News
Dollar falls for fourth day in five versus euro
US - The U.S. dollar fell for a fourth day in five against the euro after a Federal Reserve report showed Philadelphia-area manufacturing unexpectedly contracted this month, the latest sign the U.S. economic recovery is slowing.
Court upholds ruling on Argentine deposit freeze
ARGENTINA - An Argentine federal appeals court has upheld a prior ruling that declared unconstitutional the deposit freeze in place since December last year, along with all subsequent measures based upon it, local press reported.
Some Fed members saw policy as too easy in June
US - In late June, some members of the Federal Reserve's interest-rate panel thought monetary policy was too easy for the central bank's long-term inflation-fighting and growth goals FOMC minutes show.
Fed revises estimate on number and value of checks
US - Newly released numbers from the Federal Reserve System suggest that US check usage may have peaked in the 1990's and if so, that check writing in the U.S. may be steadily giving way to electronic forms of payment.
O'Neill sees growth, zero inflation
US - U.S. Treasury Secretary Paul O'Neill has said that the U.S. economy was set to exit 2002 in good shape with inflation benign, but exhorted corporate executives to help revitalize the economy by setting an example of honesty and integrity.
Minutes of Japan's Monetary Policy Meeting
MINUTES - Minutes of the Bank of Japan's Monetary Policy Meeting on 15 and 16 July 2002, released 14 August. The minutes show that the members felt the U.S. economy was continuing on a recovery trend. On the current state of Japan's economy, members…
Minutes of Japan's Monetary Policy Meeting
MINUTES - Minutes of the Bank of Japan's Monetary Policy Meeting on 26 June 2002, released 14 August. The policy board acknowledged that most U.S. economic indicators confirmed that the country's economy continued to be on a recovery trend. The board…
Bank of England News Release
NEWS RELEASE - Bank of England £5 Banknotes, 14 August.
Federal Reserve Bulletin - August 2002
REPORT - The Bulletin is in two parts. Firstly the Monetary Policy Report to the Congress and an article, 'The Use of Checks and Other Noncash Payment Instruments in the United States'. The article suggests that the use of checks in the United States has…
High gold price hits demand in India
INDIA - India, the world's largest consumer of gold, has cut imports of the precious metal by nearly half because of the sharp rise in global prices in recent months.
BOK unlikely to make up for gov't losses
SOUTH KOREA - The Bank of Korea (BOK) expressed reservation yesterday about taking actions to make up for losses incurred by irretrievable public funds that were used to stabilize the economy in the wake of the 1997 IMF financial crisis.
Hungary's Jarai admits reporting to secret service
HUNGARY - The chairman of the National Bank of Hungary Zsigmond Jarai yesterday protested against publishing his personal data, but today, he gave a statement to a Hungarian newspaper. The report comes from BBC monitoring.
Man admits Ukraine National Bank governors murder
UKRAINE - A court in Luhansk has heard details of the contract killing of the former head of the National Bank of Ukraine, Vadym Hetman.
Records show Moskow donated money to Bush fund
US - Federal Reserve Bank of Chicago President Michael Moskow donated $2,000, the maximum allowable, to President George W. Bush's election campaign, according to Federal Election Committee records.
Singapore central bank to revise structure
SINGAPORE - The Monetary Authority of Singapore said on Thursday it will introduce several structural changes "to more clearly align the organisation's resources and objectives."
Arafat names Palestinian MA officials
PALESTINE - President Yasir Arafat has decreed the appointment of Dr Amin Muhammad Haddad as governor of the Palestinian Monetary Authority.
Federal Reserve Board Press Release
PRESS RELEASE - The Federal Open Market Committee decided today to keep its target for the federal funds rate unchanged at 1 3/4 percent, 13 August.
Bank of England Monetary Policy Committee Minutes
MINUTES - Minutes of the Bank of England's Monetary Policy Committee Meeting, 31 July and 1 August 2002. The minutes showed members of the Bank of England unanimously voted to leave interest rates on hold at the 31 July-1 August meeting. The members…
Spanish cen bank launches early retirement scheme
SPAIN - Banco de Espana, Spain's central bank, is to offer an early retirement scheme to employees of 50 years of age or older who work at the 30 branches across Spain to be closed down.
Russian PM says central bank to continue float
RUSSIA - The central bank and the government of Russia will ensure the stability of the rouble rate in 2003, but the rouble rate should correspond with economic development, Prime Minister Mikhail Kasyanov said at a government session on Wednesday.
Uruguay's central bank to begin deposit return
URUGUAY - Uruguay's government will begin returning deposits on Wednesday to clients of suspended banks Banco Montevideo, Caja Obrera, Comercial and de Credito, the central bank said in a statement.
Iran's economy minister threatens to resign
IRAN - Iran's Minister of Economy and Financial Affairs Tahmasb Mazaheri has threatened that he would resign if the Governor of the Central Bank of Iran (CBI) Mohsen Nurbakhsh is not removed from office, press reported Wednesday.
Reserve Bank of New Zealand News Release
NEWS RELEASE - Reserve Bank pauses, OCR held at 5.75 per cent, 14 August.
South African banks move to restore trust
SOUTH AFRICA - A review of governance of South Africa's five major banking groups will be undertaken, Registrar of Banks Christo Wiese said on Wednesday.