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Socialists suspend talks over Bulgaria's cb chief
Following the withdrawal last week of right-wing politicians from the debate on who should become the next governor of the National Bank of Bulgaria, the Bulgarian Socialist Party suspended negotiations on Wednesday, Novinite reported.
Y V Reddy set to become new RBI governor
YV Reddy will become the next governor of the Reserve Bank of India, succeeding Bimal Jalan. The decision was taken Tuesday at a meeting arranged by Prime Minister Atal Bihari Vajpayee, The Economic Times reported.
Irish c bank investigates shop over euro leaflet
A fashion shop in Ireland is under investigation by the central bank for using an image of a euro banknote in a promotional campaign for the shop. The shop, called "Solo" apparently substituted its name for "euro" on the note, the Irish Times reported.
UK interest rates cut by a quarter point
The Bank of England cut interest rates by a quarter point to 3.5 per cent on Thursday. The Bank said the fall in the value of the pound since the start of the year should help underpin growth, but pointed out that the decrease had been partly reversed in…
Greenspan enters his surrealist period
Salvador Dali has apparently taken over as chairman of the Federal Reserve. An article in the Financial Times suggests the Fed's recent behaviour indicates a sudden conversion to surrealism in the conduct of monetary policy.
ECB holds interest rates steady
At Thursday's meeting the Governing Council of the ECB decided that the minimum bid rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 2.00%, 3.00% and 1.00%…
Statement on IMF Managing Director visit to Kenya
Statement to the press made by Horst Kohler, Managing Director of the IMF in Nairobi, on July 8, 2003. Kohler said that while the challenges were considerable, the Kenyan government has begun to tackle them in "a decisive manner".
Bank of England statement on rate cut decision
The Bank of England's Monetary Policy Committee today voted to reduce the Bank's repo rate by 0.25% to 3.50%, 10 July. In its press release the Bank said the global economic recovery remained hesitant and the cut was needed to keep inflation on track to…
Information Guide for institutions using TARGET
The European Central Bank published on 9 July a new edition of the "Information Guide for credit institutions using TARGET". This publication provides a standard set of information on TARGET functionality and answers the most frequently asked questions…
Brazil's central bank faces 'weak' strike action
Workers vowed to paralyse Brazil's central bank and Finance Ministry during a strike of public workers on Tuesday. The action was described as "weak" with most employees going to offices as normal past handfuls of protestors who urged them to save their…
Cash shortage still grips Zimbabwe
The Reserve Bank of Zimbabwe is printing over R218 million worth of cash to inject in the market and counter the current shortages, SABC News reported. ATM machines are empty in the country and the note printing is unlikely to help inflation currently…
IMF praises Kenya's 'new chapter'
IMF managing director Horst Kohler said Tuesday he was impressed with the Kenyan governments efforts to tackle economic problems. Kohler held talks with President Mwai Kibaki and central bank governor Andrew Mulei during the visit, Business Day reported.
Interview: Iraq's acting central bank chief Salman
In an interview with Reuters Faleh Salman, interim central bank governor in Iraq said Tuesday the central bank's independence from government interference for the first time in decades will help create confidence in the new Iraqi dinar banknotes. The…
Gunmen attack Iraq central bank governor
The acting governor of the central bank of Iraq Faleh Daud Salman escaped unhurt on Monday after the car he was travelling in was fired on, The Australian reports. Two passengers in the car were wounded however, the report added. But a separate report…
Reserve Bank of India boss may leave for politics
Reserve Bank of India governor Bimal Jalan is likely to leave his post in the next few weeks for a seat in parliament, Reuters reported a banking source as saying.
Shiokawa says he, Fukui aren't worried about bonds
Speaking in Tokyo Wednesday after a meeting with Bank of Japan Governor Toshihiko Fukui, Finance Minister Masajuro Shiokawa said he agreed with Fukui that there is not much concern that long-term rates have risen a little bit, Bloomberg reported.
Italy won't try to change euro pact rules - Solbes
EU economics commissioner Pedro Solbes said in an interview that Italy will not attempt to change the strict rules underpinning the stability and growth pact during its six-month presidency of the European Union, Associated Press said.
Central Bank of Burundi hit by rebels gun fire
Burundian rebels fighting in the capital Bujumbura have hit the central bank with shells, Radio Burundi reported.
Guts needed to take top job at the IMF
An ill timed joke apparently prevented war-time president of the BIS, JW Beyen, from becoming managing director of the IMF, the Financial Times reports.
Bank of England meets with King and Lomax in place
The Bank of England's interest rate setting MPC began their two day meeting Wednesday. It will be the first time Mervyn King sits on the Committee as governor and the first MPC meeting for Rachel Lomax who takes over from King as the new deputy governor…
National Bank of Slovakia - Annual Report 2002
ANNUAL REPORT - The National Bank of Slovakia has published its Annual Report for the year ended 2002.
Slovak central bank forecasts positive euro effect
The adoption of the euro in Slovakia will mean the realisation of all the positive impacts of the integration on the Slovak economy, the NBS said in a statement, TASR News reported.
GCC Gulf single currency may be 'unrealistic'
An article in the Jordan Times says that the proposed single currency for the Gulf Cooperation Council (GCC) states is unrealistic. Arab Gulf states, it says, lack the maturity, the political and legal stability needed to take such a radical measure and…
IMF Paper: Inflation and central bank independence
The IMF Working Paper "Inflation Performance and Constitutional Central Bank Independence: Evidence From Latin America and the Caribbean" explores the relationship between the constitutional entrenchment of central bank independence and inflation…