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Fear over house prices prevented interest rate cut
UK - Fear of stoking the overheated housing market was one reason why the majority of the members of the Bank of England's rate-setting monetary policy committee decided against an interest rate reduction last month.
Czechs cut interest rates for fifth time this year
CZECH REPUBLIC - The Czech central bank yesterday cut interest rates for the fifth time this year in a new attempt to stimulate faltering domestic economic growth and slow the rapid appreciation of the Czech koruna.
Brazil c bank sees 2003 inflation near 6 pct-COPOM
BRAZIL - Brazil's Central Bank sees 2003 inflation near its adjusted target of 6 percent, above its previous projection of about 5 percent, the minutes of its Oct. 22-23 rate-setting meeting reveal.
Yugoslav central bank will not devalue dinar- gov
YUGOSLAVIA - The Yugoslav central bank is determined to keep the dinar exchange rate at its current level because any major change could seriously threaten reforms, Yugoslav central bank governor Mladjan Dinkic has said.
Moskow on the Economy and Free Trade
SPEECH - In the speech 'The Economy and Free Trade' made on 29 October, Michael Moskow of the Federal Reserve Bank of Chicago said during the last 20 years or so, we've deregulated financial markets, developed more flexible labor markets and made major…
MAS Guidelines on Sound Risk Management Practice
REPORT - On 30 October the Monetary Authority of Singapore published its Guidelines on Sound Risk Management Practices. This set of guidelines aims to provide banks, merchant banks, finance companies and insurance companies (referred to collectively as …
Chicago Fed National Activity Index September 2002
REPORT - CFNAI Indicates Economic Growth Remained Slow in September - The Chicago Fed National Activity Index (CFNAI) remained below zero for a second month in September, coming in at -0.35 in September, up from -0.45 in August.
Commission to assess benefits for UK's euro entry
ARTICLE - Eleven of the world's leading economists will serve on a new commission to consider the consequences for Britain's economy of a decision to reject membership of the euro.
Single currency a stable solution
ARTICLE - A common currency would bring more security to everyone in the Asia-Pacific region an article in the Australian Financial Review, 27 September claimed.
AGCC reaffirms switchover plan to single currency
ARTICLE - Governors of AGCC central banks have reaffirmed their commitment to introducing a common currency for the six-member Arab states, as Gulf economies are gradually embracing the idea of globalisation and financial sector liberalisation.
Yugoslav bank governor accuses Serbian PM
YUGOSLAVIA - Belgrade: "I consider the kind of statement made by [Serbian] Prime Minister [Zoran] Djindjic in respect of a change of the dinar exchange rate to be irresponsible and incompetent, Governor of the National Bank of Yugoslavia [NBJ] Mladjan…
Thailand's credit card rate to be capped at 18%
THAILAND - Interest rates and charges for credit cards issued by both banks and non-banks should be capped at 18%, says Finance Minister Somkid Jatusripitak.
Cameroon c bank chief opens laundering meeting
CAMEROON - The Bank of Central African States [BEAC] governor, Jean Felix Mamalepot, has called for concerted efforts to intensify the fight against money laundering and the financing of terrorism - two dangerous phenomena in the world economy.
Argentina: IMF deal mooted for Friday
ARGENTINA - A deal between Argentina and the IMF rescheduling US$14bn falling due to the multilateral agencies between now and the end of next year could be announced as soon as Friday of this week, according to a number of sources in Buenos Aires.
Ex-tea boy heads for top RBZ post?
ZIMBABWE - Gideon Gono, the chief executive officer of the Commercial Bank of Zimbabwe (CBZ), looks set to become the governor of the central Reserve Bank of Zimbabwe (RBZ) shortly, it was established this week - says Zimbabwe's Financial Gazette.
Bank Negara set to host IFSB seminar
MALAYSIA - Malaysia's central bank, Bank Negara Malaysia, is hosting a two-day seminar on Islamic Financial Services Board (IFSB) on 3-4 November in Kuala Lumpur.
China's first gold exchange opens for trade
ARTICLE - The opening of China's first gold exchange on Wednesday in Shanghai signals the end of 50-plus years of government monopoly over the gold market.
Dollar tie-up won't affect currency says Kuwait
KUWAIT - Kuwait said yesterday a decision to link its currency fully to the dollar was not expected to weaken the dinar nor trigger inflation.
Eurozone inflation climbs to 2.2% in October
GERMANY - Inflation in the Eurozone continued to climb in October according to the estimate released on Thursday by Eurostat, the European Commission's Statistical Office.
Sri Lankan central bank bomber gets 200 years jail
SRI LANKA - The leader of the Tamil Tiger rebels Velupillai Prabhakaran has been sentenced to 200-years imprisonment today (Thursday) along with three other "LTTE cadres" by the Colombo High Court in connection with the attack on the Central Bank of Sri…
Tokyo stocks fall more than 1 percent Thursday
JAPAN - Tokyo stocks fell more than 1 percent Thursday after a long awaited government economic package failed to impress investors, who sold select blue chip shares. The dollar slid against the yen.
IMF report on the Policies of the Euro Area
REPORT - International Monetary Fund Staff Report on the Monetary and Exchange Rate Policies of the Euro Area. The report includes sections on movements towards greater central bank transparency, predictability of central bank interest rate decisions,…
Santomero on Process & Progress in Risk Management
SPEECH - In the speech 'Process & Progress in Risk Management' made on 28 October, Anthony Santomero of the Federal Reserve Bank of Philadelphia said the financial sector has come a long way in its risk management efforts. Basel II offers an unusual…
Philadelphia Fed Business Outlook Survey
REPORT - Activity in the region's manufacturing sector weakened this month, according to firms surveyed for the October Business Outlook Survey. Indicators for general activity, new orders, and shipments declined from their readings in September. Overall…