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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.
Africa urged to speed up market integration
SOUTH AFRICA - Africa must step up efforts to integrate its financial markets, but the creation of a single bourse is still a long way off, African central bankers and exchange officials said on 15 August.
Malaysia c bk campaign to promote Islamic banking
MALAYSIA - Malaysia's central bank said 15 August that it will organise a week-long nationwide campaign to promote Islamic banking and insurance from 26 Oct to 2 Nov.
HKMA call on banks to tighten credit card policies
HONG KONG - Hong Kong's central bank today 15 August called on the city's banks to tighten up their policies for issuing credit cards in an effort to combat an increasing incidence of bankruptcy.
Ukrainian president approves anti-poverty strategy
UKRAINE - Ukrainian President Leonid Kuchma has signed a decree approving a strategy to overcome poverty.
Russian bank tension up as reforms threaten region
RUSSIA - Tension is growing over rival long-delayed measures to reform Russia's banking system as government officials prepare recommendations scheduled to be put forward at the end of September.
Euro breaks 90 cents barrier
EUROPE - The euro broke through the 90 cent level today, 15 August, and hit a five-month high against the pound for the third consecutive day as the single currency benefited from losses by the US dollar.
Bank split over rate cut
UK - The Bank of England's surprise cut in interest rates earlier this month on 2 August was approved by a six-to-three majority, minutes from the rate-setting meeting have revealed.
The changing landscape of banking in Hong Kong
SPEECH - David Carse, Deputy Chief Executive, Hong Kong Monetary Authority, gave a speech at the Hong Kong Investment Funds Association, Furama Hotel, Hong Kong, luncheon on 15 August.
Brazil c bank may have to relax war on inflation
ARTICLE - Hyperinflation may be dead, but prices are rising again in Brazil. A series of economic jolts could force the central bank to temper its anti-inflation zeal to avoid aggravating bigger problems in a slowing economy.
Change in the Guideline for Money Market Operation
REPORT - Bank of Japan Monetary Policy Meeting 14 August.
Tinkering with currency can't solve economic woes
ARTICLE - John Devine, chief financial officer at General Motors Corp., last week was the latest in a string of corporate executives complaining about the strength of the U.S. dollar. His timing wasn't perfect. The dollar has actually softened relative…
Recent Economic Developments in Japan - Summary
REPORT - Bank of Japan - Monthly Report of Recent Economic and Financial Developments August 2001. Summary only.
High-tech credit card scam spreads
ASIA - International criminal gangs are using high-technology to steal thousands of credit card numbers at a time from trusting shoppers.
Disinflation makes rates more powerful tool
ARTICLE - After some recent volatile swings, July consumer price data from several euro-zone economies 14 August, including France, suggest that a broad disinflation trend is firmly in place.
Bush keeps 'open mind' on Argentina
US - Talks between Argentina, the International Monetary Fund (IMF) and the US Treasury continued on 13 August, as the country sought extra money to help ease its financial crisis.
Hole-in-the-wall headache behind euro big day
ARTICLE - With the deadline for the introduction into circulation of euro notes less than five months away, Europe is facing its greatest logistical challenge since the D-Day landings.