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Philippines Arroyo says peso speculators face jail
PHILIPPINES - Philippine President Gloria Macapagal Arroyo said on 17 August the peso had rebounded because of the central bank's crackdown on currency speculation and warned speculators of harsh punishment, up to life imprisonment, in the future.
Thailand rejects IMF interest rate advice
THAILAND - Prime Minister Thaksin Shinawatra on 17 August rebuffed an IMF suggestion that Thailand should not rule out cutting interest rates, saying rates were already low enough despite the need to boost the faltering economy.
Fraga says he may stay on in opposition government
BRAZIL - Central Bank chairman Arminio Fraga said on 16 August that he may accept to keep his position after President Fernando Henrique Cardoso's mandate, which ends in 2002.
Asian Monetary Fund not a bad idea - US official
USA - The administration of President George W. Bush would support the future establishment of an Asian IMF, a senior U.S. official said today, 17 August.
Macroeconomic risks of euro currency changeover
RESEARCH - A recent report, EMU Watch, from the Deutsche Bank looks at macroeconomic risks related to the final steps of the euro changeover 2001/02. The report looks at two main risks, macroeconomic demand and price risks, the other of dangers related…
Central Bank of Namibia - Annual Report 2000
ANNUAL REPORT - The Central Bank of Namibia has published its Annual Report 2000.
Central Bank of Haiti - Annual Report 2000
ANNUAL REPORT - The Central Bank of Haiti has published its Annual Report 2000. It is available to read on their web site but only in French.
Central Bank of Croatia - Annual Report 2000
ANNUAL REPORT - The Central Bank of Croatia has published its Annual Report 2000.
Business Outlook Survey - Philadelphia Fed
RESEARCH - The Federal Reserve Bank of Philadelphia has published its Business Outlook Survey for August 2001.
Anti-globalisation protest IMF/World Bank meeting
US - Nationwide planning by anti-globalisation protesters from across the US is intensifying and becoming increasingly sophisticated in advance of next month's meetings in Washington of the World Bank and International Monetary Fund, reports the…
Taiwan c bank may up euro weight in forex reserves
TAIWAN - Taiwan's central bank may raise the weighting of the euro in its foreign exchange reserves in the wake of possible strengthening in the euro and higher interest rates, Commercial Times reports.
BOT chief says no whitewash
THAILAND - Bank of Thailand Governor MR Pridiyathorn Devakula yesterday, 15 August, denied there would be a "whitewash" of legal cases against former executives of banks and 56 defunct finance companies widely accused of impropriety.
Polish central bank head calls for fiscal reform
POLAND - Leszek Balcerowicz, president of the National Bank of Poland, stressed in a speech made on 10 August to the Polish parliament that tight monetary policy in 2000 had done the most to shelter Poland from worse macroeconomic disturbances that could…
Ex-SA Reserve Bank deputy gov joins Nedcor
SOUTH AFRICA - Nedcor Group, the South African financial services company, has appointed Timothy Thahane to the boards of several of its companies.
Kenya unable to pass anticorruption legislation
US - The United States regrets Kenya was unable to pass an anticorruption bill to pave the way for receiving International Monetary Fund (IMF) aid and restarting an economy in its worst shape since the 1960s, the State Department said yesterday, 15…
German economy grinds to a halt
GERMANY - The German economy slowed to a halt in the second quarter of the year, according to new preliminary figures from the Bundesbank.
BOJ hints at unavoidable recession in Japan
JAPAN - The Bank of Japan has downgraded its assessment of the Japanese economy for the third straight month and hinted strongly that a recession - the country's fourth in a decade - will be unavoidable.
Keynes lives
ARTICLE - Today's monetary policy is increasingly used as a Keynesian-style tool of demand management believes Robert Skidelsky, Professor of Political Economy at Warwick University in the UK.
Chicago Fed's new internet banking web page
CHICAGO - The Federal Reserve Bank of Chicago has added a new Internet Banking Supervisory Resources section to its web site www.chicagofed.org.
Federal Reserve Bulletin - August 2001
REPORT - The Federal Reserve Board has published its August 2001 Monetary Policy Report to the Congress.
Recent Economic Developments in Japan
JAPAN - Bank of Japan - Monthly Report of Recent Economic and Financial Developments August 2001. Full Report.
Dutch Kusters engineering granted India contract
INDIA - Dutch company Kusters Engineering, a manufacturer of machines for the destruction of banknotes, has been granted a 25 mln Dutch guilders ($10.2 mln/11.3 mln euro) contract by the Central Bank of India.
EC put cards on the table and Visa comes up trumps
AUSTRALIA - The European Commission (EC) has approved Visa's rules on interchange fees for debit and credit cards.