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San Francisco Fed on Robert Parry's retirement
San Francisco Fed statement, 25 September, on Robert Parry's decision to retire in June 2004. The Chairman of the Board of Directors said "Bob's leadership of the Bank, his contributions to the communities we serve, and his monetary policy expertise will…
Minehan on the current state of the US economy
In a speech given on 25 September Cathy Minehan of the Federal Reserve Bank of Boston said the robust growth most analysts expect for this quarter and next seems assured, and that should help sustain the economy next year. "There are downside risks to be…
Interview with BIS General Manager Malcolm Knight
In an interview conducted on 25 September, Bank for International Settlements general manager Malcolm Knight said "It would be likely that Basel II would assign India a sovereign risk weight of 50 percent instead of the 100 percent it receives under the…
Fed's Greenspan on Financial Education
In a speech on 'Financial Education' given on 26 September Alan Greenspan of the Federal Reserve said the financial marketplace has grown increasingly complex since the era four decades ago when all Americans needed to know was how to write a check and…
Should central banks regulate credit card schemes?
Yes, according to Australia's federal court, which has just ruled that Visa and MasterCard should be subject to regulation by the Reserve Bank of Australia. In this weeks Monday Special CentralBankNet examines the impact of the case.
Venezuela c bank wary of overseas credit card use
The central bank of Venezuela has said it has no immediate plans to authorise the use of local credit cards abroad due to abuses that have previously taken place, according to Business News Americas. The country's foreign exchange commission Cadivi will…
Taiwan adopt 'managed float' for dynamic stability
The central bank of China, Taiwan will adopt a "managed float" policy towards the foreign exchange market, according to AFX Asia, and has said it is, in principle, ready to allow market forces to determine the exchange rate.
Outgoing Duisenberg gets the hump in Dubai
With the IMF and World Bank annual meetings at an end, this article from Bloomberg News reflects on the Dubai gathering's less formal proceedings. Caviar, foie gras, lobster and belly-dancing were on the menu while Bank of Italy governor Antonio Fazio…
Banco Filipino sues BSP
The Banco Filipino Savings and Mortgage Bank plans to sue the Bangko Sentral ng Pilipinas and its Monetary Board for damages, according to the Manila Times. In a statement on Thursday 25 September, Banco Filipino said it filed the case because the…
Fake Polish euros on sale on the internet
Fake sets of "collectors'" Polish euro coins are being sold on the internet, according to AFP. The "sample Polish Euros" were quickly dismissed by the National Bank of Poland who pointed out that it did not distribute such coins.
Brazil's cen bank: Economy showing recovery signs
The Banco Central do Brasil has said that the economy is showing signs of recovery and that they now view inflation as a lesser of the threats to the country's economy, according to MENAFN.
Russian central bank awards accountancy contract
The central bank of Russia has awarded a contract to the Institute of Chartered Accountants in Ireland, Reuters reports. The aim of the project, led by PriceWaterHouse Coopers, is to increase the efficiency of the Russian central bank through the…
San Francisco Fed's Parry to retire in June
Federal Reserve Bank of San Francisco President Robert Parry is to retire in June 2004, according to the San Francisco Chronicle. No successor was named to Parry, who turns 65 in May, but the bank said that it has begun a nationwide search for a…
Swiss Nat Bank to sell 284 tonnes gold by Sep 2004
The Swiss National Bank said on Friday 26 September that it plans to sell 284 tonnes of gold from excess reserves by the end of September 2004 and aims to offload another 130 tonnes in 2005, according to a report by Reuters.
RBA, Council of Financial Regulators Annual Report
The 2002 Council of Financial Regulators' Annual Report was released by the Reserve Bank of Australia, 25 September. The powerful Council of Financial Regulators - made up of the Reserve Bank, the Australian Prudential Regulation Authority and the…
Poole on Self-Regulation in Pension Systems
In a speech on 'The Role of Self-Regulation and Voluntary Compliance Incentives in the Design of Pension Systems' William Poole of the Federal Reserve Bank of St. Louis said the United States does not have a perfect pension system. Indeed, the system…
Chicago Fed National Activity Index, August 2003
The latest Chicago Fed National Activity Index for August 2003 was published on 25 September indicates that economic activity slowed in August. The CFNAI was -0.28 in August, a deterioration from the upward revised July reading of +0.05.
Guynn: The economic outlook appears brighter
In the speech 'The Fog Is Lifting - and the Economic Outlook Appears Brighter' Jack Guynn of the Federal Reserve Bank of Atlanta said the outlook for the economy is bright and he anticipates more solid and broad-based growth ahead. Boosted by higher…
Bank of England Quarterly Bulletin, Autumn 2003
The Bank of England released its Quarterly Bulletin, Autumn 2003, on 26 September. The Bulletin includes articles titled 'Public expectations of UK inflation' and 'The optimal rate of inflation: an academic perspective'. The report also warns that…
Response to new Zimbabwe cheques encouraging
Zimbabwe's new bearer cheques introduced on Tuesday 23 September seem to have had some effect, according to The Harare Herald, with reports saying shorter queues, and the expression of relief by ordinary people means the radical idea may succeed.
Fed's McTeer says no need to raise rates soon
Dallas Fed President Robert McTeer told a luncheon meeting on Wednesday 24 September that he was optimistic that growth would soon outstrip the rapid pace of productivity gains and lead to new hiring, according to Reuters. But he acknowledged that the…
Fed's Poole says US econ prospects superb
St Louis Fed president William Poole said on Wednesday 24 September, according to Reuters, "I am optimistic about the U.S. economy. The recent performance of productivity has been stunning." Asked if he feared an impact on the market for U.S. Treasury…
African bank supervisors agree to up co-ordination
In efforts to harmonise supervisory practices, the Accra Mail reports, delegates from member countries at the Ninth Annual Meeting of Banking Supervisors from West and Central Africa agreed to forward their prudential regulations, current banking laws…
SARB appoints Kruger as registrar of banks
Errol Kruger will replace Christo Wiese as registrar of banks in South Africa from 1 October, Dow Jones reports. As registrar, Kruger will be responsible for ensuring the soundness of banks and banking groups registered in South Africa.