Monetary Policy
Bank of England Quarterly Bulletin - Summer 2001
SURVEY - The Bank of England has published its Summer 2001 Quarterly Bulletin. The Bulletin contains the results of a survey conducted on behalf of the Bank in February 2001. The research, by NOP, surveyed public attitudes to inflation in the UK.
No plan to change Japanese growth outlook
JAPAN - Japanese Minister of Finance Masajuro Shiokawa said on 13 June that at present, he is not considering revising the government's projection of 1.7 percent economic growth for fiscal year 2001, ending in March 2002.
Hungary introduces inflation targeting system
HUNGARY - The central bank council has approved that the National Bank of Hungary (MNB) operate a monetary system based on implicit inflation targeting, MNB president Zsigmond Jarai announced at a news conference 12 June.
PBC attacks international monetary system
UK - Strong criticism of the current international monetary system was expressed in a paper by an Assistant Governor of the People's Bank of China and delivered on his behalf at a conference on South-East Asia held at the Bank of England, 12 June.
Bank of England Quarterly Bulletin - Summer 2001
RESEARCH - Stuart Berry and David England, both of the Bank of England, co-author a study in the quarterly bulletin 'Has there been a structural improvement in US productivity'.
Financial markets in the European Monetary Union
SPEECH - Eugenio Domingo Solans, Member of the Governing Council and the Executive Board of the European Central Bank delivered a speech at the 28th Annual Financial Markets Seminar, Valencia, on 8 June.
Paraguay appoints chief banking regulator
PARAGUAY - Angel Gabriel Gonzales has been re-appointed as chief banking regulator in Paraguay.
Fed names three senior staff to new positions
US - Three senior Federal Reserve staff will move into new roles at the Federal Reserve Board, the Fed said on 11 June.
Sharing regulatory and supervisory responsibility
SPEECH - Edgar Meister, member of the directorate of the Deutsche Bundesbank, gave a speech on 9 June at the Multinational Banking Seminar in New York. "How should regulatory and supervisory responsibilities be shared among the national functional…
New Deputy Governor joins Barbados central bank
BARBADOS - The Central Bank of Barbados has welcomed its new Deputy Governor, Carlos Holder. Mr. Holder took up responsibilities for the Research and Bank Supervision Departments, effective 1 June.
Indonesia Bank deputy takes economic minister post
INDONESIA - Floundering Indonesian President Abdurrahman Wahid reshuffled his economic ministers on 12 June, a move analysts dismissed as pointless and not enough to save him from impeachment in August.
Trichet says there are no divisions on ECB council
FRANCE - Bank of France governor Jean-Claude Trichet said on 12 June that the governing council of the European Central Bank spoke with one voice and had no real difference of opinion with eurozone finance ministers.
Polish MPC should explain not preach
POLAND - Poland's Monetary Policy Council (MPC) needs to explain better to the public the rationale behind its high interest rates or face a "war" with an increasingly hostile government, a top independent economist said on 12 June.
Reserve Bank of India names new deputy governors
INDIA - India has appointed two new deputy governors for the Reserve Bank of India (RBI) and has extended the term of Y.V. Reddy who was to step down in August.
THE BIS REPORT
ANNUAL REPORT - CENTRALBANKNET'S SUMMARY AND ANALYSIS OF THE BANK FOR INTERNATIONAL SETTLEMENT'S 71st ANNUAL REPORT 2000/01.
BIS publishes its Annual Report 2000/01
SWITZERLAND - The Bank for International Settlements (BIS) released its 71st Annual Report for 2000/01 today, 11 June. It is holding its annual general meeting in Basel.
BIS Annual General Meeting Presidential Address
SPEECH - Address by the Chairman of the Board of Directors and President of the Bank for International Settlements, Urban Backstrom, to the Annual General Meeting held in Basel today, 11 June 2001.
Pakistan not ready for Islamic banking deadline
PAKISTAN - Pakistan is not ready to meet a 1 July supreme court deadline to implement interest-free Islamic banking and its financial institutions are likely to request more time to make the change, officials said on 7 June.
Reynders asks ECB to test early euro notes release
BRUSSELS - Belgian Finance Minister Didier Reynders has said he has asked the European Central Bank to consider "testing" automatic cash dispensers shortly before 1 January next year to ensure they could release euro notes.
Japan economic council urges flexible BOJ policy
TOKYO - Prime Minister Junichiro Koizumi's economic policy council urged the Bank of Japan on 11 June to carry out a flexible monetary easing policy if needed while the economy is in an adjustment phase.
Slovakian cen bank asked to permit capital entry
SLOVAKIA - On 8 June a potential investor in Devin Banka, a.s. officially asked the National Bank of Slovakia (NBS) to permit acquisition of higher than a 50-percent stake in its share capital.
ABC Islamic to launch sharia credit cards
BAHRAIN - Bahrain-based ABC Islamic Bank, a wholly-owned subsidiary of Arab Banking Corporation, is in the process of establishing a vehicle for the marketing of sharia-compliant credit cards.
Brazil c-bank may transfer liquidation admin
BRAZIL - The central bank of Brazil is involved in a debate on transferring the administration of financial institutions in liquidation from the Central Bank to the Credit Guarantee Fund (FGC).
Egypt central bank dollar requests mount up
EGYPT - Egyptian banks have accumulated requests for hundreds of millions of dollars with the Central Bank which has not released any dollars into the market in over a month, banking sources and newspapers said on 7 June.