Central Banks
BI to make amendments to the constitution
ARTICLE - To meet the demands of reform, the People's Consultative Assembly (MPR) have amended the 1945 Constitution. Subsequent to the first, second and third phase of amendments, a number of articles are going through amendments in the current fourth…
Real rises after central bank resumes intervention
BRAZIL - The real rose after the Brazilian central bank said it is resuming its former policy of daily interventions in the foreign exchange market, dealers said.
Israel's c bank chief criticizes inadequate budget
ISRAEL - Governor of the Bank of Israel David Klein says financial stability is not yet assured. Speaking before the Israel Democracy Institute's annual Caesarea conference, being held this year in Jerusalem, he said the task of restoring economic…
Speech by Fed Reserve Governor Ed Gramlich, 5 July
SPEECH - In a speech to the International Research Forum on Monetary Policy Gramlich said that central banks could use more research to help address certain policy questions, including those related to specific currency regimes and the short-run impact…
Letter from Joseph E Stiglitz to the FT
LETTER - In a letter to the Financial Times published on Friday Professor Joseph E. Stiglitz continues the slanging match with the IMF's Ken Rogoff.
The costs of sterling
ARTICLE - History shows that Britain's separate currency has damaged the structure, balance and size of its economy writes David Cobham in Friday's Financial Times.
Euro 'would boost UK by ending volatility'
UK - Entry into the euro would boost investment in Britain by ending exchange rate volatility in Britain's dominant export market, according to a paper published by the National Institute of Economic and Social Research on Thursday.
Kohler urges caution amid market volatility
ARTICLE - Horst Kohler gave an interview to the London Financial Times on Thursday in which he said that the biggest risk in today's uncertain financial markets is to "give the wrong signals and exaggerate problems so that they become a self- fulfilling…
Bank of England News Release
NEWS RELEASE - Bank of England Maintains Interest Rates at 4.0%, 4 July.
Reserve Bank of Australia Discussion Paper
RESEARCH - Reserve Bank of Australia Discussion Paper: Options for EFTPOS Interchange Fee Reform, EFTPOS Industry Working Group, July 2002.
Speech by Yutaka Yamaguchi, Bank of Japan, 3 July
SPEECH - In a speech titled 'Central Banking in Uncharted Territory' Yamaguchi said that "the US dollar reached its peak in January and has been depreciating significantly since then. Such a forex rate movement reflects these changes in global capital…
Norges Bank Press Release
PRESS RELEASE - Norges Banks Annual Report on Payment Systems for 2001, 2 July.
ECB Press Release
PRESS RELEASE - Monetary Policy Decisions, 4 July.
ECB Press Conference
PRESS CONFERENCE - Introductory statement, Willem F. Duisenberg, President of the European Central Bank, Lucas Papademos, Vice-President of the European Central Bank, Luxembourg, 4 July.
IMF Working Paper
RESEARCH - On the Origins of the Fleming-Mundell Model, Working Paper by James M. Boughton, Policy Development and Review Department, June 2002.
Research from the St Louis Federal Reserve Bank
RESEARCH - The Stock Market: Beyond Risk Lies Uncertainty, By Frank A. Schmid, published in The Regional Economist - A Quarterly Review of Business and Economic Conditions from The Federal Reserve Bank of St. Louis.
Brazil bank acts to boost Real
BRAZIL - Brazil's central bank said yesterday it would inject $1.5bn (£976m) into the currency market this month to help steady the Real, which has fallen to a record low amid uncertainties ahead of October's presidential elections.
ECB holds rates steady
GERMANY - The European Central Bank's governing council decided on Thursday to leave the eurozone's benchmark interest rate unchanged at 3.25 per cent.
Argentina to make payment on IMF debt Thursday
ARGENTINA - Argentina will today make a scheduled 52 mln US$ payment on its IMF debt, said central bank chairman Aldo Pignanelli.
China's central bank tackles money laundering
CHINA - The People's Bank of China has formed a division to combat money laundering, a crime that involved up to 200 billion yuan (HK$188.6 billion) on the mainland last year.
Bank of England leaves interest rates at 4%
UK - The Bank of England's monetary policy committee on Thursday left its benchmark interest rate unchanged at 4 per cent, a 38-year low.
Germany clears way for new bank rules
GERMANY - The major remaining barrier to a global shake-up of bank reserves has been removed after the German government agreed to a politically-sensitive compromise over lending to small companies.
Reserve Bank of New Zealand News Release
NEWS RELEASE - OCR increased to 5.75 per cent, 3 July.
Reserve Bank of Australia Media Release
MEDIA RELEASE - Early release of cash rate information by Bloomberg, 3 July.