Central Banks
W. African Eco and Mon. Union summit ends in Mali
The fifth summit meeting of the West African Economic and Monetary Union [UEMOA] ended in Bamako this afternoon.
BoE article on oversight of payment systems
The Bank of England's paper on the oversight of payment systems is published in its latest Financial Stability Review.
Complete glossary of payment systems terminology
The Committee on Payment and Settlement Systems at the Bank for International Settlements has just published a comprehensive glossary of payment system terminology as a reference document for the standard terms used in connection with payment and…
ECB keeps M3 benchmark unchanged
The European Central Bank has decided to leave its yardstick for euro area money supply growth unchanged. After the governing council meeting today, the ECB said that the evidence continues to support the assumptions underlying the derivation of the…
New EU treaty paves way for ECB voting change
The European Union's Nice treaty calls for a review of how votes are taken on the ECB's governing council, but does not provide for amending its composition, a draft text obtained by journalists on Wednesday said.
Interview with Nancy Stokey - The Region
Nancy Stokey and her University of Chicago colleague and partner, Nobel Laureate Robert E. Lucas Jr., chose to spend a semester's sabbatical at the Minneapolis Fed this autumn. Arthur Rolnick, the Minneapolis Fed's director of Research, took this…
Back From The Brink: The Greenspan Years
Journalist Steven Beckner, who has covered monetary policy since the beginning of the Greenspan years, has written a useful book that goes beyond the regular elliptical utterances of the Fed chairman. Reviewed by Kevin L. Kliesen, Economist, Federal…
Venezuela to slow bolivar depreciation in 2001
Venezuela's central bank will announce a slower depreciation rate of the bolivar currency and possibly a new central parity rate within the next two weeks, senior bank officials said Thursday.
Zimbabwe: Interest rates drop as inflation falls
This article is from Zimbabwe's Financial Gazette said that a surprise fall in Zimbabwe's inflation rate should be viewed a temporary. The subsequent reductions in interest rates by the central bank are therefore short-term, says the article.
Spanish inflation sticks at 5-yr high in November
Spanish inflation rose to 4.1% annually in November, stuck around a near five-year high amid fears of a price-wage spiral and a civil sector protest over loss of purchasing power.
S. Korea to end certain exchange controls in 2001
The South Korean government will end restrictions on the amount of foreign currency travellers can take out next year, but those who carry more than US$50,000 should first secure Bank of Korea approval, the finance and economy ministry said Thursday.
Economists agree-Bush should befriend Greenspan
This article by Jacob M. Schlesinger from the Wall Street Journal says that the new US president, George W Bush, should learn to cultivating the US Federal Reserve chairman Alan Greenspan.
Bank of France predicts robust growth
Despite growing signs of a slowdown in the U.S. and sputtering growth in Germany, the French economy remains remarkably robust, economists say.
What the BoE can learn from the Federal Reserve
In a "Letter to the Editor" in the Financial Times, Blair Baker says what the Bank of England can learn from the Federal Reserve, following Don Kohn's report on the problems with the BoE inflation forecast.
SNB must guard against currency appreciation-OECD
The monetary policy of the Swiss National Bank is currently appropriate for domestic economic conditions, but the SNB must monitor the effect of European Central Bank rate policy on exchange rates and guard against too sharp a rise in the Swiss franc…
ECB Vanhala says Eurozone inflation close to peak
European Central Bank governing council member Matti Vanhala on Thursday reiterated that the euro zone was close to its inflation peak but said the risks to price stability were still "upwards".
Uganda cenbank says to tighten monetary policy
Uganda's central bank on Thursday announced a rise in commercial bank reserve requirements from next week in a bid to stem inflationary pressures from the weakening shilling.
Duisenberg comments on Greek EMU entry
European Central Bank president Wim Duisenberg made the following comments at a news conference on Thursday concerning Greece's entry into the eurozone: "It is indeed an historic moment and a very satisfying and gratifying moment."
Dutch ctrl bk sees 2001 CPI 4.2%, a 17-year high
Dutch consumer prices are set to grow 4.2% in 2001, the highest growth level since 1983, the Dutch Central Bank said Wednesday in its quarterly report.
Norges Bank leaves key lending rates unchanged
Norges Bank, the Norwegian central bank, left its key lending rates unchanged as expected at Wednesday's regular monetary policy meeting and maintained a neutral stance regarding future decisions.
BoT to ease regulations on e-money settlement
The Bank of Thailand said Wednesday it plans to ease restrictions on interbank electronic money transactions via its Bahtnet settlement system.
Bank of Sudan lowers reserves ratio
The governor of the Sudanese central bank, Mr Saber Mohammed Al-Mahdi, said that the Bank had decided to lower the cash reserves ratio in the local commercial banks from 15% to 10%.
IMF says zloty interventions OK to help reserves
The International Monetary Fund on Wednesday said Poland's central bank could consider foreign exchange intervention to maintain the ratio of foreign reserves to hard currency liabilities.
Mercosur sets macroeconomic convergence targets
The Southern Cone Common Market, or Mercosur, on Wednesday announced macroeconomic convergence targets, including fiscal and inflationary goals, top officials said.