Monetary Policy

Sarkissian: Price stability will be maintained

The head of Armenia's central bank said that stability in the financial markets will be maintained when the government spends 8 bln drams from the privatisation fund in order to cover social expenses and other financial inflows in December 2000.

RBNZ wants words to talk louder than numbers

New Zealand's Reserve Bank Wednesday announced changes to the format of its quarterly monetary policy statements, underscoring its desire to shift public focus of its monetary policy away from the short to the medium term.

Bank of England warns on tax cuts

The Bank of England, the UK central bank, has warned that it is premature to rule out further interest rate rises and threatened an immediate response if the government makes big pre-election tax cuts.

ECB to mull raising M3 target to 5%

Bundesbank President Ernst Welteke said on Tuesday that the European Central Bank would discuss raising the reference value for M3 monetary growth to 5% from 4.5% at its December 14 meeting.

IMF says Turkey policy on track

The International Monetary Fund said in a statement released on its website that the Turkish government's IMF-supported economic programme was on track and is expected to remain so.

Euro has been a success - Banque de France Trichet

Bank of France governor Jean-Claude Trichet said Monday that the euro has been a success since its launch. In a speech in Tokyo, Trichet said that the single European currency has been both a technical success, and a "benchmarking" success - in that the…

Hungary's lower reserve rate seen positive

The National Bank of Hungary said it would cut its effective mandatory reserve rate to 7% from 11% as of 1 February. Analysts said that this would improve the competitiveness of the banking sector, boost growth and stimulate investment.

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