News
Tokyo shares surge as Asia awaits Fed
JAPAN - Japanese shares jumped nearly three percent Tuesday, while most other Asian stock markets paused to pocket profits, as investors looked forward to an expected cut in U.S. interest rates.
IFSB appoints Rifaat as first secretary-general
MALAYSIA - The newly established Islamic Financial Services Board (IFSB) has appointed Prof Rifaat Ahmed Abdel Karim as its first secretary-general for a three-year term.
Panel to discuss central bank of Israel's wages
ISRAEL - Knesset State Control Committee Chairman MK Ran Cohen (Meretz) has called an extraordinary session for next week to discuss the Bank of Israel's wage policy.
Latvia: New Era party announces coalition deal
LATVIA - Latvia's election-leading New Era party, headed by former central bank chief Einars Repse, said Monday that it has negotiated a four-party center-right coalition deal to lead the country into the European Union and implement Western-style…
Brazil's Fraga urges Lula reforms to help debt
BRAZIL - Brazil's Central Bank President Arminio Fraga on Monday urged President-elect Luiz Inacio Lula da Silva to press ahead with reforms that would assuage investors and cut the cost of servicing Brazil's $260 billion mountain of debt.
IMF upbeat on Ukrainian monetary policy
UKRAINE - The International Monetary Fund has approved the monetary policy of the National Bank of Ukraine because it enabled Ukraine to maintain stable prices and keep the low inflation rate, the head of the IMF mission in Ukraine, Emanuel van der…
Indian banks to take up forward trading in gold
INDIA - In what is seen as a possible first step in opening up the Indian bullion market, all scheduled commercial banks authorised to deal in gold have been permitted to enter into forward contracts with their constituents (exporters of gold products,…
Bank of England News Release
NEWS RELEASE - Bank Agency to be based in Exeter, 29 October.
Minutes from the Sveriges Riksbank Board meeting
MINUTES - Minutes of the Sveriges Riksbank Executive Board meeting on 16 October, published 30 October. Although the Executive Board voted to maintain the repo rate at 4.25 per cent the minutes reveal Deputy Governor Kristina Persson entered a…
China to promote small loans to rural households
CHINA - A spokesman for the People's Bank of China (PBOC) said Monday that the central bank will adopt more effective measures to guide and promote rural credit cooperatives to grant small credit loans to rural households.
Korea's foreign ex reserves over $116 billion
KOREA - The Bank of Korea said Saturday the nation's foreign exchange reserves as of the end of October amounted to $116.9 billion, up $305 million from the end of the preceding month.
Mexico holds firm on inflation targets
MEXICO - Mexico's Central Bank president held firm on the country's inflation targets for this year and next, even as expectations of higher inflation and diminished growth mount.
World Gold Council welcomes Shanghai gold trading
CHINA - The World Gold Council has welcomed the successful launch this week of trading in physical gold on the new Shanghai Gold Exchange. Trading started on Wednesday, October 30, and in the three days since more than 790 kilos of gold bullion has…
Monetary Council of ECCB meets in Anguilla
ST KITTS - Member countries of the Eastern Caribbean Central Bank (ECCB) have recommitted themselves to maintaining the value of the exchange rate at 2.70 EC Eastern Caribbean dollars to the United States dollar.
Swedes could reject euro, says union body
SWEDEN - The head of Sweden's powerful blue collar labour organisation has warned that Swedes could reject membership of the euro unless the government takes special measures to protect the country's cherished welfare model.
Customs union a step towards GCC integration
OMAN - The GCC monetary union is a stepping-stone for "higher order of integration among member states," said Hamoud Sangour Al Zadjali, Central Bank of Oman executive president.
UAE c bank begins registering hawala operators
UAE - In a first step towards regulation of hawala, the UAE Central Bank has embarked on a registration and reporting system for hawaladars or brokers.
Argentina: World Bank extends loan deadline
ARGENTINA - World Bank President James Wolfensohn said the due date for a debt payment to the World Bank has been pushed back to 14 Nov from 9 Nov, Argentine Economy Minister Roberto Lavagna said in a Sunday newspaper interview.
Bank of Greece set to improve transparency
GREECE - The Bank of Greece on Friday indicated that restrictions on consumer and personal loans could be lifted next year on condition that the current slowdown in credit growth continues at the same pace and a forthcoming study can prove that Greek…
Solomon c bank warns on fake Diana charity
SOLOMON ISLANDS - The Solomon Islands Central Bank has stepped up its campaign against the promoters of a get-rich-quick scheme that claims links with the late Princess Diana.
Ghana will play active part towards monetary union
GHANA - Vice President Aliu Mahama on Thursday said Ghana would fully support all activities toward the adoption of a monetary union for West Africa to facilitate trade and movement for the socio-economic benefit of the 250 million people in the Sub…
Yugoslav central bank will not devalue dinar- gov
YUGOSLAVIA - The Yugoslav central bank is determined to keep the dinar exchange rate at its current level because any major change could seriously threaten reforms, Yugoslav central bank governor Mladjan Dinkic has said.
Brazil c bank sees 2003 inflation near 6 pct-COPOM
BRAZIL - Brazil's Central Bank sees 2003 inflation near its adjusted target of 6 percent, above its previous projection of about 5 percent, the minutes of its Oct. 22-23 rate-setting meeting reveal.
Czechs cut interest rates for fifth time this year
CZECH REPUBLIC - The Czech central bank yesterday cut interest rates for the fifth time this year in a new attempt to stimulate faltering domestic economic growth and slow the rapid appreciation of the Czech koruna.