News
Gramlich - Survey influenced new loan measures
US - Recent updates to the Federal Reserve's anti-predatory lending regulations tried to target especially harmful practices, rather than subprime lending in general, Federal Reserve Governor Edward Gramlich said Friday.
Broaddus - Fed moves significant and help recovery
US - Richmond Federal Reserve Bank President Alfred Broaddus said Friday the Fed's policy moves to date have been "significant" and will help with the economic recovery.
Bank of Japan Monetary Policy Meeting
MINUTES - Minutes of the Bank of Japan, Monetary Policy Meeting on 18, 19 December 2001.
Bank of Japan Monetary Policy Meeting
MINUTES - Minutes of the Bank of Japan, Monetary Policy Meeting on 29 November 2001.
Government seeks new amendment on BI law
INDONESIA - The government has resumed talks with legislators on the long suspended amendment of the central bank law, expanding the scope of discussion from Bank Indonesia's accountability to the entire law if need be, a legislator said.
Pakistan to establish forex reserves system
PAKISTAN - The State Bank of Pakistan (SBP) is putting in place a forex reserves management system (FRMS) in order to earn maximum return for the country.
Urdu version of Pakistan Governor's book launched
PAKISTAN - Translated edition of the book, "Pakistan-The Economy of an Elitist State", written by the Governor State Bank of Pakistan, Dr Ishrat Hussain, was formally inaugurated on Friday at a local hotel.
IMF: Argentina may spark inflation with note print
ARGENTINA - IMF Deputy Managing Director Anne Krueger said that the Argentine authorities may spark inflation if they start printing money, and thus neutralise any other economic measure taken to overcome the country's financial crisis.
Argentines angry at peso conversion
ARGENTINA - Argentines have reacted with hostility to the government's announcement that all US dollar bank accounts will be turned into the local currency, the peso.
UK Tory chief: Euro tests are 'rubbish'
UK - United Kingdom Conservative Party leader Iain Duncan Smith has called on Tony Blair to hold an early referendum on the UK adopting the European single currency.
ECB Press Release
PRESS RELEASE - Update on the euro cash changeover, 18 January 2002.
Fed's Parry: US recovery could happen in Q1 2002
US - San Francisco Federal Reserve President Robert Parry said on Wednesday that he expects the U.S. economy to be growing again by the second quarter of this year, and possibly earlier.
ECB - Over 90% of banknotes now replaced by euro
GERMANY - The amount of euro banknotes in circulation has reached more than 90% of the estimated number needed to replace the national banknotes circulating in the euro zone in 2001, the European Central Bank said Friday.
Croatian central bank governor considers leaving
CROATIA - The governor of the Croatian National Bank Zeljko Rohatinski is thinking about resigning his post in the near future, a top central bank source said on Friday.
Swedish inflation above level needed for EMU entry
SWEDEN - Sweden's strong inflation rate is currently running at above the rate required for EMU entry, and January's rate risks being the highest since 1993, said Handelsbanken Research, adding that the central bank now has very little scope for rate…
Argentine police probe capital flight
ARGENTINA - Argentine police, probing claims of massive capital flight, have raided local offices of several major international banks.
Bank of Japan report spurs fear of new crisis
JAPAN - The Bank of Japan considers the state of the Japanese economy to be grim. In its monthly report on recent economic and financial developments, the central bank concluded that the economy was "deteriorating broadly".
European Commission predict eurozone rebound
EUROPE - The eurozone economy may have shrunk during the last three months of 2001, but it is due for a rapid rebound, the European Commission has calculated.
Mara Raubisko approved to Bank of Latvia board
LATVIA - The Bank of Latvia council today approved Mara Raubisko as chairwoman of the board at the Bank of Latvia, LETA was informed by the bank's press secretary Edzus Vejins.
China's new gold exchange delayed but not derailed
CHINA - China's plans to open a gold exchange in Shanghai early in 2002 are still intact but laws on important details, including whether to impose the value-added tax on exchange transactions, have yet to be issued, an exchange spokeswoman said on…
Argentine central bank chief Maccarone resigns
ARGENTINA - Argentina's central bank president, Roque Maccarone, criticised for his handling of government banking regulations, has resigned.
Germany on brink of recession
GERMANY - The German economy is teetering on the brink of official recession, officials have said, after figures showed growth in 2001 slowing to its lowest level for eight years.
Bank of England in legal action
UK - The Bank of England faces legal action by a mother who returned from maternity leave and was sacked for rejecting changes to its benefits package that made employees worse off, said Unifi, the banking and finance union.
Central bank chief warns on Russian reforms
RUSSIA - Russia's central bank president has cautioned against accelerating liberal economic reforms, saying it could undermine efforts to repay debt.