Central Banking
Sri Lanka to introduce secure cheque clearance
Sri Lanka is to introduce a secure cheque clearance system before the end of this year to speed up banking services. A government spokesman, reported by the Sri Lanka Daily News, said the system would be an essential of the government's project to…
Canada's Jenkins on governance, markets, policy
In a speech on 'Corporate Governance, Capital Markets, and Canadian Monetary Policy' given on 27 October, Paul Jenkins of the Bank of Canada discusses recent efforts to improve the operation and the regulation of Canadian capital markets, in the wake of…
How will Trichet speak?
SPECIAL FEATURE - In a little over a week, as president of the European Central Bank, it will be up to Jean-Claude Trichet to explain European Central Bank policy. There are clear signs that he plans to change the way the ECB presents policy. Not only…
Fed's Bernanke on Friedman's monetary framework
In a speech on Milton Friedman's monetary framework given on 24 October, Ben Bernanke of the Federal Reserve said that one can hardly overstate the influence of Friedman's monetary framework on contemporary monetary theory and practice. He identified the…
RBA's Edey on current issues for global economy
In the speech 'Current Issues for the Global Economy' given on 27 October Malcolm Edey of the Reserve Bank of Australia said recent developments entitle us to be more confident about forecasts of ongoing recovery than was the case a few months ago. Some…
Koizumi aide raps BOJ for deflation failure
Former vice-minister for international affairs at Japan's finance ministry Haruhiko Kuroda on Sunday 26 October launched a strong attack on the Bank of Japan (BOJ) for failing to perform its legal duty of halting deflation, according to The Business…
Israel's Treasury and c bank rift intensifies
Bank of Israel governor David Klein has criticised Sunday's (26 October) cabinet approval for the establishment of a central bank advisory committee controlled by key business sector figures, according to the Jerusalme Post. Although the committee lacks…
Iraq a big factor: Fed's Greenspan at G20
Federal Reserve chairman Alan Greenspan said at the opening of a meeting of the Group of 20 nations in Mexico that the US economy is heavily influenced by the war in Iraq. according to a report by Reuters.
Finland proposes changes to ECB voting model
Finland has proposed a change to the ECB voting system that will be employed once the union expands next year, according to Helsingin Sanomat. The new system was agreed upon only last spring. In Finland's proposal, 15 members of the ECB Governing Council…
China central bank says stable yuan good for world
The People's Bank of China said on Monday 27 October that China will keep the yuan exchange rate stable, according to Reuters, as the fixed currency policy is good for its economy as well that of Asia and the rest of the world.
Bundesbank's Welteke: is US growth sustainable?
Bundesbank President Ernst Welteke said on Sunday 26 October, on the sidelines of the Mexico G20 meeting, that the world economy is in recovery but he questioned whether growth in one of its main drivers, the United States, was sustainable, Reuters…
UAE auditing office criticises central bank
The United Arab Emirates State Auditing Office has strongly criticised the central bank, according to Gulf News, accusing it of suffering unnecessary losses, failing to fully undertake its role as a government bank, and indulging in practices that…
Thai c bank says local banks ready for Basel II
Bank of Thailand Governor Pridiyathorn Devakula said on Monday 27 October, according to Dow Jones, that Thai commercial banks will be ready to adopt the new Basel II regulations on capital adequacy when they come into force end-2006.
Fed's Connolly on Preparing for Check 21
In a speech on 'Preparing for Check 21' given on 17 October, Paul Connolly of the Federal Reserve Bank of Boston said that the Check 21 legislation is intended to take some of the costs and delays of paper processing and transportation out of the check…
ECB's Solans on the international role of the euro
In a speech on 'An analysis of the international role of the euro: its impact on economic relations between Asia and Europe' given on 24 October, Eugenio Domingo Solans of the European Central Bank asked what has been the impact of the euro on economic…
Riksbank's Persson on Sweden's economic conditions
In a speech on 'Economic conditions and welfare in Sweden and the Nordic countries' given on 23 October, Kristina Persson of the Sveriges Riksbank said enlargement of the EU and the establishment of a common labour market around the Baltic could perhaps…
Sveriges Riksbank Inflation Report, No.3, 2003
Sweden's central bank, the Sveriges Riksbank, has published its Third Inflation Report for 2003. All in all, the Riksbank's assessment is that there is a risk that international economic activity will lead to lower inflation than in the main scenario…
David Dodge on risks to economic outlook
Bank of Canada Governor David Dodge told the Senate Banking, Trade and Commerce Committee on Thursday that significant risks exist to the economic outlook. These risks relate to the timing and magnitude of adjustments to global economic imbalances. In…
MasterCard battles RBA over fees
MasterCard has begun legal action against the Reserve bank of Australia regarding the level of the company's interchange fees, reports the Australian Financial review. The RBA wants to bring MasterCard's interchange fee of 58 cents per $100 transaction…
Slovenia establishes anti-counterfeiting agency
The Bank of Slovenia's board of governors has adopted new short-term guidelines for the central bank's monetary policy, according to a report by the STA news agency. The board took a decision to establish a national agency that would fight money…
ECB member urges business to cope with strong euro
ECB board member Matti Vanhala, according to a Bloomberg report, appeared to suggest on Thursday 23 October that the bank was not concerned about the euro's increase, saying that companies would have to cope with the currency's appreciation.
Forged currency centre idea for Bulgaria's c bank
Bulgaria is preparing to establish a centre to carry out analyses of all forged money seized in Bulgaria, according to the Sofia Morning News. Legislative changes will have to be made for setting up the centre, which will analyse Bulgarian levs, euros…
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…