Central Banks

More gloom for Japan as BoJ downgrades economy

JAPAN - Confidence in Japan's precarious economy was further undermined on Thursday 20 September as the Bank of Japan lowered its assessment of the economy for the fourth time in as many months and official figures showed a 47.2 per cent slide in the…

Nigeria's central bank raises rates

NIGERIA - The Central Bank of Nigeria has raised the interest rate at which it lends to commercial banks by 2%, bucking the trend of globally coordinated rate cuts in the wake of the attacks on the US.

Fears grow for US economy

UNITED STATES - Fears for the US economy are growing, after the country's central bank revealed that there had been no signs whatsoever of an upturn before the terrorist attacks in New York and Washington.

The Federal Reserve Beige Book

REPORT - The Federal Reserve published on 19 September its regular Summary of Commentary on Current Economic Conditions by Federal Reserve District known as the Beige Book.

IMF's Kohler sees hope for economic recovery

US - The US economy is expected to show signs of recovery by the end of the year in spite of last week's terrorist attacks and the sharp decline in the airline industry, the International Monetary Fund said yesterday, 19 September.

IMF new lending rises slightly

IMF ANNUAL REPORT 2001 - Lending by the International Monetary Fund in its financial year 2001 to last April increased slightly, reflecting additional loans to Argentina and Turkey to assist their economic reform.

Embracing change, IMF looks for shareholder reform

IMF ANNUAL REPORT 2001 - The International Monetary Fund yesterday, 20 September, issued its annual report for 2001, highlighting its progress in implementing reforms and urging its members - particularly the advanced economies - to do the same.