Central Banks
Manila c bank says no need to print more money
PHILIPPINES - There was no danger that monetary authorities would be forced to print more money to pay for government debts, Philippine central bank governor Rafael Buenaventura said on 31 July.
One-off costs of euro conversion estimated
ARTICLE - Research published today by Bannock Consulting shows that the total cost to UK business of converting to the euro are in the region of £10.3bn. Adding in the British Bankers Association estimate of £1 bn for the banking sector and Bannock…
Bank of Estonia - Annual Report 2000
ANNUAL REPORT - The Bank of Estonia has published its Annual Report for 2000.
Central Bank of Aruba - Annual Report 2000
ANNUAL REPORT - The Central Bank of Aruba has published its Annual Report 2000.
World Bank names two new country directors
US - The World Bank yesterday, 30 July, named two new country directors for Thailand and the Philippines.
Croatian payment settlement institute to be axed
CROATIA - The Croatian Payment Settlement Institute (ZAP) is to be abolished. Its functions will be divided between the central bank and commercial banks.
World Bank hires senior adviser to president
US - The World Bank has appointed Yukio Yoshimura as senior advisor to the president of the World Bank Group, James Wolfensohn.
Iran's central bank governor returned to office
IRAN - Iranian President Mohammad Khatami is scheduled to announce his second cabinet next week. Unofficial reports say that Khatami's next cabinet would not have serious changes in its political makeup, despite the change in characters.
Markets now more resistant to contagion - BIS head
INTERVIEW - Painstaking efforts to strengthen the international financial system are beginning to pay off with global markets resisting contagion from worries over Argentina's debt, according to the general manager of the Bank for International…
Credit card growth blamed for spiralling debt
AUSTRALIA - The proliferation of credit cards has contributed to the bad management of personal debt, according to NRMA Building Society research.
Zimbabwe c bank says support plan aids gold mines
ZIMBABWE - Zimbabwe's Reserve Bank said today, 31 July, a support programme for gold producers introduced earlier this year had helped boost production in a sector where high costs had threatened several mines with collapse.
Emerging markets - round up the usual suspects
CENTRALBANKNET'S SPECIAL REPORT - A little local difficulty or the beginning of a global shake-down? First Turkey, then Argentina - next stop Brazil? Or south-east Asia? The omens are not good as emerging markets from Poland to Pretoria feel the effect…
Strains in the eurozone
ARTICLE - The Financial Times in London published an article on 30 July by Christopher Taylor, a visiting fellow at the National Institute of Economic and Social research. He was chief adviser in the European division of the Bank of England.
Central Europe govt's on collision with c-banks
CZECH REPUBLIC - With elections due in all three of central Europe's leading economies in the next year, governments seeking to raise public sector spending risk bruising rows with their central banks.
Bulgaria c-bank fx reserves down on Brady payment
BULGARIA - The foreign exchange assets of the Bulgarian National Bank's (BNB) Issue Department fell by a net 167.3 million euros ($146.3 million) after Bulgaria paid coupon on its Brady bonds, a central bank official said on 30 July.
Brazil easily beats IMF primary surplus goal in H1
BRAZIL - Brazil posted a primary budget surplus of 30.42 billion reals ($12.47 billion) in the first half of the year, sharply beating an IMF-agreed target for the surplus with 8.9 billion reals to spare, the Central Bank said today, 30 July.
CNB will publish meeting records after six years
CZECH REPUBLIC - The Czech National Bank (CNB) has decided to publish the records of the bank board meetings. The central bank reacts to the interest and specific needs of economic analysts, economics students and historians of the Czech economy or of…
Paper - Reserve Bank of Australia 2001 Conference
RESEARCH - A paper titled 'Setting Monetary Policy in East Asia: Goals, Developments and Institutions' was presented at the RBA's 2001 conference, Future Directions for Monetary Policies in East Asia.
Meyer Testimony - Federal deposit insurance reform
SPEECH - Federal reserve Board Governor Laurence H. Meyer testified on 26 July before the Subcommittee on Financial Institutions and Consumer Credit of the Committee on Financial Services, U.S. House of Representatives.
Paper - Reserve Bank of Australia 2001 Conference
RESEARCH - A paper titled 'Three Perspectives on an Australasian Monetary Union' was presented at the RBA's 2001 conference, Future Directions for Monetary Policies in East Asia.
Paper - Reserve Bank of Australia 2001 Conference
RESEARCH - A paper titled 'The Case for Inflation Targeting in East Asian Countries' was presented at the RBA's 2001 conference, Future Directions for Monetary Policies in East Asia.
Blair and Brown set euro vote timetable
UK - Tony Blair and Gordon Brown have drawn up a timetable for a euro referendum and are preparing to make a judgment, probably next year, about whether to call one, reports the Financial Times in London, 27 June.
Five months to E-day and euro use still limited
EUROPE - Five months before the introduction of euro notes and coins, the use of the single currency remains limited in almost every country in the 12-nation eurozone, the European Commission warned yesterday, 27 July.
Peru's new finance minister sees changes at c bank
PERU - Incoming Finance Minister Pedro Pablo Kuczynski said on 26 July that former central bank chief Richard Webb will likely become the new president of the Central Reserve Bank of Peru.