Central Banking
UK Treasury's Brown sees recovery 'uncertainties'
UK Chancellor of the Exchequer Gordon Brown said in a speech that resilience of the global economic recovery is more uncertain in the face of rising oil prices and currency fluctuations.
Sveriges Riksbank Economic Review 3rd Quarter 2004
The Sveriges Riksbank published its Economic Review for the 3rd Quarter 2004 on 8 November. The latest issue contains three articles: How should the Riksbank's financial stability work develop?, Cash-supply efficiency and Inflation and relative-price…
Mexico on an upswing
Mexico's inflation has come down and the economy has recovered sharply, but can the central bank keep up the good work? Benedict Mander reports for CentralBankNet.
RBA Statement on Monetary Policy, November 2004
The Reserve Bank of Australia published its November 2004 Statement on Monetary Policy on 8 November. The Australian economy has continued to perform well during 2004, maintaining a solid pace of expansion and low inflation, the report said.
Fed's Bies on financial supervision issues
In a speech on 'Financial supervision issues' given on 5 November, Susan Schmidt Bies of the Federal Reserve said the US government budget has become a "cookie jar" for lawmakers over the past four years, with taxpayer funds spent in some cases for …
Chicago Fed's Moskow on community development
In a speech on 'Lessons for Community Development Financial Institutions' given on 5 November, Michael Moskow of the Federal Reserve Bank of Chicago said Community banks could learn from some of their competitors, such as check-cashing services, and…
Japan's Fukui watching forex market
Bank of Japan Governor Toshihiko Fukui said on Sunday 7 November that the Bank of Japan was watching currency markets warily after the dollar fell last week but did not think Washington was trying to guide the dollar lower.
Illarionov says Russia diversifying fx reserves
By selling US dollars, securities and assets denominated in the US currency, Russia is diversifying its currency reserves, which is in line with the policy pursued by the Central Bank of Russia, Andrei Illarionov, adviser to the Russian President on…
PBOC to take 'gradual and safe' approach on yuan
The People's Bank of China said on Saturday 6 November that it would take a "gradual and safe" approach to loosening the yuan-dollar peg, following International Monetary Fund calls to let the currency float in a wider margin.
Trichet says euro's record rise 'not welcome'
Economic growth "remains very steady," European Central Bank President Jean-Claude Trichet said at a briefing after a meeting in Basel, Switzerland, of the G-10 group, which he chairs. "Perhaps we're going to a level that's more sustainable in the medium…
Iraqi central bank authorises hard currency loans
The Iraqi Central Bank has authorized the public and private banks to give loans in hard currency to citizens in accordance with the regulations and mechanisms approved by each bank's board of directors.
Securities and clearing settlement systems
This ECB occasional paper "Governance of securities clearing and settlement systems" provides a description of the existing general approaches to corporate governance. It then identifies determinants of the corporate governance structures and mechanisms…
Interview with Central Bank of Nigeria's Soludo
In a recent interview Central Bank of Nigeria governor Charles Soludo talked about his plan to increase banks' minimum capital requirement. Soludo gives his opinion on some of the most talked-about points of his plan.
Norway's Gjedrem appointed to second term
Norges Bank governor Svein Gjedrem was appointed to a second term on Friday 29 October. Press reports described the move as a vote of confidence for his management policies.
Albania votes in new central bank chief
Albania's parliament voted to confirm some changes to top executive posts on Thursday 28 October including the appointment of Ardian Fullani as the new central bank governor.
Interview with Central Bank of Cuba's Soberon
In an interview published this week, president Francisco Soberon of the Central Bank of Cuba said it would be extremely unwise for Cuba to change the one-to-one exchange rate to the dollar after the Cuban people have shown such confidence in the Cuban…
Bank of Israel promotes 20 percent of staff
A press report said this week that Bank of Israel governor David Klein has decided to promote 20 per cent of the central bank's staff, with salary increases of between 10 and 15 per cent. Haaretz said the move was made without consulting the workers…
RBI names Gopinath as key department head
Shyamala Gopinath, a deputy governor in the Reserve Bank of India, took charge of the key departments of monetary policy and internal debt management this week following Rakesh Mohan's move to Economic Affairs secretary in the government.
CBN may lose 2,000 staff
The Central Bank of Nigeria may lose up to 2,000 staff as part of a restructuring of the bank, press reports said this week. The majority of the affected employees work in four departments which are to be phased out as part of the plans, Vanguard said.
List of Greenspan successors shrinks
The re-election of President George Bush sharply narrows the field of candidates to succeed Alan Greenspan as Federal Reserve chief, this article says. Steven Cecchetti is quoted as saying Martin Feldstein is the unconditional best candidate.
Dallas Fed's McTeer says 'Goodbye and howdy'
Federal Reserve Bank of Dallas President Bob McTeer resigned on Thursday 4 October to become chancellor at Texas A&M University, ending a 36-year career in the Federal Reserve system. In a statement posted on the Dallas Fed's website on Thursday titled …
Ukrainian election heads for runoff vote
The top two candidates to succeed Ukrainian President Leonid Kuchma are heading for a run-off vote on 21 November, after neither won a majority in the first round. Former governor of the National Bank of Ukraine Viktor Yushchenko is one of the candidates.
Tumpel-Gugerell on the euro's success & challenges
In a speech 'Six years after the euro: Success and challenges' given on 5 November, Gertrude Tumpel-Gugerell of the ECB said excessive volatility in the foreign-exchange market is "not beneficial" and can be "painful" for exporters.
Bergstrom: Riksbank to blame for unemployment?
In a speech titled 'Is the Riksbank to blame for unemployment?' given on 4 November Villy Bergstrom of the Sveriges Riksbank said all factual criticism of the Riksbank's forecasts is good, but there's a risk of concentrating the debate on our interest…