Central Banking staff
Follow Central Banking
Articles by Central Banking staff
ECB inflation above target for next 6 months
European Central Bank President Wim Duisenberg said on Thursday it could take six months for Eurozone inflation to fall back to the ECB's 2% goal.
Diusenberg says UK euro tests are irrevelant
European Central Bank chief Wim Duisenberg today dismissed Gordon Brown's five economic tests for joining the single currency as irrelevant and insisted that Britain would have to join the European exchange rate mechanism for two years before adopting…
El Salvador to use dollar as 'parallel currency'
El Salvador will allow the US dollar to circulate freely alongside its own currency in the new year under a monetary law sent to Congress by the president on Thursday.
BoT governor calls for more transparency in banks
Thai central bank governor Chatu Mongol Sonakul Thursday urged for more transparency and stricter supervision in the banking sector to help control the amount of non-performing loans in the system.
Intervention was to punish speculators -Duisenberg
European Central Bank President Wim Duisenberg said on Thursday recent ECB forays into foreign exchange markets were not aimed at pushing the euro to any level but at punishing those speculating against the currency.
Russian and Iranian central banks sign agreement
Today, the central banks of Russia and Iran signed a collaboration agreement. The agreement outlines cooperation between the banks in developing trade and economic cooperation between Russia and Iran.
HKMA Yam on the future of the financial industry
Joseph Yam, chief executive of the Hong Kong Monetary Authority, has written a number of articles in his regular column the HKMA website on the technological revolution now in full flood. In this week's column, he imagines what life might be like for the…
Costa Rica to maintain exchange rate policy
Costa Rica's central bank said on Thursday it would continue with mini-devaluations of its currency against the dollar, despite complaints that it makes local business less competitive.
Economists hit Malaysia's dollar peg
Malaysia should get rid of its currency peg to the dollar and fix the exchange rate to a trade-weighted basket of currencies instead, said several economists speaking at a conference in Kuala Lumpur.
Brussels raises Eurozone inflation forecast
The European Commission revised upwards its inflation forecasts for the euro-zone and said European economic growth, though relatively strong, was unlikely to equal US growth until 2002.
Mboweni says rand's fall due to external factors
The South African rand was pummelled Tuesday by external factors such as escalating tensions in the Middle East, dollar strength, the anticipated outcome of the US elections and a failure by the European Central Bank to intervene on behalf of the…
Indonesia regulators seek banking consolidation
Indonesia might close or merge more than 100 banks within three years in its battle to create a strong financial system, the Indonesian Bank Restructuring Agency said.
Fiji 2001 budget forecasts slow economic recovery
Fiji's post-coup government on Wednesday delivered its calendar 2001 budget, predicting a slow recovery in the South Pacific nation's economy which has been battered by a nationalist coup and failed military mutiny. The central bank has predicted that…
BOJ voted 8-1 to maintain policy on Oct 13-minutes
The Bank of Japan (BOJ) Policy Board voted 8-1 to maintain its policy of targeting the unsecured overnight call rate at 0.25 percent at a meeting on October 13, minutes from the meeting showed on Wednesday.
Wahid won't interfere with Bank Indonesia
Indonesian President Abdurrahman Wahid will not interfere in negotiations over changes to the law governing the central bank, his spokesman said on Wednesday.
Credit Suisse says RBNZ won't change cash rate
New Zealand's Reserve Bank is expected to leave the official cash rate unchanged early next month because of uncertainty about the country's medium-term inflation outlook, Credit Suisse First Boston (NZ) Ltd. said Wednesday.
Liquidity gridlock feared from Japan's RTGS launch
Japan's introduction of real time settlement for stock and bond transactions may expose banks and brokerages to a temporary liquidity gridlock that could force some to reduce yen-based operations, bankers said on Wednesday.
Russia central bank to develop smart card market
Sergei Mikhailov, deputy director of the information systems department of the central bank, has announced that the bank is interested in developing the smart card market.
UK's MPC voted 9-0 for unchanged rates in November
The Bank of England's monetary policy committee (MPC) voted unanimously for a second month running in November to leave interest rates unchanged at 6%.
New vice presidents suggested for Hungary cenbank
Hungarian daily newspaper Nepszava gave a list of the likely nominees for the post of new vice presidents at the National Bank of Hungary after the tenure of the current President Gyorgy Suranyi expires on March 1.
A$ bounces back from record lows
The Australian dollar bounced back from this week's record lows against the US dollar on Wednesday, buoyed by talk of central bank support in the options market.
Slovak central bank two day policy meeting
The board of the National Bank of Slovakia will hold a two-day meeting on current and 2001 monetary policy on Thursday and Friday, central bank spokesman Jan Onda said on Wednesday.
Italy MTS to adopt RTGS system soon
MTS SpA, Italy's secondary bond market operator, will soon adopt real-time gross settlement (RTGS) for bond operations to replace current end-of-day settlement, MTS deputy director general Ezio Dosa said on Wednesday.
Zdenek Tuma likely to become new CNB chief
Zdenek Tuma will become the head of the Czech National Bank, according to information published in today's daily press, replacing Josef Tosovsky who moves to the BIS Financial Stability Institute as of December 1.