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Greenspan health rumours disrupt FX markets
Various unsubstantiated stories regarding the health of Alan Greenspan sent the dollar sharply weaker in financial markets Tuesday. Spot gold prices got a lift from the Greenspan rumour and rose to the highs of the day at $364.00, Market News…
Poland appoints Czekaj to Monetary Policy Council
Poland's Deputy Finance Minister Jan Czekaj was voted onto the National Bank of Poland's Monetary Policy Council on Tuesday. Czekaj, a taxation guru at the ministry, was reported as saying after the Tuesday vote that he would likely take part in the…
HKMA's Yam at the HKIMR Summer Workshop 2003
In his Opening Remarks to the HKIMR Summer Workshop 2003 given on 27 August Joseph Yam of the Hong Kong Monetary Authority said the organisers have put together an interesting programme with three papers dealing with issues that are of current or…
E-barter V fiat money: will central banks survive?
Bank of England Working Paper by F H Capie, Dimitrios P Tsomocos and Geoffrey E Wood titled "E-barter versus fiat money: will central banks survive?". In the paper the authors argue that the information-economising properties that allowed money to…
Philadelphia Fed Business Outlook Survey, Aug 2003
Activity in the region's manufacturing sector improved in August, according to firms surveyed for the Philadelphia Fed's Business Outlook Survey, August 2003 . Most indicators increased, but the employment index declined.
Kennedy on monetary policy during economic shocks
In the speech 'Monetary Policy during Economic Shocks: Lessons Learned' given on 26 August Sheryl Kennedy of the Bank of Canada discussed three periods over the past decade when Canada's economy was hit by major shocks. From her perspective she examines…
Fukui: report on currency and monetary control
Statement by Toshihiko Fukui, Governor of the Bank of Japan, concerning the Bank's Semiannual Report on Currency and Monetary Control before the Committee on Financial Affairs, House of Councillors, on July 24, 2003
Court rulings off-tangent, says Philippines cb
The Philippines central bank has attacked court rulings against it as being "off-tangent" and has urged it to reconsider its decision to suspend senior members, including the governor reports the Manila Times.
Speech by BOJ dep gov Toshiro Muto
Toshiro Muto, Deputy Governor of the Bank of Japan, asks "What Have We Learned from "Unconventional" Market Operations?" and assures that the BOJ will "continue to exert every effort to enhance the transmission mechanism of monetary policy, while…
114 officials take early retirement from SARB
An offer of an early retirement package from the South African Reserve Bank has met with 114 acceptances from officials over the age 50. The governor, Tito Mboweni, made the announcement of the measure, aimed at saving money, at the bank's AGM in…
It's cheque out time says Bank of Uganda governor
Lengthy clearing time and limited use mean the days are numbered for cheques in Uganda. The governor of the central bank, Elliot Mwebya, would ban them tomorrow if he could, reports allAfrica.com
Peru inflation on target - new governor
The new governor of Peru's central bank, Javier Silva Ruete, expects inflation of 1.5 to 1.7% for the year, comfortably below the government's target of 2.5%, reports Reuters
CBR to limit ruble strength
The Central Bank of Russia will move to limit the ruble's strength next year to help local producers compete with imports, despite IMF calls for a more flexible exchange rate policy reports the Moscow Times.
The Bank of Canada Review - Summer 2003 issue
The Review includes articles on financial developments in Canada, measuring interest rate expectations and dollarization in Canada.
Fiji: Pacific currency union out of the question
Fiji has rejected out of hand the idea of partaking in a Pacific currency union, according to the National Business Review. The prime minister said the idea was totally out of tune, far-fetched and unworkable. Australia's PM commented, "I think we should…
BOE's tail between legs over IT fiasco
The Bank of England has approached its various account holders - including foreign central banks - with its tail between its legs after unforeseen problems arose in its payment system, according to the Financial Times. "It is now clear that the new…
Comments on Basel II
The Basel Committee on Banking Supervision has published on the BIS website the comments received on the latest version of the long-awaited new capital rules.
Thai central bank upbeat on economy
The economy's future is bright in Thailand, according to the central bank. Governor Pridiyathorn Devakula says he still expects GDP to increase by 5.5% in line with his forecast, reports Stuff.co.nz of New Zealand.
Central Bank of China Annual Report 2002
Taiwan experienced a modest recovery in 2002 with GDP growth of 3.54% against a contraction of 2.18% in 2001, according to the central bank's annual report.Foreign excahnge reserves grew by US$39.4 billion to US$161.7 billion over the same period.
Croatian National Bank Annual Report for 2002
The central bank of Croatia, the Croatian National bank met its goal of price stability with inflation at 2.2% for 2002. This was down on 2001 and in line with European economies, its annual report for 2002 proclaims. Last year also saw the introduction…
Indonesia behind on FATF AML deadline
Indonesia looks set to miss an FATF deadline to strengthen its anti-moneylaundering measures and could face penalties on its international financial transactions as a result, a senior central bank official told Dow Jones.
Rates slashed in Brazil
The Central Bank of Brazil reduced its main lending rate to 22%. The cut of two and a half percentage points was the largest in more than four years, reports the Financial Times.
Duisenberg to skip September rate-setting meeting
Wim Duisenberg, European Central Bank president, will be on a panel of former central bankers on September 4th instead of chairing the rate setting meeting at the ECB, reports Bloomberg.
Donald Winn passes away
Fed old-timer Donald Winn sadly died at the age of 66 with pancreatic cancer after faithfully serving the central bank for almost half of his life. With 30 years on the clock, Winn had proved a precious asset to no less than four chairmen, in charge of…