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Bank of England downgrades inflation forecast
UK - The Bank of England said today it was ready to cut interest rates, reversing its position three months ago when it expected to put up the cost of borrowing.
Trinidad: ex-central bank governor helps party
TRINIDAD - Port of Spain, Trinidad: Former Central Bank Governor Winston Dookeran says he is assisting the main opposition United National Congress (UNC) to prepare its manifesto for the next general elections, widely-expected by October.
'Fingerprint' card system test in Malaysia
MALAYSIA - MasterCard International is testing an antifraud system meant to detect counterfeit payment cards by reading the properties and orientation of the microscopic particles in a magnetic stripe.
Egypt central bank reports fall in bank liquidity
EGYPT - The central bank has revealed a continued downturn in commercial banks' performance over the past period. Rates of capital efficiency and of net profits and incomes have gone down. Also, the banks' liquidity crunch has worsened due to a decline…
Nigerian c bank tighten licensing law of new banks
NIGERIA - The Central Bank of Nigeria (CBN) may have soft-pedalled on the licensing of new banks which was put on hold almost three months ago.
Knighthood for Fed's Greenspan
US - Federal Reserve Chairman Alan Greenspan will receive an honorary knighthood from Britain's Queen Elizabeth II. The honour recognises his "contribution global economic stability," the UK government said in announcing the knighthood.
Speech by Masaru Hayami, Bank of Japan, 24 July
SPEECH - In a speech titled 'The Challenges Facing Japan's Economy' Hayami said that the dollar's current weakness is not surprising given its history of volatility, though he hoped it will not fall further. He added that the dollar's recent weakness on…
Russians stuff $80 billion under mattresses
RUSSIA - Russians have nearly $80 billion "stuffed under mattresses" - more cash than in US circulation - which is now trickling into stocks amid improved trust in corporate governance, Russia's securities watchdog chief said on Tuesday.
How much do you know about the Federal Reserve?
QUIZ - In a week that sees the Federal Reserve decide on interest rates and on the day that Alan Greenspan finds out he will receive a knighthood from the Queen of England, the Washington Post provides a short 10 question quiz on the Federal Reserve.
No interest rate change in Norway
NORWAY - Norway's central bank kept key interest rates on hold on Wednesday, as expected by analysts, with inflationary pressures in Norway's oil-backed economy offset by an international slowdown.
Rogoff Critique Should be No Surprise
NEWS RELEASE - A Letter to the Editor, By Graham Hacche, Deputy Director, External Relations Department, International Monetary Fund, Submitted to The Times but not published, 9 July.
Defending the I.M.F.
NEWS BRIEF - A Letter to the Editor of The New Yorker By Graham Hacche, Deputy Director, External Relations Department, International Monetary Fund, 5 August.
Sveriges Riksbank Press Release
PRESS RELEASE - Stable Swedish financial sector according to the IMF, 7 August.
Norges Bank's press conference, 7 August
PRESS CONFERENCE - Monetary policy meeting of Norges Bank's Executive Board, 7 August.
Australia leaves rates steady
AUSTRALIA - Australia's central bank left interest rates unchanged Wednesday, amid global volatility on the financial markets and warning signs about the strength of the U.S. economic recovery.
Norges Bank keeps interest rates unchanged
PRESS RELEASE - Interest rates were left unchanged at Norges Bank's Executive Board meeting on 7 August 2002.
ECB call for papers
PRESS RELEASE - Call for papers for a volume on Foreign reserves risk management to be submitted by 15 February 2003.
Bank of England Inflation Report, August 2002
REPORT - The Bank of England on Wednesday published its Inflation Report for August 2002. The Bank expects inflation to remain below the government's 2.5 per cent target for the whole of the next two years, according to the quarterly Inflation Report…
Paul O'Neill heals rift with Brazil on economy
US - Paul O'Neill and the Brazil government apparently saw eye to eye on Monday, with the US treasury secretary saying US support for Brazil had been consistent and his meetings with Brazilian policymakers "very cordial".
Brown criticised for delay in naming Bank deputy
UK - Gordon Brown, the UK chancellor, faced criticism on Monday over the delay in appointing a new deputy governor for the Bank of England. Leaving the possibility that the 9 member Monetary policy Committee will have to sit a spare seat during what…
The price of a common currency
ARTICLE - Europe would soon regret any relaxation of the stability pact, argues Horst Siebert in the Financial Times, Tuesday.
Taiwan dollar drops in wake of president's remarks
TAIWAN - The New Taiwan dollar yesterday fell against its US counterpart, impacted by Taiwan President Chen Shui-bian's remarks on cross-strait relations over the weekend. The unit was down NT$0.102 to close at NT$33.825 on the Taipei foreign exchange…
Economic Review from the Atlanta Fed Bank
RESEARCH - The Federal Reserve Bank of Atlanta has published its Economic Review for the Second Quarter 2002. The Review features articles including 'The Economics of Payment Finality' and Asset Returns and Economic Risk.
Ecuador bank chief predicts 6% growth for 2003
ECUADOR - Ecuador's economy is set to expand by six per cent next year, up from four per cent growth this year, the country's central bank president, Mauricio Yepez, predicted on Friday.