Central Banking staff
Follow Central Banking
Articles by Central Banking staff
Bank of England - Annual Report 2001
UK - The Bank of England's Annual Report for 2000/ 2001 was published on 20 June. The governor, Sir Edward George, believes that the steady progress made during the year can be continued. But acknowledges a downside in the shape of the slowdown in the US…
Friedman issues euro warning
US - Top US economist Milton Friedman believes Europe was wrong to introduce the single European currency and predicts it will lead to a raft of economic problems for the region.
Single currency for NZ and Aus
NEW ZEALAND - Economists at a Sydney forum discussed a shared currency for New Zealand and Australia on 20 June.
Hungarian parliament passes new central bank act
HUNGARY - The Hungarian parliament passed the new Central Bank Act late evening of 19 June. The new act relegates supervisory authority over the National Bank of Hungary (MNB) to the State Audit Office (ASZ), and replaces the current central bank council…
Eichel supports ECB's Duisenberg
GERMANY - German Finance Minister Hans Eichel has lent his support to the European Central Bank's oft-criticized president, Wim Duisenberg, German business newspaper reported on 21 June.
Chancellor cautious on early UK euro entry
UK - Gordon Brown, UK Chancellor of the Exchequer, gave a cautious welcome to UK entry to the euro at his mansion house speech on 20 June.
Speech by Gordon Brown at the Mansion House
SPEECH - Gordon Brown, Chancellor of the Exchequer, at the UK Treasury has spoken at the 2001 Lord Mayor's Dinner for Bankers and Merchants of the City of London, 20 June.
Speech by Edward George at the Mansion House
SPEECH - The Rt Hon Sir Edward George, Governor of the Bank of England gave a speech at the 2001 Lord Mayor's Dinner for Bankers and Merchants of the City of London, 20 June.
Bank of Japan Monthly Report June 2001
RESEARCH - The Bank of Japan has produced its Monthly Report of Recent Economic and Financial Developments for June 2001.
Condition of the U.S. banking system
US - Federal Reserve Board chairman Alan Greenspan testified before the Committee on Banking, Housing, and Urban Affairs at the U.S. Senate on 20 June.
Arab central bank hits out
UAE - The UAE central bank has lashed out at a US report claiming the Emirates is in 'the second category' in relation to money laundering.
Europe can learn from UK's decimal currency switch
UK - The conversion to a decimal currency in Britain in 1971 may have lessons for the introduction of euro notes and coins in January next year.
Euro € - Dutch prepare for switch with free coins
NETHERLANDS - The Dutch government has extravagent plans to prepare its people for the arrival of new euro notes and coins on 1 January 2002. Alone among the participating countries, the Dutch will put free coins in everyone's pocket before the…
Bank of England minutes show rates firmly on hold
UK - The Bank of England has published the minutes to it's Monetary Policy Committee (MPC) meeting held on 5 and 6 June. The minutes show that the MPC were strongly in favour of keeping interest rates on hold.
Protest fear forces World Bank switch
SPAIN - The World Bank has decided to hold an annual development conference in cyberspace after protesters threatened to disrupt the event.
Argentina's new measures to combat recession
ARGENTINA - Argentina is preparing to implement it's latest package of measures aimed at wresting the country out of a three-year recession and staving off a potential debt default.
Bank of England Quarterly Bulletin - Summer 2001
RESEARCH - A section of the bulletin, Markets and Operations, reviews developments in international and domestic financial markets, drawing on information from the Bank of England's market contacts, and describes the Bank's market operations in the…
Basle 2 'Developing countries fear poor loan loss'
GUATEMALA - The Basle 2 regulations, requiring banks in industrialised countries to make increased provisions for loans to their counterparts in developing countries, would make funds more expensive and scarce for those countries classed as the biggest…
Basle 2 'rules will leave banks short of capital'
SWITZERLAND - New rules on the amount of capital international banks must hold have been criticised as failing to meet necessary standards for the regulation of the global banking industry. It is suggested that banks will have an incentive to 'game' the…
Soros avoids the euro
EUROPE - In an interview with the German Sunday newspaper, Welt Am Sontag, George Soros says that betting on the euro is a mug's game.
Cathy Minehan, President Boston Fed Reserve Bank
SPEECH - Federal Reserve Bank of Boston President and Chief Executive Officer, Cathy Minehan spoke on 18 June at the Boston Municipal Research Bureau Semi-Annual Meeting, Swissotel, Boston, Massachusetts.
Euro € - Five economic tests have not started yet
UK - Chancellor Gordon Brown has quashed speculation that assessment of the five tests necessary for Britain's entry in the single currency have already begun and narrowly avoided a 'banana skin' during a BBC radio interview on 18 June.
Chilean economy minister leaves post for bank seat
CHILE - Chile's Economy Minister Jose de Gregorio announced late on 18 June that he will step down from his post in order to seek congressional approval to join the Central Bank's five-member monetary policymaking board.
Mervyn King at the Cardiff Business School, Wales
SPEECH - The Deputy Governor of the Bank of England Mervyn King spoke at Cardiff University on 18 June. He suggested that growing imbalances in the UK economy risk sharp swings in inflation and growth and an uncontrollable fall in sterling.