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Tsang fights for Exchange Fund independence
HONG KONG - Financial Secretary Donald Tsang has rejected the Democratic Party's request to freeze a Hong Kong Monetary Authority plan to spend HK$4 billion from the Exchange Fund on new offices.
European fin mins meeting to discuss growth, ECB
EUROPE - European finance ministers meeting in Malmo this weekend have put the European Central Bank on notice that it had better explain its refusal to cut interest rates amid gathering gloom for global growth.
Fed decision unlikely to influence ECB rates
EUROPE - Euro-zone interest rates are unlikely to change in response to the Federal Reserve's half point cut in key interest rates. The ECB again defended its decision last week not to reduce rates.
New Zealand lowers interest rates to six percent
NEW ZEALAND - The New Zealand Reserve Bank has cut its official cash rate by 0.25 percent to 6 percent following an inflation dip.
Fed seeks female governor for board-Reuters
UNITED STATES - The Bush administration is seeking women and bankers to fill two empty posts on the powerful seven-member Fed Board of Governors, Reuters reports on Apr 18.
Tokyo denies intention to depreciate yen
JAPAN - The Financial Times reported on Apr 17 that Japanese officials were attempting to deny rumours that Tokyo was trying to boost its flagging economy at the expense of other Asian exporters and the US by weakening the yen.
CLS Bank may reduce foreign exchange risk
ARTICLE - The Economist magazine reports in its Apr 14 edition on the introduction of a new financial institution later in 2001 which is designed to reduce the risk of a crisis in foreign exchange payments.
Portugal cbank chief sees euro firming in 2001
PORTUGAL - Bank of Portugal governor Vitor Constancio on Apr 18 predicted the euro would recover from its current weakness by the end of 2001.
G-30 to meet in London on Thursday, Friday
UNITED KINGDOM - G-30 think tank of senior public and private sector financial representatives is set to meet for one of its bi-annual plenary sessions at the Bank of England from Apr 19-20.
Govt might question CNB governor's appointment
CZECH REPUBLIC - The Czech government could question the appointment of Zdenek Tuma as Czech National Bank governor by lodging a complaint with the Constitutional Court, Deputy Premier Pavel Rychetsky said on Apr 18.
Qatar comes to defence of Lebanese pound with $60m
LEBANON - Qatar joined a Gulf Arab consortium in defending the Lebanese pound by pledging to deposit $60 million with Banque du Liban, local newspapers said on Apr 18.
BOJ considered aggressive easing in Feb-minutes
JAPAN - The Bank of Japan said on Apr 18 its Policy Board members had discussed a much more aggressive monetary easing at a February 28 policy meeting than the small rate cut they actually implemented.
BoE MPC voted 6-3 to cut rates to 5.5%-minutes
UNITED KINGDOM - Six of the nine members of the Bank of England's Monetary Policy Committee voted to cut the repo rate to 5.5% from 5.75% during their last meeting on Apr. 4-5, according to minutes of that meeting released on Apr 18, 2001.
Russian cbank forex controls loosened by Duma
RUSSIA - Russia's lower house of parliament approved on Apr 18 package of measures aimed at easing central bank control over foreign currency operations.
Cavallo tries to ease fears over peso re-peg plan
ARGENTINA - Argentine economy supremo Domingo Cavallo is talking to Brazilian business leaders and investors on Apr 18 to try to soothe fears over his new currency plan that unnerved Brazilian markets.
Turk cbank reforms aimed at price stability-Dervis
TURKEY - Turkey's central bank would become a transparent institution with price stability as its primary aim under the reform plan put forward by Kemal Dervis, the economy minister.
Fed surprises by reducing rates to 4.5%
UNITED STATES - The US Federal Reserve on Apr 18 continued its agressive easing of monetary policy by cutting interest rates by 0.5% for the fourth time this year.
India's cbank tightens banks' bullion trade norms
INDIA - The Reserve Bank of India has tightened bullion trading norms for commercial banks after some of them faced potential losses from their exposure to a cooperative bank that specialises in gold trade.
Lemierre rejects talks on ECB candidature - report
GERMANY - Jean Lemierre, president of the European Bank for Reconstruction and Development, dismissed media speculation he is a candidate as the next head of the European Central Bank, a British newspaper reported on Apr 16.
IMF selects director of new evaluation office
IMF - Montek Singh Ahluwalia has been appointed as the new director of the International Monetary Fund's independent Evaluation Office (EVO).