Central Banking
Former Bank of England chief calls on ECB to cut
Sir Edward George, the former Bank of England governor, called for the European Central Bank to cut interest rates to boost the economy in the 12-country region that uses the euro, according to a newspaper report.
Japanese government upbeat on economy
The Japanese government gave a positive assessment on Japan's economy in its monthly report issued Monday, citing increased consumer spending and surging exports, especially to China.
Report says strong euro dented Bundesbank profits
The Bundesbank saw its annual profit fall to less than one billion euros (1.2 billion dollars) last year as a result of the strong euro and that could pose a problem for the German government's finances, according to a report in a German business daily.
Ex-NY Fed chief McDonough sees no rate hike soon
William McDonough, who until last year held the second most powerful position at the Federal Reserve said in a TV interview Friday it's going to be quite a while before the Federal Reserve raises interest rates.
Bank of England Inflation Attitudes Survey, Feb 04
The Bank of England's February 2004 quarterly Inflation Attitudes Survey was published on 15 March. Asked what would be best for the British economy on interest rates - 23% thought they should go up, the highest outturn since the series began. The…
PBOC vice-governor: yuan hasn't cost US jobs
Guo Shuqing, vice-governor of the People's Bank of China and director-general of the State Administration of Foreign Exchange (SAFE), said in an interview that the allegation the renminbi is undervalued and has cost US jobs is unfounded.
Heads of EurAsEC central banks to meet in Belarus
The 9th meeting of the Council of chairmen of the central banks of the Eurasian Economic Community (EurAsEC) member states is expected to start in Minsk on March 12, the National Bank of Belarus (NBB) said on Thursday 11 March.
Matti Vanhala to retire on disability pension
The Bank of Finland announced on Thursday 11 March that Governor Matti Vanhala will retire from 1 April. Deputy Governor Matti Louekoski will assume his responsibilities until a replacement is found.
Padoa Schioppa gets honorary law degree
Tommaso Padoa Schioppa was due to receive an honorary law degree on Friday 12 March in a ceremony at the University of Bari.
ECB mourns Spanish bomb victims
In Frankfurt on Thursday 11 March, about 150 employees of the European Central Bank gathered before the bank headquarters in a memorial service for the victims of the Madrid bombing.
Bangladesh Bank denies IMF advisor controls it
Bangladesh Bank (BB) this week brushed aside an allegation that the International Monetary Fund was dictating to it through an IMF official recently installed as advisor to the governor.
RBZ head Gono receives death threats
The head of the Reserve Bank of Zimbabwe, Gideon Gono, picked by President Robert Mugabe to lead the government's anti-corruption drive, has claimed he has received death threats from corrupt businessmen and politicians, a newspaper reported this week.
Woman tries to spend fake $1 million note
A US woman was charged with forgery this week after trying to spend a $1 million bank note in a Georgia supermarket. Staff refused to accept the note or hand over her $998,328.45 in change (if they had it!) and called the manager.
Developing nations seek IMF top job
While the smart money is increasingly moving towards Spanish Finance Minister Rodrigo Rato as Horst Kohler's successor at the IMF, developing countries have waded into the debate and staked their claim to the Fund's top job.
Second ECB conference on statistics
The European Central Bank confirmed on Thursday 11 March that it will hold its second conference on statistics on 22 and 23 April 2004 in Frankfurt on "Statistics and their use for monetary and economic policy-making".
RBNZ Monetary Policy Statement, March 2004
The Reserve Bank of New Zealand has published its Monetary Policy Statement (MPS) for March 2004. Speaking at the release of the Statement Governor Alan Bollard said New Zealand has continued to enjoy a period of sustained economic growth over recent…
Chicago Fed's 2004 Payments Conference
The Federal Reserve Bank of Chicago's fourth Payments Conference entitled, "An Electronic Supply Chain: Will Payments Follow?" will begin at noon on May 26 and conclude mid-day on May 27 at the Chicago Fed's conference center.
Park on Korea's bank supervisory arrangements
In a speech on 'Korea's experience in the choice of bank supervisory arrangements' given on 12 February, Dr Seung Park of the Bank of Korea said he thinks it is crucial that the supervisory agency be required to consult with the central bank before the…
Constancio warns on Portugal's public finances
Antonio Constancio, Governor of the Bank of Portugal, has warned that the country's public finances are in deep trouble and it will be difficult for the government to keep the deficit below the EU's 3 per cent limit.
Germany considers offloading 600 tons of gold
Ernst Welteke told a parliamentary committee on Wednesday 10 March that the Bundesbank wanted to sell 600 tons of gold over the next five years from its stock of 3,400 tons. But politicians said the funds should be used to cut debt, something the…
Padoa-Schioppa: Low eurozone growth not ECB fault
Tommaso Padoa-Schioppa said in an interview that low economic growth in the eurozone is not due to the ECB's current monetary policy, adding that interest rates are already low.
Balcerowicz plays down Polish early euro hopes
National Bank of Poland governor Leszek Balcerowicz said in an interview on Thursday 11 March that the country needed sounder finances before linking its currency to the euro.
CNB sets 2006 inflation target at 2-4% upto euro
The Czech National Bank (CNB) has decided to keep its inflation target between 2 % and 4 % for the period starting January 2006, according to a CNB spokeswoman.
RBNZ leaves rates unchanged at 5.25 per cent
The Reserve Bank of New Zealand decided to leave the Official Cash Rate unchanged at 5.25 per cent on 11 March. Alan Bollard said the overall CPI inflation rate has so far been offset by weak imported inflation due to the rising NZ dollar exchange rate.