Central Banks
Response to new Zimbabwe cheques encouraging
Zimbabwe's new bearer cheques introduced on Tuesday 23 September seem to have had some effect, according to The Harare Herald, with reports saying shorter queues, and the expression of relief by ordinary people means the radical idea may succeed.
Hague Arbitral Tribunal decision on BIS shares
Final decision of the Hague Arbitral Tribunal on the withdrawal of privately held shares of the BIS, announced on 22 September.
Monetary Options for Postwar Iraq
On October 15th, Iraq will issue a new unified dinar under the auspices of its new, "independent" central bank. This article published by the Cato Institute, "Monetary Options for Postwar Iraq" says the move will be a half-baked affair, at best, and is…
Riksbank issues new commemorative coins
The Sveriges Riksbank has issued a coin to commemorate the 30th anniversary of King Carl XVI Gustaf's accession to the throne, 24 September.
Riksbank's Nyberg-Sweden after the euro referendum
Deputy Governor of the Sveriges Riksbank Lars Nyberg spoke on 24 September at Swedbank Capital Markets Day about the Riksbank and the situation of the Swedish economy following the referendum.
St Louis Fed's Central Banker, Fall 2003
The Fall 2003 edition of the St. Louis Fed's Central Banker magazine has been published. The latest issue carries a report on what community bankers said at a recent meeting with the St. Louis Fed and other regulatory agencies on reducing regulatory…
Central Bank of Iran - Annual Report 2001-2002
The Central Bank of Iran has published its Annual Report for the year ended (1380) 2000-2001. The Iranian economy performed positively in 2001/02, the Annual Report said. Despite fluctuations of crude oil prices in world markets, especially in the…
Lebanon's central bank denies targeting Hamas
The Central Bank of Lebanon has attempted to deflect criticism of it by denying on Tuesday 23 September claims that it had issued a request to freeze the assets of Hamas and other Palestinian groups, according to The Daily Star.
Zeti named Asia's best central bank governor
Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz has been named Asia's best central bank governor in a recent poll, according to The Star Online. Zeti, who is Asia's first female central bank governor, describes herself as a "career central…
Poland's central bank warns on public finances
Polish central bank chief Leszek Balcerowicz has said in an interview that unless a credible programme exists to repair budget finances, Poland's long term economic growth will be restricted, according to the Financial Times.
Philippines central bank urges further fiscal rest
With an election scheduled for May 2004, Rafael Buenaventura of the Philippine central bank said he is confident that the government would resist the temptation to increase spending in the run up to the polls, Reuters reports. "I don't they will be…
Vepa Kamesam's term at RBI extended by 3 months
Reserve Bank of India deputy governor Vepa Kamesam has been given a second three-month extension to his contract, according to Busines Standard. With this, Kamesam has become the first deputy governor to hold the position beyond the age of 62.
Weak job market poses economic risk-Fed's Broaddus
Speaking to a meeting of the Southern Governors' Association in West Virginia on Tuesday 23 September, reported by Reuters, Richmond Fed president Alfred Broaddus said he believed that consensus forecasts for economic growth at about a 4.5 percent annual…
Zimbabwe begins issuing new 'money'
The Reserve Bank of Zimbabwe launched its new temporary bank notes on Tuesday 23 September, according to Sapa. The so-called "bearer checks" resemble bank notes but will only be valid as legal tender until January 31, the Reserve Bank said.
New Iraqi currency 'will not be fixed to dollar'
The governor of the central bank of Iraq, Sinan al-Shabibi, has said that Iraq is not considering fixing its new dinar to the dollar, according to the Financial Times. But he added, "The question in the market is what is a float. We don't want it to…
Kohler: don't over-interpret market reactions
Horst Kohler has warned against an over-reaction to exchange rate movements following statements released at the G7 Dubai meeting, according to AFX UK. The G7 said more flexibility is needed in exchange rates "to promote smooth and widespread adjustments…
Mervyn's smile
When the Bank of England's top brass was hauled in front of the Treasury Select Committee to explain their August Inflation Report, Mervyn King, the Bank's new governor, stole the show - although the committee did probe the voting habits of some of the…
Marchenko's prize
Grigori Marchenko, the unassuming but hugely competent governor of the National Bank of Kazakhstan, has received recognition for his instrumental role in turning his country into the most prosperous economy in the region by winning Euromoney's 2003…
Tips for Tito?
Following the recent to-do over South African Reserve Bank governor Tito Mboweni's swelling pay package, and the subsequent support he received from his opposite number in the finance ministry, Trevor Manuel, Mboweni might do well to take a leaf out of…
Rick's leadership rewarded at the Solomon Islands
One person it was good to see at the IMF meeting in Dubai was Rick Houenipwela, the universally popular and respected governor of the Central Bank of the Solomon Islands. There's another governor who has been through a lot recently.
New World Bank Chief Economist
Francois Bourguignon has been appointed chief economist at the World Bank, President James D. Wolfensohn announced on Friday 19 September. He succeeds Nicholas Stern, who will leave the Bank Group in October
Europe should do more - Snow
John Snow, the U.S. Treasury Secretary, took aim at European policymakers, urging finance ministers and central bankers to do more to boost economic growth. Mr. Snow demanded "more accommodative" interest rates and budgets. His spokesman, Rob Nichols,…
G7 communique
Statement of G-7 Finance Ministers and Central Bank Governors, Dubai, United Arab Emirates, September 20, 2003
Philadelphia Fed Business Outlook Survey, Sep 2003
Manufacturing firms reported an increase in new orders in September according to firms surveyed for the Philadelphia Fed's Business Outlook Survey, September 2003. New orders and shipments grew again this month, but employment declined, the survey said.