News
UK could join euro in less than 2 years
UK - Britain could introduce euro notes and coins less than two years after a single currency referendum, Peter Hain said on Tuesday.
Nations start line up for Washington rollover
UK - The announcement last week that Wim Duisenberg is to retire as head of the European Central Bank, and the comments by Bundesbank governor Ernst Welteke Tuesday that Germany may sell some of its gold, has revived industry speculation that the…
Shortlist narrows for vice-presidency of ECB
BELGIUM - The field of candidates for one of Europe's top policymaking posts, the European Central Bank's vice-presidency, narrowed yesterday after a potential front-runner from Belgium declared himself unavailable for the job.
Third Joint Central Bank Research Conference
CONFERENCE - CGFS Research Conference Programme and submitted papers: Risk Measurement and Systemic Risk.
Quaden - I'm not candidate for ECB vice presidency
BELGIUM - Belgian Central Bank Head Guy Quaden Tuesday ended weeks of speculation, saying he isn't a candidate to replace Christian Noyer as vice president of the European Central Bank.
Austrian c.banker seen as candidate for ECB
AUSTRIA - The Austrian National Bank's 49-year old deputy governor, Gertrude Tumpel-Gugerell, could be a candidate to replace Finnish ECB board member Sirkka Hamalainen, who is in charge of the ECB's money market operations, an Austrian weekly magazine…
U.S. German wages risks to German upturn - Welteke
GERMANY - European Central Bank council member Ernst Welteke said on Monday an upcoming wage round and uncertainty about the U.S. economy were risks to an upturn of the Germany economy.
Reform fears hit Tokyo markets
Japan - Two Japanese economy ministers have dashed hopes of an injection of public money into Japan's ailing banking system.
Venezuela 'declares war' on speculators
VENEZUELA - Venezuela's president Hugo Chavez has declared a "war on speculators" as prices rose after last week's currency devaluation.
IMF urged to help Argentina
ARGENTINA - The South American trade bloc, Mercosur, has appealed to international lenders to do more to help Argentina as it draws up a plan to rescue the economy.
BoE's George plays down talk of jump in UK rates
UK - Bank of England Governor Sir Edward George warned financial markets on Tuesday they should not get too carried away with the idea that British interest rates are set to rise sharply this year.
Bank of Latvia awarded as most creative State Bank
LATVIA - The Bank of Latvia received Vreneli prize at the World Money Fair in Basel, Switzerland, as the most creative state bank, a spokesman said.
Asian economies on the mend
ASIA - While many of Asia's economies are stagnating or deep in recession, anecdotal evidence emerges from Singapore, Taiwan, South Korea and Australia that a recovery could be under way.
UK and Italy in new alliance
UK - UK Prime Minister Tony Blair and his Italian counterpart Silvio Berlusconi have agreed in principle on a common position for lifting regulations on European labour and energy markets during a summit in Rome.
Armenia's central bank sends open letter to papers
ARMENIA - Chairman of Armenia's Central Bank Tigran Sargsyan sent an open letter to the editors-in-chief of the Aravot and Haykakan Zhamanak Armenian dailies.
Sanctions threat to 'opaque' tax haven
UK - The government is considering imposing sanctions on Jersey, one of the Channel Islands, if it fails to comply with international action to force tax havens to improve financial transparency.
Debt relief urged for poorest seven countries
UK - Aid donor countries are to meet in London later this week to consider possible new financial support - including foreign debt relief - for the seven poorest countries of the former Soviet Union.
RBA says Australia's prospects pretty good
AUSTRALIA - The Reserve Bank of Australia said on Monday there were good reasons to be confident about the domestic economy over 2002, but warned that Japan remained the biggest risk to a global recovery.
BOK to introduce cyber credit card in October
SOUTH KOREA - The Bank of Korea (BOK) is moving to introduce an online cyber credit card which will be available in October this year.
Bush gaffe hits yen
US - A remark by US President George W Bush about "devaluation" in Japan has caused confusion in the currency markets.
UK to encourage Islamic mortgages
UK - Moves by the UK Treasury and the Bank of England to encourage Islamic mortgages, investments and current accounts in Britain may be under way.
India frees up bank investment rules
INDIA - Shares in India's leading banks have jumped by as much as 20%, after the government relaxed its rules on foreign investment.
Bangladesh talks with IMF fail
BANGLADESH - Negotiations between Bangladesh and the International Monetary Fund for an emergency balance of payments loan have failed.
Venezuela c bank to start dollar auctions Monday
VENEZUELA - The Venezuelan Central Bank will start Monday with a daily auction of U.S. dollars to the currency market to guarantee supplies of dollars while the bolivar adapts to a new free-floating exchange system.