Monetary Policy

Oil, minimum wage hike led to Brazilian rate hold

Despite a slowdown in inflation in recent months, concerns about the impact of a hike in the minimum salary and volatile oil prices led Brazil's central bank to keep its key interbank interest rate steady, according to minutes of last week's monetary…

Yugoslav Dinkic explains priorities to parliament

Mladjan Dinkic, the newly-appointed governor of the Yugoslavia's central bank, has told the Federal Assembly that one of the bank's top priorities will be the full convertibility of the dinar, which will eliminate the black foreign exchange market.

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.

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