Central Banking
Bank of Japan chief plans Beijing trip to PBOC
Bank of Japan chief Toshihiko Fukui will meet with the governor of the People's Bank of China Zhou Xiaochuan during a two-day visit to Beijing, according to AFX.
Belgium cb's shares fall ahead of court rule
The National Bank of Belgium's shares fell on Friday 24 October on fears that the country's Supreme Court would rule against the central bank in a case to decide ownership of the bank's assets, according to Reuters. An action group representing…
PBOC to take over anti-money laundering role
According to a new amendment draft of a major banking law, reports Asia Pulse, the People's Bank of China is likely to replace the Ministry of Public Security to organize the fight against money laundering. The central bank will also guide banks and…
Active policy can provide stability-Fed's Bernanke
Federal Reserve Governor Ben Bernanke said in a paper due to be delivered at a Dallas Fed conference on Friday 24 October that "The fact that the Federal Reserve and other central banks actively manipulate their instrument interest rates is not…
Caruana on Prices, productivity and growth
In a speech on 'Prices, productivity and growth' given on 17 October Jaime Caruana of the Bank of Spain said the Spanish economy, despite sharing some of the structural shortcomings present in Europe, has been more buoyant in recent years than the euro…
Bergo: The role of interest rate's in the economy
In a speech on 'The role of the interest rate in the economy' given on 19 October, Jarle Bergo of Norges Bank said low real interest rates will in the short term stimulate economic growth and contribute to preventing deflation. Keeping interest rates low…
Bank of Canada, Monetary Policy Report, Oct 2003
The Bank of Canada has released its Monetary Policy Report for October 2003. Since the April Report, the Canadian economy has been hit by a number of unusual shocks: SARS, BSE, the Ontario electricity blackout, and the severe forest fires in British…
Statement by David Dodge on Monetary Policy Report
The Governor of the Bank of Canada cautioned that there are still "significant" risks attached to the bank's outlook. "There is uncertainty both about the likely changes in key global exchange rates and their effect of the Canadian economy," David Dodge…
Dodge at the House of Commons Finance Committee
David Dodge told Canada's House of Commons Finance Committee on Wednesday 22 October that the prospects for near-term growth in the global economy have improved since April, and geopolitical uncertainty has continued to decrease. The economic picture in…
ECB's Wellink: Interest rates low enough
European Central Bank Governing Council Member Nout Wellink said on Thursday 23 October that interest rates are low enough to support economic recovery in the eurozone, according to Reuters.
Duisenberg optimistic for eurozone economy
Outgoing European Central Bank President Wim Duisenberg said on Thursday 23 October that he was "fairly optimistic" regarding the outlook for eurozone growth, according to AFP Things are going in the right direction, albeit slowly. I think that in Europe…
RBNZ leaves rates unchanged
The Reserve Bank of New Zealand left interest rates unchanged at 5 per cent on Thursday 23 October. "As noted in our September monetary policy statement, the New Zealand economy has been enjoying strong economic growth, with robust domestic demand…
High Court dismisses criminal case vs BSP officers
The Philippines Supreme Court has upheld the decision by the Office of the Ombudsman to dismiss the criminal complaint against central bank governor Rafael Buenaventura, according to a report by AFX The Court rejected the petition of former Urban Bank…
Central bank of Brazil cuts base rate to 19%
Brazil's central bank announced on Wednesday 22 October that it cut the Selic base rate to 19 per cent after its two-day meeting, reports AE Brazil. A Copom statement said that the cut was made because inflation is falling into line with targets.
Berlusconi calls for easing of the Stability Pact
Italian Prime Minister Silvio Berlusconi has, according to the EU Observer, said of the EU's Stability and Growth pact that "The 3 percent should not be taken as an absolute value beyond discussion and might be adjusted down by one or two percentage…
Greenspan to address Cato's Monetary Conference
Federal Reserve Chairman Alan Greenspan is scheduled to participate in the Cato Institute's 21st Annual Monetary Conference, "The Future of the Euro," at The Renaissance Hotel in Washington, D.C., on Nov. 20. Topics on the agenda include the impact of…
Uzbek central bank hosts convertibility seminar
The central bank of Uzbekistan, according to a report by Uzbek Television, has held a seminar at its Tashkent regional directorate to discuss further liberalization of the currency market and ensure the convertibility of the national currency, the som,…
Riksbank's Nyberg on Sweden in Europe
In a speech on 'Sweden in Europe' given on 18 October, Lars Nyberg of the Sveriges Riksbank said that according to the agreement of the heads of state and government during the Lisbon summit, the reforms should, for instance, aim to increase employment…
Duisenberg on Maastricht and the future of Europe
In a speech on 'Maastricht and the future of Europe' given on 22 October, Wim Duisenberg of the ECB said: "As a central banker, I would argue that the draft Constitution for Europe has incorporated the substance of the EMU chapters of the Maastricht…
Bank of England MPC Minutes 8/9 October 2003
Minutes of the Bank of England's Monetary Policy Committee Meeting were released on 22 October for the meeting of 8 and 9 October 2003. Deputy governor Andrew Large, executive director Paul Tucker and external MPC members Kate Barker and Stephen Nickell,…
Minutes show BoE came close to rate increase
Minutes from the Bank of England's October Monetary Policy Committee meeting published on Wednesday 22 October showed four of the nine members, including deputy governor Andrew Large, voted for an increase in interest rates, according to Reuters. The…
Chirac nominates Noyer as Bank of France president
French President Jacques Chirac nominated Christian Noyer on Wednesday 22 october as Jean-Claude Trichet's successor at the Bank of France, the Financial Times reports. Noyer, 53, is a former deputy governor of the European Central Bank.
Rwanda: Central bank to withdraw old bank notes
The Central Bank of Rwanda has decided to withdraw legal tender for old banknotes beginning December this year, according to The New Times. An official from the Central Bank said that new notes were already in circulation to replace old ones that had…
BI hands over money laundering authority to PTATK
Bank Indonesia has handed over the handling of suspicion transaction reports from banks to the PTATK in accordance with a new law, acording to a report by AFX Asia. The Financial Action Task Force on anti-money laundering had pressed for the new law to…