News
ECB information on the counterfeiting of the euro
In the first half of 2004, a total of 307,223 counterfeit euro banknotes were withdrawn from circulation, the European Central Bank (ECB) said on 22 July.
Bank of Russia to introduce new banknotes
The Russian central bank plans to introduce modified banknotes with the denominations of 10, 50, 100, 500 and 1,000 rubles from 16 August, first deputy chairman Arnold Voilukov said at a press conference.
Slovak central bank opens tender for euro designs
The Slovak National Bank (NBS) has called for proposals for the symbols to be featured on the euro coins to be used in Slovakia once the country adopts the single European currency.
Bank of England's furniture goes under the hammer
The Bank of England raised £266,605 on Wednesday 21 july by auctioning antique furniture after the 310-year-old institution adopted an open-plan layout at its London headquarters.
Argentina raises 2004 economic growth prediction
The Argentinian central bank on Thursday 22 July revised its forecast on the country's GDP growth rate for 2004 from 6 to 8 percent. The bank also predicted that the inflation rate will stand at 6.7 percent and the unemployment rate will drop from 14.5…
Singapore's MAS likely to get new chief soon
Speculation is growing that the handover on 12 August of leadership in Singapore will lead to a change at the helm of the de facto central bank, the Monetary Authority of Singapore. Observers are split on two possible candidates to replace current…
ECB's Weber: No inflation pressure in medium-term
The European Central Bank "does not currently see inflationary pressures in the medium term" in the 12-country eurozone, Bundesbank President Axel Weber said in a newspaper interview published on Thursday 22 July.
ECB's Issing sees stronger eurozone growth
European Central Bank chief economist Otmar Issing said he expects next year's growth in the euro area will gain further strength and the inflation rate would be below 2pc.
Bank of Central Africa to use CMA payment system
The Bank of Central Africa is implementing a real-time gross settlement (RTGS) platform supplied by Stockholm-based CMA Small Systems.
Bosnia & Serb cbs sign memorandum of understanding
National Bank of Serbia (NBS) Governor Radovan Jelasic on Wednesday 21 July in Banja Luka signed a memorandum of understanding and cooperation in the field of regulation of banking operations with Central Bank of Bosnia and Herzegovina CBBH) Governor…
IMF chief Rato details Africa visit
International Monetary Fund managing director Rodrigo Rato will visit three African countries in August for talks on poverty reduction and other challenges on the continent.
Philadelphia Fed Business Outlook Survey, Jul 2004
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, July 2004, expansion in the region's manufacturing sector continues. This month the manufacturers were asked about increases in wages made to attract or retain workers.
BoE united on decision to hold rates, 7/8 July
Minutes for the Bank of England's 7 and 8 July Monetary Policy Committee meeting released on Wednesday 21 July showed the MPC voted unanimously to keep interest rates steady at 4.5 per cent but indicated that borrowing costs would have to rise again in…
ECB Memoranda of Understanding
The ECB issued a news release on Wednesday 21 July announcing the adherence of the central banks and banking supervisors of the New Member States to the Memoranda of Understanding on High Level Principles of Co-operation in Crisis Management Situations…
Russian cb introduces new currency regulations
Several rules concerning currency regulation will enter into force in Russia on 1 August, the department of external and public relations of the central bank reported.
Thailand holds interest rates unchanged
The Bank of Thailand maintained its key interest rate at 1.25% on Wednesday 21 July, but said it will consider raising rates in the face of inflationary pressures.
Japan revises outlook for economic growth up
The Japanese government on Wednesday revised its forecast for economic growth for the fiscal year through March 2005 upward to 3.5 percent.
Bank of Canada keeps interest rates unchanged
The Bank of Canada announced on Tuesday 20 July that it is maintaining its target for the overnight rate at 2 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 2 1/4 per cent, the bank said in a press release.
Minehan sees US inflation rise as temporary
Federal Reserve Bank of Boston president Cathy Minehan said on Monday 19 July that disappointing economic data in June was likely to be temporary and the recovery is now self-sustaining.
Serbian central bank governor to visit Sarajevo
Serbian National Bank governor Radovan Jelasic is scheduled to visit the Bosnia-Hercegovina Central Bank on Wednesday, 21 July.
Measured rate rises appropriate says Fed's Stern
Minneapolis Fed President Gary Stern said on Monday 19 July that the US economy is on track for solid growth and the Federal Reserve still intends to raise interest rates at a moderate pace.
EU Commission says EMU has brought stability
The European Commission has said in a report that the first five years of economic and monetary union have resulted in economic stability, but not sustained growth.
Bundesbank reports German economy picking up
Growth of the German economy, the biggest in the euro zone, is likely to have outpaced the first-quarter rate of 0.4% in the second quarter of the current year, the Bundesbank said on Monday 19 July.
OECD urges Japan to keep up regulatory reform
Regulatory reform is already well under way in Japan but should be continued and strengthened if Japan is to reap all the opportunities of its current recovery, according to a new OECD report.