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Many hurdles before one African currency - Mboweni
SOUTH AFRICA - Many hurdles would have to be overcome before the newly-formed African Union (AU) could form a single currency for the continent, South African Reserve Bank Governor Tito Mboweni said on Thursday.
BIS consolidated international banking statistics
REPORT - The BIS consolidated international banking statistics - first quarter 2002, released 26 July. The statistics highlight a sharp decline in Japanese banks international positions during the first quarter of this year. Over the same period in…
BIS Press Release
PRESS RELEASE - BIS consolidated banking statistics for the first quarter of 2002, 26 July.
Sources challenge role of IMF led Argentina panel
ARGENTINA - Insiders close to the talks currently being held suggest the real purpose of the panel of wise men picked by the IMF to help Argentina is not to give economic advice but rather to decide how to allocate the huge losses incurred by Argentina's…
Rumours persist of emergency fed meeting
US - The US Federal Reserve refused to comment Wednesday on rumours that it was considering an emergency meeting in response to the collapse in the stock markets.
Putin and c bank chief discuss inflation, gold
RUSSIA - On Wednesday Russian President Vladimir Putin and Central Bank chief Sergey Ignatyev discussed the macroeconomic situation in Russia.
Trinidad economy still strong - central bank head
TRINIDAD - The Trinidad and Tobago government has admitted a slowdown in the economy has occurred, but newly-appointed Central Bank Governor Ewart Williams says the economy remains strong.
Lower inflation in Australia
AUSTRALIA - Australia's second-quarter inflation figure has come in slightly lower than expected at 0.7 per cent, reducing the chances of another increase in interest rates next month.
Interview with Pridiyathorn Devakula
INTERVIEW - The governor of the Bank of Thailand, Pridiyathorn Devakula, has given an interview to the Far Eastern Economic Review in which he describes himself as a 'problem solver'.
Orderly correction fortuitous
LETTER - Letter published in Thursday's edition of the London Financial Times, 25 July, from C. Fred Bergsten, Director, Institute for International Economics, Washington DC, US.
Europe's instability pact
ARTICLE - Thursday's Financial Times in London published an article by Paul De Grauwe who recently stood unsuccessfully as a candidate for the post of Vice President of the European Central Bank.
IMF News Brief
NEWS BRIEF - IMF Managing Director Horst Kohler Congratulates Yusuke Horiguchi on Appointment as First Deputy Managing Director of the Institute of International Finance, 23 July.
Minutes from the Sveriges Riksbank Board meeting
MINUTES - Minutes of the Sveriges Riksbank Executive Board meeting on 4 July 2002, released 25 July. The Board noted that the June Inflation Report's main scenario, with a gradual recovery, still holds but there are now signs that activity may not…
Australian Treasury Press Release
PRESS RELEASE - Re-appointment of Mr Hugh Morgan to the Board of the Reserve Bank of Australia, 24 July.
Monetary developments in the euro area
REPORT - Monetary developments in the euro area: June 2002, released 25 July. The annual rate of growth of M3 decreased to 7.1% in June 2002, from 7.7% in May (revised downwards from 7.8%). The three-month average of the annual growth rates of M3 over…
Speech by David Dodge of Bank of Canada, 24 July
SPEECH - In his opening statement on the release of the Monetary Policy Report Update Dodge said that keeping inflation low and stable is the best contribution that monetary policy can make to sustained economic growth in Canada.
Bank of Canada, Monetary Policy Report Update
REPORT - Bank of Canada, Monetary Policy Report Update, July 2002. The report projects economic growth for Canada in the range of 3 to 4 per cent to the end of 2003. The report also says the Bank is committed to achieving the 2 per cent target for…
Bank of Canada Press Release
PRESS RELEASE - Bank of Canada Releases Monetary Policy Report Update, 24 July.
Bank of France's Trichet sees euro zone growth
FRANCE - Bank of France governor Jean-Claude Trichet urged investors to "stay calm" during the slump in global financial markets, saying Wednesday that the downturn should not prevent growth in the 12-nation euro zone.
Speech by Wim Duisenberg, ECB President, 24 July
SPEECH - On receiving an award, the Grand Cross 1st class of the Order of Merit of the Federal Republic of Germany, Duisenberg said "this expression of confidence makes the responsibility I am bearing as President of the ECB indeed feel somewhat lighter".
ECB Press Release
PRESS RELEASE - Award for Dr. Willem F. Duisenberg, President of the European Central Bank, 24 July.
US has learnt lessons from the Japanese experience
LETTER - Letter published in the UK edition of the Financial Times, 24 July, from Christopher Iggo.
Inquiry says fx controls contributed to rand fall
SOUTH AFRICA - A public inquiry into the sharp fall of the South African currency last year blames the country's slow pace of privatisation and the tightening of exchange controls.
Floating rates are good for Zloty says Balcerowicz
POLAND - "We won't have fast economic growth if we don't heal public finances," said Leszek Balcerowicz, governor of Poland's central bank, in a speech before parliament on Tuesday.