Central Banks
BOJ hints at unavoidable recession in Japan
JAPAN - The Bank of Japan has downgraded its assessment of the Japanese economy for the third straight month and hinted strongly that a recession - the country's fourth in a decade - will be unavoidable.
German economy grinds to a halt
GERMANY - The German economy slowed to a halt in the second quarter of the year, according to new preliminary figures from the Bundesbank.
Polish central bank head calls for fiscal reform
POLAND - Leszek Balcerowicz, president of the National Bank of Poland, stressed in a speech made on 10 August to the Polish parliament that tight monetary policy in 2000 had done the most to shelter Poland from worse macroeconomic disturbances that could…
Taiwan c bank may up euro weight in forex reserves
TAIWAN - Taiwan's central bank may raise the weighting of the euro in its foreign exchange reserves in the wake of possible strengthening in the euro and higher interest rates, Commercial Times reports.
IMF Press Release
USA - World Bank Group and IMF set meetings for 29-30 September 2001.
Anti-globalisation protest IMF/World Bank meeting
US - Nationwide planning by anti-globalisation protesters from across the US is intensifying and becoming increasingly sophisticated in advance of next month's meetings in Washington of the World Bank and International Monetary Fund, reports the…
Recent Economic Developments in Japan - Summary
REPORT - Bank of Japan - Monthly Report of Recent Economic and Financial Developments August 2001. Summary only.
Tinkering with currency can't solve economic woes
ARTICLE - John Devine, chief financial officer at General Motors Corp., last week was the latest in a string of corporate executives complaining about the strength of the U.S. dollar. His timing wasn't perfect. The dollar has actually softened relative…
Change in the Guideline for Money Market Operation
REPORT - Bank of Japan Monetary Policy Meeting 14 August.
Brazil c bank may have to relax war on inflation
ARTICLE - Hyperinflation may be dead, but prices are rising again in Brazil. A series of economic jolts could force the central bank to temper its anti-inflation zeal to avoid aggravating bigger problems in a slowing economy.
The changing landscape of banking in Hong Kong
SPEECH - David Carse, Deputy Chief Executive, Hong Kong Monetary Authority, gave a speech at the Hong Kong Investment Funds Association, Furama Hotel, Hong Kong, luncheon on 15 August.
Bank split over rate cut
UK - The Bank of England's surprise cut in interest rates earlier this month on 2 August was approved by a six-to-three majority, minutes from the rate-setting meeting have revealed.
Euro breaks 90 cents barrier
EUROPE - The euro broke through the 90 cent level today, 15 August, and hit a five-month high against the pound for the third consecutive day as the single currency benefited from losses by the US dollar.
HKMA call on banks to tighten credit card policies
HONG KONG - Hong Kong's central bank today 15 August called on the city's banks to tighten up their policies for issuing credit cards in an effort to combat an increasing incidence of bankruptcy.
Malaysia c bk campaign to promote Islamic banking
MALAYSIA - Malaysia's central bank said 15 August that it will organise a week-long nationwide campaign to promote Islamic banking and insurance from 26 Oct to 2 Nov.
EC put cards on the table and Visa comes up trumps
AUSTRALIA - The European Commission (EC) has approved Visa's rules on interchange fees for debit and credit cards.
Dutch Kusters engineering granted India contract
INDIA - Dutch company Kusters Engineering, a manufacturer of machines for the destruction of banknotes, has been granted a 25 mln Dutch guilders ($10.2 mln/11.3 mln euro) contract by the Central Bank of India.
Central Bank of Peru - Annual Report 2000
ANNUAL REPORT - The Central Bank of Peru has published its Annual Report 2000.
Central Bank to increase bond purchases by 50%
JAPAN - The Bank of Japan announced today it will increase bond purchases by 50%, adding 1 trillion yen (8.1 billion dollars) to the banking system.
Japan loosens monetary policy
JAPAN - The Bank of Japan (BoJ) has decided to make borrowing money cheaper as the weight of huge bad debts and sliding prices continues to cripple the country's domestic economy.
Hole-in-the-wall headache behind euro big day
ARTICLE - With the deadline for the introduction into circulation of euro notes less than five months away, Europe is facing its greatest logistical challenge since the D-Day landings.
Bush keeps 'open mind' on Argentina
US - Talks between Argentina, the International Monetary Fund (IMF) and the US Treasury continued on 13 August, as the country sought extra money to help ease its financial crisis.
Disinflation makes rates more powerful tool
ARTICLE - After some recent volatile swings, July consumer price data from several euro-zone economies 14 August, including France, suggest that a broad disinflation trend is firmly in place.
High-tech credit card scam spreads
ASIA - International criminal gangs are using high-technology to steal thousands of credit card numbers at a time from trusting shoppers.