Central Banks
Welteke plays down EMU warnings ahead of Nice
Bundesbank President Ernst Welteke on Thursday played down his earlier warnings about allowing eastern European countries into the Eurozone too soon, just as a difficult summit on EU enlargement started in Nice.
Fraga says Brazil inflation on target in 2001
Brazil's central bank president Arminio Fraga said on Thursday that inflation in Latin America's biggest economy was on track at 4% for 2001, despite a pending new minimum wage increase.
RBI governor favours flexible inflation target
Central bank inflation targets should be flexible to allow for varying economic conditions, Reserve Bank of India governor Bimal Jalan said Thursday.
Welteke - cannot say yet if euro turned around
Bundesbank President Ernst Welteke on Thursday said he could not tell whether the euro has already turned the corner, adding that the currency's further performance depended on US economic growth.
Riksbank hikes rates, policy stance to neutral
The Riksbank said that its 25 basis point hike that raised the repo rate to 4.0% Thursday was based on its new assessment that inflation would rise above the central bank's 2% limit in two year's time in the absence of tighter monetary policy.
Fujiwara-Can't say if return to zero rate possible
Bank of Japan deputy governor Sakuya Fujiwara said on Thursday he could not say whether it was possible to return to a policy of guiding the key overnight call rate virtually to zero.
Macedonia seeks bigger share of Yugoslav gold
Governor of the Central Bank of Macedonia Ljube Trpeski said that Macedonia and Bosnia-Herzegovina will request the Bank for International Settlements in Basel to change the formula for sharing of foreign currency reserves in gold of the former National…
Nigeria pressurises banks to reduce interest rates
The Central Bank of Nigeria has mounted pressure on commercial and merchant banks to reduce their lending interest rates.
Lithuania should keep currency board - NBP chief
Lithuania should keep the currency board model as long as the situation of country's economy is unclear, the president of the Polish central bank said in the Vilnius conference on Thursday.
Summers welcomes IMF aid for Turkey
The United States on Wednesday welcomed a $10 billion rescue package agreement between the International Monetary Fund and Turkey, saying that its financial stability was important to the US.
Yugo cenbank plans managed float for dinar in 2001
Yugoslavia's central bank said on Wednesday it was planning to abandon its rigid fixed exchange rate policy in 2001 and move to a managed float for the dinar.
Problem with BOE inflation forecast, says Fed Kohn
The Bank of England's forecast round and quarterly Inflation Report don't present a clear picture to policymakers, markets or the wider public, Don Kohn, director of monetary affairs at the US Federal Reserve Board in Washington, said Wednesday.
PNG should adopt the Aust dollar, says expert
Papua New Guinea should adopt the Australian dollar to ensure economic stability, an expert on developing Asia Pacific economies advised today.
OECD calls for 'greater clarity' from BOJ
While the future looks more positive for Japan, significant reforms including greater transparency from the Bank of Japan still need to be made, the Organisation for Economic Development and Cooperation said Wednesday in its annual economic survey of…
Danish cenbank may step up market operations
The governor of the Danish central bank said Wednesday that the bank may step up its activity in the money markets if industry consolidation reduces market efficiency.
Jusko says Slovak crown's losses nothing special
The current losses posted by the Slovak crown to the euro are nothing unusual, Marian Jusko, the governor of the National Bank of Slovakia, told reporters today.
Singapore announces changes in currency policy
The Monetary Authority of Singapore, the central bank, has allowed banks in the country to lend Singapore dollars to non-residents in the city state in an effort to further liberalise its policy on non-internationalisation of the Singapore dollar and…
BOC warns of inflation risks, keeps rates on hold
The Bank of Canada pointed to inflation risks lurking in the economy, but left interest rates unchanged yesterday in the first of its regularly scheduled policy announcements.
Buba views on Eurozone enlargement upset hopefuls
The Bundesbank's bid to make joining the Eurozone tougher for eager east European applicants has upset candidates but analysts said it will be politically impossible to make the demand stick.
Bulgarian premier urges banks to lend more
Bulgarian prime minister Ivan Kostov on Tuesday urged local bankers to lend more to boost economic growth instead of keeping funds deposited abroad. Central bank governor Svetoslav Gavriiski said at the same meeting he expected increased lending to…
NZ holds rates, hawkish RBNZ outlook surprises
The Reserve Bank of New Zealand kept its official interest rates on hold as expected on Wednesday, but surprised many in the markets with a hawkish outlook for 2001.
RBNZ Brash cut transparency to save credibility
Reserve Bank of New Zealand governor Don Brash said Wednesday he decided to reduce the amount of information contained in his bank's quarterly monetary policy statements to help safeguard the credibility of the institution, particularly in the eyes of…
Greenspan talk lifts markets - John Berry
Financial markets rallied strongly yesterday after Federal Reserve Chairman Alan Greenspan acknowledged that US economic growth has slowed "appreciably," convincing many investors that the central bank will begin to cut short-term interest rates if…
CBR likely to amend monetary policy framework
The Bank of Russia last week submitted to the Duma "Guidelines for the government's unified monetary and credit policy in 2001".