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World Bank to borrow gold
UK - The World Bank is set to issue its first gold bond, according to informed sources in London. The bond is aimed to attract investment from central banks, notably in emerging markets. The agents are Goldman Sachs/J. Aron, the big US investment bank (J…
Chile cen bank intervenes to prop up peso
CHILE - The Chilean Central Bank intervened in the currency market today, 31 August, selling millions of dollars to defend the peso for the second time this week, traders said.
Stanley Fischer - Farewell Dinner Speech
SPEECH - A speech by Stanley Fischer, First Deputy Managing Director, International Monetary Fund on 29 August. Stanley Fischer is leaving the IMF after seven years.
Philippines faces money laundering law deadline
PHILIPPINES - The Philippines will ask an international agency fighting money laundering to delay its sanctions if Manila fails to pass a law against laundering by a September 30 deadline.
BIS for ex head says gold lending is well ordered
EUROPE - Giacomo Panizzutti, head of foreign exchange at BIS, told The Alchemist quarterly this week that gold lending by the 15 European central bank signatories of a 1999 Washington accord "was 2,119.32 tonnes and, in accordance with the agreement, has…
Fed says coupon pass added $642 million reserves
UNITED STATES - The Federal Reserve said on 30 August it added $642 million permanent banking reserves through its purchase of U.S. Treasury securities dated Nov. 15, 2008 through Feb. 15, 2021, for delivery today, 31 August.
Shiokawa hints at currency intervention
JAPAN - Finance Minister Masajuro Shiokawa suggested today, 31 August, that the government might intervene in the currency market to halt the appreciation of the yen.
EU commission worries over euro
EUROPE - European monetary affairs commissioner Pedro Solbes Mira has admitted his concerns about the introduction of the new currency.
Japanese prices spiral downwards
JAPAN - Japan's economic gloom has deepened further with news that consumer prices fell in July for the 22nd straight month.
Online training to fight money laundering
UK - A new online training programme is being launched to try and prevent money laundering in the UK.
IMF seeks to monitor Japan bank system
JAPAN - The International Monetary Fund has asked Japan for permission to send inspectors to monitor the country's banking system, in the latest sign of mounting worries about the Asian economic power's stability.
CEPR - Monitoring the European Central Bank (MECB)
RESEARCH - New research from the Centre for Economic Policy Research. The authors of the latest MECB Update argue that the ECB should only cut interest rates when falling growth prospects will be accompanied by an unambiguous decline in inflation…
Forecasting recessions using the yield curve
RESEARCH - A staff report by Marcelle Chauvet and Simon Potter of the Federal Reserve Bank of New York, August 2001.
Regulators to order banks to publicly reveal more
PHILIPPINES - The Bangko Sentral ng Pilipinas (BSP) will soon implement stricter disclosure requirements for banks as part of its thrust to promote greater transparency in the industry.
Polish c bank urges speedy public finance reform
POLAND - Poland's outgoing deputy central bank head Richard Kokoszczynski on 28 August urged the government to reform public finances quickly or face disgruntled capital markets and possible delays in European Union (EU) accession.
Lithuanian c bank to set 2002-2004 guidelines
LITHUANIA - Lithuania's central bank said its board will discuss on 30 August its action plan for the next three years, but the document will not affect exchange rate policy.
Hayami - Absolutely wrong to say BOJ OKs deflation
JAPAN - Bank of Japan Governor Masaru Hayami 29 August shot down suggestions the central bank is tolerating Japan's severe deflationary environment, Kyodo News reported.
IMF to cut global forecasts
US - The IMF has cut its forecast for world economic growth this year to 2.8% from 3.2%, Reuters reported on 29 August citing unnamed sources at the international lender.
Welteke - ECB focus is inflation, not growth
GERMANY - Ernst Welteke, member of the European Central Bank council, on 29 August said there were signs of a possible recovery of the euro zone's largest economy, but stressed the ECB's main task was to control inflation and not stimulate growth.
Pakistan savers' money at risk
PAKISTAN - About 90,000 savers in Pakistan can't get at their money temporarily as the central bank examines a merger in the sector.
Countdown to euro cash
EUROPE - The European Central Bank begins its campaign today, 30 August, to persuade the 300 million citizens of the eurozone to recognise - and love - their new currency.
Japan moves closer to recession
JAPAN - Steep falls in industrial production and retail sales in July have pushed Japan closer to official recession, figures showed on 30 August.
The unveiling of euro banknotes - Duisenberg
EURO - Wim Duisenberg: Press conference on the occasion of the unveiling of the euro banknotes and their security features. Introductory statement, Frankfurt, 30 August.
Domingo Solans - Euro notes and security features
EURO - Domingo Solans: Press conference on the occasion of the unveiling of the euro banknotes and their security features. Introductory remarks on the euro banknotes and their security features, Frankfurt, 30 August.