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ECB's Quaden says Europe's economy struggling
BELGIUM - European Central Bank council member Guy Quaden said the economy is struggling to expand and higher oil prices may curb spending by companies and consumers.
China revises internal bank rules
CHINA - China's central bank introduced revised rules on the internal controls of commercial banks yesterday, in a further effort to reduce the possibility of financial risks.
Greenspan to get honorary knighthood on Thursday
US - Federal Reserve chairman Alan Greenspan will receive an honorary knighthood from Queen Elizabeth II next week, Buckingham Palace has said.
Scotland to be first to print its own euros?
UK - The Bank of Scotland chiefs are fronting a campaign, which aims to allow Scotland to become the first region in the European Union to print its own euros, if the pound is scrapped.
MasterCard follows Visa in RBA court challenge
AUSTRALIA - Like Visa, MasterCard revealed on Friday that it will appeal the Reserve Bank of Australia's proposed changes to the credit card system.
Japanese yields climb as bond auction fails
JAPAN - Japanese bonds headed for their biggest losing week in 3 years as a sale of 10-year government benchmark securities failed for the first time to attract sufficient bidders for the debt on offer.
Inflation target regime debated in South Africa
SOUTH AFRICA - Economists briefing Parliament's finance committee endorsed the country's inflation targeting regime on Friday, but offered conflicting advice on how to improve it.
Reserve Bank of New Zealand Press Release
PRESS RELEASE - Monetary Policy Challenge winner announced, 18 September.
Speech by C Allsopp, Bank of England, 19 Sep
SPEECH - In the speech titled 'Macroeconomic Policy Rules in Theory and in Practice' Allsopp argued against using interest rates to burst asset price bubbles. "In my view, the most persuasive argument against using interest rates to moderate…
South African Reserve Bank Quarterly Bulletin
REPORT - The South African Reserve Bank has published its Quarterly Bulletin for September 2002. In the Bulletin the SARB report that deteriorating financial market conditions could dampen the global recovery. Falling stock market prices, through various…
Speech by Tito Mboweni, RB of South Africa, 18 Sep
SPEECH - In the speech Mboweni said South Africa is regarded as having a dual economy. On the one hand it is an emerging market with its fair share of challenges regarding economic growth, wealth distribution, and inflation. In particular, we face the…
Speech by Governor, State Bank of Pakistan, 28 Jun
SPEECH - In the Inaugural address at the Financial Sector Conference On Agriculture Husain said agriculture is by far the most important sector for Pakistan's economy. The forward and backward linkages to the rest of the domestic economy, to the…
Speech by Svein Gjedrem of Norges Bank, 6 Sep
SPEECH - In the speech titled 'The role of the Central Bank' Gjedrem said that the Norwegian economic system has undergone substantial changes over the past ten to twenty years. The model based on detailed control of capital, credit and interest rates…
Speech by Governor, State Bank of Pakistan, 1 Jul
SPEECH - In the speech titled 'Pakistan and the IMF : 1988-2002' Husain said the image of the IMF in developing countries and in Pakistan remains tarnished because of the burden of historical legacy, the increasing debate about the efficacy of the IMF…
Irish association calls for central bank reform
IRELAND - The Consumers' Association of Ireland has called for a lessening of the power of the Department of Finance and the Central Bank in how the new financial regulator will work.
No global recession likely - Fed's McDonough
US - New York Federal Reserve President William McDonough said on Thursday the chances of a world recession were extremely low, despite an expected slowdown in growth on the back of higher oil prices.
Central Bank of Barbados wins netball game
BARBADOS - Central Bank of Barbados (CBB) defeated Customs 17-12 in a low keyed match-up to open the National Sports Council's (NSC) Inter-Governmental netball competition on Tuesday at the Netball Stadium.
Visa plans legal action against RBA
AUSTRALIA - The largest credit card company operating in Australia, Visa International, has launched an unprecedented legal action against the Reserve Bank of Australia to overturn reforms Visa claims will discourage its 10 million card holders from…
Mid-Atlantic factory output edges up in Sept
US - Manufacturing activity in the U.S. mid-Atlantic region turned positive in September, providing a ray of hope that the summer slowdown in the factory sector was temporary.
Canada's Dodge leans toward rate hike
CANADA - David Dodge, the governor of the Bank of Canada, indicated Thursday that external factors would guide the central bank's short-term monetary policy, but the bank's preference would be to raise interest rates to slow down the domestic economy.
Brazil leaves interest rates unchanged
BRAZIL - Brazil's central bank has said it will leave interest rates unchanged at 18% until after the forthcoming presidential election, following fresh concerns over the country's economy.
ECB Press Release
PRESS RELEASE - ECB hosts consultation on integration of short-term securities markets, 16 September.
ECB Monthly Bulletin, September 2002
REPORT - The European Central Bank published its September 2002 Monthly Bulletin on 19 September. In the bulletin the ECB said that while the euro zone economy was still on a path of modest growth for this year, "there are downside risks to the economic…