Central Banks
Welteke - ECB focus is inflation, not growth
GERMANY - Ernst Welteke, member of the European Central Bank council, on 29 August said there were signs of a possible recovery of the euro zone's largest economy, but stressed the ECB's main task was to control inflation and not stimulate growth.
IMF to cut global forecasts
US - The IMF has cut its forecast for world economic growth this year to 2.8% from 3.2%, Reuters reported on 29 August citing unnamed sources at the international lender.
Hayami - Absolutely wrong to say BOJ OKs deflation
JAPAN - Bank of Japan Governor Masaru Hayami 29 August shot down suggestions the central bank is tolerating Japan's severe deflationary environment, Kyodo News reported.
Bank of England Quarterly Bulletin - August 2001
Research - The Bank of England has published its latest Quarterly Bulletin, Volume 41, Number 3, for August 2001.
Reserve Bank of Australia - Annual Report 2001
ANNUAL REPORT - The Reserve Bank of Australia today, 29 August, released its 2001 Annual Report.
Reserve Bank of India - Annual Report 2000 - 2001
ANNUAL REPORT - The Reserve Bank of India has published its Annual Report for 2000 - 2001. The Annual Report was released on 28 August.
The Monetary Policy of the ECB
RESEARCH - The European Central Bank published 'The Monetary Policy of the European Central Bank' on 28 August.
New notes pose problems for cash machines
SPAIN - Spain's Azkoyen, one of the world's leading cigarette and vending machine producers, is already cashing in on next January's launch of euro notes and coins.
Montenegro to introduce two-currency system
YUGOSLAVIA - The Montenegrin government will introduce a two-currency system in the republic, including the German mark and the euro, on January 1, 2002.
E Timor rushes to build new monetary system
ASIA-PACIFIC - E Timor rushes to build new monetary system - The region has never had a central bank and must create it from scratch, writes Joe Leahy.
High-value euro notes spark concern
FRANCE - Carrefour, the large French-based retail group, yesterday urged only small-scale distribution of high-denomination euro notes in the first months after the January 1 changeover to euro notes and coins, claiming the move would minimise confusion…
U.S. coins to cease circulation in Cuba
UNITED STATES - U.S. dollar coins will be taken out of circulation from the Cuban foreign currency commercial network as of October, the island's Central Bank reported 28 August.
Chile banks may soon pay interest on checking acc
CHILE - Banks might soon offer interest-bearing checking accounts to clients in Chile, after Central Bank President Carlos Massad on 28 August publicly invited the country's leading bank trade association to join in studying the matter.
Greece says readying for countdown to euro switch
GREECE - Greece, the euro zone's 12th member since January this year, is getting ready for a euro information blitz in the months ahead to familiarise citizens with the single currency changeover.
Effective websites: not just a beauty contest
RESEARCH - Today we show two pieces of research on central bank web sites. The first is taken from the journal Central Banking, produced by Central Banking publications, the latest August 2001 edition. The second is an extract from an article published…
Bank of Japan Discussion Paper
RESEARCH - A discussion paper from the Institute of monetary and economic studies, Bank of Japan by Hiroshi Fujiki. Money demand near zero interest rate: Evidence from regional data.
Brazil cenbank chief to meet IMF's Fischer
BRAZIL - Brazilian Central Bank President Arminio Fraga will leave for Washington D.C. today, 28 August, to meet with the outgoing No.2 official at the International Monetary Fund (IMF), the bank said on 27 August.
Unrestricted foreign currency in Egypt
EGYPT - According to Al-Bayan newspaper (August 22, 2001), the Egyptian Central Bank recently instructed all commercial banks in Egypt to provide any foreign currency sum required by local customers.
Central Bank's on-line banking system threatened
BRAZIL - The Central Bank may have to delay the starting date for its new on-line banking system, called Sistema de Pagamentos Brasileiro (SPB), from November.
U.S. risks inflation in rebound - Milton Friedman
UNITED STATES - The United States should pull out of recession in 2002 but will have to keep an eye on inflation when it does, Nobel prize-winning economist Milton Friedman said in an interview published on 27 August.
UAE central bank launches real time settlement
UAE - The UAE Central Bank launched its new Real Time Gross Settlement System in UAE's Citibank and Abu Dhabi Commercial Bank on August 25, 2001.