Central Banking
Dallas Fed conference on euro successes/challenges
The Federal Reserve Bank of Dallas and University of Texas at Austin will host an assembly of key economists and European central bankers on 14 May to discuss the euro's successes and assess challenges it now faces.
Trichet calls for banking consolidation in Europe
European Central Bank President Jean-Claude Trichet on Wednesday called for further consolidation in the European banking sector and said that cross-border tie-ups were likely to accelerate in future.
Fed study says US deflation risk was overstated
A new study from the Federal Reserve Bank of Atlanta says risks of U.S. deflation may have been overstated, blaming the scare last year on rent and used car prices rather than widespread disinflation.
ECB signs agreement with Interpol
The President of the ECB, Jean-Claude Trichet, and the Secretary General of Interpol, Ronald K. Noble, have signed an agreement aimed at ensuring effective co-operation between both parties in the protection of the euro and the fight against…
New Member State NCBs included in ERMII agreement
As of 1 May 2004, the National Central Banks of the ten new Member States of the European Union have become parties to the ERM II Central Bank Agreement.
Euro banknotes with Jean-Claude Trichet signature
Euro banknotes bearing the signature of Jean-Claude Trichet, President of the European Central Bank (ECB), are starting to come into circulation, the ECB said in a statement. Production of these banknotes began shortly after Trichet became President on 1…
Four new EU members hope to join euro
Four of the 10 new European Union members could take the first step towards joining the euro by the end of the year, with the aim of adopting the single currency in 2007, according to the European Commission.
BOJ's Fukui sees hope for prices
The governor of the Bank of Japan, Toshihiko Fukui, said on Sunday 2 May that he saw hope for ending six years of falling prices as early as the end of the current fiscal year, which began April 1.
Sarkozy pledges to cut in deficit, sell reserves
French Finance Minister Nicolas Sarkozy has promised to bring the country's deficit under control and also proposed to sell some of the gold held at the Bank of France.
Fed set to hold rates, but signal change in stance
Federal Reserve policy-makers were due to meet on Tuesday 4 May to plot the beginning of the end for the lowest U.S. official interest rates in 46 years. Some analysts believe there's a chance that the Fed might drop the word ''patient'' in its statement…
SADC: Central bank independence reduces inflation
Finance and development planning minister, Baledzi Gaolathe, told the SADC meeting of central bank governors in Botswana that countries where central banks enjoy independence had greater success in reducing inflation and improved micro economic…
Ethics for central bankers
The ejection of Ernst Welteke from the presidency of the Bundesbank has focused many central bankers on the issue of professional ethics. CentralBankNet examines how leading central banks navigate the issue.
Weber officially takes over at Bundesbank
Economics professor Axel Weber was formally appointed on Friday 30 April to head the Bundesbank, following Ernst Welteke's recent resignation. He can therefore attend the next meeting of the European Central Bank in Helsinki next week.
IMF to name new Managing Director Tuesday
The International Monetary Fund will announce its next managing director on Tuesday 4 May, board sources said on Thursday, Reuters reported. The job is widely expected to go to Spain's former economy minister, Rodrigo Rato.
New deputy head of Riksbank's Fin Stability dep't
The Executive Board of the Riksbank decided at its Wednesday meeting (April 28)to appoint Anders Kragsterman deputy head of the Financial Stability Department. He will take up this post during the autumn.
Yukos board approves Gerashchenko's candidature
The board of directors of the YUKOS oil company has approved former president of the central bank of Russia, Viktor Gerashchenko, to stand as a member of the board of the oil company.
Mugabe arrests his Finance Minister
Zimbabwe's finance minister was arrested on Saturday (24 April) on charges of dealing in foreign currency. He is the first senior official in President Robert Mugabe's government to be detained in a corruption crackdown.
Colin Powell linked to World Bank top job
A report in the New York Times this week said the buzz in the capital was that Colin Powell could be the next president of the World Bank.
Ex-CBK deputy governor in witness box
Former deputy Governor of the central bank of Kenya Eliphaz Riungu told the Goldenberg inquiry this week that he never opened accounts in the Indosuez Sogem Aval Ltd London branch bank for Central Bank of Kenya.
SNB's Hildebrand: Inside Europe, outside EMU
In the speech 'Inside Europe, outside EMU - Lessons and Outlook' given on 23 April, Philipp Hildebrand of the Swiss National Bank said a lesson that can be drawn from the UK experience is that it would be wrong for Switzerland to advocate an EMU…
Bies on current issues in corporate governance
In a speech on 'Current issues in corporate governance' given on 26 April, Susan Bies of the Federal Reserve said it was important for banks to ensure their processes for determining loan-loss reserves were solid.
Papademos on five years of the euro
In a speech on 'Five years of the euro: past achievements and future challenges' given on 27 April, Lucas Papademos of the ECB said today we mark "The Euro at Five". The accomplishments of those five years are already substantial, he said, and we are…
SF Fed's Parry on globalization
In a speech on 'Globalization: Threat or Opportunity for the U.S. Economy?' given on 29 April, Robert Parry of the San Francisco Fed said the US economy benefits from companies' decisions to move jobs overseas because it creates new employment…
ECB welcomes the new EU Member States
On 1 May the European Union will have ten new Member States, the Czech Republic, Estonia, Cyprus, Latvia, Lithuania, Hungary, Malta, Poland, Slovenia and Slovakia. In a press release Friday, Jean-Claude Trichet welcomed the ten saying "We look forward to…