Central Banks
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.
Hungary PM nominates new monetary council member
HUNGARY - Prime Minister Viktor Orban has nominated Tamas Karo, a U.S.-Hungarian dual citizen and a personal advisor to the President of Hungary, to the National Bank of Hungary's Monetary Council, state news agency MTI says.
Changeover to euro not to create hidden pressure
EUROPE - The changeover to the euro should not create hidden inflationary pressures or VAT increase, President of the European Parliament Economic and Monetary Affairs Committee, Christa Randzio-Plath, said, referring to European Central Bank (ECB)…
Dual currency system to be in place in Montenegro
YUGOSLAVIA - The Central Bank of Montenegro has drawn up a plan for the transition from the German mark to the euro, which will last from the beginning of the next year until June.
Bank of Korea gov to attend Kansas fed symposium
SOUTH KOREA - Bank of Korea Govenor Chon Chol-hwan will begin a six-day visit to Kansas City on 29 August to attend a symposium organised by the U.S. city's Federal Reserve Bank (FRB).
Central bankers' speak out - Topics for our times
CENTRALBANKNET'S SPECIAL REPORT - For our Monday special feature this week, Centralbanknet surveys some recent speeches by central bank governors and discovers that they do not always keep to the beaten track.
Speech by Bob McTeer of the Dallas Fed
SPEECH - Bob McTeer, President and CEO of the Federal Reserve Bank of Dallas gave a speech on 23 August before the New Roads & E-Roads Conference, Dallas, Texas.
Minutes of the Federal Open Market Committee
REPORT - A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washington, D.C., beginning on Tuesday, June 26, 2001, at 2:00 p.m. and continuing on Wednesday, June 27, 2001, at…
German wise man eyes lower GDP, ECB rates
GERMANY - Bert Ruerup, one of the German government's five economic advisers or "wise men", cut his forecast on 23 August for German growth in 2001 and said the way was clear for the European Central Bank to cut interest rates.
Pre - euro flood of forgeries is feared
EUROPE - Gangs of counterfeiters are set to offload fake francs, D-Marks and other eurozone currencies before the changeover to euro notes and coins in January, retailers have been warned.
C Bank of Lebanon launches new composite index
LEBANON - Banque du Liban launched a new composite index on 22 August, 2001.
Copom keep rates unchanged at 19% per year
BRAZIL - If the economic climate in Argentina is enough to keep the Central Bank in a state of alert, Brazil's weak second quarter GDP data only added to its concerns about the future of the Brazilian economy.
Australian economy 'immune' to turmoil - Costello
AUSTRALIA - Australia would be immune to looming global economic turmoil, Australian Treasurer Peter Costello said yesterday as the threat of recession looms larger for the US. Mr Costello predicted Australia would top the world economic growth table…
Pakistan forex reserves up $30 mln to $3.289 bln
PAKISTAN - Pakistan's central bank said on 23 August total liquid foreign exchange reserves were $3.289 billion as of 18 August, up by some 30 million dollars from the previous week's $3.259 billion.
Dutch central bank sold gold last week
NETHERLANDS - Data from the Dutch central bank on 21 August showed it sold gold for 39 million euros ($35.65 million) last week as part of its programme to sell 200 tonnes through 2004.
BSP eases ruling on bearer checks
PHILIPPINES - Banks may now resume issuing pay-to-cash checks after the Bangko Sentral ng Pilipinas (BSP) reversed its earlier decision to ban so-called "bearer checks".