Monetary Policy
PNG should adopt the Aust dollar, says expert
Papua New Guinea should adopt the Australian dollar to ensure economic stability, an expert on developing Asia Pacific economies advised today.
OECD calls for 'greater clarity' from BOJ
While the future looks more positive for Japan, significant reforms including greater transparency from the Bank of Japan still need to be made, the Organisation for Economic Development and Cooperation said Wednesday in its annual economic survey of…
Danish cenbank may step up market operations
The governor of the Danish central bank said Wednesday that the bank may step up its activity in the money markets if industry consolidation reduces market efficiency.
Jusko says Slovak crown's losses nothing special
The current losses posted by the Slovak crown to the euro are nothing unusual, Marian Jusko, the governor of the National Bank of Slovakia, told reporters today.
Singapore announces changes in currency policy
The Monetary Authority of Singapore, the central bank, has allowed banks in the country to lend Singapore dollars to non-residents in the city state in an effort to further liberalise its policy on non-internationalisation of the Singapore dollar and…
BOC warns of inflation risks, keeps rates on hold
The Bank of Canada pointed to inflation risks lurking in the economy, but left interest rates unchanged yesterday in the first of its regularly scheduled policy announcements.
Buba views on Eurozone enlargement upset hopefuls
The Bundesbank's bid to make joining the Eurozone tougher for eager east European applicants has upset candidates but analysts said it will be politically impossible to make the demand stick.
Bulgarian premier urges banks to lend more
Bulgarian prime minister Ivan Kostov on Tuesday urged local bankers to lend more to boost economic growth instead of keeping funds deposited abroad. Central bank governor Svetoslav Gavriiski said at the same meeting he expected increased lending to…
NZ holds rates, hawkish RBNZ outlook surprises
The Reserve Bank of New Zealand kept its official interest rates on hold as expected on Wednesday, but surprised many in the markets with a hawkish outlook for 2001.
RBNZ Brash cut transparency to save credibility
Reserve Bank of New Zealand governor Don Brash said Wednesday he decided to reduce the amount of information contained in his bank's quarterly monetary policy statements to help safeguard the credibility of the institution, particularly in the eyes of…
Greenspan talk lifts markets - John Berry
Financial markets rallied strongly yesterday after Federal Reserve Chairman Alan Greenspan acknowledged that US economic growth has slowed "appreciably," convincing many investors that the central bank will begin to cut short-term interest rates if…
CBR likely to amend monetary policy framework
The Bank of Russia last week submitted to the Duma "Guidelines for the government's unified monetary and credit policy in 2001".
Fed's Ferguson says US economy risks balanced
The risks to the US economy are evenly balanced between the dangers of an excessive slowdown and an inflationary overheating, Federal Reserve Vice Chairman Roger Ferguson said on Wednesday.
El Salvador makes way for US dollar general use
El Salvador is making final preparations to introduce the US dollar into general use in January, importing the US currency and training bank employees how to avoid money laundering and counterfeit schemes, officials said on Wednesday.
Ex-Fed Blinder - Japan needs cheaper yen
Alan Blinder, a former deputy chairman of the Federal Reserve, said Thursday Japan ought to boost demand by making its currency cheaper.
Korea c.bank says holding rates for now
Korea may cut interest rates to ward off a sharp economic downturn but only if prices remain under control, Bank of Korea Governor Chon Chol-hwan said on Thursday.
Hungary publishes 2001 monetary policy guidelines
The National Bank of Hungary (MNB) agrees with the government on the necessity and method of changing the country's current exchange rate system, but so far no agreement has been reached on a timetable for the change, according to the MNB's monetary…
Georgian c.bank head sees stable lari, IMF loans
Georgia's lari currency should be stable next year, enabling the country to meet conditions to unlock loans from its largest creditor, the International Monetary Fund, the central bank governor said in an interview with Reuters.
Fed Parry says economy growing at sustainable pace
Federal Reserve Bank of San Francisco President Robert Parry said on Tuesday that the US economy had shifted into a more sustainable growth range in recent months and that employment growth had moderated.
Venezuela 'overdrive' plan still not in effect
Venezuelan President Hugo Chavez acknowledged Tuesday that a $2.1bn government spending plan he announced two months ago to spur economic growth had still not taken effect.
ECB publishes revision of Eurosystem instruments
The European Central Bank Tuesday said it has published its revision of Eurosystem monetary policy instruments and procedures.
Kenya bill to control bank interest rates passed
Kenya's parliament today passed with amendments the Donde bill that seeks to regulate interest rates charged by commercial banks.
Vietnam banks dispute compulsory reserve ratios
Commercial banks have criticised the central bank's increase of the compulsory ratio of deposit reserves from this month from 8% to 12% for call and less than 12-month deposits in the dollar.