Monetary Policy
Eighteen months of agony for ECB hopeful Trichet
FEATURE - As Wim Duisenberg announces the date when he will step down Bank of France Governor Jean-Claude Trichet has 18 months to fulfil France's dream that he will take Duisenberg's seat as president of the European Central Bank, the most powerful…
China accord on how to oversee banks
CHINA - China yesterday, Wednesday, put to rest months of divisive debate on whether a separate supervisory body should be set up to oversee its banking system, deciding that a new bureau within the existing central bank would be sufficient to do the job…
BoE most transparent G7 central bank - economists
UK - The Bank of England is the most transparent central bank among the world's leading economies, according to a new ranking devised by two European economists.
Latvia parlt vote on cbank deputy head seen 14 Feb
LATVIA - A Latvian parliament commission said on Wednesday it approved financier Andris Ruselis as the candidate for the post of the central bank deputy president, with the parliament vote seen on 14 February.
Govt not mulling asking BOJ for further easing now
JAPAN - The government isn't considering asking the Bank of Japan to take additional monetary easing measures, top government spokesman Yasuo Fukuda said Wednesday.
ECB Press Release
PRESS RELEASE - ECB recognises partners' valuable contribution to the smooth introduction of the euro banknotes and coins 5 February.
Speech by Tito Mboweni, Res Bank of South Africa
SPEECH - Mboweni said in the speech titled, 'Globalisation and implications for monetary policy in South Africa' that we are witnessing the global acceptance by political leaders of the independence of central banks as a critical factor for credible…
Testimony of US Treasury Secretary Paul O'Neill
TESTIMONY - In testimony to congressional lawmakers, Paul O'Neill, Treasury secretary, said: "We see more and more signs every day indicating that the seeds for a recovery are there, and only need nourishing to speed the process of putting Americans back…
Foreign banks play down euro importance to City
UK - Foreign banks operating in London believe that the City's success does not depend on the euro.
Banker calls for Asian free trade area
UK - The economies of south-east and east Asia should intensify efforts to build a regional free trade area to reduce their dependence on information technology exports to the US, according to Tadao Chino, president of the Asian Development Bank (ADB).
Speech by Wim Duisenberg, President of the ECB
SPEECH - In a speech at Maastricht University, Duisenberg said that the E.U.'s budget rules as laid down in the Stability and Growth Pact are a key element for a well-functioning monetary union.
Speech by Eddie George, Bank of England Governor
SPEECH - In the speech George said "With inflationary pressures subdued, monetary policy generally can, for the time being at least, afford to remain reasonably supportive" - although he added that he made "no predictions as to what that may mean for…
BoE's George hints at reluctance to raise rates
UK - Sir Edward George, governor of the Bank of England, hinted last night that he does not support a rapid rise in interest rates.
Speech by Dr Y.V. Reddy of Reserve Bank of India
SPEECH - In the speech titled 'Indian Banking: Paradigm Shift in Public Policy' Reddy said the country's central bank desired to move to a 3 per cent cash reserve ratio (CRR) regime.
Speech by Governor of the State Bank of Pakistan
SPEECH - In his speech Ishrat Hussain said that a full-fledged 'Islamic' bank would shortly start functioning in Pakistan to switch over to interest-free banking in the country as per the verdict of the Supreme Court of Pakistan.
Speech by Urban Backstrom of Sveriges Riksbank
SPEECH - In the speech Backstrom said "The picture of inflation continues to be a problem that cannot be disregarded...the Riksbank must keep a close eye on new inflation statistics, deepen the analysis in the event of deviations and weight this into the…
Swedish c bank gov stands by Dec inflation outlook
SWEDEN - Swedish inflation, currently running well in excess of three percent, looks set to slow to levels around the central bank's two percent target, central bank, or Riksbank, Governor Urban Backstrom said on Saturday.
Testimony of Fed Chairman Alan Greenspan
TESTIMONY - In his testimony titled 'Financial literacy' Greenspan said "for an increasingly complex financial system to function effectively, widespread dissemination of timely financial and other relevant information among educated market participants…
Greenspan urges better financial knowledge
US - Federal Reserve Chairman Alan Greenspan said on Tuesday that consumers needed to increase their financial knowledge to cope with an increasingly sophisticated marketplace.
Reserve Bank of New Zealand News Release
NEWS RELEASE - The Reserve Bank today rejected the suggestion, made by ACT leader Richard Prebble, that the registration of Kiwibank involved any special treatment, 4 February.
Japan shares hit 18-year low
JAPAN - Japan's shares have slumped to a new 18-year low.
Afghanistan's accounting nightmare
FEATURE - Deep in the vaults of Afghanistan's central bank is what looks like a mountain of money - bundles of notes piled as high as a man fill a small room.
Czech Havel meets Niedermayer on his cbank post
CZECH REPUBLIC - Czech President Vaclav Havel met central bank (CNB) Vice-Governor Ludek Niedermayer late on Monday to discuss his future on the bank's policy-setting board, Havel's spokesman said on Tuesday.
ECB Press Release - Central Banking Conference
PRESS RELEASE - Second ECB Central Banking Conference, "The transformation of the European financial system", released 4 February 2002.