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China central bank urges banks to step up controls
CHINA - The People's Bank of China (PBOC), the country's central bank, on Wednesday issued guidelines on commercial banks' internal control, in a bid to urge the banks to improve their control system, minimize financial risks and ensure the safety of the…
BoJ plans radical share buying idea to aid banks
JAPAN - In an unprecedented move, the Bank of Japan on Wednesday said it planned to buy shares from banks directly in an effort to prop up the faltering stock market.
Bank of Japan Press Release
PRESS RELEASE - On today's decision at the Monetary Policy Meeting, 18 September.
Bank of Japan Public Statement
STATEMENT - New Initiative Toward Financial System Stability, 18 September.
Bank of England Monetary Policy Committee Minutes
MINUTES - Minutes of the Bank of England's Monetary Policy Committee Meeting, 4 and 5 September 2002. The MPC voted unanimously in favour of maintaining the repo rate at 4%. The Committee agreed that the world economy was on balance a little weaker than…
International Monetary Fund - Annual Report 2002
ANNUAL REPORT - The International Monetary Fund has published its Annual Report for the year ended 2002. In the Annual Report the IMF report that in 2001 the world economy experienced a synchronized, widespread slowdown after the unusually strong…
Speech by Svein Gjedrem of Norges Bank, 30 Aug
SPEECH - Gjedrem said in the speech titled 'Monetary policy, securities markets and municipalities' that Norway has a well-developed financial system, but it has a small bond market compared with other countries. In the long run, a larger and more liquid…
Speech by W. McDonough, New York Fed Bank, 11 Sep
SPEECH - In the speech McDonough said 'sadly, all too many members of the inner circle of the business elite participated in the over-expansion of executive compensation'. He was speaking to an audience attending a 11 September memorial service at…
Speech by Governor, State Bank of Pakistan, 1 Aug
SPEECH - In the speech titled 'Why does Pakistan have to accumulate foreign reserves?' Husain said "the stability in the exchange rate, the reversal of flight capital, the arrest in dollarisation of the economy, low inflation, the reduction in interest…
Speech by A Fazio, Governor Bank of Italy, 21 July
SPEECH - In the speech titled 'Globalization, law, the person' Fazio said with the increase in wealth, distributive inequalities have been aggravated. Some countries have not shared in the benefits of expanding trade. International crises ultimately…
ECB Press Release
PRESS RELEASE - "E-payments in Europe" conference and public consultation, 16 September. The European Central Bank (ECB) is holding a conference on "E-payments in Europe" on 19 November 2002, focusing on issues related to e-payment initiatives, security…
West African bank raid suspect arrested
BURKINO FASO - Police have arrested the chief suspect in a $3m robbery at the West African central bank. The man detained was a security guard at the central bank.
New Zealand raises inflation target
NEW ZEALAND - New Zealand raised its inflation target in the New Policy Targets Agreement announced Tuesday giving new central bank Governor Alan Bollard more leeway to avoid sudden interest rate increases that might choke economic expansion.
Bank of Japan warned, fight deflation
JAPAN - The Bank of Japan (BoJ) should cooperate with a push by the government to halt deflation, chief cabinet secretary Yasuo Fukuda said today as central bank board members convened for a two-day policy meeting.
Developing nation bankruptcy treaty may emerge
ARTICLE - With financial instability rippling through Latin America, momentum appears to be building for an international plan to make it easier for developing nations to declare bankruptcy and renegotiate their foreign debts, reports the Wall Street…
Russians opt for euro over dollar
RUSSIA - Russians are buying more euros than dollars for the first time since the new European currency became available, according to the central bank.
MAS issues guidelines on internet banking
SINGAPORE - The Monetary Authority of Singapore has called on banks to address the rising danger of new threats to Internet banking, including attacks by hackers.
South African inflation hits record high
SOUTH AFRICA - South Africa's targeted CPIX inflation measure vaulted to a record high in August, official data showed on Tuesday, supporting the Reserve Bank's decision last week to raise interest rates for the fourth time this year.
Russia's central bank to decide on Russia-Belarus
RUSSIA - The Central Bank of Russia is to shape the inflation and currency rates in the Russia-Belarus Union, said Russian Vice-Premier and Finance Minister Alexei Kudrin at a Tuesday session in Moscow of the Council of Ministers of the Russia-Belarus…
IMF Press Release
PRESS RELEASE - IMF Managing Director Horst Kohler, Remarks on China Visit, 13 September.
Speech by Robert Parry, San Francisco Fed, 12 Sep
SPEECH - In the speech titled 'The Economic Outlook for the Nation and the Region: A Monetary Policymakers View' Parry said "my basic view is that we're now in the midst of a modest expansion". While the recession hasn't been officially declared over yet…
Reserve Bank of New Zealand Press Release
PRESS RELEASE - New Policy Targets Agreement, Joint Press Statement by Finance Minister Michael Cullen and incoming Reserve Bank Governor Alan Bollard, 17 September 2002.
Speech by Governor, State Bank of Pakistan, 15 Aug
SPEECH - In the speech titled 'Marketing Pakistan's Image' Husain said "in the end, I would just like to underscore a basic point: the development of a brand called Pakistan and the subsequent marketing of a positive image for Pakistan requires a…
Speech by Jurgen Stark of the Bundesbank, 6 Sep
SPEECH - In the speech titled 'Cyclical and architectural issues of the international economy' Stark said even though recent news about the world economy has not been exactly cheerful, judging by the data now available, the world economy remains on the…