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Central Banks

China FX reserves rising to $200bn-BusinessWeek

CHINA - China's foreign reserves will rise steadily, enabling it to hold its yuan peg to the dollar in the face of the weakening yen, US-based BusinessWeek magazine on Apr 3, 2001 quoted central bank Governor Dai Xianglong as saying.

SNB profits boosted by gold revaluation

SWITZERLAND - In its 2000 annual report released on Apr 3, 2001, the Swiss National Bank said that net profit for 2000 had jumped to 28.2 billion Swiss francs ($16.3 billion), boosted by a one-off 27.7 billion franc revaluation of gold holdings.

Korea's KFTC-BoK assistant governor new president

SOUTH KOREA - The Korea Financial Telecommunications and Clearings Institute (KFTC) selected Yoon Gye-sub, the assistant governor of the Bank of Korea (BOK), as its new director at a general meeting held on Apr 4, 2001.

Australia cuts interest rates by 0.5%

AUSTRALIA - Australia's central bank on Apr 4, 2001 cut interest rates by half percentage point to boost consumer confidence and limit the impact of a global slowdown. It was the third reduction at board meetings in a row.

Risk measurement and systemic risk conference

CENTRAL BANK CONFERENCE - On March 7-8, 2002, the Committee on the Global Financial System (CGFS), in co-operation with the Bank of Japan, the Board of Governors of the Federal Reserve System and the European Central Bank, will host, under the auspices…

SNB's Bruno Gehrig speech on the euro

SPEECH - Bruno Gehrig, vice-chairman of the Swiss National Bank, gave a speech on Mar 27, 2001 in front of the Swiss Chamber of Industry and Commerce of the Southern Upper-Rhine Region about the euro two years on and its impact on the Swiss economy and…

ECB MoU on payment systems and supervision

CENTRAL BANK REPORT - The European Central Bank issued a Memorandum of Understanding (MoU) on Apr 2, 2001 describing the specific arrangements for co-operation and information sharing between EU payment system overseers and banking supervisors in…

New payment systems need cbank monitoring-ECB

SPEECH - New cross-border payments initiatives need to be closely monitored by central banks to ensure they are as safe and solid as dealing direct with central banks, a European Central Bank board member said on Apr 2, 2001.

GSIC cuts investments in tech companies

SINGAPORE - The Government of Singapore Investment Corp has reduced its interests in Malaysia's technology sector in the face of sluggish US demand for the country's electronics products.

South Korea's FX reserves dip to $94.44bn

SOUTH KOREA - The South Korea's foreign exchange reserves dipped by $890 million from a month earlier to $94.44 billion as of late Mar 2001, falling for the fourth straight month, the Bank of Korea said Apr 2.

Central bank independence in Poland from 1924-26

ARTICLE - In an article in Public Budgeting & Finance, Gail Makinen from the Congress Library looks at the success of Poland's 1924-26 stabilisation plan. She concludes that a balanced budget may be more important to achieving price stability than…

Credibility of Colombia's exchange rate target

ARTICLE - In a fairly technical article in the Quarterly Review of Economics and Finance, Arturo Jose Galindo from the Inter-American Development Bank analyses the credibility of Colombia's exchange rate target zone. His results suggest that there is…

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