Central Banks
Euro launch reaches its final phase
ARTICLE - Securitas GmbH, a German armoured-car company, has suffered only a few mishaps since it began hauling the new euro cash in September. Some workers threw out their backs lugging the 20-kilo sacks of coins. Others accidentally dropped the heavy…
ECB net forex reserves
GERMANY - The Eurosystem's net foreign currency reserves decreased by EUR0.1 billion to EUR255.3 billion in the week ended 14 December.
Polish fin min seeks central bank truce
POLAND - Polish Finance Minister Marek Belka appears anxious to extend the olive branch in an escalating feud between the government and Poland's central bank over high interest rates and the surging zloty.
Legacy cash spending impact on econ hard to gauge
GERMANY - Trying to pin down the exact boost to the euro-zone economy from spending in undeclared legacy currency ahead of the 1 January introduction of euro notes and coins is proving to be as slippery as tracking such money in the first place.
C bank to put new LTL 20 banknote into circulation
LITHUANIA - The central Bank of Lithuania will put new twenty-litas notes into circulation on 17 December 2001.
IMF: World economy to remain weak
US - The world's economies have suffered greatly due to the 11 September terror attacks, but a slow recovery may be under way, the International Monetary Fund (IMF) has said in issuing a fresh report on the state of the global economy.
Euro Profits Bonanza
CENTRALBANKNET SPECIAL REPORT - Europe's national central banks stand to profit to the tune of billions of euros as a result of retiring Europe's existing paper currencies and introducing a single currency.
Japan ready to bail out banks
JAPAN - Japan's central bank stands ready to bail out the country's ailing banks - but only in the event of a crisis.
Germans snap up euro kits
GERMANY - Euro coins have gone on sale in Germany, accompanied by celebrations in several major cities.
Argentina meets debt deadline
ARGENTINA - Argentina has paid a $700m instalment on its national debt which fell due on Friday, narrowly avoiding a default.
Euro launch boon for US tourists
US - In more normal times, American interest in the introduction of the euro currency might spark a fair amount of attention.
Euro should rise, ECB has no leadership dilemma
GERMANY - The euro's weakness on foreign exchange markets is attributable partly to the fact that the single European currency is young, German Finance Minister Hans Eichel told a newspaper Thursday.
Australia's RBA to deregulate credit card sector
AUSTRALIA - The Reserve Bank of Australia Friday proposed to deregulate the country's credit card system, forcing down fees and allowing retailers to recoup costs from customers.
Bank of England/NOP Inflation Attitudes Survey
NEWS RELEASE - This news release describes some of the main results of the Bank of England's November 2001 survey of public attitudes to inflation.
ECB Working Paper
RESEARCH - ECB Working Paper titled 'Some stylised facts on the euro area business cycle' by Anna-Maria Agresti and Benoit Mojon, December 2001.
Speech by Bob McTeer of the Dallas Fed Bank
SPEECH - Speech by Bob McTeer, President and CEO, Federal Reserve Bank of Dallas. The speech mentions 'The French Adam Smith' and begins with a look at the theory of the invisible hand. That one persons spending is anothers income and all benefit…
Speech by Jarle Bergo, Dep Governor Norges Bank
SPEECH - Speech by Deputy Central Bank Governor Jarle Bergo of Norges Bank. The speech titled 'Monetary policy in an uncertain world' considers Norway's current inflation policy and looks at the influence monetary policy has on the economy.
BIS Quarterly Review December 2001
REPORT - Bank for International Settlements Quarterly Review December 2001 - International banking and financial market developments.
Book Review: Political Economy of Monetary Union
BOOK REVIEW - The book, edited by Paul De Grauwe, provides a collection of key texts on the theory of monetary unions and optimal currency areas.
ECB Press Conference
PRESS CONFERENCE - ECB press conference on the occasion of the Signing of the Agreement between the European Central Bank and Europol. Willem F. Duisenberg, President of the European Central Bank, Frankfurt, 13 December 2001.
ECB Press Release
PRESS RELEASE - Signing of the agreement between the European Central Bank and Europol, 13 December 2001.
Fed officials were split over rate cut in November
US - Some Federal Reserve officials expressed discomfort last month with the rapid interest-rate cuts promoted by Fed Chairman Alan Greenspan. Others warned against moving too slowly.
IMF Koehler says political unity crucial to euro
US - International Monetary Fund Managing Director Horst Koehler said Friday that "sorting out" to process of political integration in Europe will be key to reviving a persistently weak euro.