Central Banks
Central Bank of Russia to offer $13,000 gold coins
RUSSIA - New Russians, extravagant businessmen famed for their love of gold and deep pockets, might now have to start thinking about getting wide ones too, reports Reuters on Friday.
Rudiger Dornbusch
ARTICLE - Rudiger Dornbusch, a far-from-dismal economist, died on July 25th, aged 60. The Economist magazine, 9 August paid tribute to him.
Counterfeit bank notes on rise in Korea 1st half
SOUTH KOREA - The number of attempts to use forged bank notes increased considerably in the first half of the year, as counterfeiters have easier access to computer scanners and colour photocopiers.
Interview with Milton Friedman
INTERVIEW - Central Banking, The Quarterly Journal, contains an exclusive interview with Milton Friedman in the August 2002 edition. The Editor, Robert Pringle, spoke to US Economist Milton Friedman, just before Friedman celebrated his 90th birthday. In…
ECB Monthly Bulletin, August 2002
REPORT - The European Central Bank published its August 2002 Monthly Bulletin on 8 August. In the bulletin the ECB reinforced its "wait and see" approach to interest rates but admitted risks to price stability had become "more balanced". This was in…
Ukraine to issue more money
UKRAINE - Ukraine's government, faced with a spiralling budget deficit despite strong economic growth, has convinced the central bank to issue more than half a billion dollars worth of extra cash.
Polish e-signature centre may break EU law
POLAND - The privileged position of Centrast accreditation centre and the high fees that the subsidiary of the central bank plans to charge may be against the rules set forth in an EU directive on the e-signature, released in 1999.
Belarus reports notable rise in for ex reserves
BELARUS - The Belarusian central bank's net foreign exchange reserves rose by 48.5m dollars since the beginning of the year to 252.9m, Pyotr Prakapovich, head of the National Bank of Belarus (NBB), told reporters in Minsk on 7 August.
Iraqi central bank governor plans new note issue
IRAQ - The Iraqi News Agency asked Iraqi Central Bank (ICB) Governor Dr Issam Rashid Huwaysh several questions on the ICB's measures to minimize the problems citizens experience from the scarcity and destruction of banknotes which impedes the circulation…
IMF News Brief
NEWS BRIEF - IMF Managing Director Kohler Confirms Agreement with Brazil, 7 August.
Managing the World Economy
ARTICLE - An Article by Kenneth Rogoff, Economic Counsellor and Director of the Research Department, International Monetary Fund, The Economist.
ECB grows more cautious on growth outlook
GERMANY - A shift of stance on inflationary pressures by the European Central Bank on Thursday reflected growing pessimism on the outlook for economic growth in the eurozone.
Brazil set for "largest ever" IMF loan of $30bn
BRAZIL - The International Monetary Fund has agreed to lend Brazil an extra $30bn (£20bn), hoping that this will help pull the country and the region out of crisis. The deal represents the largest loan the IMF has ever provided in its history.
Central bank relaxes bank suspensions - Uruguay
URUGUAY - Uruguay's central bank has authorized suspended banks to partially resume operations, Uruguayan daily El Pais reported.
Theft from Nigerian central bank van denied
NIGERIA - A middle-aged man, Mustapha Abubakar, has appeared before an Upper Sharia Court, Sokoto for allegedly removing bank notes from a Central Bank of Nigeria armoured van. However, in his defence the man said in court he was inside the van only to…
Bank of England Inflation Report, August 2002
REPORT - The Bank of England on Wednesday published its Inflation Report for August 2002. The Bank expects inflation to remain below the government's 2.5 per cent target for the whole of the next two years, according to the quarterly Inflation Report…
ECB call for papers
PRESS RELEASE - Call for papers for a volume on Foreign reserves risk management to be submitted by 15 February 2003.
Norges Bank keeps interest rates unchanged
PRESS RELEASE - Interest rates were left unchanged at Norges Bank's Executive Board meeting on 7 August 2002.
Australia leaves rates steady
AUSTRALIA - Australia's central bank left interest rates unchanged Wednesday, amid global volatility on the financial markets and warning signs about the strength of the U.S. economic recovery.
Norges Bank's press conference, 7 August
PRESS CONFERENCE - Monetary policy meeting of Norges Bank's Executive Board, 7 August.
Sveriges Riksbank Press Release
PRESS RELEASE - Stable Swedish financial sector according to the IMF, 7 August.
Defending the I.M.F.
NEWS BRIEF - A Letter to the Editor of The New Yorker By Graham Hacche, Deputy Director, External Relations Department, International Monetary Fund, 5 August.
Rogoff Critique Should be No Surprise
NEWS RELEASE - A Letter to the Editor, By Graham Hacche, Deputy Director, External Relations Department, International Monetary Fund, Submitted to The Times but not published, 9 July.
No interest rate change in Norway
NORWAY - Norway's central bank kept key interest rates on hold on Wednesday, as expected by analysts, with inflationary pressures in Norway's oil-backed economy offset by an international slowdown.