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PBOC to enact anti-money-laundering regulations
The People's Bank of China will enact its first anti-money-laundering regulations next month as part of a crackdown on rampant crime and the illegal outflow of more than 200bn yuan (188.54 bn HK dollars) a year.
Venezuelan, Colombian cbs agree on payment system
Following meetings between central bank officials from Venezuela and Colombia, a system has been agreed which will control and guarantee payments for Colombian exports to Venezuela.
Israel cb criticises govt over deficit dangers
Israel's central bank has criticised the government over its handling of the budget. The Bank of Israel said the Israeli government needed to make substantial cuts to the budget to reach its 2003 budget deficit target.
Dinkic best candidate to head Serbia's cb
Outgoing governor National Bank of Yugoslavia, Mladjan Dinkic, is seen to be the best candidate to head the new National Bank of Serbia.
Egypt cb says forex market more stable
The governor of the Central Bank of Egypt Mahmud Abu-al-Uyun told bankers that, 10 days after the liberalization of foreign exchange, the forex market is becoming increasingly stable.
Bank of France pressed to close down branches
The Bank of France is considering a drastic overhaul of its extensive presence throughout the country, closing the bulk of its 211 branches. The sharp cutbacks in the bank's activities are proposed in a report handed in to Jean-Claude Trichet, the…
Australian interest rates to remain stable
The Reserve Bank of Australia's quarterly statement on monetary policy said the global economy had lost momentum in late 2002 and that had weakened the case for rate rises this year.
What role for inflation targeting?
ARTICLE - Former executive director of the Reserve Bank of India, A. Vasudevan, asks whether inflation targeting or multiple objective targeting should be of concern only to central banks. He argues that, generally speaking, monetary policy needs to be…
Jarle Bergo on monetary policy in Norway
SPEECH - Jarle Bergo, Deputy Governor of Norges Bank, speaks about the role of monetary policy within Norway's economic policy. The speech was given at the Confederation of Vocational Unions on 7 February 2003.
Lars Heikensten on Sweden's road to EMU
SPEECH - Riksbank governor Lars Heikensten says that direct changeover to the euro from 2006 is good news for the financial sector and will lessen the risk of payment system disturbances. He also emphasised the importance of creating a transparent, clear…
Tromp on Netherlands Antilles cb 175th anniversary
SPEECH - Speech Dr. E.D. Tromp, governor of the Bank van de Nederlandse Antillen, on the occasion of the reception in honor of the Bank's 175th anniversary.
McDonough on risk mgmt, supervision and Basel II
SPEECH - William McDonough examines how enhancements in banks' risk management processes have led supervisors to move to a more process-oriented, risk-focused approach to supervision, and explains how provisions in the New Basel Accord will support…
Mark Olson on the Gramm-Leach-Bliley Act
SPEECH - Fed governor Mark Olson looks at the Gramm-Leach-Bliley Act and asks to what extent it contributed to recent corporate misbehaviour - or was it just a coincidence? He encourages the role of the legal community as facilitator of the self…
Reserve Bank of Australia quarterly statement
PRESS RELEASE - The latest quarterly statement on Monetary Policy has been released by the Reserve Bank of Australia today.
CentralBankNet Monday Special Feature
SPECIAL FEATURE - Interest rate setting is abit like gambling with players weighing up the odds and placing their bets. The ECB's announcement last week that it intends to formally recommend a new voting system for its Governing Council will change the…
IMF role in Argentina to be investigated by panel
An International Monetary Fund panel will examine whether the IMF should have done more to prevent Argentina's economic collapse, the first time the independent board will review the fund's handling of a single country.
No easy euro-entry for the UK says EC official
Klaus Regling, director general for economic and financial affairs at the European Commission, said there would be no concessions for the UK to join the euro.
Is the Maestro a Hack?
ARTICLE - Paul Krugman, a much respected figure in the world of economics, says he yearns for the return of the "old" Alan Greenspan. Once noted for his stern lectures on disciplined tax policies Greenspan is now, Krugman argues, an apologist for a…
Some inflation target fans at Fed despite ECB
ARTICLE - This article asks whether some Federal Reserve officials are pushing an idea that gets the European Central Bank nothing but grief? The idea in question is inflation targeting.
Koizumi offers no clues on BOJ choice
Japan's prime minister Koizumi kept his cards close to his chest on the looming choice for next BOJ governor, reiterating in Parliament he wants an "aggressive deflation-fighter" and a "respected and excellent person."
'Strong euro won't harm EU growth'
European Central Bank President Wim Duisenberg said Thursday that the recent strong rise in the euro should not hit the competitiveness of goods made in the 12-country euro zone, nor harm the outlook for growth in the region.
Fed plans to change its check operations
The Federal Reserve System moved Thursday to streamline its behind-the-scenes check-processing operations, citing Americans' increasing use of debit cards and other electronic payment options to pay bills. The move is likely to lead to several hundred…
BCV director insists forex controls are essential
According to Central Bank of Venezuela (BCV) director Domingo Maza Zavala, the foreign exchange controls implemented by the government Thursday are essential for control of the economy, particularly in such troubled times.
Swedish central bank warns on Iraq uncertainty
Sweden's central bank has warned that uncertainty surrounding a potential war with Iraq may take their toll on investment and economic growth throughout Western industrialised economies.