Central Banks

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.

Support for the European Central Bank

SPEECH - Edward George, the Governor of the Bank of England, has defended the ECB in a speech to Japanese businessmen at the JiJi Press London Top Seminar, The Savoy Hotel, London on 30 May 2001.

Second Thailand monetary policy board member quits

THAILAND - Chalongphob Sussangkarn, a member of the Bank of Thailand's Monetary Policy Board, said on 31 May he had submitted his resignation. He cited uncertainty over monetary policy following the ousting of governor Chatu Mongol Sonakul earlier this…

SE Asian central bank governors begin meeting

SINGAPORE - The annual conference of Governors of the South-East Asian Central Banks (SEACEN) needs to focus on ways to maintain its relevance amid a proliferation of regional and international forums, a Singapore government minister said on 31 May.

Brazil Central Bank blames prices for rates hike

BRAZIL - Brazil's Central Bank raised interest rates in May for the third consecutive month to head off inflationary pressures and the potential impact of the country's energy crisis on consumer prices, according to the minutes of the May meeting of the…

ECB chief predicts success for euro notes launch

EUROPE - Wim Duisenberg, president of the European Central Bank, has insisted that the changeover to euro notes and coins on January 1 2002 would be a success, rejecting pleas for small denomination euro notes to be distributed to the public in advance.

Euro is a safeguard for UK

ARTICLE - Soon to depart Bank of England MPC member DeAnne Julius sees the euro as a safeguard for UK industry. Speaking recently she considers her own future, Britain's European prospects and the set-up at the ECB.

System approach for measuring the Euro area NAIRU

RESEARCH - This working paper from the ECB is co-written by Silvia Fabiani and Ricardo Mestre. The paper attempts to extend the analysis of a euro area-wide measure of the NAIRU, using time-series techniques rather than more structural approaches.

Canada lowers key interest rate

CANADA - Canada's central bank trimmed its key overnight interest rate on 29 May by 25 basis points to 4.5 per cent, stating that while US demand for Canadian products had slowed during the first part of the year, the domestic economy continued to show…

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