Central Banks
People's Bank plans customer protection scheme
CHINA - China plans to set up a deposit insurance system to protect bank customers and reduce increasing risks in the banking sector. Announcing the plan, People's Bank of China (PBOC) Vice-Governor Wu Xialiang, said establishing such a system was an…
ECB interest rate decision - no change
EUROPE - The European Central Bank held interest rates steady on 23 May, as expected, despite pessimism about the euro zone's economic performance and prospects.
Low inflation may erode bank's credibility
SPEECH - The Bank of England's credibility could be at risk if it continues to undershoot its 2.5 per cent inflation target for more than another two years, according to a member of the bank's Monetary Policy Committee.
OECD praises Irish economy
IRELAND - The OECD has praised the Irish government's management of its economy and played down the prospect of it overheating.
Possible successors to Duisenberg listed
FRANCE - French Finance Minister Laurent Fabius, BNP Paribas Chairman Michel Pebereau, European Union Trade Commissioner Pascal Lamy and European Central Bank board member Tommaso Padoa-Schioppa are possible successors to ECB President Wim Duisenberg…
Euro-enthusiast gets leading CBI job
UK - The Confederation of British Industry (CBI) has appointed a leading euro-enthusiast to one of its principal policy-making committees.
The outlook for the economy
SPEECH - President Santomero of the Federal Reserve Bank of Philadelphia on the outlook for the US economy. He was speaking on 22 May at the County Chamber of Commerce, Philadelphia.
Backstrom - Riksbank must 'wait and see' on rates
SWEDEN - The governor of Sweden's central bank said on 18 May the Riksbank would adopt a "wait and see" policy on rates because inflation risks were hard to assess.
BOJ maintains gloomy overall view of economy
TOKYO - The Bank of Japan maintained its gloomy overall view on business conditions on 21 May, saying weaker exports were denting production and keeping the economy stuck in an adjustment phase.
Fabius backs ECB independence on monetary policy
FRANCE - The European Central Bank must and does set monetary policy independently, French Finance Minister Laurent Fabius said on 20 May, adding that he believed the bank was not indifferent to the downturn in global economic growth.
Monthly economic report from Bank of Japan
Japan - The Bank of Japan published its monthly monetary policy report of recent economic and financial developments on 21 May.
Bank Indonesia will keep stable monetary policy
INDONESIA - Bank Indonesia said on 15 May that it will consistently maintain a prudent monetary policy and that high inflationary pressures are likely to be a great challenge until the end of the year.
ECB monthly bulletin May 2001
EUROPE - The European Central Bank has published its monthly bulletin for May 2001. It considers economic developments in the euro area, framework and tools of monetary analysis, and the new capital adequacy regime - the ECB perspective.
UK General Election - Conservative pledges
UK - The UK Conservative party have published their manifesto. In it they spell out what they would do if elected to government in the general election to be held on 7 June. Michael Portillo,the shadow chancellor of the exchequer, sets out their policies.
UK General Election - Labour pledges
UK - The UK Labour party published its election manifesto on 15 May. They review their changes made to the Bank of England and describe their policy on the single european currency, the euro.
Common currency change could cause continent chaos
EUROPE - The manner of the euro's introduction on 1 January 2002 will shape perceptions of it across europe. Many fear that the replacement of national currencies with euro notes and coins is going to be costly and chaotic.
State Duma passes IMF package on its third reading
RUSSIA - The Russian State Duma has passed upon its third and final reading a package of bills initiated by the International Monetary Fund to restructure the Russian banking system.
Duisenberg doing very good job - ECB's Mersch
LUXEMBOURG - European Central Bank council member Yves Mersch said that ECB President Wim Duisenberg's performance at the bank's helm had been 'very good' and that talk of his retirement was premature.
Central bank cuts rates in Taiwan
TAIPEI - Taiwan's short-term money rates ended lower on 18 May after the central bank aggressively cut interest rates yesterday, 17 May, and the banking system's daily reserves showed a surplus from the previous session.
Fed resisted surprise cut in rates
US - The Federal Reserve's committee of policymakers considered a surprise cut on 11 April but held off for fear of upsetting volatile stock markets.
Readiness for euro may be falling
EUROPE - Fewer European companies say they are ready for the introduction of euro notes and coins now than a year ago, according to a survey of big businesses in the euro-zone.
Putting euro banknotes and coins into circulation
Speech - Eugenio Domingo Solans, Member of the Governing Council and the Executive Board of the European Central Bank delivered a speech at the Euro 2002 Information Campaign conference hosted by the Banco de Portugal on 15 May.