Central Banks
Federal Reserve Board Press Release
PRESS RELEASE - The Federal Reserve Board on Friday announced the appointment of chairmen and deputy chairmen of the twelve Federal Reserve Banks for 2003, 11 October.
BIS Press Release
PRESS RELEASE - Asia/Pacific nations declare that quick disposal of non-performing loans is vital for strengthening financial systems, 14 October 2002.
CentralBankNet Monday Special Feature
SPECIAL FEATURE - In this weeks special feature CentralBankNet looks at the issue of Japan's Non-Performing Loan Problem and the shock decision by the Bank of Japan to start buying shares. On Friday the BOJ published both an outline to its stock purchase…
IMF's Stefan Ingves on the Nordic Banking Crisis
SPEECH - In a speech titled 'The Nordic Banking Crisis from an International Perspective' Stefan Ingves, Director, Monetary and Exchange Affairs Department at the IMF said that the lessons of the Nordic countries in dealing with their banking crises…
Stevens on Australia's Medium-Term Econ Prospects
SPEECH - In a speech titled 'Medium-Term Economic Prospects for Australia' Glenn Stevens, Deputy Governor of the Reserve Bank of Australia said that the Australian economy is in pretty good shape, compared to other major economies, and has enjoyed an…
ECB Press Release
PRESS RELEASE - Mr. de Beaufort Wijnholds appointed as permanent representative of the European Central Bank in Washington, D.C. with observer status at the International Monetary Fund, 10 October 2002.
ECB Press Conference
PRESS CONFERENCE - Introductory statement with a transcript of the questions and answers by Willem F. Duisenberg, President of the European Central Bank, Lucas Papademos, Vice-President of the European Central Bank, Frankfurt, 10 October 2002.
How fiscal and monetary policy stifle the eurozone
ARTICLE - For Wim Duisenberg yesterday (10 October), attack was the best form of defence. Explaining the European Central Bank's decision to leave interest rates unchanged at 3.25 per cent, despite the dark clouds gathering over Europe's economy and…
Indonesian bank supports rupiah after bomb blast
INDONESIA - The Indonesian central bank intervened to support the rupiah on Monday in the wake of car bomb blasts on the holiday island of Bali and analysts warned the bombings could weigh on currencies across the region.
BOK to begin 10th central banking seminar today
KOREA - Nineteen central bank officials from 18 countries will attend a central banking seminar organized by the Bank of Korea (BOK), from today through Friday at the bank's headquarters in downtown Seoul.
Albanian MPs demand sacking of central bank head
ALBANIA - At least 35 deputies of Democratic Party (PD) and of other parliamentary opposition forces, mainly of Union for Victory, signed a draft resolute on Saturday requiring parliament to address the Bank of Albania Supervisory Council to remove…
New Afghan banknotes go into circulation in north
AFGHANISTAN - New Afghan banknotes have been officially put in circulation in the northern zone. The ceremony started with a recitation from the holy Koran.
David Klein's mysterious adventure
ARTICLE - Several weeks ago, the premier international rating agency Standard & Poor downgraded the credit ratings of Bank Hapoalim, Bank Leumi, and Bank Discount. This action was driven by concern over the quality of loans these banks have issued. In…
Brazil's c bank calls extraordinary Copom meeting
BRAZIL - Brazil's Central Bank called Monday an extraordinary meeting of its interest rate-setting Monetary Policy Committee (Copom), two weeks before presidential elections and amid a currency crisis that is fanning inflation and whipping the economy.
Brazil: PT may give central bank autonomy
BRAZIL - The workers' party (PT) may give the central bank 'operational autonomy', as early as this year, if Luiz Inacio Lula da Silva is elected president, says PT president Jose Dirceu.
Israel debates monetary council for central bank
ISRAEL - The Knesset's Finance Committee will shortly be reopening discussion of a monetary council for the Bank of Israel, which would share some of the responsibilities belonging to the central bank governor, David Klein.
Italy's c bank governor makes rare budget comment
ITALY - Italy's new budget drew a less than enthusiastic response last Friday from Antonio Fazio, Italy's central bank governor, who said it relied heavily on one-off measures as a means to raise revenues and reduce the national budget deficit.
Shanghai Gold Exchange to open in late October
CHINA - Detailed rules governing the value added tax on gold trading have been clarified and the Shanghai Gold Exchange will formally open for business at the end of the month, exchange sources said on Sunday.
Kuwait to link dinar to dollar
KUWAIT - Kuwait, ending a 27-year-old policy, said yesterday it will fully link the dinar to the U.S. dollar from 2003 as part of a plan by six Gulf states to forge a single currency.
GCC asks EU for currency advice
ARTICLE - Six Arab Gulf states have turned to the eurozone for advice in how to successfully start a single currency by 2010.
Japan 'has drafted' anti-deflation package
JAPAN - The Japanese government has drawn up the outline of an anti-deflation package and will finalise the draft towards the end of the month, the Sankei Shimbun newspaper reported on Sunday.
Statement at the Joint Annual Discussion
SPEECH - Statement by Ms Bodil Nyboe Andersen, Alternate Governor of the Fund for Denmark, at the Joint Annual Discussion, 29 September.
Duisenberg on the integration of financial markets
SPEECH - In a speech titled 'The integration of Europe's financial markets' Duisenberg said that after the successful introduction of the euro progress in financial integration took place with the safe establishment of the unified unsecured money market…
Parry on the economic outlook for the nation
SPEECH - Parry gave a speech titled 'The Economic Outlook for the Nation and the Region: A Monetary Policymakers View' and said his basic view is that we're now in the midst of an expansion that's both modest and uneven.