Central Banks
Turkmenistan cbank funds Boeing aircraft purchase
Turkmenistan's central bank said on Feb. 2 it helped finance the purchase of a Boeing 757-200 aircraft for Turkmenistan Airlines valued at $70 million. Turkmenistan Airlines borrowed $48.3 million from the central bank to buy the new plane. The airliner…
Yugoslav central bank propose price liberalization
Yugoslav National Bank Governor Mladjan Dinkic said on Feb. 2, 2001, that the bank's team of experts had on Jan. 30 sent to the Serbian government a proposal for the planned liberalization of prices spread over the next three years to prevent "future…
IMF says ECB right to wait for more info on rates
The European Central Bank should wait for more information about core inflation in the euro zone and the growth outlook for the U.S. economy before cutting interest rates, the International Monetary Fund said. In a statement on euro-zone economic…
'Gatekeepers of Growth' by Sylvia Maxfield
With so many books on central banking in OECD countries, it makes a refreshing change to read a book that concerns itself with developing countries. Here, Sylvia Maxfield writes about the, causes and consequences of the independence of central banks in…
'European Central Bank' by Georg Schweiger
As befits a man with his background, Schweiger's book primarily deals with the legal and institutional framework of the European Central Bank (ECB). Although the jacket claims the book focuses on the personalities behind the bank, this is better left to…
'The Greenspan Effect' by Sicilia and Cruikshank
If Alan Greenspan is God, then this is the biblical exegesis. The latest book to delve into the Greenspan phenomenon takes the great man's words and then picks them apart in an exhaustive search for meaning. Sicilia and Cruikshank, apparently without a…
International Bank Insolvencies: cbank perspective
Problems in the banking sector of some economies, including bank insolvencies, pose numerous challenges to policy makers, lawyers and regulators among others. Central bank lawyers are the target audience for this book. It is co-edited by Gregor Heinrich…
Financial Globalization and Democracy in Emerg Mkt
In this book Leslie Elliott Armijo brings together a collection of original papers on the subject of the impact of global financial flows on political developments in borrowing countries. The majority of them were presented at a 1995 conference on…
Lack of confidence shouldn't slow eurozone-Vanhala
Finland's central bank governor said on Feb. 1 he hoped "reasons of confidence and psychology" would not slow euro zone growth more than real economic conditions justify. Matti Vanhala was speaking after the European Central Bank's governing council, of…
New ECB website on introduction of euro notes, coin
The European Central Bank on Feb. 1, 2001, unveiled a new website as part of its campaign to prepare the public in the 12 euro-zone states for the introduction of notes and coins from January 1, 2002.The website, with the address www.euro.ecb.int, has…
ECB Duisenberg says Irish budget out of line
European Central Bank President Wim Duisenberg on Feb. 1 said he shared the European Commission's critical assessment of Ireland's expansionary budgetary policies. The Commission has asked EU finance ministers to issue an unprecedented formal reprimand…
CNB law amendment no obstacle to EU - Zeman
Czech Premier Milos Zeman does not believe that the amendment to the law on the central bank which says that the CNB in fixing its inflation target has to consult the government and introduces control of CNB's operating budget could pose an obstacle to…
CNB start paying interest on min reserves July 12
The Czech National Bank will start paying interest equal to the two-week repo rate, currently standing at 5.25 pct, on banks' minimum reserves as of July 12, 2001, Pavel Zubek of the CNB's press department told CTK news agency on Feb 1.
Armenian cbank issues celebratory banknotes
Central bank of Armenia plans to put into circulation jubilee banknotes with denomination of 50,000 AMD (more than $90), said Gevorg Tumanyan, the Head of CBA Department on emission transactions and monetary reserves. The new banknotes are to celebrate…
Kuwait cuts rate 0.5 point for 2nd time in a month
Kuwait's Central Bank on Feb 1, 2001, announced a 0.5 point cut in the discount rate for the second time in less than a month, taking it down to 6.25 percent. The bank, which announced the move in a statement to the official Kuwait News Agency (KUNA),…
Turkish cbank meets asset targets under IMF plan
The Central Bank of Turkey on Feb 1 said it has comfortably achieved the net domestic assets target (NDA), and net international reserve levels it committed to under its anti-inflation program agreed with the International Monetary Fund. The bank said in…
Ukraine c.bank reserves rise to three-year high
Ukraine's central bank said on Feb 1 its gross hard currency reserves rose to a three-year high of $1.718 billion on January 31, 2001, from $1.617 billion on December 22, 2001. Serhiy Yaremenko, head of the central bank currency regulation department,…
Taiwan cuts interest rates to record lows
Taiwan's central bank made a surprise cut in its two key interest rates by a quarter of a point on Feb 1, bringing them to record lows to boost the island's flagging economy. It cut the discount rate to 4.375 percent and the accommodation with collateral…
Philippine central bank cuts interest rates
The Central Bank of the Philippines has decided to slash its key rates by another 0.5 percentage points in a bid to maintain the differential between Philippine and foreign spreads and to prop up the economy. The move will bring down the central bank's…
West Africa welcomes common monetary institute
The opening of the West African Monetary Institute (WAMI) is an onset of a credibility building process to create an acceptable common currency for member countries, local media reported on Feb. 1, 2001.
Goodhart: George should control inflation forecast
The governor of the Bank of England should take full control of the Inflation Report - the central bank's flagship economic forecast - to avoid confusion arising from the disparate input from the nine members of the Monetary Policy Committee, London…