Central Banking
Norway's Gjedrem on inflation targeting
In a speech on 'Flexible inflation targeting' given on 29 March, Svein Gjedrem of Norges Bank said external cyclical developments and events have had considerable implications for developments in the Norwegian economy.
New Venezuelan law targets central bank reserves
President Hugo Chavez of Venezuela said on Sunday 28 March that his government was drafting a new law to force the country's independent central bank to release international reserves to finance government projects.
Japan says will continue currency intervention
Japan's Ministry of Finance (MOF) said on Monday 29 March that it would continue its foreign exchange intervention, brushing aside a British newspaper report that Tokyo would finish its massive intervention into the currency market.
Bank of England's Nickell sees rapidly rising debt
Bank of England Monetary Policy Committee member Stephen Nickell said on Monday 29 March that most UK borrowers can afford the burden of "rapidly" growing mortgage debt, signalling it may see room for higher interest rates.
Snow tells PBOC governor to scrap peg
U.S. Treasury Secretary John Snow told People's Bank of China Governor Zhou Xiaochuan on Friday 26 March that China needs to scrap its dollar-pegged foreign exchange system and float the yuan.
Solbes: Eurozone recovery slowly moving ahead
EU economic commissioner Pedro Solbes said on Monday 29 March that recovery in the eurozone is "slowly gaining momentum" but the euro's rally and depressed consumer confidence are brakes on growth.
Abu Dhabi to host hawala conference in April
The United Arab Emirates central bank will hold the Second International Conference on hawala in Abu Dhabi on 3rd & 4th April, 2004.
RBNZ Head of Operations appointed
The Reserve Bank of New Zealand announced on Wednesday March 24 the appointment of Dr Don Abel as the Bank's Assistant Governor and Head of Operations.
Central bankers get new home in Mauritius
The Bank of Mauritius has awarded a contract for the construction of a new multi-storey headquarters in Port Louis.
Poland's NBP confirms management changes
Leszek Balcerowicz, president of the National Bank of Poland, confirmed a number of changes to the central bank's management this week.
'Mr Euro' quits EU for Spanish fin min job
Pedro Solbes, a staunch defender of the eurozone's stability and growth pact, is stepping down as European economic and monetary affairs commissioner on 11 April to take up the post of finance minister in Spain's incoming Socialist government.
Central bank communication Philippines style
With elections fast approaching in the Philippines, campaigners are using SMS text messaging to drum up support. But reports say central bank governor Rafael Buenaventura is also a fan of texting.
Japan's funny money
The Bank of Japan's recent high-profile presence in the foreign exchange market has attracted enough popular interest to become the latest topic in Golgo 13, a series in the Big Comic magazine targeted at Japanese salarymen.
Spain's Paramo gets ECB green light
Eurozone finance ministers decided on Thursday March 25 to propose Spain's Jose Manuel Gonzalez-Paramo to the European Central Bank's Executive Board.
Fed's Kohn on monetary policy
In a speech on 'Monetary Policy in a Time of Macroeconomic Transition' given on 25 March, Donald Kohn of the Federal Reserve said the Fed should make sure inflation has stabilised and labour market slack is easing before raising interest rates from their…
BoE's Nickell on European unemployment
In a speech 'A Picture of European Unemployment: Success and Failure' given on 26 March, Stephen Nickell of the Bank of England said average unemployment in Europe today is relatively high compared with OECD countries outside Europe. The majority of…
Central bank financial independence
This Bank of Spain Occasional Paper says that central bank independence is a multifaceted institutional design but the financial component has rarely been analysed. The paper sets out a comprehensive conceptual background for central bank financial…
Belgium's Praet calls for transparent selection
Belgian National Bank official Peter Praet, Belgium's unsuccessful candidate for the ECB said on Thursday 25 March that the process for selecting members of the ECB's executive board must be made more transparent.
Ghana to be HQ for West African central bank
The headquarters of the West African Central Bank (WACB) has been given to Ghana. The disclosures were made in Abuja Thursday by the Director of West African Monetary Institute (WAMI), the Nigerian-born Dr Michael Ojo, reports said.
RBI starts live operation of RTGS system
After a two-month trial, the Reserve Bank of India on Friday 26 March began live operations of the Real Time Gross Settlement (RTGS) system but only inter-bank transactions are being put through.
ECB remains vigilent but expects recovery
ECB executive board member Gertrude Tumpel-Gugerell said in an interview Friday that the ECB still believes the eurozone economy will recover, but remains vigilant for any issues that could change that assessment.
Riksbank Bergstrom: Scope for easier policy
Deputy Governor of the Sveriges Riksbank Villy Bergstrom said in a speech on Friday 26 March that the latest Swedish economic data show that there is "some scope" to ease monetary policy further.
BOJ's Fukuma says Japan headed for recovery
The Japanese economy appears headed toward a stable recovery, a Bank of Japan policy board member said on Thursday 25 March, as the strong export-led rebound continues.
Monti in as candidate for IMF
EU competition commissioner Mario Monti has been put forward as a possible candidate to head the International Monetary Fund, according to a report.