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Pakistan forex reserves up $30 mln to $3.289 bln
PAKISTAN - Pakistan's central bank said on 23 August total liquid foreign exchange reserves were $3.289 billion as of 18 August, up by some 30 million dollars from the previous week's $3.259 billion.
Australian economy 'immune' to turmoil - Costello
AUSTRALIA - Australia would be immune to looming global economic turmoil, Australian Treasurer Peter Costello said yesterday as the threat of recession looms larger for the US. Mr Costello predicted Australia would top the world economic growth table…
Copom keep rates unchanged at 19% per year
BRAZIL - If the economic climate in Argentina is enough to keep the Central Bank in a state of alert, Brazil's weak second quarter GDP data only added to its concerns about the future of the Brazilian economy.
C Bank of Lebanon launches new composite index
LEBANON - Banque du Liban launched a new composite index on 22 August, 2001.
Central banker discovers service ethos
ARTICLE - Salinee Wangtal, a veteran of the Bank of Thailand, became impressed with how commercial organisations cultivate a service-oriented culture to bolster their image when she had the chance to work in a publicly-listed bank.
Russian bank chief hits at government policy
RUSSIA - Russian bank chief hits at government policy - Economic programme 'not properly thought through', says Gerashchenko.
China to unveil regulations on Taiwan operations
CHINA - After gathering opinions of Taiwanese companies, associations of Taiwanese-invested companies and other business-related groups, China's Cabinet is due to introduce the regulation of governing liaison office establishment of Taiwanese-invested…
Pre - euro flood of forgeries is feared
EUROPE - Gangs of counterfeiters are set to offload fake francs, D-Marks and other eurozone currencies before the changeover to euro notes and coins in January, retailers have been warned.
German wise man eyes lower GDP, ECB rates
GERMANY - Bert Ruerup, one of the German government's five economic advisers or "wise men", cut his forecast on 23 August for German growth in 2001 and said the way was clear for the European Central Bank to cut interest rates.
Minutes of the Federal Open Market Committee
REPORT - A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washington, D.C., beginning on Tuesday, June 26, 2001, at 2:00 p.m. and continuing on Wednesday, June 27, 2001, at…
Speech by Bob McTeer of the Dallas Fed
SPEECH - Bob McTeer, President and CEO of the Federal Reserve Bank of Dallas gave a speech on 23 August before the New Roads & E-Roads Conference, Dallas, Texas.
India to showcase dazzling Nizam jewels at last
INDIA - India's most dazzling array of jewellery goes on display for the first time next week amid hefty security for a collection which could be worth more than US $2 billion. The collection has been housed in the vault of India's central bank for years.
Brazil rates will only fall after energy crisis
BRAZIL - The government will only be able to cut interest rates when energy supplies return to normal, which will probably only be in the second quarter of 2002, said former Central Bank chairman Carlos Geraldo Langoni on 21 August.
Kurdistan opens new central bank
KURDISTAN - Prime Minister of Kurdistan Regional government (Arbil) Nechirvan Barzany has officially opened the new building of Kurdistan Central Bank in Arbil.
Juncker takes hard line on ECB reform
GERMANY - Luxembourg Prime Minister Jean-Claude Juncker was quoted on 22 August as saying a future reform of the European Central Bank's Governing Council should retain the principle of the equality of euro zone countries.
Seoul pays off its IMF debts
SOUTH KOREA - South Korea has fully repaid the last instalment of a multi-billion dollar loan from the International Monetary Fund.
Hayami - BOJ won't adopt managed inflation policy
JAPAN - The Bank of Japan can't adopt high inflation targets that would involve measures to artificially reflate the economy, the central bank governor said 23 August.
IMF says cash to reserves, Argentina decides use
ARGENTINA - The International Monetary Fund reiterated on 22 August that the money Argentina will receive under its new $8 billion program will go to central bank reserves, but it is then up to the country to decide how to use it.
German growth slows to zero
GERMANY - Official figures confirmed the fact that the German economy slowed to a halt in the second quarter of the year.
EMU debate crucial to long term health of Swedish
SWEDEN - With the Swedish krona suffering from classic symptoms of a small European currency remaining outside of European Monetary Union, its best hope of a sustained recovery may be an acceleration of the EMU debate and entry process, analysts say.
Phil Fed - Economists cut US growth forecasts
US - The world's largest economy is likely to grow sluggishly for the rest of this year but will pick up again in 2002, according to a Federal Reserve bank survey of private forecasters released today, 23 August.
Survey from the Philadelphia Fed
SURVEY - The Survey of Professional Forecasters is the oldest quarterly survey of macroeconomic forecasts in the United States. The survey began in 1968 and was conducted by the American Statistical Association and the National Bureau of Economic…
To What Extent Does Productivity Drive the Dollar?
RESEARCH - The Federal Reserve Bank of New York has produced a research paper in its Current Issues in Economics and Finance series, Volume 7, Number 8, August 2001. The paper was written by Cedric Tille, Nicolas Stoffels, and Olga Gorbachev.
Backstrom: Sweden's economy is slowing down
SPEECH - Governor Urban Backstrom of Sveriges Riksbank, the Central Bank of Sweden, gave a speech on 20 August in Harnosand, Sweden.