Central Banks
ECB rate cut not ruled out: Belgian board
BELGIUM - Belgian national bank chief Guy Quaden, a member of the European Central Bank board, declined Tuesday to rule out an ECB interest rate cut.
Hayami says BOJ has more policy options
JAPAN - Bank of Japan Governor Masaru Hayami said on Tuesday the BOJ had more policy options up its sleeve to fight deflation, suggesting more unconventional steps are being considered to dig the economy out of its rut.
Venezuela cen bank to keep rate regime unchanged
VENEZUELA - Venezuela's central bank BCV has no plans to change its foreign exchange policy, a source close to the bank told BNamericas, in response to a local report.
Iran sees large inflow of gold and capital
IRAN - Iran has experienced a net inflow of capital and gold bullion for the first time since the 1979 Islamic revolution. It has been drawn by domestic investment opportunities and driven by financial insecurity outside the country following the…
Bank of England News Release
NEWS RELEASE - Monetary Policy - A Perpetual Dilemma?, 14 October 2002.
Kate Barker on monetary policy and asset prices
SPEECH - In the speech 'Monetary Policy - A Perpetual Dilemma?' made on 14 October Kate Barker of the Bank of England questioned whether it was the role of monetary policy to protect individuals from the risks asset price bubbles pose and whether such…
Zambian central bank to introduce high value notes
ZAMBIA - The Bank of Zambia said Saturday it has embarked on a national currency restructuring program that will ultimately result in the launching of high value notes in 50,000kwacha (US$10.99)and 20,000kwacha denominations.
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.