News
G10 meeting on banking supervision
Meeting of G10 central bank governors and heads of banking supervision - The G10 central bank governors and heads of banking supervision met on 9 March in Basel to discuss issues related to the Basel Committee on Banking Supervision.
ECB Press Conference, 6 March
PRESS CONFERENCE - At the press conference which followed the ECB's decision to reduce interest rates Thursday Wim Duisenberg intimated that the circumstances which led to the cut have only really become clear in the last month. Price stability over the…
Outgoing BoJ chief doubts market interventions use
Speaking on Friday Bank of Japan governor Masaru Hayami said he thought central banks attempts to intervene in the foreign exchange market were not vary effective.
RBZ lacks autonomy, says economic analyst
An economic analyst for the Zimbabwe Economic Society has said that Zimbabwe's central bank lacks independence, with the governor appointed by the president and the government able to borrow money "willy-nilly" from the central bank.
UK Treasury criticised over Bank appointments
UK chancellor Gordon Brown faced criticism on Thursday over the lack of transparency in the appointments process to the Bank of England's Monetary Policy Committee.
Inflation targeting, growth move in sync - Mboweni
A low inflation environment supports economic growth and no one can oppose that, said Tito Mboweni. The South African Reserve Bank governor was speaking in his first lecture at a university he is an honorary professor of.
Fed's Gramlich: Iraq impact 'imponderable'
Ed Gramlich of the Federal Reserve said on Thursday that a conflict with Iraq would have consequences for the US and world economy but that the effects were impossible to predict.
Bank of Mexico in paintings mix up with government
CentralBankNet hears of an unfortunate mix up involving valuable paintings, the Bank of Mexico and an apparent infringement of copyright on the central banks fine art collection.
Brazil's Palocci sees IMF loan despite inflation
Finance minister Antonio Palocci said he expects the next tranche of Brazil's record IMF loan to be approved despite an increase in inflation in the country.
ECB refinancing, 6 Mar
PRESS RELEASE - Monetary policy decisions. The minimum bid rate on the main refinancing operations will be reduced by 0.25 percentage point to 2.50%, starting from the operation to be settled on 12 March 2003.
ECB on foreign exchange market, 5 Mar
PRESS RELEASE - Publication of a review of the foreign exchange market structure, 5 March. Analysis of the structure of the foreign exchange market.
Trichet favours Bank of France re-organisation
A report says Jean-Claude Trichet favours a re-organisation of the Bank of France by departments, as opposed to regions.
Canada's gold reserves fell last month
Canada's finance department revealed on Wednesday that it had sold part of its gold holding, with the proceeds to be used for buying other foreign currency securities.
Kenya's ex-central bank chief hits back at critics
On Wednesday CentralBankNet reported the resignation, and prompt replacement, of Kenyan central bank chief Nahashon Nyagah over the Euro Bank affair. Now a report quotes Nyagah as denouncing what he called, the "orchestrated" campaign to oust him.
Russia's gold and for ex reserves continue to rise
Russia's central bank has announced increased reserves of 0.8% for gold and foreign exchange. This represents a new record.
Danes lower rates
PRESS RELEASE - Interest rate reduction, 6 March. The Danish central bank lowered its key interest rate 0.25% in response to the ECB's cut.
New Zealand holds rates
PRESS RELEASE - The Reserve Bank has decided to leave the Official Cash Rate at 5.75 per cent, 6 March.
Taiwan's forex reserve hits another record high
The Central Bank of China's monthly report showed an increase in foreign exchange reserves in February taking Taiwan's reserves to a record high.
Fed's beige book - growth 'subdued' in early 2003
The Federal Reserve Beige Book released Wednesday showed that growth remained subdued in January and February. The evidence contained in the report forms a major part of the Fed's decision making process on the interest rate setting FOMC.
China to again reform its econ planning ministries
A plan to reorganise China's key economic ministries calls for a new State Banking Regulatory Commission to be spun off from the central bank, according to agency reports.
Norges Bank Press Release, 5 Mar
PRESS RELEASE - Norges Bank has decided to reduce the interest rate on banks' deposits with Norges Bank, the sight deposit rate, by 0.50 percentage point with effect from 6 March. The interest rate on banks' overnight loans will also be reduced by 0.50…
Bank of Japan Press Release, 5 Mar
PRESS RELEASE - Decision from the Bank of Japan Monetary Policy Meeting, 5 March.
Kenya president appoints new central bank governor
President Kibaki of Kenya has officially received and accepted the resignation of Nahashon Nyagah as the governor of Central Bank of Kenya (CBK). Dr Andrew Mulei has been appointed as his replacement. The CBK confirmed to CentralBankNet that Dr Mulei's…
Serb central banker would refuse Hague testimony
Serbian central bank chief Mladjan Dinkic said Tuesday he would refuse an approach for him to give testimony in the Hague because, he said, "I do not know what the purpose of my appearance before that tribunal would be".