Central Banking
RBI dep governor: forex reserves 'not in plenty'
India's foreign exchange reserves, at over $109 billion, are not in plenty, the RBI Deputy Governor, Ms K J Udeshi, said on Friday 19 March.
OECD says ECB and Fed will raise rates in 04
The Fed and the European Central Bank are likely to start nudging interest rates higher this year, but in historical terms rates will remain low, an OECD report says.
Hanke urges Bulgaria break from IMF
Professor Steve Hanke has strongly recommended that Bulgaria follow Moscow's example and end its relationship with the International Monetary Fund.
Philippines bank bailouts up to P31bn in 2003
The Bangko Sentral ng Pilipinas could have spent at least P31 billion in 2003 in bailing out banks. Data showed that emergency loans and other advances extended by the BSP amounted to P130.44 billion, up from the P113 billion it reported in 2000.
BOJ governor Fukui's first year
Toshihiko Fukui completed his first year as governor of the Bank of Japan on Saturday 20 March. This article looks at Fukui's first year as governor of the BOJ and says he has made a difference in dealing with the government and the ruling parties…
Ticking clock sees RBNZ evacuated
The Reserve Bank of New Zealand was evacuated on Thursday 18 March after a ticking parcel was found on the 10th floor of the building in Wellington.
Paint thrown at World Bank president
Anti-globalisation activists pelted World Bank chief James Wolfensohn and Slovenia's finance minister with green paint on Thursday.
Serbia moves on central bank voting scam
Serbia's state prosecutors have ordered an investigation of a member of parliament on suspicion of abuse of another MP's electronic voting card in the election of national bank governor Kori Udovicki.
Former CBI governor's death commemorated
A commemoration ceremony was held in memory of the late Mohsen Nurbakhsh, the former head of Central Bank of Iran (CBI) last Saturday, 13 March.
Poland may replace three board members
Reports say that National Bank of Poland governor Leszek Balcerowicz will soon replace three members of the management board of the NBP, Jerzy Stopyra and Andrzej Bratkowski, while the third name is still unknown.
Court hears Eddie George was misled over BCCI
The court case into the collapse of the BCCI in London heard this week that former Bank of England governor Eddie George was misled by a senior official at the Bank.
France 'won't back Rato's IMF candidacy'
Outgoing Spanish Economy Minister Rodrigo Rato emerged as a leading European candidate to head the IMF this week, but his chances of getting the nod were later thrown into doubt following comments attributed to Jacques Chirac.
RBI staff 'are grossly underpaid'
The Reserve Bank of India's Officers Association (RBIOA) has demanded that pay be linked to other central banks, saying a tiger must be compared with a tiger.
Brash unimpressed with RBNZ's plans
Former RBNZ chief Don Brash said this week that while the high value of the New Zealand dollar was hurting the economy, any attempt to intervene would be fraught with risk.
BoE's Tucker on financial markets dialogue
In a speech to the National Association of Pension Funds given on 19 March Paul Tucker of the Bank of England said that with interest rates at 4%, monetary policy is still "stimulating the economy". He comments, "If, as projected, output continues to…
Taiwan markets jittery after President shot
Taiwan markets were nervous on Friday 19 March after President Chen Shui-bian survived an assassination attempt on the eve of a presidential election. The central bank said it would intervene to stabilise the currency where necessary.
Minutes show Fed wanted increased flexibility
The FOMC was unanimous at their January meeting that they should ditch a pledge to keep interest rates low for "a considerable period" in favour of wording that would increase their flexibility, minutes showed Thursday.
Norway's Gjedrem on monetary policy & economics
In a speech on 'Monetary policy and the economic outlook' given on 19 March, Svein Gjedrem of Norges Bank said that the upturn has both broadened out and gained momentum in the past months. All sectors report stable or increasing demand and sales. The…
Philadelphia Fed Business Outlook Survey, Mar 2004
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, March 2004 activity in the region's manufacturing sector continues to improve.
GCC plans economic coordination monetary fund
The Gulf Cooperation Council (GCC) is considering creating a monetary fund to coordinate economic and fiscal policies between member states and ensure the success of the planned monetary union, it was reported on Friday 19 March .
Japanese Fin Min praises Fukui's first year
Japan's Finance Minister Sadakazu Tanigaki said on Friday 19 March that Bank of Japan Governor Toshihiko Fukui acted "appropriately and boldly" in his first year as head of the central bank.
Brazil to pursue 5.5% inflation target: Meirelles
Brazil's Central Bank President Henrique Meirelles said on Friday 19 March that he will continue to pursue a 5.5% inflation target "to guarantee growth of 3.5% or more" this year.
Uzbek central bank denies currency reform
First Deputy Chairman of the Uzbek central bank Muhammad Jumageldiyev has dismissed rumours that Uzbekistan is planning to replace its existing currency denominations.
Kenya's former governor accused as party to theft
The Goldenberg inquiry has heard former Central Bank of Kenya Governor, Eric Kotut conspired with banks to defraud the bank of a massive US$247.9 million (Sh9.7 billion) in April 1993.