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Greenspan talk lifts markets - John Berry
Financial markets rallied strongly yesterday after Federal Reserve Chairman Alan Greenspan acknowledged that US economic growth has slowed "appreciably," convincing many investors that the central bank will begin to cut short-term interest rates if…
RBNZ Brash cut transparency to save credibility
Reserve Bank of New Zealand governor Don Brash said Wednesday he decided to reduce the amount of information contained in his bank's quarterly monetary policy statements to help safeguard the credibility of the institution, particularly in the eyes of…
NZ holds rates, hawkish RBNZ outlook surprises
The Reserve Bank of New Zealand kept its official interest rates on hold as expected on Wednesday, but surprised many in the markets with a hawkish outlook for 2001.
Bulgarian premier urges banks to lend more
Bulgarian prime minister Ivan Kostov on Tuesday urged local bankers to lend more to boost economic growth instead of keeping funds deposited abroad. Central bank governor Svetoslav Gavriiski said at the same meeting he expected increased lending to…
Buba views on Eurozone enlargement upset hopefuls
The Bundesbank's bid to make joining the Eurozone tougher for eager east European applicants has upset candidates but analysts said it will be politically impossible to make the demand stick.
BOC warns of inflation risks, keeps rates on hold
The Bank of Canada pointed to inflation risks lurking in the economy, but left interest rates unchanged yesterday in the first of its regularly scheduled policy announcements.
Singapore announces changes in currency policy
The Monetary Authority of Singapore, the central bank, has allowed banks in the country to lend Singapore dollars to non-residents in the city state in an effort to further liberalise its policy on non-internationalisation of the Singapore dollar and…
Jusko says Slovak crown's losses nothing special
The current losses posted by the Slovak crown to the euro are nothing unusual, Marian Jusko, the governor of the National Bank of Slovakia, told reporters today.
Danish cenbank may step up market operations
The governor of the Danish central bank said Wednesday that the bank may step up its activity in the money markets if industry consolidation reduces market efficiency.
Ecuadorian colonel says lift bank secrecy veil
Former Colonel Lucio Gutierrez, who led the January coup that removed President Jamil Mahuad from office, called on the Ecuadorian government to lift the bank secrecy act and reveal the names of the beneficiaries of the March 1999 bank holiday decreed by…
OECD calls for 'greater clarity' from BOJ
While the future looks more positive for Japan, significant reforms including greater transparency from the Bank of Japan still need to be made, the Organisation for Economic Development and Cooperation said Wednesday in its annual economic survey of…
PNG should adopt the Aust dollar, says expert
Papua New Guinea should adopt the Australian dollar to ensure economic stability, an expert on developing Asia Pacific economies advised today.
Problem with BOE inflation forecast, says Fed Kohn
The Bank of England's forecast round and quarterly Inflation Report don't present a clear picture to policymakers, markets or the wider public, Don Kohn, director of monetary affairs at the US Federal Reserve Board in Washington, said Wednesday.
IMF offers $10bn to ease Turkish banking crisis
The International Monetary Fund said it will provide more than $10 billion in financial support for Turkey to help ease a sharp liquidity crisis that has sent the country's interest rates soaring and depleted central bank reserves.
Yugo cenbank plans managed float for dinar in 2001
Yugoslavia's central bank said on Wednesday it was planning to abandon its rigid fixed exchange rate policy in 2001 and move to a managed float for the dinar.
Credit Suisse face Abacha money laundering probe
Switzerland's banking regulator said Wednesday that it filed a formal complaint against Credit Suisse Group over its acceptance of millions of dollars linked to the late Nigerian dictator General Sani Abacha.
Summers welcomes IMF aid for Turkey
The United States on Wednesday welcomed a $10 billion rescue package agreement between the International Monetary Fund and Turkey, saying that its financial stability was important to the US.
Indonesia Ramli welcomes back Syahril Sabirin
Indonesian coordinating minister for economic affairs Rizal Ramli welcomed Wednesday the release of the country's central bank governor Syahril Sabirin from his house arrest status, hoping that no changes would be made in term of monetary policies.
Pakistan banks told to double capital base by 2003
Pakistan has told banks to double their minimum paid-up capital to one billion rupees ($17.2 million) by the start of 2003.
Korea c.bank says holding rates for now
Korea may cut interest rates to ward off a sharp economic downturn but only if prices remain under control, Bank of Korea Governor Chon Chol-hwan said on Thursday.
Ex-Fed Blinder - Japan needs cheaper yen
Alan Blinder, a former deputy chairman of the Federal Reserve, said Thursday Japan ought to boost demand by making its currency cheaper.
Cyprus prepares to dismantle interest rate regime
Cyprus is preparing a major shake-up of its financial markets in January to remove measures left over from its days as a British colony and to shore up its economy prior to joining the European Union.
Yugo banks told to prepare for international audit
Yugoslavia's central bank told commercial banks on Wednesday to prepare for international auditors as monetary authorities tried to assess the banking sector ahead of planned reform.
El Salvador makes way for US dollar general use
El Salvador is making final preparations to introduce the US dollar into general use in January, importing the US currency and training bank employees how to avoid money laundering and counterfeit schemes, officials said on Wednesday.