Central Banks
Comment on the Fed's rate cut decision
UK - The Financial Times in London, 28 June, has published a comment on the US Federal Reserve Board's decision to cut it's key interest rate measure by 0.25 percent.
IMF - Quiet caution for Argentina's currency shift
ARTICLE - Centralbanknet's report on the IMF's Stanley Fischer who has visited Argentina. He has warned that the planned Argentine currency move may set a worrying precedent.
Mobile phone plan may hasten cashless society
EUROPE - The FT in London reports on 28 June that three major mobile phone manufacturers are negotiating with leading banks so that mobile phones can be made to act as a type of creidt card.
US rate cut to deter Thai outflows - Thai c.bank
THAILAND - The Thai central bank said on 28 June that the Federal Reserve's latest cut in U.S. interest rates would help deter the capital outflows from Thailand.
Bank of Canada outsources 500 jobs
CANADA - The Bank of Canada said on 27 June it has hired Electronic Data Systems Corp. to help run a program that sells Canada Savings Bonds and other types of debt to the public, cutting the central bank's payroll by a third.
Lithuanian c-bank to switch some reserves to euro
LITHUANIA - Lithuania's central bank said on 28 June it would "soon" start exchanging some of its reserves into euro to prepare for the change of the national currency's anchor to the euro from the dollar in February.
Computer law to fight bank fraud
US - The House Financial Services Committee approved legislation on 27 June that encourages regulators to link computer systems to help crack down on financial fraud.
Fed set for fresh rate cut - but by how much?
US - The US central bank, the Federal Reserve, will announce today, 27 June, whether it has decided to cut interest rates further to boost the flagging American economy.
History of recessions contradicts Greenspan
ARTICLE - David Leonhardt, writing in the New York Times, says that Federal Reserve Board Governor, Alan Greenspan, is wrong to be optimistic about the prospects for the US economy.
NBER - US 'recession' may already have peaked
ARTICLE - In a letter to the editor of the Financial Times in London, Martin Feldstein, President of the National Bureau of Economic Research in the US says that even if a recession occurs it will be a long time before it becomes official.
IMF appoints representative to Bulgaria
BULGARIA - Piritta Sorsa has been appointed as IMF's resident representative to Bulgaria.
New limited company for cash handling in Norway
NORWAY - Norges Bank, Den norske Bank ASA, Gjensidige Nor Sparebank, SpareBank 1 Gruppen AS, Terra-Gruppen AS, Fokus Bank ASA and Nordlandsbanken ASA have founded a joint limited company for cash handling.
Bank of France to cut jobs at banknote facilities
FRANCE - The Bank of France yesterday informed unions of 494 job cuts by 2005 in its banknote production units. The plan, aimed at bringing down the cost of banknote production to improve competitiveness, mainly affects facilities at Chamalieres and Vic…
London sees change in foreign central bank rep's
UK - The last year has seen big changes in the representation of foreign central bank's in London with nine new faces.
Comparing measures of core inflation
RESEARCH - Todd E. Clark, of the Federal Reserve Bank of Kansas City has published an article in the Bank's Second Quarter 2001 Economic Review. The research compares five different measures of core CPI inflation.
Euro 2002 Information Campaign
SPEECH - Wim Duisenberg, has delivered a speech at a conference hosted by the Central Bank of Ireland, in Dublin on 20 June at the Bank of Ireland's Arts Centre.
RBI introduces new scambusting agency
INDIA - The Reserve Bank of India is setting up an agency to specifically investigate scams in thefinancial sector. An RBI-constituted panel, headed by legal advisor to the central bank NL Mitra, at its last meeting held on 23 June in Mumbai gave the…
IMF seeks tougher Russian monetary policy
RUSSIA - The International Monetary Fund has called on Russia at the end of a five-day mission to tighten monetary policy to check inflation and keep closely to spending plans in its current budget.
ECB reluctant to promote euro's global role
GREECE - European Central Bank executive board member Tommaso Padoa-Schioppa said on 25 June that the ECB is unlikely to actively promote the international role of the single currency.
Blair meets Prodi to discuss euro
ARTICLE - Tony Blair, the UK Prime Minister, held an hour-long breakfast meeting on 25 June to discuss the single currency with Romano Prodi, president of the European Commission.
World Bank internet success
US - Nearly two thousand people have logged on to the World Bank's online conference on development economics.
World Bank conference goes online
US - The World Bank is to host its annual conference on development economics on the internet on 25 June.
Long hols for Bank of England staff
UK - Following the introduction of a new terms and conditions package, staff at the Bank of England can now enjoy up to eight weeks annual leave. Staff at the Bank have always enjoyed generous benefits packages, however the many different schemes…
Bahrain grants licences to two financial houses
BAHRAIN - Bahrain has granted licences to two financial houses to operate from the Gulf Arab state, the Bahrain Monetary Agency (BMA), the island state's central bank, said on 25 June.