Central Banks
'Fingerprint' card system test in Malaysia
MALAYSIA - MasterCard International is testing an antifraud system meant to detect counterfeit payment cards by reading the properties and orientation of the microscopic particles in a magnetic stripe.
Trinidad: ex-central bank governor helps party
TRINIDAD - Port of Spain, Trinidad: Former Central Bank Governor Winston Dookeran says he is assisting the main opposition United National Congress (UNC) to prepare its manifesto for the next general elections, widely-expected by October.
Bank of England downgrades inflation forecast
UK - The Bank of England said today it was ready to cut interest rates, reversing its position three months ago when it expected to put up the cost of borrowing.
Speech by Masaru Hayami, Bank of Japan, 24 July
SPEECH - In a speech titled 'The Challenges Facing Japan's Economy' Hayami said that the dollar's current weakness is not surprising given its history of volatility, though he hoped it will not fall further. He added that the dollar's recent weakness on…
Dollarization in Canada: The Buck Stops There
RESEARCH - In a Technical Report from the Bank of Canada published August 2002, John Murray and James Powell consider the debate in Canada concerning the potential benefits of formally adopting the U.S. dollar as the national currency.
Speech by Masaru Hayami, Bank of Japan, 19 July
SPEECH - In the speech, published 5 August, at the presentation of the Bank's Semi-annual Report on Currency and Monetary Control Hayami said Japan's economy is about to undergo its third cyclical recovery since 1990. He also talked of the Bank's hopes…
Speech by Robert Parry, San Francisco Fed, 2 Aug
SPEECH - In a speech 'After the Recession: A Monetary Policymaker Looks Ahead' Parry said the decline in the U.S. dollar this year -- around 10 percent against the euro and the yen -- could help to boost growth by raising demand for U.S. goods. He also…
Economic Review from the Kansas City Fed Bank
PUBLICATION - Consumer Confidence After September 11 and The New Power of Regions: A Policy Focus for Rural America-A Conference Summary, Second Quarter 2002.
IMF Survey, 5 August
REPORT - IMF Survey, Topical coverage of the IMF's activities, policies, and research, 5 August. Includes Jack Boorman on the Argentina crisis and lessons to be learned from it.
Brazil's interbank clearinghouse to bring benefits
BRAZIL - Brazil's new interbank payment clearinghouse is expected to stimulate online transactions between banks once it becomes operational, Brazilian financial daily Valor Economico reported.
Kuwait gov't reviews action on money-laundering
KUWAIT - The Deputy Prime Minister, Minister of State for Cabinet and National Assembly Affairs, Mohammed Deifallah Sharar said, in a Cabinet statement, that the council followed up on steps aimed at combating money-laundering and examined a report,…
Banks urged to expand risk management techniques
US - A top Treasury Department official said this week that regulators need to push banks to back up advanced risk management techniques with old-fashioned, case-by-case credit analysis.
BOJ to up security with new bank note issue
JAPAN - Novelist Ichiyo Higuchi (1872-1896), whose portrait is to be featured on a redesigned 5,000 yen bill, will be the first woman to appear prominently on Japanese paper currency since the end of World War II.
RBI group okays e-money
INDIA - The RBI Working Group on electronic money has said that e-money could be used as a substitute for the central bank notes and coins even though it would not be "desirable" to place any limit on storing monetary value in e-money.
Ecuador bank chief predicts 6% growth for 2003
ECUADOR - Ecuador's economy is set to expand by six per cent next year, up from four per cent growth this year, the country's central bank president, Mauricio Yepez, predicted on Friday.
Economic Review from the Atlanta Fed Bank
RESEARCH - The Federal Reserve Bank of Atlanta has published its Economic Review for the Second Quarter 2002. The Review features articles including 'The Economics of Payment Finality' and Asset Returns and Economic Risk.
Taiwan dollar drops in wake of president's remarks
TAIWAN - The New Taiwan dollar yesterday fell against its US counterpart, impacted by Taiwan President Chen Shui-bian's remarks on cross-strait relations over the weekend. The unit was down NT$0.102 to close at NT$33.825 on the Taipei foreign exchange…
The price of a common currency
ARTICLE - Europe would soon regret any relaxation of the stability pact, argues Horst Siebert in the Financial Times, Tuesday.
Brown criticised for delay in naming Bank deputy
UK - Gordon Brown, the UK chancellor, faced criticism on Monday over the delay in appointing a new deputy governor for the Bank of England. Leaving the possibility that the 9 member Monetary policy Committee will have to sit a spare seat during what…
Paul O'Neill heals rift with Brazil on economy
US - Paul O'Neill and the Brazil government apparently saw eye to eye on Monday, with the US treasury secretary saying US support for Brazil had been consistent and his meetings with Brazilian policymakers "very cordial".
Double-dip recession unlikely - Fed's Poole
US - St. Louis Federal Reserve Bank President William Poole said on Sunday the odds the U.S. economy might fall back into recession given the stock market's recent woes were "very, very small."
EconSouth from the Atlanta Fed Second Quarter 2002
PUBLICATION - The Federal Reserve Bank of Atlanta has published its regular online magazine, EconSouth, for the Second Quarter 2002. The main feature of the latest edition asks the questions, Is the U.S. economic slowdown over? and If so, what path will…
IMF Press Briefing by Thomas Dawson
PRESS BRIEFING - Transcript of a Press Briefing by Thomas C. Dawson, Director, External Relations Department, International Monetary Fund, 1 August, Washington, D.C.