News
Cleveland Fed president optimistic on economy
Sandra J. Pianalto, president of the Cleveland Fed, said Tuesday that jobs will be created with innovations in technology and there are many positive signs in the US economy.
Bank of France's Noyer cautions on euro volatility
Christian Noyer the new governor of the Bank of France warned on Wednesday that "excess" currency volatility was not good for economic growth, and that European monetary authorities needed to promote stability.
IMF reports no exact cause to rand collapse
IMF economists have concluded that no clear answer existed for the rapid depreciation of the South African rand between September and December of 2001.
Greenspan to testify on U.S. economy, 11 Feb
Fed Chairman Alan Greenspan will testify on the Federal Reserve's semiannual report on monetary policy to the U.S. House Financial Services Committee on 11 February, the panel said on Wednesday.
Federal Reserve Board launches Fiscal Impact Tool
The Federal Reserve Board on Monday 12 January announced the launch of a new informational resource designed to help community economic developers evaluate development proposals.
National Bank of Azerbaijan awards audit contract
The National Bank of Azerbaijan has declared Deloitte & Touche the winner in a tender to appoint an auditor for the bank for 2003.
Political noise slows growth- Peru c bank
Peru's central bank president, Javier Silva Ruete, said that the political turbulence shaking the government of Peruvian President Alejandro Toledo is hurting economic growth and could scare off future investment.
Adobe Systems to use anti-counterfeit measures
Adobe Systems Inc. has acknowledged that it has added technology to its graphics software at the request of government regulators and international bankers to prevent copies of bank notes being made.
IMF review of Argentina deal complete- gov't
The Argentine government has said that the IMF has completed the delayed first review of Argentina's $12.55 billion loan accord.
Bank of England faces criticism in BCCI case
The billion-pound law suit against the Bank of England over its part in the world's biggest banking fraud began on Tuesday 13 January with criticism of the 300-year-old central bank.
IMF on Argentina: 'progress has been made'
IMF Managing Director Horst Kohler said on 9 January that he is to recommend to the Executive Board the Letter of Intent of the authorities for the First Review of the Stand-By Arrangement with Argentina.
EU to take court action over budget rules
The European Union's head office decided on Tuesday 13 January to take finance ministers to court for letting Germany and France off the hook for violating euro budget rules. An EU spokesman said the move to vary the rules "was not the appropriate…
Germany's dwindling share of the euro
Following a redistribution of the European Central Bank's share capital, the Bundesbank now owns only 23.4% of the ECB. According to CentralBankNet's calculations this dwindling shareholding means a loss of seigniorage income of about €60-70m each year…
BoJ may ease rules on asset-backed securities
Proposed rule changes to the Bank of Japan's asset-backed securities purchase will be on the agenda for discussion when the BoJ Policy Board convenes on Jan 19-20.
German central banker calm over euro strength
A senior member of the Bundesbank has played down warnings from business leaders and politicians that the strength of the euro's exchange rate is hurting economic recovery.
'Brutal' FX moves unwelcome - Trichet
Group of 10 Chairman Jean-Claude Trichet said on Monday 12 January that Europe views volatile and brutal currency movements as unwelcome; however, the subject of foreign exchange did not predominate as the world's top central bankers discussed building…
Pakistan to bring in new bank monitoring system
The State Bank of Pakistan said on 9 January that it is to introduce a new system of surveillance, monitoring and supervision of banks.
Korea considering revaluation, W100,000 notes
Bank of Korea Governor Park Seung said on Sunday 11 January that after the general election in April, the central bank would propose a currency revaluation, and also issue W100,000-bills.
Bank of England court case set to begin
The Bank of England will go to court for the first time in its 300-year history on Tuesday 13 January when it defends its role in the £10bn collapse of the Bank of Credit & Commerce International.
Legal action likely over budget rules fudge
The European Commission is expected to back legal action on Tuesday 13 January against last November's decision by eurozone finance ministers to suspend the single currency's budget rules in the case of France and Germany.
ECB press conference with questions and answers
Speaking on Thursday 8 January, ECB president Jean-Claude Trichet said that available indicators point to an ongoing economic recovery in the euro area and that the assessment has not fundamentally changed but he said the ECB did not like excess…
Noyer-ECB policy offers best conditions for growth
Christian Noyer, governor of the Bank of France, said on Friday 9 January that the ECB would not give in to external pressure on its strategy and that current monetary conditions in the eurozone offered the best possibilities for growth.
Inflation falls within central bank target- Mexico
A modest rise in inflation in December took the annual rate to 3.98%, just under the central bank's target of a 2 to 4 per cent target range for 2003.
Kansas Fed's Hoenig optimistic on 2004 growth
Kansas Fed President Thomas Hoenig said on Thursday 8 January that he expects robust and sustainable growth for the new year which should help improve employment levels.