Central Banking
Buba warns 'substantial risk' of deficit breach
The Bundesbank warned on Monday 22 November that Germany risks breaking the EU's tight budget rules again next year, even if it insists it will be able to meet its deficit commitments in 2005. In its November monthly report the German central bank said…
Bahrain establishes new money laundering taskforce
Bahrain is establishing a new taskforce to combat money laundering and terrorist financing across the region. The Middle East and North Africa Financial Action Task Force (MENAFATF) will be set up on November 29 and 30 in a meeting to be held behind…
RBNZ seeks Economics Department leader
The Reserve Bank of New Zealand said this week that it was looking for a self-motivated people manager to join the Bank's Economics Department to lead the Research team.
Denmark promotes Assistant Head of Division
Danmarks Nationalbank's Committee of Directors announced on 16 November that it has appointed Kristian Kjeldsen, Assistant Head of Division, to Head of Division.
ECB appoints new Director General Research
The Executive Board of the European Central Bank has appointed Mrs Lucrezia Reichlin, Professor of Economics at the Universite Libre de Bruxelles, Belgium, as Director General Research at the European Central Bank from 15 February 2005.
No decision made on ECB's new premises
The Governing Council of the European Central Bank said on Thursday 18 November that it will continue its deliberations on the new ECB premises.
Meirelles's ministerial status 'unconstitutional'
Brazil's state prosecutor, Claudio Fonteles, was quoted by AFX as saying that the presidential decree to grant the president of the central bank Henrique Meirelles cabinet minister status was unconstitutional.
ECB decides not to issue €1 or €2 banknotes
The Governing Council of the ECB decided not to introduce very low denomination euro banknotes. In a press release Thursday 18 November it concluded that the negative aspects of introducing very low denomination banknotes outweigh the positive aspects.
Philadelphia Fed Business Outlook Survey, Nov 2004
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, November 2004, activity in the region's manufacturing sector continues to expand. Manufacturing executives are more optimistic than they were last month about future…
Fed's Greenspan on the euro in wider circles
In a speech on 'Euro in wider circles' given on 19 November to the European Banking Congress, Alan Greenspan of the Federal Reserve said the persistence of huge U.S. trade deficits can pose a risk to the U.S. economy, which thus far has proven resilient.
President of India inaugurates RBI Monetary Museum
The President of India, Dr. A.P.J. Abdul Kalam, inaugurated the Reserve Bank of India's Monetary Museum on Thursday 18 November.
Caruana on Basel II - Emerging market perspectives
In a speech on 'Basel II - Emerging Market Perspectives' given on 11 November, Jaime Caruana of the Banco de Espaa and Chairman of the Basel Committee said Basel II is intended to reinforce our focus on risk and to encourage all of us to improve our…
ECB offers technical cooperation to NBS
A delegation from the European Central Bank (ECB), headed by Pierre Van der Hagen, held talks with Governor Radovan Jelasic at the National Bank of Serbia (NBS) on Thursday 18 November and offered technical cooperation, Tanjug News Agency said.
Unified accounting rules adopted by EU
The European Commission said it has adopted a regulation unifying accounting rules across the EU from January 2005, with the exception of two disputed provisions, BizWorld reported on Thursday 18 November.
Fukui says stronger yen may hold back recovery
Bank of Japan governor Toshihiko Fukui warned that the yen's recent surge against the dollar could hold back the nation's economic recovery.
IMF's Rato sees risks to market solutions
International Monetary Fund chief Rodrigo de Rato said in an interview released Thursday that a reliance on market forces alone to resolve global economic imbalances could prove dangerous and expensive.
CBC to leave currency to market forces
Taiwan's central bank is to leave the local currency to market forces while it closely monitors forex dealings for abnormal expectations about the currency's prospects, the Commercial Times reported, citing George Chou, director general of the forex…
Sweden's Rosenberg on economic outlook:
In the speech 'Economic outlook is changed' given on 17 November, Irma Rosenberg of the Sveriges Riksbank said that labour market developments will continue to be weak and there are still no clear signs of a turnaround. The continuation of favourable…
Santomero on prospects for the U.S. economy for 05
In a speech on 'Prospects for the U.S. economy for 2005' given on 16 November, Anthony Santomero of the Federal Reserve Bank of Philadelphia said the U.S. economy is on course for a sustained period of moderate economic growth with low inflation.
Minutes of the FOMC meeting 21 September
Minutes from the Federal Reserve's 21 September FOMC meeting released on 12 November revealed that the policy-setting panel spent part of the meeting discussing the implications of the United States' massive trade gap.
Gonzalez-Paramo on fiscal & monetary policy in EMU
In a speech on 'Fiscal and monetary policy in EMU' given on 11 November, Jose Manuel Gonzalez-Paramo of the ECB said that unlike most central bankers around the world today, and throughout history, European central bankers' point of reference is no…
Brouwer on financial integration in the EU
In a speech on 'Financial integration in the EU - some food for thought' given on 5 November, Henk Brouwer of the De Nederlandsche Bank said there has been substantial progress in financial integration in the EU, thanks to efforts by the Commission, the…
Toronto delegation visits European Central Bank
A delegation comprised of Deputy Mayor Joe Pantalone and Toronto business people visited the European Central Bank (ECB) on Wednesday 17 November.
Hungarian PM calls for central bank rate cut
Hungarian Prime Minister Ferenc Gyurcsany was quoted as saying on Thursday 18 November that he wanted the Hungarian central bank to cut interest rates to help the wider economy.