking
Slovak central bank warns on intervention
A senior official in Slovakia's central bank said on Monday 17 January that the bank was still prepared to intervene in the currency markets to weaken the crown.
Lithuania plans to adopt euro in 2007
The Central Bank of Lithuania on Tuesday 18 January announced its intention to replace its national currency, the litas, with the euro on Jan. 1, 2007, the Baltic news service (BNS) reported.
SA's Manuel backs plan to sell IMF's gold
South Africa would back a British proposal to use International Monetary Fund (IMF) gold reserves to write off the debts of poor countries, finance minister Trevor Manuel said on Monday 17 January.
Buba's Stark says pact revamp may push up rates
Bundesbank Vice-President Juergen Stark said in an article that proposals to revamp European Union budget rules may lead to higher interest rates across the eurozone.
EU in disagreement over euro rules
Finance ministers from all 25 EU member states continued talks launched late Monday by ministers from the 12 euro nations on how best to revamp the Stability and Growth Pact.
St Louis Fed's Poole on GSE risks
In a speech on 'GSE risks' given on 13 January, William Poole of the Federal Reserve Bank of St. Louis said Fannie Mae and Freddie Mac should be required to hold more capital to cushion against shocks, even ones that seem unlikely.
SARB's Mboweni on South Africa's new banknotes
In a speech given on 17 January, Tito Mboweni of the South African Reserve Bank said the preparation for the issue of the upgraded series of banknotes has been a complex and a painstaking one and we are very proud of the result.
ECB's Padoa-Schioppa to visit Stockholm
Tommaso Padoa-Schioppa, member of the Executive Board of the European Central Bank, will visit Stockholm on Thursday, 20 January at the invitation of the Sveriges Riksbank.
SARB launches upgraded banknote series
The South African Reserve Bank (SARB) on Monday 17 January launched banknotes with improved security features which will go into circulation from 1 February 2005.
ECB annual quality report on euro area statistics
The European Central Bank on Friday 14 January published a document entitled "Euro area balance of payments and international investment position statistics - Annual quality report". The report includes quantitative indicators developed by a joint ECB …
PBOC to support corporate bond issues
The People's Bank of China will support more corporate bond issues to diversify risk and ease pressure on commercial banks, vice-governor Wu Xiaoling said.
Oman central bank hosts corporate governance forum
An Arab banking forum on corporate governance was scheduled to open on Monday January 17th under the patronage of Hamoud bin Sanjour al-Zedjali, Executive President of the Central Bank of Oman (CBO).
Takanaka: BOJ, gov must work together on deflation
The Japanese government and central bank need to work together to end deflation, Economic and Fiscal Policy Minister Heizo Takenaka said on Monday 17 January after a cabinet meeting in Tokyo.
Boston Fed's Minehan warns of slow recovery
Cathy Minehan, president of the Federal Reserve Bank of Boston, said on Friday 14 January that businesses continue to hoard cash, making the current economic recovery among the weakest of the past half-century if measured by job growth.
Eichel says EU 3% deficit limit to stay in revamp
German Finance Minister Hans Eichel said on Monday 17 January that planned changes to European Union rules that limit budget deficits and debt levels in the euro region won't alter the two existing numerical thresholds.
ECB's Trichet on the euro; successes & challenges
In a speech on 'The euro; successes and challenges' given on 14 January at the Anglo-American Press Association in Paris, Jean-Claude Trichet of the ECB reiterated his view that "sharp" gains in the euro are "unwelcome and undesirable for economic growth…
ECB's biannual information on euro counterfeiting
The European Central Bank revealed on Thursday 13 January that in the second half of 2004, a total of 287,000 counterfeit euro banknotes were withdrawn from circulation, both in euro area and in non-euro area countries.
ECB decides on the design for its new premises
At Thursday's meeting, 13 January, the European Central Bank reached a decision on the design of the ECB's new premises in Frankfurt am Main, Germany. The Governing Council concluded that the revised design concept of COOP HIMMELB(L)AU best meets the…
Faster growth may lead to higher rates, says Weber
European Central Bank council member Axel Weber said that the central bank may have to increase interest rates if the eurozone economy expands more quickly than it expects.
Slovenia central bank sees euro criteria met in 06
Slovenia will meet the EU convergency criteria for countries that want to join the eurozone by the middle of 2006, according to the Bank of Slovenia.
Thailand plan may cut central bank powers
According to a report published on Friday 14 January, Thailand's finance ministry is planning an overhaul of the financial regulatory system, which would restrict the power of the Bank of Thailand by creating a new independent agency to supervise banks…
Korea holds rates at record low
South Korea's central bank on Thursday 13 January froze its key interest rate for January at a record low of 3.25 per cent, citing robust exports.
Danmarks Nationalbank, Monetary Review 4th Q 2004
The Danmarks Nationalbank's Monetary Review for the fourth quarter 2004 includes the articles: Recent economic and monetary trends, Volatility in the overnight money-market rate, The EU Constitutional Treaty and EMU and Transparency in capital markets.
Fed's Ferguson on recessions and recoveries
In a speech on 'Recessions and recoveries associated with asset-price movements: What do we know?' given on 12 January, Roger Ferguson of the Federal Reserve said detecting asset-price overvaluations and undervaluations is controversial in hindsight and…