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U.S. coins to cease circulation in Cuba
UNITED STATES - U.S. dollar coins will be taken out of circulation from the Cuban foreign currency commercial network as of October, the island's Central Bank reported 28 August.
High-value euro notes spark concern
FRANCE - Carrefour, the large French-based retail group, yesterday urged only small-scale distribution of high-denomination euro notes in the first months after the January 1 changeover to euro notes and coins, claiming the move would minimise confusion…
C Bank chief, dep premier hold talks with Ato
SOMALIA - The chairman of the Central Bank of Somalia, Dr Mahmud Muhammad Ulusow, yesterday hosted Uthman Hasan Ali Ato for lunch at his [Mogadishu] residence. Mr Ato was accompanied by members of the USC-SNA [United Somali Congress-Somali National…
E Timor rushes to build new monetary system
ASIA-PACIFIC - E Timor rushes to build new monetary system - The region has never had a central bank and must create it from scratch, writes Joe Leahy.
Montenegro to introduce two-currency system
YUGOSLAVIA - The Montenegrin government will introduce a two-currency system in the republic, including the German mark and the euro, on January 1, 2002.
New notes pose problems for cash machines
SPAIN - Spain's Azkoyen, one of the world's leading cigarette and vending machine producers, is already cashing in on next January's launch of euro notes and coins.
The Monetary Policy of the ECB
RESEARCH - The European Central Bank published 'The Monetary Policy of the European Central Bank' on 28 August.
Reserve Bank of India - Annual Report 2000 - 2001
ANNUAL REPORT - The Reserve Bank of India has published its Annual Report for 2000 - 2001. The Annual Report was released on 28 August.
Reserve Bank of Australia - Annual Report 2001
ANNUAL REPORT - The Reserve Bank of Australia today, 29 August, released its 2001 Annual Report.
Bank of England Quarterly Bulletin - August 2001
Research - The Bank of England has published its latest Quarterly Bulletin, Volume 41, Number 3, for August 2001.
Bank of Korea gov to attend Kansas fed symposium
SOUTH KOREA - Bank of Korea Govenor Chon Chol-hwan will begin a six-day visit to Kansas City on 29 August to attend a symposium organised by the U.S. city's Federal Reserve Bank (FRB).
Dual currency system to be in place in Montenegro
YUGOSLAVIA - The Central Bank of Montenegro has drawn up a plan for the transition from the German mark to the euro, which will last from the beginning of the next year until June.
Changeover to euro not to create hidden pressure
EUROPE - The changeover to the euro should not create hidden inflationary pressures or VAT increase, President of the European Parliament Economic and Monetary Affairs Committee, Christa Randzio-Plath, said, referring to European Central Bank (ECB)…
Hungary PM nominates new monetary council member
HUNGARY - Prime Minister Viktor Orban has nominated Tamas Karo, a U.S.-Hungarian dual citizen and a personal advisor to the President of Hungary, to the National Bank of Hungary's Monetary Council, state news agency MTI says.
UAE central bank launches real time settlement
UAE - The UAE Central Bank launched its new Real Time Gross Settlement System in UAE's Citibank and Abu Dhabi Commercial Bank on August 25, 2001.
U.S. risks inflation in rebound - Milton Friedman
UNITED STATES - The United States should pull out of recession in 2002 but will have to keep an eye on inflation when it does, Nobel prize-winning economist Milton Friedman said in an interview published on 27 August.
Central Bank's on-line banking system threatened
BRAZIL - The Central Bank may have to delay the starting date for its new on-line banking system, called Sistema de Pagamentos Brasileiro (SPB), from November.
Unrestricted foreign currency in Egypt
EGYPT - According to Al-Bayan newspaper (August 22, 2001), the Egyptian Central Bank recently instructed all commercial banks in Egypt to provide any foreign currency sum required by local customers.
Brazil cenbank chief to meet IMF's Fischer
BRAZIL - Brazilian Central Bank President Arminio Fraga will leave for Washington D.C. today, 28 August, to meet with the outgoing No.2 official at the International Monetary Fund (IMF), the bank said on 27 August.
Bank of Japan Discussion Paper
RESEARCH - A discussion paper from the Institute of monetary and economic studies, Bank of Japan by Hiroshi Fujiki. Money demand near zero interest rate: Evidence from regional data.
Effective websites: not just a beauty contest
RESEARCH - Today we show two pieces of research on central bank web sites. The first is taken from the journal Central Banking, produced by Central Banking publications, the latest August 2001 edition. The second is an extract from an article published…
Central bankers' speak out - Topics for our times
CENTRALBANKNET'S SPECIAL REPORT - For our Monday special feature this week, Centralbanknet surveys some recent speeches by central bank governors and discovers that they do not always keep to the beaten track.
Oman to enforce anti-money laundering law soon
OMAN - Dr. Sheikh Abdul Malik bin Abdullah al Hinai, Undersecretary for Economic Affairs, said the Sultanate will shortly apply a law to combat money laundering.
Kenya banks take govt to court over rate law
KENYA - Kenyan banks have taken the government to court to challenge a new law to regulate interest rates, as it would apply retroactively to loans already issued, officials said on 21 August.