Central Banks
IMF corrects its estimate of Philippine reserves
PHILIPPINES - The International Monetary Fund has acknowledged that the Philippine central bank's gross international reserves position is stronger than the fund's initial estimate, the bank said.
ECB Monthly Bulletin August 2001
REPORT - The European Central Bank has published its Monthly Bulletin for August. In the report the bank voiced concerns about the risks to growth in the eurozone, indicating for the first time that its forecasts for the year might be too optimistic.
Monetary policy in Thailand, Pridiyathorn Devakula
SPEECH - Pridiyathorn Devakula, The Governor of the Bank of Thailand, gave a speech at the APFA 2001 Conference, Bangkok, 24 July. The speech was titled Monetary Policy in Thailand: Current Challenges and Prospects.
IMF Quarterly Emerging Market Financing Report
REPORT - The International Monetary Fund (IMF) yesterday, 8 August, published on its website the latest Emerging Market Financing: Quarterly Report on Developments and Prospects, which covers the second quarter of 2001.
Mervyn King on the International Financial System
SPEECH - Speech by Mervyn King, Deputy Governor of the Bank of England at the 20th Anniversary of the Indian Council for Research on International Economic Relations.
The Federal Reserve Beige Book
REPORT - The Federal Reserve has published on 8 August its regular Summary of Commentary on Current Economic Conditions by Federal Reserve District known as the Beige Book.
Slovenian Co to supply software to Bosnian c bank
BOSNIA - Slovenian computer company Aster signed a contract in the beginning of August 2001 with the Bosnian Central Bank for the implementation of accountancy and bank software.
Manila's Arroyo not pushing for currency control
PHILIPPINES - Philippine President Gloria Macapagal Arroyo said on 9 August she was not pushing for currency controls but added: "Never say never."
India c bank revises CRR rules for deposits
INDIA - The Reserve Bank of India (RBI) has clarified that scheduled commercial banks, excluding regional rural banks, are exempt from the minimum cash reserve ratio (CRR) requirement of three percent on inter-bank term deposits/ term borrowing…
The Outlook for the U.S. Economy
SPEECH - President and CEO of the Federal Reserve Bank of Chicago Michael Moskow gave a speech to the Priority One Annual Meeting, Crowne Plaza Five Seasons Hotel, Cedar Rapids, Iowa, 7 August.
Bank of England Inflation Report - August 2001
REPORT - The Bank of England has published its latest inflation report for August 2001. The report suggests that the UK economy will remain weak in 2001 before starting to recover in 2002.
Argentina's int'l reserves fall another 2.2%
ARGENTINA - Argentina's international reserves fell by 2.2% between 1 August and 2, according to latest data issued by the country's central bank.
Tanzania to suspend German currency printer deal
TANZANIA - The Tanzanian government has directed the central bank to rescind its decision to award a German currency printing firm a multi-million dollar tender to print banknote for Tanzania due to a recent report of mass misprinting by the company, the…
Latvian c bank says liquidity returning to normal
LATVIA - Latvia's central bank said on 8 August that interbank liquidity was returning to normal after a months' long squeeze and it was now able to offer more funds to the market.
Nigeria c bank weans banks off govt loan addiction
NIGERIA - The Nigerian central bank's drive to discourage commercial bank lending to regional and local governments should control money supply and inflation but at the expense of bank profits, bankers and analysts said.
Taiwan beefs up reserves
TAIWAN - Taiwan's foreign exchange reserves last month rose by US$983 million, month on month, to US$110.11 billion.
Lebanon c bank remains main supplier of dollars
LEBANON - Demand for U.S. dollars was limited in the Lebanese market this week, with the central bank the main supplier of the hard currency, dealers said.
ECB Working Paper Series, No 70
RESEARCH - Central Bank Forecasts of liquidity factors: Quality, publication and the control of the overnight rate, by Ulrich Bindseil, July 2001.
Infrastructure and Economic Development
SPEECH - Remarks by Federal Reserve Governor Edward Gramlich at the Texas Trade Corridors New Economy Conference, San Antonio, Texas on 3 August.
The securities activities of banks
SPEECH - Testimony of Governor Laurence Meyer, before the Subcommittee on Financial Institutions and Consumer Credit and the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises of the Committee on Financial Services, U.S…
Argentina looks to $6bn IMF loan
ARGENTINA - Argentine officials are confident of winning support for a new loan of $6bn or more from the International Monetary Fund to help the country contain the crisis of confidence engulfing its economy.
Polish opposition party blasts central bank policy
POLAND - Poland's opposition social democrats, tipped to win general elections in September, blasted the central bank on 4 September for ignoring a slowing economy and mounting unemployment in its ambitious anti-inflation drive.
Bankers say no ATMs near casinos in border regions
THAILAND - The Thai Bankers' Association says that no members have automated teller machines or credit card approval terminals near or inside casinos located outside Thai territory along the Laotian and Cambodian borders.
Japan profits on yen interventions
JAPAN - The Japanese government has made a profit of about YEN 6,000bn ($49bn) on its foreign exchange reserves during the last decade, partly due to heavy bouts of intervention, a former Ministry of Finance official has said.