Central Banking
Crockett honoured
Andrew Crockett always did have one of those names that look as if it is just waiting to have a "sir" in front of it. Now the space has been duly filled as the former central banker and general manager of the BIS received a knighthood from the Queen of…
Iraq to get central bank - free from interference
Iraq will soon have an independent central bank for the first time, free from political interference the New York Times reports.
Central banker and football fan
Mervyn King, the new governor of the Bank of England is a well-known supporter of Aston Villa, the English football club. In fact, until recently King was senior vice-president of the club.
Bundesbank- German deficit may make ECB job harder
Bundesbank Chief Economist Hermann Remsperger said in an interview a third breach in as many years by Germany "would further damage the credibility of Europe's stability and growth pact, which would ultimately make a stability-oriented monetary policy…
New Iraq banknotes will replace 'Saddam dinar'
The US-led coalition authority in Iraq plans to print and circulate new Iraqi dinars later this year. The new notes will be swapped for both the "Saddam dinar", which circulates in most of the country, and the older, so-called "Swiss dinar", which is…
Greenspan to deliver monetary testimony 15 July
The US House Financial Services Committee has announced Federal Reserve Chairman Alan Greenspan will testify before the committee on 15 July.
Putin signs law to lower dollar sale requirement
Under a new amendment to the law on currency regulation and control in Russia, the amount of mandatory dollar revenue sales has been cut from 50 per cent to 30 per cent.
Bank of Estonia's Ross to take up IMF role
The head of the Bank of Estonia's division for international and public relations Tanel Ross is to become adviser to the director of the Nordic-Baltic Constituency of the International Monetary Fund (IMF) in August.
Union: Trichet to take over ECB presidency, 1 Nov
Bank of France Governor Jean-Claude Trichet will replace Wim Duisenberg at the head of European Central Bank on Nov. 1, Agence France-Presse reported, citing Jean-Marie Roux, a union member at the French central bank.
Monday Special - Basel's Banking Behemoth
The BIS is most commonly understood to serve as a forum for central bankers and financial regulators to meet and discuss how to keep the world's financial system on the rails. Its role as a bank is often overlooked. The BIS's balance sheet is large…
Mboweni may be ready to serve again, if he's asked
South African Reserve Bank governor Tito Mboweni denied in an interview that he had described himself as a one term governor, saying he would consider the issue of serving a second term at the SARB next year, Bloomberg reported.
Bulgaria c bank-Report warns on political decision
A report published Monday highlights the possibility of a politically motivated choice of the next governor of Bulgaria's national bank as a key risk, Novinite reported. "Bulgaria: Beyond the Facts" warns the decision may put at risk the independence of…
BOJ's Fukui affirms vow to keep rates near to zero
Bank of Japan Governor Toshihiko Fukui has said the BOJ will continue to keep interest rates close to zero until consumer prices become positive, Bloomberg reported. The comment comes after bond yields more than doubled since June 11 as hopes for an…
CBN rules out virtual banks in Nigeria
In its Draft Guidelines on Electronic Banking, the central bank of Nigeria has said that all banks in Nigeria must not only be fully licensed, they must also have a physical presence in Nigeria, adding that "virtual banks or banks that exist only in…
Bundesbank doubts German growth forecasts
Bundesbank official Hans Reckers said in an interview published Sunday that German government growth forecasts of 2% are 'much too optimistic'. He suggested a growth rate of 1% to 1.5% for 2004 would be more realistic, RTE News said.
RBA's McKibbin confident growth will continue
Reserve Bank of Australia board member Warwick McKibbin said in an interview a lot of other countries are looking to Australia for lessons on why we are doing so well. He also suggested that Australia will keep growing at close to 3.7 per cent, Bloomberg…
Article asks Is BOT too focused on the short term?
An article in The Nation asks whether the Bank of Thailand is focussing too much on the short term and risking the ability to tackle possible problems with economic fundamentals later on in its foreign exchange-rate management.
Riksbank's Bergstrom says rates may ease more
Riksbank board member Willy Bergstrom to ld Reuters Sunday that the Swedish central bank may make further interest rate reductions, despite easing in both June and July.
BSP given full authority to probe bank accounts
The Philippines newly revised Anti-Money Laundering Act returns the central bank's authority to inquire into any bank deposit. The Bangko Sentral ng Pilipinas lost this power a decade ago under the 1993 Central Bank Act.
Topping on Basel II : Implications for Hong Kong
In the speech 'Basel II : Implications for Hong Kong' Simon Topping of the Hong Kong Monetary Authority said Basel II is not some abstract regulatory compliance issue of no real value to the banking industry. On the contrary, it's based very much on…
IMF's Krueger on supply, demand & deadlines
In the speech 'Supply, Demand & Deadlines: A Workshop on Economics for Journalists' Anne Krueger of the IMF said economics is important-and so is reporting economics well. The IMF's role-acting alongside the World Bank, the UN, and national governments…
Triennial central bank survey of for ex activity
In April and June 2004, the G10 central banks will carry out their regular global survey of foreign exchange and derivatives market activity coordinated by the BIS. The survey was last conducted in April and June 2001. An increased number of 54 central…
Uzbekistan action plan on currency convertibility
The government of Uzbekistan has made a pledge to introduce the long-awaited convertibility of the national currency, setting late November as the deadline for this move. An action plan developed by the Uzbek government aims to remove all restrictions on…
Sweden's Riksbank cuts repo rate by 0.25 percent
The Sveriges Riksbank announced on 4 July that it decided to lower the repo rate from 3.0 per cent to 2.75 per cent. In a press release the Bank said inflation has recently been slightly lower than expected, while both domestic and imported prices have…