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Unicon appointed central bank auditor in Russia
Unicon/MS Consulting Group has been appointed as the main auditor of the central bank of Russia for 2002. The bank's PR department said that this decision was reached at a meeting of the National Banking Council chaired by Alexei Kudrin on 30 December.
Garganas calls for ECB to change its rules
The eurozone's policy framework suffered a further blow when a leading central banker called for a key change in the way interest rates are set. The criticism comes after the ECB was forced to defend the stability and growth pact. However this time the…
Soberon - Cuban bank system had a successful 2002
Cuba managed to maintain monetary stability in 2002, despite difficult tests faced by its banking system in 2002 as a result of the world economic crisis and its effects on the island, Francisco Soberon, president of the Central Bank of Cuba, has said.
Economist meeting debates technology growth
Seven thousand economists from around the world examined the impact of globalization and information technology, during a weekend gathering in Washington, concluding that the period 1995 to 2000 saw a likely once only increase in technological gains…
Takenaka says govt expectations of BOJ 'very high'
Japan's Financial Services and Economics Minister Heizo Takenaka said on Tuesday that the government is working hard to overcome deflation and its expectations for the Bank of Japan's policies are "very high".
First victory for Trichet in fraud trial
Bank of France Governor Jean-Claude Trichet had a successful first day on Monday in the trial over his alleged role in one of France's largest ever banking scandals when the presiding judge rejected a request for the trial to be delayed by one year to…
New China central bank chief pledges stable policy
China's newly appointed central bank governor Zhou Xiaochuan has pledged to keep monetary policy stable this year and improve financial services to help spur economic growth, it was reported on Tuesday.
Sweden can thrive without the euro
ARTICLE - After Sweden named the date for its euro referendum this article by a Swedish politician says that little enthusiasm exists across Europe for the euro and Swedes themselves are sceptical. It also claims that Britain would be striking a "blow…
Fed's Guynn says U.S. laying base for solid growth
Atlanta Federal Reserve Bank President Jack Guynn said on Monday the U.S. economy may grow only slightly faster this year than in 2002, but recent economic adjustments have laid the base for solid future growth.
Bank of Canada Financial System Review, Dec 2002
REPORT - The Bank of Canada published its semi-annual Financial System Review on 19 December. The report says that the Canadian financial system has coped well during the recent period of increased financial stress. The weakening economic environment of…
RBNZ Consultation - Designated payment systems
REPORT - The Reserve Bank is proposing new legislation which will allow for the designation of payment systems, and welcomes comments on the consultation document Designated payment systems, 20 December.
Minehan on the economic outlook
SPEECH - In the speech 'Annual Economic Summit and Outlook' Cathy Minehan of the Federal Reserve Bank of Boston said the recovery was well positioned to continue, moderately but steadily. She emphasised that patience was needed but that the further…
Guynn on the economic outlook for 2003
SPEECH - In the speech 'The Economic Outlook for 2003' Jack Guynn of the Federal Reserve Bank of Atlanta described the current recovery as "one of a kind" which followed a "unique" downturn. He expects moderate economic growth over the period immediately…
Broaddus on monetary policy with low inflation
SPEECH - In the speech 'Comments on Monetary Policy in a Low Inflation Environment' J. Alfred Broaddus of the Federal Reserve Bank of Richmond said much of the progress in monetary policy over the last two decades is due to exceptionally strong…
Mfula appointed Bank Of Zambia deputy governor
President Mwanawasa has appointed Bank of Zambia (BoZ) regional director, Felix Mfula as deputy Governor (administration) for the central bank. Mr Mfula's appointment comes into effect immediately.
Ukraine's new central banker praises predecessor
Serhiy Tyhypko, Ukraine's new central bank chief submitted a request on quitting parliament to the parliamentary speaker on 26 December as he was elected governor of the National Bank of Ukraine. Tyhypko praised highly the achievements of the previous…
Yugoslav, Greek national banks sign agreement
National Bank of Yugoslavia (NBY) and National Bank of Greece governors Mladjan Dinkic and Nicholas Garganas on 27 December signed an agreement on bilateral cooperation, including data exchange on business operations and bank control.
Dai Xianglong leaves People's Bank of China
China has replaced its longtime central bank governor, putting a former stock market regulator in charge as it prepares to open its banking industry to foreign competition.
Call for Bank of Japan to adopt inflation target
The Japanese government will urge the Bank of Japan to adopt an inflation target, an influential member of the ruling Liberal Democratic party said Sunday. The comments follow those of Chief Cabinet Secretary Yasuo Fukuda who said last week that an…
Minutes from the Sveriges Riksbank Board meeting
MINUTES - Minutes of the Sveriges Riksbank Executive Board meeting on 4 December, published 19 December. The Executive Board decided to lower the repo rate by 0.25 per cent, although second deputy governor Eva Srejber entered a reservation against the…
Bank of Japan: Losing independence?
ARTICLE - This article looks at the recent initiatives by the Bank of Japan but says the BOJ's independence may be slipping as Prime Minister Junichiro Koizumi and members of his economic team want a greater say in BOJ policy-making.
Bank of France's Trichet begins fraud trial
Bank of France governor Jean-Claude Trichet, tipped as the next president of the European Central Bank, was due to stand trial over a decade-old banking scandal on Monday. He denies all charges.
Man threatens to fly plane into ECB headquarters
A man stole a plane at gunpoint and flew it amid Frankfurt's skyscrapers on Sunday, threatening to crash it into the headquarters of the European Central Bank.
The ECB and M3
LETTER - Letter published in the UK edition of the Financial Times on 6 January. The letter "Stubborn ECB does not deserve to be so badly misunderstood" follows an article regarding the ECB's supposed targeting of M3 levels.