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Argentine banks fear scandal's impact on economy
Argentina's panic-stricken banking sector called for swift government action on Feb 15, 2001 to resolve a money-laundering scandal that has enveloped the country's top central banker, saying it was threatening to derail the long-stagnant economy's…
Mexico says 2000 GDP grew at robust 6.9 pct
Mexico's gross domestic product expanded by 6.9 percent during 2000, the fastest growth rate seen by Latin America's second-largest economy in nearly 20 years even with a year-end slowdown, the Finance Ministry said on Feb 15, 2001. The country's…
Belgium eyes central bank gold profit for pensions
Belgium's government plans to use profits from the past transfer of gold from its central bank to the European Central Bank to start a state pension fund it had hoped to fill with proceeds from the sale of mobile telephone licences, Belgian media…
Fed Poole- forecasts subject to significant error
The consensus view of private sector economists that U.S. gross domestic product will grow 2.1% in 2001 is "reasonable," but also subject to significant error, Federal Reserve Bank of St. Louis President William Poole said on Feb 15, 2000. Thus it's…
Prodi says Britain will lose influence outside eur
European Commission President Romano Prodi warned Britain on Feb 15, 2001 it would lose control over its economy if it remained outside the euro. Challenging the widespread fear in Britain that signing up to the euro would entail a major surrender of…
Gjedrem - Norwegian econ near capacity limits
Norwegian Central Bank Governor Svein Gjedrem, citing high inflation growth, a burgeoning surplus, and increased government spending, indicated late on Feb 15 that Norway is unlikely to follow the lead of other central banks in cutting key lending rates…
Romanian CPI trend downward despite Jan spike-BNR
Inflation in Romania continued at a faster-than-desired pace over the past year but its underlying trend remains downward despite a January 2001 consumer price inflation spike, the central bank (BNR) said on Feb 15, 2001. "Data showed a slower-than…
Turk cenbank chief sees slower inflation in Q2
Turkish inflation will drop to one percent monthly or less from summer 2001 as a $4 billion IMF-backed plan to cut chronic high inflation progresses, Central Bank head Gazi Ercel said on Feb 15. In an interview, Ercel said a slowdown in the economy and…
Fed's Broaddus-Odds high US economic recovery near
The odds that the U.S. economy will recover soon are "reasonably high," Federal Reserve Bank of Richmond President Alfred Broaddus said on Feb 15, 2001. Broaddus told reporters after addressing a forum sponsored by Bennett College and the Greensboro…
Swedish cbank board member mulled rate cut-minutes
Sweden's central bank, or Riksbank, said on Feb 15, 2001 its board, which sets monetary policy, had agreed unanimously at its last meeting on Feb 1, 2001 to keep the key repo rate unchanged at 4.00 percent. During the monetary policy discussion, however,…
IMF's Koehler sees Europe 2001 growth exceeding US
International Monetary Fund Managing Director Horst Koehler said on Feb 15 he saw European GDP growth in 2001 of some three percent against two percent expected for the United States. In a wide-ranging conversation with Italian business daily Il Sole 24…
Chad's economy minister dies in plane crash
Chad's minister for economic development died in a plane crash as he returned from a board meeting of the regional central bank in Congo Republic, government sources said on Feb 15, 2001. In addition to the minister, Ahmat Lamine Ali, a senior government…
'Credit, Interest Rates, Open Economy' - ed.Rochon
"Credit, Interest Rates and the Open Economy: Essays on Horizontalism" is a new book edited by Louis-Philippe Rochon and Matias Vernengo. Published by Edward Elgar, February 2001, 296 pp, Hardback, 1 84064 098 7, £59.95, $90.00.
What's wrong with central bank websites?- S. Hanke
For a start, there are not enough of them, say Professor Hanke and Michael Morgenstern of John Hopkins University. They name the laggards who do not have websites at all - not all of them by any means among the poorest or least developed. The authors…
MAS to further open Sing $ swap market from Mar 1
The Monetary Authority of Singapore said on Feb 15, 2001 it will further open the Sing dollar swap market to offshore banks keen to engage in transactions with non-banks to boost liquidity in the wider bond market. Koh Yong Guan, managing director of the…
MP Sichinga blames BoZ for Union Bank's collapse
East independent member of parliament Robert Sichinga on Feb 14, 2001 blamed Bank of Zambia' (BOZ) for the closure of Union Bank Zambia Limited, the Post of Zambia reported on Feb 15. Sichinga complained that the central bank had failed provide effective…
China markets watchdog chief warns manipulators
China's chief stock market regulator Zhou Xiaochuan issued a stern warning against price manipulation on Feb 15, 2001, saying stock prices should be based on the quality of listed firms and not "backroom deals". Zhou also pledged to crack down on firms…
Interview: BoE's MPC member Sushil Wadhwani
Sushil Wadhwani, an "external" member of the monetary policy committee of the Bank of England, explains why he is a "productivity optimist". Over the last decade, forecasters have systematically underestimated GDP growth in the UK and simultaneously…
O'Neill signals hands-off stance on world economy
Paul O'Neill, the U.S. Treasury secretary, on Feb 14, 2001 indicated the new Bush administration would take a strongly skeptical view of official intervention in global markets to help stabilize the world economy, the Financial Times reported in its Feb…
Interview: Women in central banks
Is central banking still a male preserve? Or do women have more opportunities to get to the top in central banking than in other professions? We look at the growing role of women in central banking - and the problems they face - through the experiences…
'Suing the BIS'- by William Hall
William Hall of the Financial Times reports on the difficulties the Bank for International Settlements has got into as it struggles to counter the accusation that the price it has offered to buy back its shares from the private sector is "absurdly low".
Interview: Charles Goodhart
In a wide-ranging interview, Professor Charles Goodhart gives his views on the main challenges facing central banks today: output gap forecasting and productivity shifts, and the role of asset prices and the exchange rate in monetary policy. He also…
Grey Areas in Central Banking- HKMA's Joseph Yam
How far should the HKMA involve itself in two grey areas that are receiving an increasing amount of public attention: consumer protection in the banking industry, and the development of retail payment systems? Joseph Yam, chief executive of the Hong Kong…
BoE's forecast confirms loosening stance
The Bank of England's February 2001 inflation report confirmed marketexpectations that UK interest rates were likely to head down over thecourse of 2001. Mervyn King, deputy governor for monetary stability, who presented thereport despite a bout of flu,…