Central Banking staff
Follow Central Banking
Articles by Central Banking staff
Fed holds rates steady but with rare split vote
US - The Federal Reserve on Tuesday held interest rates steady despite a hesitant economic recovery and worries about a possible war with Iraq. In an unusual move the meeting saw dissent, with two members calling for a rate reduction. This was the first…
Honour Greenspan and Lady Prudence
ARTICLE - When the Queen knights Alan Greenspan tomorrow at Balmoral it will raise profound questions for the world's other central bankers, reported the London edition of the FT on Wednesday in an article.
Polish gov't freezes top state officials salaries
POLAND - The government decided to freeze salaries of top state officials in 2003, government spokesman Michal Tober told a news conference on Tuesday. The freeze includes all senior central bank staff.
Ireland's central bank launches insurance guide
IRELAND - A new information leaflet for consumers about buying investment and insurance products was launched by the Irish central bank on Tuesday.
Central Bank of Iceland Governor resigns
ICELAND - Central Bank of Iceland Governor Finnur Ingolfsson has been appointed Chief Executive Officer of the insurance company VS Ltd and has resigned as Governor of the Central Bank of Iceland.
RBI liberalises exchange control procedures
INDIA - The Reserve Bank of India on Wednesday said banks authorised to deal in foreign exchange may permit importers in India to avail short-term credit for periods less than three years and amount not in excess of $20 million per import transaction…
Poland's central bank cuts rates
POLAND - Poland's central bank on Wednesday reduced its key interest rates by a half percentage point, making its sixth cut this year against the backdrop of a sluggish economy and falling inflation.
CBR to introduce for ex swap deals on 26 Sept
RUSSIA - The Central Bank of Russia is introducing on 26 September an additional instrument to the bank refinancing system based on the use of foreign currency swap deals.
IMF report sees global economy recovering
US - Although downside risks are rising, the global economy is slowly recovering from a worldwide recession, the International Monetary Fund said Wednesday.
Argentina threatens loan default
ARGENTINA - Argentina has raised the pressure on international lenders to agree a new cash lifeline, threatening default if extra money is not forthcoming.
Federal Reserve Board Press Release
PRESS RELEASE - The Federal Open Market Committee decided today to keep its target for the federal funds rate unchanged at 1 3/4 percent, 24 September.
Speech by Fed Chairman Alan Greenspan, 25 Sep
SPEECH - In the speech titled 'Policy Coordination' Greenspan reflected on the historic association between the Bank of England and the Federal Reserve with ties cemented in the 1920's. Greenspan said that London has stayed on top in the provision of…
Speech by M R P Devakula, Bank of Thailand, 26 Aug
SPEECH - In the speech Devakula said that as financial regulators, one of the Bank of Thailand's main tasks is to provide a prudential framework ensuring the overall improvement of risk management of financial institutions. In the case of Thailand…
Speech by Governor, State Bank of Pakistan, 1 May
SPEECH - In the speech titled 'Economic Reforms and Macroeconomic Management in Pakistan (1999-2001)' Husain said the strategy for economic revival Pakistan pursued since December 1999 was designed to include four key elements, restoration of…
Speech by Governor, State Bank of Pakistan, 10 Jun
SPEECH - In the speech titled 'Is State Bank of Pakistan doing its job?' Husain said since July 2001 Pakistan has been able to maintain stability in its exchange rate. Had the country not developed the cushion of reserves that it has, there was a strong…
UK Treasury Press Release
PRESS RELEASE - Chancellor and Sir Edward George pledge more money for Commonwealth Education Fund, 24 September. Chancellor Gordon Brown, and Governor of the Bank of England Sir Edward George, today announced the auction of low-numbered £5 banknotes,…
MAS issues new risk-based capital requirements
SINGAPORE - With effect from 1 October 2002, holders of Capital Markets Services (CMS) licences will be subject to new risk-based capital requirements under a subsidiary legislation of the Securities and Futures Act 2001.
Payments operation to start in Serbia, Montenegro
YUGOSLAVIA - Yugoslav National Bank Governor Mladjan Dinkic has announced setting up of the payments operations system between Serbia and Montenegro soon.
Poverty too high says head of Trinidad's c bank
TRINIDAD - The governor of the Central Bank of Trinidad and Tobago, Ewart Williams, says while the country has experienced economic growth over the last eight years, not enough had been done to improve the quality of life for its citizens.
Bank of Albania brief gov't on money launder fight
ALBANIA - Bank of Albania governor Shkelqim Cani reported in a hearing session in parliament on 23 September, evening, on measures undertaken from the Central Bank, concerning the war on money laundering, as one of the most important means of the war on…
India's central bank opens note exchange centres
INDIA - The Reserve Bank of India has opened centres for the exchange of soiled notes at its three branches in Mumbai.
Thai central bank puts loans case to Basel panel
THAILAND - The Bank of Thailand has asked member countries of BIS Basel Committee to curtail loans to hedge funds, according to Thirachai Phuvanatnaranubala, the central bank's deputy governor overseeing stability of financial institutions.
Germany 'at risk of breaching deficit limit'
GERMANY - The Bundesbank yesterday warned that Germany was at risk of breaching the European Union's 3 per cent deficit limit this year and cast doubt on its chances of balancing its budget by 2004.
JGBs up as BoJ buying prompts short-covering
JAPAN - Japanese government bonds rebounded on Tuesday amid bargain-hunting following last week's tumble and as sentiment improved following a successful bond-buying operation by the central bank.