News
US central bank HQ anthrax-free - fed reserve
US - The US Federal Reserve headquarters in Washington has been declared anthrax-free after testing negative for the germ, a spokesman said.
Argentina new bid to cut debts
ARGENTINA - Argentina's beleaguered Economy Minister, Domingo Cavallo, is preparing to announce measures to try to prevent the country defaulting on its massive debts.
RBA Macfarlane says growth running at around 3 pct
AUSTRALIA - Reserve Bank Governor Ian Macfarlane said on Thursday he saw the Australian economic growth running at around three percent.
Spain to greet euro with video projection, TV show
SPAIN - Spain will welcome euro notes and coins 31 December 2001 with a television show and coordinated video projections in major squares across the country.
Rerngchai pleads innocence over baht defence
THAILAND - An extract of the unofficial translation of an open letter from former Bank of Thailand governor Rerngchai Marakanond in reply to the bank's charge against him of gross negligence for the failed baht defence.
CNB to change internal structure as of 2002
CZECH REPUBLIC - The Czech National Bank's (CNB) organisational structure will change as of 1 January 2002, and the Bank Board should deal solely with monetary issues and monetary-political decisions, says the latest edition of the Euro weekly, due out…
RBI wants to delicense money changers
INDIA - In tune with the financial sector liberalisation, the Reserve Bank of India (RBI) wants to delicense the money changers. It plans to get out of the business and wants the money changers to work as agents of public sector banks.
China to lift foreign banks' forex restrictions
CHINA - China will lift restrictions on foreign-exchange business conducted by foreign banks operating in the country, China's central bank announced via state television Sunday.
ECB Press Release
PRESS RELEASE - Monetary policy decisions, 6 December 2001.
ECB Press Conference
PRESS CONFERENCE - Introductory statement by Willem F. Duisenberg, President of the European Central Bank and Christian Noyer, Vice-President of the European Central Bank, Frankfurt, 6 December.
Japan falls into recession
JAPAN - Japan has entered a recession, according to the latest official figures, which show the world's second largest economy continued to shrink between July and September.
Argentina seizes pension funds
ARGENTINA - The Argentine government has said it is to use money held in private pension funds to help pay its bills.
IMF approves $1.3bn loan to Pakistan
US - The International Monetary Fund has approved a $1.3bn loan for Pakistan, to help it battle poverty and offset the economic impact of the war in Afghanistan.
Afghanistan's central banker invited home
AFGHANISTAN - Afghanistan's former central banker has been asked by the leader of the Northern Alliance to return to run the country's monetary policy.
Australian Reserve Bank to keep tower
AUSTRALIA - The Reserve Bank of Australia (RBA) has key offices in capital cities of Australia. In late 2001, it has decided to keep its Melbourne office at 60 Collins Street.
EU won't protest changes at Polish c bank
POLAND - An amendment to Poland's central bank law increasing the size of the bank's interest rate-setting Monetary Policy Council, or RPP, shouldn't draw protests from the European Union, Prime Minister Leszek Miller said Friday in an interview on…
Pakistan's For Ex reserves up US$85.3m
PAKISTAN - The foreign exchange reserves of Pakistan have registered an increase of US$85.3 million over the previous week.
S Africa's Nov gold, For Ex reserves up 9.4%
SOUTH AFRICA - South Africa's gold and foreign exchange reserves rose 9.4% to 77.7 billion rand ($1=ZAR10.8755) in November from ZAR71.00 billion in October, the South African Reserve Bank said Friday.
Anthrax found in Federal Reserve mail facility
US - The Federal Reserve Board that sets U.S. interest rates and guides the world's most powerful economy, announced on Thursday that mail possibly contaminated with anthrax had been found at its off-site postal facility set up to head off suspect mail.
U.S. Senate okays Bies, Olson to Fed board
US - The U.S. Senate on Thursday confirmed the nominations of bankers Susan Schmidt Bies and Mark Olson to the seven-member Federal Reserve Board, whose most visible job is setting U.S. interest rates.
IMF blocks loan to Argentina
ARGENTINA - The International Monetary Fund has disappointed Argentina by effectively blocking a $1.3bn loan payment.
World Bank: more globalisation
US - A new report from the World Bank argues that globalisation has helped reduce world poverty, but still has more to do.
ECB holds rates steady
EUROPE - The European Central Bank (ECB) has left its key interest rate unchanged at 3.25% on Thursday at its last meeting before the introduction of euro notes and coins in January.
Japan braces for recession
JAPAN - Japan is poised to cross the official dividing line into recession on Friday morning when figures showing how much its economy has shrunk are released.