Monetary Policy
Dlamini-Zuma confirms launch of African Union
SOUTH AFRICA - The July launch in Durban of the African Union (AU) will go ahead despite contrary advice obtained from a panel of some of the continent's "eminent people", Foreign Affairs Minister Nkosazana Dlamini-Zuma said yesterday. The AU Act…
Greenspan urges banks to rely on risk management
US - Federal Reserve Chairman Alan Greenspan said Friday that commercial banks and banking regulators need to rely more on the emerging field of risk management to control loan defaults during periods of economic weakness.
Speech by Wim Duisenberg, ECB President, 8 May
SPEECH - In a speech titled 'What are the political consequences of the euro?' Duisenberg said that money is one of the most powerful symbols of a common identity and it is now shared by the 12 European countries of the eurozone.
ECB Monthly Bulletin, May 2002
REPORT - The European Central Bank published its April 2002 Monthly Bulletin on 9 May.
Bank of England News Release
NEWS RELEASE - Bank of England Maintains Interest Rates at 4.0%, 9 May.
UK interest rates kept on hold
UK - The Bank of England's monetary policy committee on Thursday voted to leave interest rates unchanged at 4 per cent, in a decision which underlined the fragility of the UK economic recovery.
Duisenberg 'stands in' for the euro at awards
GERMANY - An awards ceremony, whose previous winners include Tony Blair and Helmut Kohl, gave Wim Duisenberg a chance to prove he is not just a self-effacing, mop-haired central banker, said the FT on Thursday.
UAE central bank to sponsor global hawala meeting
UAE - The UAE Central Bank yesterday announced it is sponsoring an International Conference on Hawala to be held in Abu Dhabi on 15 and 16 May.
Nigerian budget will hurt economy - Central bank
NIGERIA - The Central Bank of Nigeria (CBN) said Wednesday the country's 2002 budget would hurt the economy if it were implemented as it was passed by parliament.
Five years of an independent Bank
FEATURE - It is, for the Bank of England, Independence Day. Just five years ago the Bank of England was given its freedom to set monetary policy.
Poland's c bank under fire for strong zloty
POLAND - The central bank received more criticism yesterday when the Finance Minister Marek Belka said that it should take action to weaken the zloty.
Anthrax found on federal reserve mail
US - The Federal Reserve reported today that about 20 pieces of mail tested positive for traces of anthrax in an initial screening.
Speech by Fed Vice Chairman Roger Ferguson, 9 May
SPEECH - In the speech titled 'Implications of 9/11 for the Financial Services Sector' Ferguson said U.S. financial services firms have gone a long way to bolstering crisis planning to deal with emergencies like the September 11 attacks.
Statement by RBA Governor, Ian MacFarlane
MEDIA RELEASE - Statement from the Reserve Bank of Australia, 8 May.
Federal Reserve Board Press Release
PRESS RELEASE - Monetary Policy Decisions, 7 May.
Reserve Bank of Australia Report
REPORT - Chart Pack - A Collection of Graphs on the Australian Economy and Financial Markets, 3 May.
BIS Press Release and Full Publication
PRESS RELEASE - BIS consolidated international banking statistics for the fourth quarter of 2001, 8 May.
Joint IMF and World Bank report
REPORT - Financial Sector Assessment Program-Experience with the Assessment of Systemically Important Payment Systems prepared by the Staffs of the International Monetary Fund and the World Bank, 19 April.
Australia's reserve bank raises interest rates
AUSTRALIA - Australia's central bank has raised interest rates for the first time in almost two years in a bid to curb inflation and protect its booming economy.
US rates left on hold - for now
US - The US Federal Reserve has left interest rates unchanged at their current 40-year low of 1.75%, citing 'uncertain' growth prospects in the coming months.
Noyer - euro upside not just due to dollar value
GERMANY - European Central Bank vice president Christian Noyer said the overvaluation of the US dollar on the currency markets is not the only reason why he is confident about the euro's upside potential.
Bush to announce nominations to fed board
FEATURE - With Federal Reserve Chairman Alan Greenspan likely nearing retirement, the White House is moving to significantly beef up the central bank's monetary expertise, The Wall Street Journal has reports.
BSP and BoT to cooperate on monetary policy
PHILIPPINES - The Bangko Sentral ng Pilipinas (Central Bank of the Philippines, or BSP) and the Bank of Thailand (BOT) have agreed to increase the amount of technical cooperation on monetary policy and banking supervision, BSP governor Rafael B…
Speech by Anne Krueger of the IMF, 7 May
SPEECH - Krueger said in a speech titled 'Economic Outlook for the Americas' that the economic downturn has been relatively shallow in most countries following the global shocks and adverse local developments experienced last year.