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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.
Sri Lanka c bank relaxes For Ex curbs
SRI LANKA - Sri Lanka's Central Bank announced 20 August the relaxation of several restrictions on foreign exchange transactions through commercial banks imposed in January, the official Daily News reported on 21 August.
Head of Latvian c bank prepared to found new party
LATVIA - Bank of Latvia President Einars Repse is ready to undertake formation of a new right-wing party.
RBI links supervision with risk profile of banks
INDIA - The Reserve Bank of India (RBI) is planning to roll out a bank-specific risk-based supervision (RBS) system from the last quarter of the financial year 2002-2003.
Ukraine begins certification of bank liquidators
UKRAINE - In line with the National Bank of Ukraine resolution, only persons who pass a special examination will be allowed to participate in the liquidation or temporary management of banks, a report says.
Regulator denies responsible for bank intervention
NICARAGUA - Nicaragua's banking regulator Noel Sacasa has denied responsibility for the multimillion dollar costs of intervening and liquidating six banks during his term a report says.
Indian bankers jittery over proposed laws
INDIA - Rattled by scams, bankers are now jittery that new laws could push them further towards the edge. The financial regulators are now pitching for a change in the statutes that would put the responsibility on banks, financial institutions and other…
German wise man says ECB need not follow Fed cut
GERMANY - Horst Siebert, a senior adviser to the German government, said on 21 August the European Central Bank did not need to follow the widely expected U.S. interest rate cut by trimming euro zone rates.
Swiss nat bank to change policy if needed
SWITZERLAND - Swiss National Bank (SNB) Chairman Jean-Pierre Roth told a business journal that the central bank will review policy and make changes if needed in late September.
Croatian cen bank offers euros at 7.50 kuna
CROATIA - The Croatian central bank said on 21 August it would sell an unspecified amount of euros at 7.50 kuna ($0.907) - its second intervention this month to aid the kuna and a first sale of currency at a fixed exchange rate.
HKMA says bankruptcy law changes 'difficult'
HONG KONG - Hong Kong's bankruptcy laws will unlikely be amended despite a sharp rise in the number of people going broke and companies going under, the city's quasi-central bank said 21 August.
IMF News Brief
REPORT - A news release from the International Monetary Fund, 21 August, detailing the recommend addition of US$8 billion to Argentina's stand-by credit.
Federal Reserve Research
RESEARCH - International Finance Discussion Papers, An Empirical Comparison of Bundesbank and ECB Monetary Policy Rules by Jon Faust; John Rogers; and Jonathan H. Wright, August 2001.
IMF agrees extra cash for Argentina
ARGENTINA - After 12 tense days of talks, the International Monetary Fund (IMF) agreed to increase its funding to crisis-hit Argentina by $8bn.
US rates cut for seventh time
UNITED STATES - The US Federal Reserve has cut interest rates for the seventh time this year in a continued attempt to revive the US economy.
What they said about the dollar
ARTICLE - Policymakers' comments about the US currency, whether planned or off-the-cuff, seldom go unnoticed. Todays, 21 August, London edition of the Financial Times reprises some quotes about the dollar.