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Change at Japanese regulator welcomed by reformers
JAPAN - The Japanese government on Thursday named Shokichi Takagi as head of the Financial Services Agency - a surprise move that raised hopes of a more radical approach by the supervisory body to the bad debt problem plaguing Japanese banks.
Kohler urges caution amid market volatility
ARTICLE - Horst Kohler gave an interview to the London Financial Times on Thursday in which he said that the biggest risk in today's uncertain financial markets is to "give the wrong signals and exaggerate problems so that they become a self- fulfilling…
Euro 'would boost UK by ending volatility'
UK - Entry into the euro would boost investment in Britain by ending exchange rate volatility in Britain's dominant export market, according to a paper published by the National Institute of Economic and Social Research on Thursday.
The costs of sterling
ARTICLE - History shows that Britain's separate currency has damaged the structure, balance and size of its economy writes David Cobham in Friday's Financial Times.
Letter from Joseph E Stiglitz to the FT
LETTER - In a letter to the Financial Times published on Friday Professor Joseph E. Stiglitz continues the slanging match with the IMF's Ken Rogoff.
Speech by Fed Reserve Governor Ed Gramlich, 5 July
SPEECH - In a speech to the International Research Forum on Monetary Policy Gramlich said that central banks could use more research to help address certain policy questions, including those related to specific currency regimes and the short-run impact…
Israel's c bank chief criticizes inadequate budget
ISRAEL - Governor of the Bank of Israel David Klein says financial stability is not yet assured. Speaking before the Israel Democracy Institute's annual Caesarea conference, being held this year in Jerusalem, he said the task of restoring economic…
Real rises after central bank resumes intervention
BRAZIL - The real rose after the Brazilian central bank said it is resuming its former policy of daily interventions in the foreign exchange market, dealers said.
BI to make amendments to the constitution
ARTICLE - To meet the demands of reform, the People's Consultative Assembly (MPR) have amended the 1945 Constitution. Subsequent to the first, second and third phase of amendments, a number of articles are going through amendments in the current fourth…
Swedish Riksbank leaves repo rate at 4.25 pct
SWEDEN - The Riksbank said it has decided to leave the repo rate unchanged at 4.25 pct.
Bulgarian parliament adopts BNB report for 2001
BULGARIA - The 2001 annual report of the National Bank of Bulgaria, the central bank, was approved in parliament on 4 July. The vote was 127-5, with 13 abstentions.
Spain's central bank to close retail offices
SPAIN - Banco de Espana, Spain's central bank, intends to close down several of its 52 regional offices across Spain in order to reduce costs. At present, the authority operates one branch in every provincial capital of the country. Management intends to…
Iran plans its first bond issue since 1979
IRAN - Iran hopes to next week issue its first international bond since the 1979 Islamic revolution, according to Mohsen Noorbakhsh, the governor of Iran's central bank.
Press Release from Sweden's central bank
PRESS RELEASE - Repo rate left unchanged at 4.25 per cent, 5 July.
Press Release from Sweden's central bank
PRESS RELEASE - New head for the Secretariat of the Executive Board at the Riksbank, 4 July.
ECB Press Conference
PRESS CONFERENCE - Transcript of the questions asked and the answers given by Dr. Willem F. Duisenberg, President of the ECB, Dr. Lucas Papademos, Vice-President of the ECB and Yves Mersch, Governor of the Banque centrale du Luxembourg, 4 July.
National Institute Economic Review, April 2002
RESEARCH - Research articles from the National Institute of Economic and Social Research.
Germany clears way for new bank rules
GERMANY - The major remaining barrier to a global shake-up of bank reserves has been removed after the German government agreed to a politically-sensitive compromise over lending to small companies.
Bank of England leaves interest rates at 4%
UK - The Bank of England's monetary policy committee on Thursday left its benchmark interest rate unchanged at 4 per cent, a 38-year low.
China's central bank tackles money laundering
CHINA - The People's Bank of China has formed a division to combat money laundering, a crime that involved up to 200 billion yuan (HK$188.6 billion) on the mainland last year.
Argentina to make payment on IMF debt Thursday
ARGENTINA - Argentina will today make a scheduled 52 mln US$ payment on its IMF debt, said central bank chairman Aldo Pignanelli.
ECB holds rates steady
GERMANY - The European Central Bank's governing council decided on Thursday to leave the eurozone's benchmark interest rate unchanged at 3.25 per cent.
Brazil bank acts to boost Real
BRAZIL - Brazil's central bank said yesterday it would inject $1.5bn (£976m) into the currency market this month to help steady the Real, which has fallen to a record low amid uncertainties ahead of October's presidential elections.