Central Banks

ECB Press Conference

EUROPE - Introductory statement Willem F. Duisenberg, President of the European Central Bank, Christian Noyer, Vice-President of the European Central Bank, Frankfurt am Main, 5 July, with a transcript of the questions and answers.

Sluggish IT seriously affecting overall economy

SOUTH KOREA - A long-lasting slowdown in the nation's information and technology (IT) industry has been dealing a serious blow to the nation's exports, imports and current account balance as well as production in the manufacturing industry.

Beware of Dr. Green and Mr. Span

US - Some pretty smart people are warning about the danger of playing with interest rates, comparing the nation's central bankers to Dr. Jekyll and Mr. Hyde. Call these critics the Alan Greenspan bashers, writes the Economist magazine 5 July.

China to unify mark on banking cards

CHINA - China's central bank issued a circular Monday demanding that all commercial banks adopt a unified "Yinlian" mark on their banking cards for the purpose of settling in the local currency, Renminbi.

Interest rate decisions due

EUROPE - The European Central Bank and the Bank of England will both, separately, make their latest interest rate decisions tomorrow, 5 July. Neither is expected to cut rates further.

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