Central Banking
Backstrom moves to life-insurance role
Former governor of the Sveriges Riksbank, Urban Backstrom, has been appointed president and chief executive officer of Skandia Liv. Backstrom said he would work to restore policyholders confidence and takes a fixed salary of 3.3 million kronor in the…
BoC's Dodge on economic education
In the speech 'On Economic Education' given on 3 November David Dodge of the Bank of Canada said given the importance we attach to improving economic and financial literacy in Canada, we will continue to develop educational programs and materials for…
Tumpel-Gugerell: Welcoming the new Member States
In the speech 'Welcoming the new Member States' given on 3 November Gertrude Tumpel-Gugerell of the ECB said that the first few years of enlargement will be formative years for the European Union and for its Member States. By completing the accession…
Issing on monetary policy in uncharted territory
In the speech 'Monetary policy in uncharted territory' given on 3 November Otmar Issing of the ECB said theoretical insights and central banking experience are both fundamental components of good monetary policy making, but especially so at the time of…
Dodge Ball: Business elite fete governor
Bank of Canada governor David Dodge was honoured on Monday evening when close to 1,000 people paid tribute to his three decades of public service at a fundraising dinner, Canadian Press reported.
Greenspan 6 Nov speech to discuss U.S. economy
Alan Greenspan will speak on Thursday, Reuters said, in his first extensive remarks since mid-July when he testified before Congress. The Federal Reserve chairman may also face questions on the U.S. economic recovery on Wednesday when he appears before…
ECB chief Trichet stands by 'credible' euro
In his first public comments since becoming president of the European Central Bank Jean-Claude Trichet said Monday there is a need to deliver a confidence inspiring and credible single currency, AFP reported. He said Duisenberg's legacy would be…
House of Lords Peers urge reform of ECB
The UK's House of Lords select committee on the European Union says governments of the member states should look at a shake-up of the European Central Bank to enhance transparency and understanding of the ECB's actions. They called for the ECB to adopt a…
IMF urges reform over EU enlargement
The managing director of the IMF, Horst Koehler, told the annual East-West conference on economic transition that if EU enlargement was to succeed, the large budget imbalances in central European countries must be addressed. He also said he thought that…
Hungarian Fin Min backs central bank intervention
The National Bank of Hungary's decision to intervene in the markets and buy bonds has been supported by the Finance Minister Csaba Laszlo. The minister shared the central banks view that there was no reason for the significant weakening in the forint…
Issing says ECB has found M3 analysis difficult
Speaking on Monday the ECB's chief economist Otmar Issing said that it has been difficult for the ECB to analyse M3 because of a series of temporary shocks, AFX reported. Changes in reserve requirements at the start of EMU, statistical distortions and…
Bundesbank to save 280m euros a year with job cuts
Planned job cuts by the Deutsche Bundesbank will result in savings of 280m euros a year from 2008 onwards, according to Georg Fabritius the head of the central bank. If the planned savings are achieved, the bank's profits will increase, which will…
CentralBankNet on inflation targeting
SPECIAL FEATURE - Addressing a recent St Louis Fed conference, Fed Governor Ben Bernanke got straight to the point. He began his speech by asking: "Should the Federal Reserve announce a quantitative inflation objective". Below is CentralBanknet's guide…
Change of Presidency of the European Central Bank
Jean-Claude Trichet began his eight-year term as President of the European Central Bank on 1 November.
Fukui on the current state of the Japanese economy
In a speech given on 1 October, Toshihiko Fukui of the Bank of Japan said that although it is unprecedented for the central bank to purchase asset-backed securities in that it directly accepts the credit risk pertaining to private-sector debt, the bank…
SARB's Mboweni on African economic integration
In a speech on 'African economic integration' given on 9 October, Tito Mboweni of the South African Reserve Bank said that there is little doubt that there have been major changes in economic policy in many African countries in the recent past. Many of…
RBA interchange fees for credit cards lowered
The Reserve Bank of Australia said on 31 October that Bankcard, MasterCard and Visa credit card schemes have introduced lower interchange fees for credit card transactions in Australia.
FSAP in New Zealand
Officials from the International Monetary Fund (IMF) are now in New Zealand undertaking a previously announced Financial Sector Assessment Programme, the Reserve Bank of New Zealand said on 31 October.
Bank of Greece sets sights on fake euro problem
The Bank of Greece is preparing a public awareness campaign regarding the perils of counterfeit euro notes, according to a report by Kathimerini. The recent discovery of fake 200-euro notes in Greece caused the authorities to focus on high denominations.
Venezuela eases its currency controls
Venezuelan President Hugo Chavez has eased restrictions on credit card use that were imposed to shore up the economy during a two-month general strike called by his opponents, according Associated Press.
IMF praises Brazil's economy
The central bank of Brazil has said that the country amply met the targets agreed with the International Monetary Fund, according to Merco Press. The primary surplus in the first three quarters of 2003 reached just over 20 billion US dollars compared to…
DNB chief Wellink sorry over euro inflation
The president of the Dutch central bank, Nout Wellink, has apologised for not warning that prices would rise as a result of the introduction of the euro, according to expatica. "We didn't do it very well," Wellink told a meeting in The Hague.
European Central Bank has new chief
Jean-Claude Trichet began his Presidency of the European Central Bank with a congratulatory address at a commemorative ceremony marking the 75th anniversary of the Bank of Greece in Athens on Monday, reports United Press International.
G7 and ECB Central Bankers' Salaries
This article published by Reuters looks in-depth at the salaries of G7 central bank heads, Federal Reserve Board Governors, ECB President, Vice-President and Executive Board Members. It reveals, among other things, that the Governor of the Bank of France…