News
Amendment of BI law to be completed soon
INDONESIA - The House of Representatives and government officials are expected to finish debate over the amendment of the central bank law within two weeks.
Polish central bank - Support early euro entry
POLAND - The European Union should encourage new members of the bloc to adopt the euro as their national currency as early as possible, the president of the Polish central bank said Monday.
Auditing guide on banks
IRELAND - Auditors of banks have been issued with guidance notes to help them decide when they should report matters of concern to the Central Bank. Similar practice notes from the Auditing Practices Board will be issued for the auditing of insurers and…
Eurogroup's Rato supports Trichet as ECB head
FRANCE - Rodrigo Rato, chairman of the group of EU finance ministers, on Thursday said the next president of the European Central Bank should be French and signalled his support to put Bank of France Governor Jean-Claude Trichet in the top job.
Hungarian ctrl bk to coordinate data after glitch
HUNGARY - The National Bank of Hungary and the Central Statistics Office, or KSH, Wednesday signed a pact to harmonize data collection, two days after the central bank revised and more than doubled the 2001 current account deficit.
Interview with Anne Krueger of the IMF
INTERVIEW - Anne Krueger, First Deputy Managing Director, International Monetary Fund, Le Monde Economie, 18 February.
Aide warns over euro politics
UK - One of Chancellor Gordon Brown's closest aides has warned against allowing political pressures to influence the government's approach to the euro.
German recession confirmed
GERMANY - The German economy is officially in recession, according to official figures which have confirmed two successive quarters of contraction.
Nikkei soars ahead of deflation plan
JAPAN - Japan's top economic policy makers are meeting to finalise moves to curb spiralling deflation and stabilise the stock market.
ECB Press Release
PRESS RELEASE - Monetary developments in the euro area: January 2002, 27 February 2002.
HKMA Press Release
PRESS RELEASE - Real Time Gross Settlement (RTGS) Systems in Hong Kong and Reuters Dealing 3000.
Greenspan says US economic recovery may be weak
US - Federal Reserve Chairman Alan Greenspan said the U.S. economic rebound this year is likely to be slightly weaker than Wall Street expects because the recovery may be restrained by a lack of consumer demand, industrial overcapacity and skittish U.S…
BofE George warns of possible threat to inflation
UK - Sir Edward George, the governor of the Bank of England, has warned of the risk that the economy will slow further at the same time as the pound falls, putting upward pressure on inflation.
Japan urged to adopt British-style economic reform
UK - The British government will today urge Japan to press ahead with privatisation and other structural reforms as the best way to pull the country out of its deepening economic crisis.
New Middle East development bank proposed
BELGIUM - The European Commission will on Wednesday unveil proposals for a new development bank for Mediterranean and Middle East countries amid a debate over the European Union's political and economic role in the region.
Bundesbank reform heads toward final hurdle
GERMANY - Germany's reform of the once mighty Bundesbank headed toward its final parliamentary hurdle on Wednesday but a last-minute change cast doubt on when the changes would take effect, parliamentary officials said.
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Draft deflation plan set to disappoint
JAPAN - Fears are growing that the Japanese government's latest plan to revive the economy will fall short of expectations.
O'Neill: 'Enron to trigger stricter laws'
US - US Treasury Secretary Paul O'Neill has weighed into the debate about how to prevent any repetition of the Enron scandal with proposals to tighten the law on negligence.
Dow Jones closes at 7-week high
US - Strong US house sales and upbeat forecasts from a string of major companies including auto giant General Motors sent Wall Street shares soaring on Monday.
IMF's Krueger - World economy near turning point
UK - The world economy is at or near a turning point, which makes it difficult for central banks to make the right decisions on interest rates, International Monetary Fund First Deputy Managing Director Anne Krueger said Monday.
Argentina's Todesca - Ctrl bank has issued ARS350M
ARGENTINA - Argentina's central bank has already printed 350 million pesos of the 3.5 billion ($1=ARS2.025) it said it will print this year, Deputy Economy Minister Jorge Todesca told local media over the weekend.
Greece needs more structural reforms-cen bank
GREECE - Greece needs to proceed with additional structural reforms in order to boost the economy's competitiveness in the eurozone, the Bank of Greece and The Brookings Institution, said on Monday.
Gold loses its shine as banks sell, costs fall
AUSTRALIA - A third of the gold ever mined, or 30,000 tonnes, is stored in central banks around the world. The banks want to lower their reserves in favour of higher yielding investments such as bonds and currency.