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US keeps interest rates unchanged
US - The US central bank, the Federal Reserve, has left interest rates unchanged Wednesday at 1.75%, saying signs for an economic recovery were "promising".
IMF tells Argentina to cut spending
ARGENTINA - The International Monetary Fund (IMF) has returned to Argentina to discuss the framework of a new financial aid package for cash-starved government in Buenos Aires.
Peru's central bank moves to inflation targeting
PERU - Peru's central bank has made inflation targeting its main tool for signalling the direction of monetary policy, Central Reserve Bank of Peru President Richard Webb said Tuesday.
IMF supports Indonesian plan for independent team
INDONESIA - Finance Minister Boediono said that the International Monetary Fund (IMF) has lent its support to plans to create an independent team to determine the burden-sharing for the controversial Bank Indonesia emergency loan (BLBI).
MPs send amendment to law on CNB to final reading
CZECH REPUBLIC - The Chamber of Deputies today sent to a final reading the government-sponsored amendment to the law on the Czech National Bank (CNB), which corrects the drawbacks of the previous amendment criticised by the European Union.
China vows to safeguard stability of stock market
CHINA - China has promised investors to safeguard the "stability" of the stock market after a week of sharp price movements triggered by continuing confusion over the sale of the controlling stake held in most listed companies by government entities.
Regulator warns about health of insurance industry
UK - The Financial Services Authority has warned that it is important for the long-term health of the insurance industry and clients that its capital base is strengthened.
ECB on collision course over plan to regulate EU
EUROPE - The European Central Bank has put itself on a collision course with European financial regulators, including Britain's Financial Services Authority, over the ECB's ambitions to play a role in banking supervision.
Finance and Economics Discussion Series
RESEARCH - Federal Reserve Finance and Economics Discussion Series, Monetary Policy Rules and the Great Inflation by Athanasios Orphanides, January 2002.
Bank of England - News Release
NEWS RELEASE - Financial Sanctions: Afghanistan (Taliban and Usama Bin Laden), 28 January 2002.
US economy shows unexpected strength
US - The US economy grew 0.2% in the last three months of 2001, official data has shown.
Press Release from the Bank of Canada
PRESS RELEASE - Bank of Canada Governor reviews key developments of last year, 28 January.
Speech by David Dodge, Governor of Bank of Canada
SPEECH - Dodge said in the speech titled 'Challenges and Changes in an Eventful Year' that an unhelpful depreciation of the Canadian dollar over recent weeks did not reflect the encouraging signs of a pickup in the economy and that the exchange rate was…
Speech by Dr Y.V. Reddy of Reserve Bank of India
SPEECH - In the speech titled 'Parameters of Monetary Policy in India' Reddy said the central bank might consider a package of measures announcing a one-time reduction in the CRR to three percent, to expedite development of markets, accompanied by…
IMF's Koehler urges coherent plan from Argentina
US - The head of the International Monetary Fund (IMF) on Monday urged Argentine authorities to develop a comprehensive and coherent economic strategy that the lender can back with loans.
Speech by Horst Kohler, Managing Director, IMF
SPEECH - In his speech titled 'Working for a Better Globalization' Kohler urged Argentine authorities to develop a comprehensive and coherent economic strategy that the lender can back with loans.
China considers central bank role
CHINA - China's policy makers appear to be contemplating the future role of the People's Bank of China as banking supervisor as the country prepares to open its financial system to foreign competition.
Bank of Latvia president nominates his deputy
LATVIA - Bank of Latvia president Ilmars Rimsevics has nominated as his deputy Andris Ruselis, the vice-president of Balta and Latva insurance companies, reported the Latvian parliament press service.
Govt plans supervisory board for Bank Indonesia
INDONESIA - The government plans to set up a supervisory board within Bank Indonesia as one of several measures under the new central bank bill to increase its accountability.
Australia's Res Bank appoint head of domestic mkts
AUSTRALIA - The Reserve Bank of Australia said Tuesday it has appointed Philip Lowe as head of its domestic markets department.
ECB's Issing points to signs of recovery
SPAIN - Otmar Issing, the chief economist of the European Central Bank, said in an interview "the first signs of recovery are now appearing, but we still have to see what will be its scale. And we cannot rule out that it will end up being stronger than…
IMF team says dollar best currency for Afghanistan
AFGHANISTAN - A team of International Monetary Fund and World Bank experts visiting Afghanistan said on Tuesday it would make sense for the country to switch to the U.S. dollar in the short term.
Japan jobless rate hits new high
JAPAN - Japan's unemployment has reached a new record high of 5.6%.