Central Banks
Speech by Thomas Dawson of the IMF, 10 Jul
SPEECH - In the speech 'The IMF's Role in Asia: Part of the Problem or Part of the Solution?' Dawson said the regional crisis which threw formerly buoyant Asian economies into a tailspin five years ago was itself a critical acid test for the…
China's foreign exchange reserves reach 242.7bn US
CHINA - China's foreign exchange reserves reached 242.76bn US dollars by the end of June this year, up 34.2 per cent over a year earlier, according to statistics released by the People's Bank of China, the central bank, on Thursday.
Uzbek credit unions to get 20m dollars in project
UZBEKISTAN - The Asian Development Bank, the government and Central Bank of Uzbekistan have signed a memorandum of mutual understanding on a project of development of small and micro financing, the ADB office in Tashkent said.
IMF and World Bank to shorten meetings
US - The International Monetary Fund and World Bank have again decided to cut short their annual meetings in Washington this year, fearing disruption by large demonstrations.
Stock slide ups economic uncertainty - Fed's Poole
US - St. Louis Federal Reserve Bank President William Poole said on Thursday the U.S. economy appears to be doing okay but that the prolonged stock market sell-off had made the outlook "murkier."
Brazil's Fraga: Expects continued IMF, G7 support
BRAZIL - Brazilian central bank head Arminio Fraga said on Thursday he expects continued support from the International Monetary Fund and the Group of Seven industrialized nations, following a meeting with top Wall Street bankers.
Deutsche Bundesbank - Annual Report 2001
ANNUAL REPORT - The Deutsche Bundesbank has published its Annual Report for the year ended 2001.
Speech by T Padoa-Schioppa of the ECB, 10 July
SPEECH - In a speech titled 'EU structures for financial regulation, supervision and stability' to the Committee on Economic and Monetary Affairs of the European Parliament, Padoa-Schioppa said "intellectually" a single, pan-European financial services…
ECB Monthly Bulletin, July 2002
REPORT - The European Central Bank published its July 2002 Monthly Bulletin on 11 July. The ECB reiterated its current wait-and-see stance on interest rates, saying inflation remained a concern but mixed signals about the state of the euro zone economy…
Research paper from the HKMA
RESEARCH - Research papers on economic and financial subjects prepared by staff members in the Research Department of the HKMA. "Price Convergence between Hong Kong and the Mainland" by Jiming Ha and Kelvin Fan, June 2002, published 11 July 2002.
European Central Bank Consultation Announcement
ANNOUNCEMENT - Oversight standards for euro retail payment systems, 8 July.
Oversight standard for euro retail payment systems
REPORT - European Central Bank Document for public consultation, 8 July.
IMF Press Release
PRESS RELEASE - IMF Managing Director Horst Kohler Announces Advisory Group on Argentina, 10 July.
Speech by David Carse, HKMA, 11 July
SPEECH - In the speech 'Enhancing Deposit Protection in Hong Kong' Carse said that his objective was to explain the thinking behind the decision to introduce deposit insurance in Hong Kong and to describe the main design features of the proposed scheme…
Minutes of the Federal Open Market Committee
MINUTES - The Federal Reserve Board on Wednesday released the minutes of its discount rate meetings from 1 April to 6 May. "No sentiment was expressed in favor of an increase in the discount rate," the April 29 minutes said. The language in the May 6…
Simple answers in debate are likely to mislead
LETTER - Letter published in Thursday's Financial Times from Christopher Taylor a Visiting Fellow at the National Institute of Economic and Social Research, London.
Russia change valuation of gold and forex reserves
RUSSIA - The Central Bank of Russia is changing the method for calculating the gold and foreign exchange reserves, Central Bank First Deputy Chairman Oleg Vyugin said on Thursday.
Ecuador's banks adopt electronic interbank system
ECUADOR - Ecuadorian banks have 60 days as of 27 June to adapt their systems to the central bank's electronic interbank payment system, Ecuadorian financial daily El Comercio reported.
Solomon Islands bank head - economy at rock-bottom
SOLOMON ISLANDS - Governor of Central Bank Rick Hou says Solomon Islands has hit rock-bottom as far as the economy is concerned.
MPs urge name change at the Bank of England
UK - Did you hear the one about the Scotsman, the Welshman, the Ulsterman and the Bank of England? The Scotsman newspaper reports on Thursday that the Bank of England was infact founded by a Scotsman and that the word "England" is inappropriate in the…
Friedman predicts euro's end within 15 years
GERMANY - The euro system will disintegrate within 15 years because of economic and cultural differences between member states, the Nobel Prize-winning US economist Milton Friedman says today, reported the UK's Independent newspaper on Thursday.
Speech by Wim Duisenberg, ECB President, 5 July
SPEECH - In his opening remarks to the International Research Forum on Monetary Policy Duisenberg said we have issues to address at the Forum which are at the heart of monetary policy-making, and which are of great relevance to central bankers worldwide.
Speech by H Kohler, Managing Director, IMF, 5 July
SPEECH - In a speech to the Central Bank Governors' Symposium titled 'Reform of the International Financial Architecture: A Work in Progress' Kohler acknowledged how much we depend on central bankers in our member countries. "Every day, you have to take…
Speech by Otmar Issing of the ECB, 5 July
SPEECH - In a speech titled 'Some reflections on handling monetary policy in a global environment' Issing said that coordinated policy action by central banks of the type seen after the September 11 attacks would likely remain limited to exceptional…