Central Banking
Bank of Japan statement on securities purchase
Examination of Possible Purchase of Asset-Backed Securities by the Bank of Japan, 8 April.
EC report casts doubt on eurozone benefits
The European Commission's spring forecast published on Tuesday 8 April said growth rates in euro member countries was lower than for EU members outside the single currency, the Financial Times reported.
Nickell on poverty and worklessness in Britain
In a speech on 'Poverty and Worklessness in Britain' Stephen Nickell of the Bank of England said the economic forces underlying the increase in poverty in the UK are the significant shift in demand against the unskilled which has outpaced the shift in…
Strengthening of the US financial system
A Regulators Issue Interagency Paper on Sound Practices to Strengthen the Resilience of the U.S. Financial System was published on 8 April. The paper identified sound practices to strengthen the resilience of critical U.S. financial markets.
Budget: UK euro decision date set for June
In his annual budget address on Wednesday 9 April UK chancellor Gordon Brown said that the decision on whether Britain had passed the five euro entry tests would be made public by the first week of June, according to Reuters. He also praised the Bank of…
Hamalainen on the euro: making progress
In a speech on 'The euro: making progress' Sirkka Hamalainen of the European Central Bank said the euro has lived up to expectations and has delivered the internal price and financial stability that it was supposed to. On the indirect effects of the euro…
Bank of Canada appoints Jenkins
The Bank of Canada announced the appointment of Paul Jenkins as Senior Deputy Governor in a press release, 9 April.
CentralBankNet Monday Special Feature
SPECIAL FEATURE - CentralBankNet presents an exclusive interview with Grigori Marchenko, Chairman of the National Bank of Kazakhstan. Mr Marchenko discusses with CentralBankNet the current issues affecting the central bank, including the crisis in Iraq,…
Greenspan on market economies and rule of law
In a speech on 'Market Economies and Rule of Law' Alan Greenspan of the Federal Reserve said as the fruits of ever-changing technology play an increasing role in the U.S. economy, the US must strike the right balance in developing legal protections for…
Paul Jenkins on Canada and the global economy
In a speech on 'Canada and the Global Economy: Trends in Asia and Elsewhere' Paul Jenkins of the Bank of Canada said monetary policy remained stimulative, despite four rate hikes over the last year. "Thus, over time, further reductions in monetary…
Bollard on financial sector corporate governance
In a speech on 'Corporate Governance in the Financial Sector' Alan Bollard of the Reserve Bank of New Zealand outlined the internationally distinctive way in which the Reserve Bank supervises banks in New Zealand and emphasised that the Reserve Bank…
IMF Managing Director Issues Statement on Turkey
Turkey has finally fulfilled the conditions for obtaining its latest loan tranche from the IMF. The letter of intent sets out further reforms aimed at fixing shaky public finances and transforming the state dominated economy into a free market system.
Guess who's coming for dinars?
An article from Bloomberg News says that the Iraqi dinar is in great demand and that coalition success in the war is likely to boost its value considerably. Apparently investors are snapping up the Saddam Hussein decorated notes, with one Pakistan based…
Venezuela c bank rejects interest rate demands
Demands from President Hugo Chavez that the central bank of Venezuela reduce interest rates have been rejected, reported Associated Press. A director at the bank said pressure to impose rates would be resisted.
Iraqi central bank looted by residents
A report from Associated Press on the war in Iraq contained details of what was described as looting at the central bank in Baghdad. The looting apparently included the removal of carpets, chairs and other fixtures from the Bank.
ECB chief to stay on while successor found
The weekend meeting of Ecofin in Athens agreed a deal whereby ECB president Wim Duisenberg will stay on until a successor can be named, according to a Reuters report. "I will be president of the European Central Bank up until the day that my duly…
Architects compete to design new ECB premises
The ECB has selected 80 architects to submit a design for the bank's new premises. The design must meet "the requirements of a modern central bank in the 21st century serving an enlarged euro area".
Cuban cb wants cooperation with Iran cb
In a meeting with the Iranian Ambassador to Havana on Friday, president of the central bank of Cuba Francisco Valdez expressed his interest in banking cooperation and the exchange of professional expertise with the Central Bank of Iran, according to an…
CBN seeks restriction on lending to government
Nigeria's central bank is supporting a Bill which would place further limits on government borrowing from the central bank. According to the Daily Times of Nigeria, CBN Governor Joseph Sanusi said fiscal prudence was vital for the effective conduct of…
Southern African DC officials meet in Angola
Measures aimed at fighting money laundering were due to be discussed at the Southern African Development Community's meeting in Angola. Central Bank governors will also approve a memorandum on the coordination of exchange control policies in the SADC…
Report says Irish gov't may switch to e-payments
A report commissioned by the Irish government recommends a move to e-payments which could save €200 million a year. However, according to the Sunday Times, the report highlighted a number of problems which must be overcome before the change can take…
Government supports Brazil cb autonomy
A vote in Brazil's parliament cleared the way for a move towards autonomy for the central bank after overwhelming support from legislators, according to a report in the Financial Times. The lower house of congress voted by 442 to 13 for a constitutional…
Russian forex reserves reach another record high
Russian central bank reserves rose to a new record high last week, according to the ITAR-TASS news agency, taking the total increase to nearly sixteen percent since January.
Polish euro entry may be hampered by reserves
Poland's finance minister said on Wednesday 2 April that if the central bank refuses to release the revaluation reserve it will entry to the euro difficult for Poland in 2007, according to the PAP news agency.