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Swedes to say 'no' to euro, latest survey says
A Danske Bank survey published on Monday showed 40 percent of Swedes were opposed to swapping their krona for the euro, while 30 percent were in favour, EU Business reported.
Japan's yen selling to alleviate pressure: Fukui
Speaking on the sidelines of the regular meeting of central bank governors at the Bank for International Settlements, Bank of Japan governor Toshihiko Fukui said "We are still cautious about the outlook for Japan's economy, but there are certainly some…
UAE to implement Basel II accord
The UAE central bank announced Monday it would adopt the risk assessment mechanism known as Basel II, which will go into force in 2007. The governor of the central bank said final touches were being added to the system in order to enable banks to…
Deflation remains a serious threat to Japan - IMF
In its annual Article 1V consultation with Japan, the IMF said the economy 'remains vulnerable to significant downside risks' and argued a 'more comprehensive and integrated policy approach is needed to tackle deflation and to address fiscal imbalances',…
Central Bank of Sri Lanka implements RTGS system
The central bank of Sri Lanka implemented its Real Time Gross Settlement System (RTGS) together with the Automated General Ledger system on Monday, according to Sri Lanka Daily News. The RTGS system will facilitate large value fund transfers and…
Brazil allowed to draw $4.3B from IMF
After reviewing Brazil's economic performance the IMF has given the go ahead to release $4.3 billion, the second-to-last part of its $30 billion loan, the Associated Press said. Talking to reporters in Brasilia, the nation's capital, Finance Minister…
BMA Governor attends launch of Islamic bank unit
Shaikh Ahmed bin Mohammed Al Khalifa, Governor of the Bahrain Monetary Agency (BMA) said Monday "The global Islamic banking industry is witnessing tremendous growth, both in terms of volumes of business and in terms of number of institutions, many of…
German inflation rate picks up in August
Final figures for August inflation in Germany showed the rate was unchanged from the July figure of 1.1 percent, AFP reported. The final data were revised downwards slightly from preliminary estimates published at the end of August.
Lars Heikensten on the Riksbank and the euro
In the speech 'The Riksbank and the euro' given on 4 September Lars Heikensten of the Sveriges Riksbank said in his opinion, the value of conducting a national interest rate and exchange rate policy is exaggerated in the EMU debate. On the other hand, it…
Riksbank's General Council say 'yes' to the euro
All eleven members of the Riksbank's General Council vote "yes" to Swedish membership of the Eurosystem, 4 September. The Council said "The campaigners advocating a "no" vote claim to safeguard the krona and the Riksbank, but we eleven who appoint,…
Essays on Financial Stability from Bank of Canada
The Bank of Canada has published four "Essays on Financial Stability". The essays provide a useful overview for anyone interested in understanding the issues and policy environment surrounding financial system stability. The first three essays consider…
Bollard issues warning to real estate buyers
Extract from an address to the Property Council of New Zealand on 9 September by Alan Bollard of the Reserve Bank of New Zealand. Bollard repeated his warning that people purchasing real estate in pursuit of capital gains face risks.
RBNZ Monetary Policy Statement, September 2003
The Reserve Bank of New Zealand has published its Monetary Policy Statement (MPS) for September 2003. Speaking at the release of the Monetary Policy Statement Reserve Bank Governor Alan Bollard said "New Zealand has enjoyed an extended period of strong…
Central bankers see a global upswing
Jean-Claude Trichet said on Monday 8 September that he was "very encouraged" by developments and the accumulation of signs in the major economies in the world, Reuters reports. Speaking at a news conference after a bi-monthly central bankers' meeting at…
ECB's Quaden says euro zone rates are low enough
On the eve of the meeting at the Bank for International Settlements, ECB Governing Council Member Guy Quaden told reporters on Sunday 7 September that euro zone interest rates had fallen far enough to support a rebound that was expected by year's end,…
No sign of sustained recovery yet - ECB's Schioppa
ECB Executive Board member Tommaso Padoa-Schioppa said on Saturday 6 September that after so many disappointments it is hard to believe in an imminent recovery, Reuters reports. While "some signs" of recovery exist, Padoa-Schioppa said the euro zone…
24 hours to a deal - Argentina wrestles with IMF
On Monday 8 September, Argentina and the IMF were finalising a deal that will see the South American country avoid a fresh default, according to the BBC. If an agreement is not reached within 24 hours, Argentina will be forced into a damaging $2.9bn (£1…
Solomons central banker Rick Hou speaks out
Rick Hou, governor of the Central Bank of the Solomon Islands (CBSI) has spoken out about the government's apparent lack of enthusiasm in renewing his appointment, according to Solomons Today. Mr Hou agreed to a new term as central bank governor after…
BDO UniconRuf to audit Russian central bank
The Russian central bank has signed an agreement with BDO UniconRuf to audit the central bank's accounts, according to The Russian Journal. The company obtained the right to audit the Central Bank's 2002 report after winning a corresponding tender…
BIS Quarterly Review, September 2003
The BIS September 2003 quarterly review, released 8 September, is divided into two parts. The first analyses recent developments in financial markets, financing flows in banking and debt securities markets, and activity on derivatives exchanges. The…
Parry on prospects for the national, local economy
In a speech on 'Prospects for the National and Local Economies: A Monetary Policymaker's View' given on 4 September Robert Parry of the Federal Reserve Bank of San Francisco said in the unlikely event that US economic growth disappoints, the Fed could…
Duisenberg on changing fortunes and world growth
In a speech on 'Changing fortunes: financing world growth' given on 5 September Wim Duisenberg of the European Central Bank said he is convinced that economic activity in the euro area can only be lifted to a new, structurally higher, level by far…
Fed's Gramlich on Economic and financial education
In a speech on 'Economic and financial education' given on 4 September Edward Gramlich of the Federal Reserve thanked the Federal Reserve Bank of Atlanta for hosting the conference and bringing together the group of educators. Success in increasing…
Canada's Dodge on financing world growth
In a speech on 'Financing World Growth' given on 5 September David Dodge of the Bank of Canada said the G-7 finance ministers and central bank governors have adopted much of the approach to crisis resolution detailed in a joint paper published in 2001 in…