News
Taiwan acts on banking reform
Taiwan's finance ministry is encouraging banks to clean up their balance sheets by offering streamlined product approval for those with non-performing loan (NPL) ratios of below 5 per cent.
Bangladesh orders bad debt write-offs
The Central Bank of Bangladesh has introduced a major economic initiative ahead of a general strike on Friday over rises in fuel prices.
Fed anthrax scare proves false alarm
An anthrax scare at a Washington post office involving a letter destined for the Federal Reserve proved to be a false alarm, the Federal Reserve said.
Argentina defaults on IADB loan
Argentina said on Wednesday it could not repay a loan to the Inter-American Development Bank on time, adding the Washington-based multilateral lender to the growing list of institutions to which it has defaulted.
Yugoslav central bank chief complains of pressure
The National Bank of Yugoslavia Governor Mladjan Dinkic has spoken at a news conference about the economic problems associated with the position of the bank in the constitutional charter for Serbia and Montenegro.
Report names possible replacements for Hamalainen
A German newspaper has named two women as favourites in the race to succeed Sirkka Hamalainen on the Executive Board of the European Central Bank.
Minutes of Japan's Monetary Policy Meeting
MINUTES - Minutes of the Bank of Japan's Monetary Policy Meeting on 18 and 19 November 2002, released 20 December. The nine member Policy Board considered that it was appropriate to maintain the current guideline for money market operations. Private…
Minutes of Japan's Monetary Policy Meeting
MINUTES - Minutes of the Bank of Japan's Monetary Policy Meeting on 30 October 2002, released 20 December. Consumer prices continued to decline by slightly less than 1 percent year on year. The pace of year-on-year decline in the Consumer Price Index…
IMF Press Release
PRESS RELEASE - Argentina: Press Statement following Article IV Consultation, 8 January.
Dutch legislator calls for Duisenberg's sacking
European Central Bank President Wim Duisenberg should be fired because he supports his wife Gretta's anti-Israel positions and embrace of Yasser Arafat, a leading Dutch parliamentarian visiting Jerusalem has said.
ECB council member sees no need for rate move
European Central Bank Governing Council member Ernst Welteke has indicated that he's happy with the present level of euro-zone interest rates.
PBOC steps up supervision of for ex trading
The People's Bank of China (PBOC) introduced a supervisory procedure on 15 January on large-sum and suspicious foreign exchange trading, in a bid to monitor foreign exchange trading and standardize reports.
Nigerian sleaze hits Africa's single currency plan
Officials at the International Monetary Fund (IMF) have warned West African nations against creating a single currency, over fears that Nigerian involvement would undermine its credibility.
Japan's Takenaka seeks new relationship with BOJ
Japan's Economics and Financial Services Minister, Heizo Takenaka, said on Wednesday a new relationship is needed between his government and the Bank of Japan for a common goal on policy targets.
Anthrax feared in Federal Reserve letter
A facility that handles government mail is undergoing precautionary testing for anthrax after a test on mail at the Federal Reserve indicated the potential presence of the deadly anthrax bacteria.
Bank blamed as forint hits upper limit vs euro
Hungary's central bank was under fire Tuesday for its high interest rate policy after the national currency, the forint, rose to the upper limit of its trading band against the euro.
Volcker airs concerns about volatility of ex rates
Former Federal Reserve Chairman Paul Volcker voiced concern Monday that too little attention is paid to the volatility of exchange rates. He also said the US economy had left itself exposed as to whether a future correction of the current account deficit…
Sveriges Riksbank Press Release
PRESS RELEASE - Distribution of work in the Executive Board, 9 January.
Outsiders may fill vacuum at top of Bank of Canada
The Bank of Canada, facing a top-level retirement and the departure of its cost-cutting number two, may have to look at outside nominees to bring its management team back up to strength, analysts said on Monday.
Fed's Guynn: Probability of deflation 'very low'
Federal Reserve Bank of Atlanta President Jack Guynn said Monday the U.S. faces little chances of falling into the same deflationary trap that has ensnared Japan. His comments are broadly in line with many central bankers who have spoken in recent months…
Takenaka upbeat on Japan growth after Bank reform
Japan's economy and banking minister said Tuesday the economy could eventually return to growth as high as 2.5% after a slow-growth period of painful reform. Heizo Takenaka spoke at the Australian National University and maintained pressure on the Bank…
New face to front foreign exchange policy in Japan
Zembei Mizoguchi became Japan's new voice on foreign exchange policy Tuesday, taking on the tough task of deciding when and by how much to intervene in the market to halt a rapid rise in the yen, analysts said. Speculation also mounted that Haruhiko…
Afghan currency strengthening - bank official
The governor of the Afghan central bank has said that following the redenomination, the value of the new Afghan currency against the dollar increased.
Argentina agrees IMF plan
Argentina has taken a crucial step towards securing further loans for its troubled economy by accepting an outline proposal from the International Monetary Fund (IMF).