News
Israel's Klein: Monetary policy achieved goals
Speaking at a seminar on financial cooperation among the Mediterranean nations on Thursday 15 January, Bank of Israel governor David Klein defended the Israeli central bank's monetary policy in recent years, saying it had achieved its goals.
Saddam notes cease to be legal tender
Bank notes printed with the face of Saddam Hussein have ceased to be legal tender in Iraq, removing another memory of the former dictator.
Fed's Olson expects solid growth from US economy
Federal Reserve Board Governor Mark Olson said on Tuesday 13 January that first-quarter U.S. growth looked set to match the expected solid pace at the end of last year, but there was still no sign of inflation.
Fed's Bernanke: Monetary policy can be 'patient'
Ben Bernanke reiterated on Wednesday 14 January that, with interest rates at 45-year lows, monetary policy could remain "patient" particularly in the absence of inflationary pressures in the US.
Committee reports continued progress on Basel II
The Basel Committee on Banking Supervision reported on Thursday 15 January that it continues to make progress following the agenda established in Madrid last October.
Indonesian police to question Sabirin
Police in Indonesia plan to question former central bank governor Syahril Sabirin next week in connection with a corruption case.
Tunisia's Daouas 'called to other functions'
The governor of Tunisia's central bank, Mohamed Daouas, was dismissed on Wednesday 14 January, the official news agency reported.
Changes to the Eurosystem's operational framework
A series of changes to the Eurosystem's operational framework for monetary policy will be implemented in the first quarter of 2004.
ECB raises refinancing operations allotment amount
The ECB's Governing Council has decided to increase the allotment amount for each of the longer-term refinancing operations to be conducted in the year 2004 from EUR 15 billion to EUR 25 billion.
Indonesia to get anti money-laundering committee
The Indonesian government has set up a national committee to coordinate strategy in combating money laundering following the passage of the new Money Laundering Law last year.
Zimbabwe c bank ends 1st for ex auction
Zimbabwe's central bank has completed its first auctions of foreign currency in a new drive to clean up the financial sector and bring the black market to an end.
BOJ bought Y1.9100 trn shares from banks to 10 Jan
The Bank of Japan said on Wednesday it had bought a total of 1.9100 trillion yen ($17.98 billion) of shares held by Japanese banks by January 10 under its programme aimed at reducing the banks' exposure to stock market volatility.
Cleveland Fed president optimistic on economy
Sandra J. Pianalto, president of the Cleveland Fed, said Tuesday that jobs will be created with innovations in technology and there are many positive signs in the US economy.
Bank of France's Noyer cautions on euro volatility
Christian Noyer the new governor of the Bank of France warned on Wednesday that "excess" currency volatility was not good for economic growth, and that European monetary authorities needed to promote stability.
IMF reports no exact cause to rand collapse
IMF economists have concluded that no clear answer existed for the rapid depreciation of the South African rand between September and December of 2001.
Greenspan to testify on U.S. economy, 11 Feb
Fed Chairman Alan Greenspan will testify on the Federal Reserve's semiannual report on monetary policy to the U.S. House Financial Services Committee on 11 February, the panel said on Wednesday.
Federal Reserve Board launches Fiscal Impact Tool
The Federal Reserve Board on Monday 12 January announced the launch of a new informational resource designed to help community economic developers evaluate development proposals.
National Bank of Azerbaijan awards audit contract
The National Bank of Azerbaijan has declared Deloitte & Touche the winner in a tender to appoint an auditor for the bank for 2003.
Political noise slows growth- Peru c bank
Peru's central bank president, Javier Silva Ruete, said that the political turbulence shaking the government of Peruvian President Alejandro Toledo is hurting economic growth and could scare off future investment.
Adobe Systems to use anti-counterfeit measures
Adobe Systems Inc. has acknowledged that it has added technology to its graphics software at the request of government regulators and international bankers to prevent copies of bank notes being made.
IMF review of Argentina deal complete- gov't
The Argentine government has said that the IMF has completed the delayed first review of Argentina's $12.55 billion loan accord.
Bank of England faces criticism in BCCI case
The billion-pound law suit against the Bank of England over its part in the world's biggest banking fraud began on Tuesday 13 January with criticism of the 300-year-old central bank.
IMF on Argentina: 'progress has been made'
IMF Managing Director Horst Kohler said on 9 January that he is to recommend to the Executive Board the Letter of Intent of the authorities for the First Review of the Stand-By Arrangement with Argentina.
EU to take court action over budget rules
The European Union's head office decided on Tuesday 13 January to take finance ministers to court for letting Germany and France off the hook for violating euro budget rules. An EU spokesman said the move to vary the rules "was not the appropriate…