News
ECB Press Release
PRESS RELEASE - ECB recognises partners' valuable contribution to the smooth introduction of the euro banknotes and coins 5 February.
Foreign banks play down euro importance to City
UK - Foreign banks operating in London believe that the City's success does not depend on the euro.
Banker calls for Asian free trade area
UK - The economies of south-east and east Asia should intensify efforts to build a regional free trade area to reduce their dependence on information technology exports to the US, according to Tadao Chino, president of the Asian Development Bank (ADB).
Japan ready to intervene in markets
JAPAN - Japan's government said yesterday it was prepared to take "decisive action" to prevent a further fall in the stock market after the Nikkei 225 benchmark index closed at an 18-year low.
FSA steps up split caps probe
UK - The city watchdog has stepped up its investigation into split caps, with the announcement that it has started swooping on investment firms involved in the controversial trusts.
BoE's George hints at reluctance to raise rates
UK - Sir Edward George, governor of the Bank of England, hinted last night that he does not support a rapid rise in interest rates.
Swedish c bank gov stands by Dec inflation outlook
SWEDEN - Swedish inflation, currently running well in excess of three percent, looks set to slow to levels around the central bank's two percent target, central bank, or Riksbank, Governor Urban Backstrom said on Saturday.
Greenspan urges better financial knowledge
US - Federal Reserve Chairman Alan Greenspan said on Tuesday that consumers needed to increase their financial knowledge to cope with an increasingly sophisticated marketplace.
Reserve Bank of New Zealand News Release
NEWS RELEASE - The Reserve Bank today rejected the suggestion, made by ACT leader Richard Prebble, that the registration of Kiwibank involved any special treatment, 4 February.
Egypt calls for aid
EGYPT - Egypt is to ask international donors for financial support of $2.5bn to help it plug the gap in the country's accounts.
Japan shares hit 18-year low
JAPAN - Japan's shares have slumped to a new 18-year low.
Afghanistan's accounting nightmare
FEATURE - Deep in the vaults of Afghanistan's central bank is what looks like a mountain of money - bundles of notes piled as high as a man fill a small room.
Afghan currency 'expected to stabilise'
AFGHANISTAN - The Afghan currency, the Afghani, has seen huge changes in value over the last few months.
IMF approves $16bn for Turkey
TURKEY - The International Monetary Fund (IMF) has approved a $16bn economic package for Turkey, the third major aid program for Ankara in under two years.
Turkey - Letter of Intent
NEWS - The following item is a Letter of Intent of the government of Turkey, which describes the policies that Turkey intends to implement in the context of its request for financial support from the IMF.
IMF Press Release, 4 February
PRESS RELEASE - IMF Managing Director Sees Impressive Commitment by Turkey to Economic Reforms; Executive Board Approves US$16 Billion Stand-By Credit.
Czech Havel meets Niedermayer on his cbank post
CZECH REPUBLIC - Czech President Vaclav Havel met central bank (CNB) Vice-Governor Ludek Niedermayer late on Monday to discuss his future on the bank's policy-setting board, Havel's spokesman said on Tuesday.
China to open banking sector as promised
CHINA - China will keep its promise to gradually open up its banking sector in accordance with the timetable set in the WTO agreement, said Chinese central bank governor.
Poland deploys technology in reserve management
POLAND - Trema today announced that the National Bank of Poland has selected Finance KIT, Trema's straight-through processing treasury, risk and asset management solution, to automate its reserve management in preparation for Economic and Monetary Union…
Mexico - No rift with ctrl bk over power rate hike
MEXICO - There is "no rift at all" between the Mexican finance ministry and the central bank, following the government's decision to raise electricity prices, a move that Bank of Mexico Governor Guillermo Ortiz has dubbed inflationary, Finance Minister…
ECB Press Release - Central Banking Conference
PRESS RELEASE - Second ECB Central Banking Conference, "The transformation of the European financial system", released 4 February 2002.
Argentina unveils crisis package
ARGENTINA - Argentina's latest move to end the country's worst economic crisis in decades has been welcomed by observers, eager to see a return to normality.
Koizumi rejoins battle for reform
JAPAN - Japanese Prime Minister Junichiro Koizumi has promised to forge ahead with painful reforms to revive the economy despite a sudden drop in his popularity.
Global economy 'recovering'
US - The head of the International Monetary Fund has told a meeting of the World Economic Forum in New York that he believes the world's economy is heading for recovery.