Central Banks

Duisenberg speech on central bank responsibilities

SPEECH - Wim Duisenberg, President of the European Central Bank, gave a speech at the Central Bankers' Panel at the International Monetary Conference, Singapore on 4 June. The speech was titled What exactly is the responsibility of central banks of large…

Bank of Latvia - Annual Report 2000

ANNUAL REPORT - The Bank of Latvia has published its Annual Report 2000. It says that results were better than projected and were above the average level in the region. This was partly a result of economic reform in Latvia and the bank's monetary policy.

Banks continue self-regulation

UK - Banks and building societies should continue with self-regulation of accounts, the UK Treasury has been told by a high-powered committee it appointed to review the system.

Bank of Canada appoints visiting special adviser

CANADA - The Bank of Canada has appointed John Chant to fill the visiting economist position of special adviser to the bank. Chant is a professor at Simon Fraser University in Canada. He will serve for a one-year term starting in September 2001.

IMF backs gold

US - A senior IMF official has made a statement about gold that in the view of experts is the first of any significance made since the Board's discussion of this subject in 1995.

International Monetary Conference speech

SPEECH - Deputy Prime Minister Lee Hsien Loong has given the luncheon address at the International Monetary Conference, Singapore on 4 June. It was titled Financial Centres Today and Tomorrow: A Singapore Perspective.

Stable Europe important to growth - Duisenberg

SINGAPORE - European Central Bank (ECB) President Wim Duisenberg told delegates at the International Monetary Conference in Singapore on 4 June that economic stability in the euro zone was the best contribution Europe could make to world growth.

Peru's new President will bring in bank chief

PERU - Alejandro Toledo, the son of a poor mountain sheep herder, won the presidency on 3 June over one-time President Alan Garcia after a campaign that left Peruvians deeply disillusioned. Aides to Garcia attempted to calm the markets by indicating that…

Malaysia's finance minister resigns

Malaysia - Malaysian Finance Minister Daim Zainuddin ended weeks of speculation about his future on 2 June, quitting his post despite Prime Minister Mahathir Mohamad's apparent efforts to retain him.

Valery Giscard d'Estaing on the euro

EUROPE - One of the co-founders (with Helmut Schmidt of Germany) of the European Monetary System in 1978, former French President Valery Giscard d'Estaing was in London yesterday to deliver the 21st Mais lecture at the City University.

New Bank of England committee member starts today

UK - The Bank of England's nine strong Monetary Policy Committee (MPC) has a new member from today, 1 June. Kate Barker, previously of the Confederation of British Industry, will replace DeAnne Julius who has served on the committee since 1997.

Meeting the challenge of the global economy

SPEECH - Lim Hng Kiang, Singapore's second minister for finance has made the opening remarks at the 36th SEACEN Governors' Conference, Singapore. Among other things he discusses the challenges for Asia with the slowing of the US economy and the much…

Congo floats its currency

CONGO - The Democratic Republic of Congo has floated its currency and raised the price of fuel in an effort to overcome the economic chaos bequeathed by almost three years of state control and inter-regional war.

Thai Baht crisis - 'Losses were typing error'

THAILAND - A committee set up to investigate the 1997 defence of the baht by the Bank of Thailand has amended its report which could potentially clear central bank officials of actions leading to the loss of tens of billions of baht.

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