Central Banks
CPSS revises glossary of payment system terms
A revised version of the CPSS / BIS publication "A glossary of terms used in payment and settlement systems" is now available for download on the BIS website.
BoE pressed to publish dissent on forecasts
Pressure is mounting on the Bank of England to make its inflation forecasts more transparent despite recent attempts by the central bank to make public the divergent views of its policymakers. The Bank's quarterly inflation forecast is closely watched by…
Manila c.bank taps dlr reserves for maturing debts
The Philippines' central bank will use the country's dollar reserves to pay off debts worth $400 million due to mature this week, while it works out the terms of club loans, central bank governor Rafael Buenaventura said on Feb. 19, 2001. The Philippine…
Monetary Policy in a Cashless Society-P. de Grauwe
Paul De Grauwe and Claudia Costa have published in association with the Centre for Economic and Policy Research a discussion paper titled "Monetary Policy in a Cashless Society". Their main conclusion is that the central bank will lose its traditional…
Chile economy posts lowest growth of 2000 in Dec
Chile's economy expanded 2.4 percent in December 2000 from the year before, posting its lowest monthly growth in 2000, the central bank said on Feb 19, 2001.
Trichet confident consumers will buoy French econ
In an interview on national radio, Bank of France governor Jean-Claude Trichet painted an upbeat picture of the French economy Feb 19, insisting strong domestic demand and robust consumer spending will help protect it from a slowing U.S.
Vietnam,Russia look to bilateral payment mechanism
Risks encountered by Vietnam's businesses in trading with Russian partners will likely be removed if talks between the visiting Russian banking delegation with their Vietnamese counterparts bear fruit.
ECB- Cross border use of collateral: users survey
The European Central Bank (ECB) on Feb 19 published a report presenting the results of a survey on the cross-border use of collateral.
Greek cbank warns of inflationary pressures-paper
Greece's central bank believes the government's target of average 2.3 percent inflation in 2001 may be beyond reach if inflationary pressures in the domestic economy are not reined in, Greek newspaper To Vima reported on Feb 18, 2001. Citing sources, To…
Fraga says Brazil's economy is not overheating-pap
Brazil is not growing beyond its means, Central Bank President Arminio Fraga said in an interview published on Feb 18, 2001, just days after Latin America's biggest economy posted its fastest growth rate in five years. Official data released on Feb 14…
Bank of Uganda Mutebile warns on statistics
Uganda's central bank governor, Emmanuel Tumusiime Mutebile, has warned politicians against interfering with the compilation of statistics. He said independence of the Uganda Bureau of Statistics (UBOS) is the only way correct indicators of the economy…
Bush adviser-Sept G7 FX intervention mistake-paper
Lawrence Lindsey, the top economic adviser to U.S. President George Bush, was quoted on Feb 17 as saying intervention by G7 central banks last September to support the euro had been a mistake.The International Herald Tribune also quoted Lindsey as…
ECB'S Welteke assumes U.S. still wants strong dlr
European Central Bank council member Ernst Welteke said on Feb 17, 2001 that he could imagine the United States would remain interested in a strong dollar, according to a spokesman for the central banker. Welteke said a strong dollar policy would help…
BoE's George says may have to pen inflation letter
Bank of England Governor Sir Edward George said on Feb 17, 2001 it was possible inflation in Britain would stray a full point away from its target, meaning he would have to write to the government explaining why. UK inflation currently stands at its…
Duisenberg can draw satisfaction from G7 meeting
For European Central Bank President Wim Duisenberg, Feb 17 meeting with the G7 godfathers of global finance in Palermo must have been a thoroughly satisfying experience. None of the finance ministers from the Group of Seven leading industrial countries…
Dissent erupts between government, Bank of Japan
Simmering differences between the government and the Bank of Japan over how to revive the economy burst into the on Feb 16, 2001 on the eve of a high-profile meeting of finance ministers and central bankers of the world's seven richest nations. Finance…
Korea c.bank head warns of overheating treasuries
Central Bank of Korea Governor Chon Chol-hwan said on Feb 16, 2001 the local treasury market was showing signs of overheating, comments analysts saw as a bid to shift interest to flagging corporate bond issues. Chon said in a statement the treasury…
Mongolia January inflation jumps 5.5 pct from Dec
Mongolia said on Feb 16, 2001 its monthly inflation jumped 5.5 percent in January 2001 compared with December 2000, mainly because of a rise in food and energy prices. The central bank's Monthly Bulletin of Statistics said the rent and energy price index…
Philippine c.bank leaves rates unchanged
The Philippine central bank decided on Feb 16, 2001 to keep its benchmark overnight interest rates unchanged, saying it preferred to monitor U.S. Federal Reserve moves on rates in the next couple of weeks before acting. The key rates were last reduced by…
Zimbabwe reneges on pledge to limit RBZ overdraft
The Zimbabwe government, caught between the need to reduce the cost of its domestic borrowings and its insatiable appetite for funds to fund its recurrent expenditure, plans to waive the 20 percent limit on its overdraft facility at the central bank as…
New FRBNY research on exchange rates and wages
New research from the Federal Reserve Bank of New York by Linda Goldberg and Joseph Tracylooks at the effects of exchange rate fluctuations across the population - important in increasingly globalized economies. They offer an explanation of the…
British public see EMU membership as inevitable
According to a new poll reported by GrahamBishop.com, the British public sees EMU membership as inevitable by 2010 and the government is expected to take the lead on pushing for the benefits of EMU participation. The report also contends there has been a…
Yugo cbank gets more control with new payment plan
Yugoslavia's central bank said on Feb 16, 2001 its proposal to re-establish foreign currency payments between Serbia and parts of Yugoslavia not using the dinar would allow it to regain control over money transfers countrywide. "Payments will be made…
Bulgaria's BNB in dispute with Mileti Mladenov
The Bulgarian National Bank and the Deposit Guarantee Fund got involved in a strange dispute when the draft law on bank insolvency was discussed by the parliamentary legal committee. The reason for the dispute was that Mileti Mladenov, head of the Fund,…