Central Banks
Central bank to exchange Irish money indefinitely
The central bank of Ireland has said that it will continue to exchange Irish banknotes and coins into euros over the coming years.
Germany to face warning on deficit rules breach
Gerhard Schroder will today, Wednesday, be told by Brussels officials to increase efforts to tackle Germany's economic problems as speculation increases that the country will break the euro's budget deficit rules, the stability and growth pact, for a…
ECB's Duisenberg defends his wife in passport row
The long running saga of Gretta Duisenberg's Palestinian flag flying continues with her visit to the Israeli-occupied West Bank. She has been told she can't use her diplomatic passport for private travel but claims not to have another passport.
New bank chief vows to control Brazil's inflation
Henrique Meirelles, who took over as president of Brazil's central bank on Tuesday said a tight grip would be kept on inflation but said it might take longer than expected to meet current targets. He also reassured investors he would be backed by…
Czech national bank may adopt euro in 2007
The Czech National Bank (CNB) has put its weight behind the Finance Ministry's plans for public finance reform, saying that the country should prepare for adoption of the euro in 2007.
Argentina complies with IMF currency restrictions
Argentina's central bank on Tuesday night fully lifted all currency market controls with the dual goal of maintaining the current price of the dollar and complying with the demands of the International Monetary Fund.
Islamic banking conference scheduled for March
A prestigious conference on Islamic banking and finance titled 'Adapting to a Rapidly Changing Regulatory and Financial Environment' is set to take place in Bahrain. The speaker list includes three central bank governors.
Guynn on the economic outlook for 2003
SPEECH - In the speech 'The Economic Outlook for 2003' Jack Guynn of the Federal Reserve Bank of Atlanta described the current recovery as "one of a kind" which followed a "unique" downturn. He expects moderate economic growth over the period immediately…
Minehan on the economic outlook
SPEECH - In the speech 'Annual Economic Summit and Outlook' Cathy Minehan of the Federal Reserve Bank of Boston said the recovery was well positioned to continue, moderately but steadily. She emphasised that patience was needed but that the further…
RBNZ Consultation - Designated payment systems
REPORT - The Reserve Bank is proposing new legislation which will allow for the designation of payment systems, and welcomes comments on the consultation document Designated payment systems, 20 December.
Bank of Canada Financial System Review, Dec 2002
REPORT - The Bank of Canada published its semi-annual Financial System Review on 19 December. The report says that the Canadian financial system has coped well during the recent period of increased financial stress. The weakening economic environment of…
Fed's Guynn says U.S. laying base for solid growth
Atlanta Federal Reserve Bank President Jack Guynn said on Monday the U.S. economy may grow only slightly faster this year than in 2002, but recent economic adjustments have laid the base for solid future growth.
Sweden can thrive without the euro
ARTICLE - After Sweden named the date for its euro referendum this article by a Swedish politician says that little enthusiasm exists across Europe for the euro and Swedes themselves are sceptical. It also claims that Britain would be striking a "blow…
New China central bank chief pledges stable policy
China's newly appointed central bank governor Zhou Xiaochuan has pledged to keep monetary policy stable this year and improve financial services to help spur economic growth, it was reported on Tuesday.
First victory for Trichet in fraud trial
Bank of France Governor Jean-Claude Trichet had a successful first day on Monday in the trial over his alleged role in one of France's largest ever banking scandals when the presiding judge rejected a request for the trial to be delayed by one year to…
Takenaka says govt expectations of BOJ 'very high'
Japan's Financial Services and Economics Minister Heizo Takenaka said on Tuesday that the government is working hard to overcome deflation and its expectations for the Bank of Japan's policies are "very high".
Economist meeting debates technology growth
Seven thousand economists from around the world examined the impact of globalization and information technology, during a weekend gathering in Washington, concluding that the period 1995 to 2000 saw a likely once only increase in technological gains…
Soberon - Cuban bank system had a successful 2002
Cuba managed to maintain monetary stability in 2002, despite difficult tests faced by its banking system in 2002 as a result of the world economic crisis and its effects on the island, Francisco Soberon, president of the Central Bank of Cuba, has said.
Garganas calls for ECB to change its rules
The eurozone's policy framework suffered a further blow when a leading central banker called for a key change in the way interest rates are set. The criticism comes after the ECB was forced to defend the stability and growth pact. However this time the…
Unicon appointed central bank auditor in Russia
Unicon/MS Consulting Group has been appointed as the main auditor of the central bank of Russia for 2002. The bank's PR department said that this decision was reached at a meeting of the National Banking Council chaired by Alexei Kudrin on 30 December.
Argentine senate approves central bank chief
Argentine lawmakers have approved the 2003 budget and ratified the new central bank chief Alfonso Prat-Gay, helping President Eduardo Duhalde's efforts to secure an aid agreement with the International Monetary Fund.