Central Banks
Dutch plan euro giveaway
NETHERLANDS - On 1 January 2002 the euro finally becomes legal tender in 12 different countries. More than 15 billion euro notes and 50 billion coins will be delivered to banks around Europe over the next few weeks in preparation.
Germany 'on the brink of recession' - Report
GERMANY - Germany has suffered a sharp fall in growth this year and the recovery next year is likely to be very slight, a bi-annual report from the country's top six economic institutes has warned.
Can Alan save the day again?
ARTICLE - Probably not. In the past decade, we've created inflated ideas of the Federal Reserve's power.
Rate cut row mars summit
GERMANY - The European Union has called for the European Central Bank (ECB) to take "further decisive action" in easing monetary policy in order to boost the eurozone's economy.
Soros lashes out at ECB
US - George Soros, the billionaire financial expert, has lashed out at the monetary policy of the European Central Bank (ECB).
Argentina draws up debt-swap plan
ARGENTINA - Argentina is preparing a new debt exchange aimed at easing its heavy interest burden, amid a raging debate as to whether the plan would in fact constitute a default.
Court bars Brazil c bank from liquidated bond sale
BRAZIL - The Central Bank's plans to sell R$11.004 billion in dollar-linked bonds owned by banks under government liquidation - Economico, Mercantil de Pernambuco and Nacional - is under threat.
Hayami says Greenspan against inflation targeting
JAPAN - Bank of Japan Governor Masaru Hayami said on Thursday U.S. Federal Reserve Chairman Alan Greenspan had told him the U.S. central bank chief was opposed to the idea of setting an inflation target for central banks.
Singapore MAS to review bank ATM rule in 2-3 years
SINGAPORE - The Monetary Authority of Singapore said Wednesday it will review the restriction on foreign banks' access to local banks' automated teller machine network in two to three years.
Finland tops economic league
FINLAND - Little Finland has knocked the United States off its perch as the world's most competitive economy, according to an annual ranking from the World Economic Forum (WEF).
ECB net gold reserves decline in Oct 12 week
GERMANY - The Eurosystem's net reserves in gold and gold receivables declined by EUR1 million to EUR128.2 billion in the week ended 12 October, the European Central Bank said Tuesday.
Speech by Sirkka Hamalainen of the ECB
SPEECH - Speech delivered by Dr. Sirkka Hamalainen, Member of the Executive Board of the European Central Bank, ACI, Dublin, 15 October.
Speech by Tony Latter of the HKMA
SPEECH - Opening Remarks by Mr Tony Latter, Deputy Chief Executive, Hong Kong Monetary Authority, at the Signing Ceremony for the Appointment of the Dao Heng Bank Group, HSBC and Hang Seng Bank as Placing Banks for the Retail Bonds of the HKMC, 22…
Speech by Urban Backstrom of Sveriges Riksbank
SPEECH - Speech by Governor Urban Backstrom of Sveriges Riksbank, Sweden's central bank, at The Riksdag's Finance Committee 16 October.
Reserve Bank of Australia Bulletin - October 2001
REPORT - The Reserve Bank of Australia has published its regular monthly bulletin for October, Future Directions for Monetary Policies in East Asia.
Philadelphia Fed Business Outlook Survey, October
SURVEY - The Federal Reserve Bank of Philadelphia has published its regular Business Outlook Survey for October 2001.
HKMA exec says no to US$ as Hong Kong's currency
HONG KONG - Hong Kong Monetary Authority Deputy Chief Executive Tony Latter said Monday said there was no need to make the U.S. dollar the city's official currency.
RBA buys a net $778 mln in forex market, September
AUSTRALIA - The Reserve Bank of Australia bought a net $A778 million in its foreign exchange market transactions in September, according to figures in its monthly bulletin.
Philadelphia Fed Oct. index plunges
US - The Federal Reserve Bank of Philadelphia's business outlook survey for October indicated the regional economy reversed following the 11 September terror attacks.
ECB Monthly Report October 2001
MONTHLY REPORT - The European Central Bank has published its Monthly Report for October 2001.
Bonds outperform T-notes on ECB monthly report
UK - Bonds marginally outperform T-notes with the 10-year yield spread narrowing to 1 bps as euro debt laps up the ECB's monthly report which highlighted an economic rebound in Europe could be delayed by 11 September attacks on U.S. cities.
Expectations of rate cut up in ECB monthly report
GERMANY - The European Central Bank yesterday strengthened expectations that it will cut interest rates soon by saying the eurozone faced moderate inflationary pressures but continuing risks to economic growth.
Testimony of the Fed Chairman Alan Greenspan
TESTIMONY - Testimony of Federal Reserve Board Chairman Alan Greenspan, before the Joint Economic Committee, U.S. Congress, 17 October.