Monetary Policy
Indonesia's 2002 budget to be drained by debt
INDONESIA - Indonesia will unveil on 7 September a draft budget constrained by a mountain of debt that has left President Megawati Sukarnoputri's government with barren coffers and few options to prove it can fix the shattered economy.
Sharp rise in public fears over euro price hikes
BELGIUM - Governments in the 12-nation eurozone were given a stark warning yesterday about growing public concern that January's changeover to euro notes and coins will be exploited for unfair price rises.
Banks get set for euro clearing
UK - The financial system took a significant step towards readiness for the single currency yesterday when the £300bn-a-day clearing system moved on to a euro-compatible platform.
NBU recommends quick euro change
UKRAINE - The National Bank of Ukraine is recommending that commercial banks quickly get rid of the national currencies of the member-countries of the European Currency Union in favour of the euro.
Bank of Japan - Quarterly Bulletin August 2001
RESEARCH - The Bank of Japan has published its latest, August 2001, Quarterly Bulletin.
CLASH BETWEEN GERMANY AND THE ECB
CENTRALBANKNET'S SPECIAL REPORT - In January this year, the German finance minister, Hans Eichel, underlined the government's commitment to reforming the financial sector with a proposal to create a unified financial services regulator, and in the…
New euro notes and coins are on the move in europe
GERMANY - Finance Minister Hans Eichel told disbelieving Germans visiting his ministry on 2 September that the euro was stronger than the German mark in its relationship with other currencies.
ECB board members defend interest rate cut
SPAIN - European central bankers on 31 August said the ECB's decision to cut interest rates was based on receding inflationary pressures and rejected criticism the bank had waited too long to stimulate the Continent's flagging economy.
Belgian bank to start coin-collecting soon
BELGIUM - The Belgian National Bank (BNB) and the Belgian General Commission for the euro will launch a coin-collecting operation from October 15, 2001 to November 15, 2001, during which Belgians will be able to exchange coins for euro.
Summary of the latest opinion polls on EMU
UK - Euro zone citizens are becoming more aware the euro will replace national currencies in 2002 but are also growing more concerned about possible price rises, according to a European Commission survey published on 3 September.
Forecasting recessions using the yield curve
RESEARCH - A staff report by Marcelle Chauvet and Simon Potter of the Federal Reserve Bank of New York, August 2001.
CEPR - Monitoring the European Central Bank (MECB)
RESEARCH - New research from the Centre for Economic Policy Research. The authors of the latest MECB Update argue that the ECB should only cut interest rates when falling growth prospects will be accompanied by an unambiguous decline in inflation…
Japanese prices spiral downwards
JAPAN - Japan's economic gloom has deepened further with news that consumer prices fell in July for the 22nd straight month.
Stanley Fischer - Farewell Dinner Speech
SPEECH - A speech by Stanley Fischer, First Deputy Managing Director, International Monetary Fund on 29 August. Stanley Fischer is leaving the IMF after seven years.
ECB cuts interest rates
EUROPE - The European Central Bank has cut interest rates by a quarter of a point to 4.25%.
ECB press release - Monetary policy decisions
At today's meeting the Governing Council of the ECB took the following monetary policy decisions:
A History of the Canadian Dollar
BOOK - An extensively illustrated book tracing the intriguing story of Canada's dollar from colonial times to the present day. The book provides a lively and informative account of Canadian money from colonial times to the present.
HKMA Quarterly Bulletin (August 2001 Issue)
HONG KONG - The Hong Kong Monetary Authority (HKMA) today, 30 August, published the latest issue of its Quarterly Bulletin.
Domingo Solans - Mass media campaign
EURO - Domingo Solans: Press conference on the occasion of the unveiling of the euro banknotes and their security features. Presentation of the mass media campaign including a brief overview of the Euro 2002 Information Campaign, Frankfurt, 30 August.
Domingo Solans - Euro notes and security features
EURO - Domingo Solans: Press conference on the occasion of the unveiling of the euro banknotes and their security features. Introductory remarks on the euro banknotes and their security features, Frankfurt, 30 August.
The unveiling of euro banknotes - Duisenberg
EURO - Wim Duisenberg: Press conference on the occasion of the unveiling of the euro banknotes and their security features. Introductory statement, Frankfurt, 30 August.
Japan moves closer to recession
JAPAN - Steep falls in industrial production and retail sales in July have pushed Japan closer to official recession, figures showed on 30 August.
Countdown to euro cash
EUROPE - The European Central Bank begins its campaign today, 30 August, to persuade the 300 million citizens of the eurozone to recognise - and love - their new currency.
Pakistan savers' money at risk
PAKISTAN - About 90,000 savers in Pakistan can't get at their money temporarily as the central bank examines a merger in the sector.