Central Banks

RBI plan reserve to cushion investment value moves

INDIA - The Reserve Bank of India is toying with the idea of directing banks to create a special reserve as a cushion for any adverse movements in the value of their investment portfolios that may be triggered off by interest rate volatility.

Japanese policy makers clash over economy

JAPAN - Japanese policy makers are increasingly clashing on how to fix the nation's moribund economy, with the finance minister issuing a clear call for re-inflating the economy by actively boosting price levels, even as the central bank decided not to…

Euro coins out in Austria ahead of official launch

AUSTRIA - A small volume of euro-denominated coins have already entered into circulation amongst the general public in Austria. This is despite the fact that starter packs of euro coins are not officially due to be released to private citizens until mid…

Greenspan upbeat on economy

US - Prospects for the future of the US economy have been "scarcely diminished" by the 11 September attacks, Federal Reserve chairman Alan Greenspan has said.

Vietnam's Eximbank begins payments scheme

VIETNAM - The joint stock Commercial Bank for Import and Export of Vietnam, Eximbank, held on 11 October the second phase of bidding for the project "Intrabank payment system and Eximbank's applications."

Fed's Ferguson - Long term US econ prospects sound

US - Federal Reserve Vice Chairman Roger Ferguson on Tuesday said the U.S. economy's longer-term prospects "remain sound," but said it is not known how long it will be before U.S. economic growth begins to recover from the events of 11 September.

Deadline passes for banks to meet new rules

BRAZIL - Last Friday 12 October saw the passage of the deadline for banks to meet the decision of the National Monetary Council (CMN), taken at its last meeting, demanding that the institutions have more equity to meet operations with foreign exchange…

BOE Oct minutes: MPC voted 8-1 to cut repo rate

UK - The Bank of England's Monetary Policy Committee voted 8-1 to cut the repo rate by a quarter percentage point to 4.5% in October, just weeks after it had cut rates by an equal amount in a 7-2 vote, according to minutes of those meetings released…

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