Central Banks
East Timor - Central bank precursor inaugurated
The East Timor Central Payments Office, expected to become the territory's central bank, was officially inaugurated Feb 28 by Sergio Vieira de Mello, the chief of the UN Transitional Administration in East Timor.
Card-based payment systems in US and Japan-IMES
Ronald J. Mann, a visiting scholar at the Bank of Japan, has written a paper entitled "Card-based payment systems in the United States and Japan". He explains why credit and debit cards have so far proved unsuccessful in Japan compared to the US, and…
Technological Innovation and Banking Industry-BoJ
The Institute for Monetary and Economic Studies at the Bank of Japan has published a final report based on a forum the bank held in Dec 1997 on "Technological Innovation and Banking Industry/Monetary Policy". The report looks at the development of…
Selected IMF working papers published
The IMF has recently published a number of working papers on subjects ranging from inflation targeting, central bank independence, to endogenous growth. Links to the papers are given.
Oxford Review of Economic Policy, Vol. 16, No. 4
The following is the contents including abstracts of the latest issue of the Oxford Review of Economic Policy, Volume 16, Issue 4: Winter 2000. Authors include Stanford University's John Taylor and Princeton's Paul Krugman.
Turk cbank calms mkts, govt pledges action
Turkey's central bank stabilised markets on Feb 27, 2001 and the government pledged to stand firm and fill vital economic posts swiftly in its fight to rebuild its shattered economic policy.
Bank Indonesia meets Singapore MAS, banks
Bank Indonesia Deputy Governor Miranda Gultom met top bankers in Singapore on Feb 27, 2001 to discuss Jakarta's recent curbs on offshore trading of the rupiah.
Gold lease rates tighten further, spot adds gains
Gold was reversing a recent downward trend in Europe as it rose to fix on Feb 27, 2001 at the highest level since Jan 8, 2001 building on short-covering gains made overnight with more advances on the cards, traders said.
E-banking conference to be held in Philippines
Philippine government officials, bankers, businessmen, academics, and other observers of the Philippine economy will tackle the challenges and opportunities of electronic banking at a conference being held by the Philippines central bank.
IMF sees framework for 'smooth' Lithuanian repeg
The International Monetary Fund (IMF) said on Feb 27, 2001 Lithuania had created conditions for a smooth repeg of the litas currency to the euro from the dollar next year and saw prospects for improved economic growth in 2001.
China to launch OTC debt trading this year - paper
China will launch a trial of over-the-counter (OTC) debt trading at state banks in the second half of this year, a senior central bank official was quoted on Feb 27 as saying.
Clearstream to refute Secret-Acts charges
Luxembourg's central bank said Feb 26, 2001 that clearing and settlement group Clearstream has given assurances to the authorities here it will "take steps to refute allegations" that it set up thousands of secret accounts for its clients, including…
Turks count cost of crisis, austerity looms
In the first official price hike on Feb 26 sparked by last week's shock 36 percent lira devaluation against the dollar, prices rose 10 percent on state monopoly Tekel goods including cigarettes, salt and Turks' favourite aniseed-flavoured alcoholic drink…
Fed executive picked for position with US Treasury
In a widely expected move, Peter Fisher, the executive vice president in charge of markets for the Federal Reserve Bank of New York, has been appointed as the Domestic Finance Official at the US Treasury.
ECB says output of euro banknotes is on schedule
The European Central Bank insisted that production of euro banknotes is on schedule, rejecting a newspaper report that said printing problems could leave European nations short for the introduction of the notes on Jan. 1, 2002.
Singapore MAS to brief on mon policy twice a year
The Monetary Authority of Singapore said on Feb 26, 2001 it will hold a media briefing twice a year on its monetary policy in an effort to raise transparency.
Pakistan cuts GDP forecast to below four percent
Pakistan's central bank on Feb 26, 2001 slashed its economic growth target for the second time in four months, because of slower growth in agriculture, high oil prices and the falling rupee.
Polish rate cuts hinge on meeting '03 inflation
Polish policy-makers will not cut interest rates until confident there is no danger to the medium-term inflation target, central bank chief Leszek Balcerowicz said in a newspaper interview published on Feb 26, 2001.
Indonesia, IMF agree on c.bank independence-Ramli
Indonesia's chief economics minister Rizal Ramli said on Feb 26, 2001 he had reached agreement with the International Monetary Fund on the need to maintain the central bank's independence but stopped short of saying a long running deadlock had been…
Romania must step up inflation fight-c. bank chief
Romania has to step up its battle against inflation but needs to do so gradually to avoid shocks from a sudden reduction, Mugur Isarescu, the governor of the central bank (BNR), was quoted as saying on Feb 26, 2001.
Swedish inflation risks receding-Riksbank
Sweden's central bank, the Riksbank, said on Feb 26, 2001 that inflation risks appeared to have diminished since it raised interest rates in December 2000, although the outcome of the current wage round could affect the picture.
Bank of Israel cuts lending rate by 0.2 pct point
The Bank of Israel said on Feb 26, 2001 it was lowering its key lending rate by 0.2 percentage points to 7.5 percent, its eighth straight monthly reduction and the 14th in the past 16 months.