News
Euro preparations are "catching up":Duisenberg
Belgium - Wim Duisenberg, the European Central Bank president, speaking at the European Union's Committee of the Regions yesterday said that small and medium-sized enterprises (SMEs) were "rapidly catching up" in time for Euro-day when notes and coins…
Bank of Korea hosts Asian central bank meeting
SOUTH KOREA - The Bank of Korea will today host the "14th Pacific Basin Central Bank Conference" at its headquarters in Seoul the central bank said.
China, HK banks to share retail expertise - HKMA
HONG KONG - Banks from China and Hong Kong can cooperate closely on retail banking business, such as swapping information about the credit standing of borrowers, Hong Kong's de facto central bank chief said last Thursday.
Further fall takes UK headline inflation rate 1.6%
UK - The headline rate of inflation fell further last month, as mortgage lenders passed on the Bank of England's September interest rate cut to customers.
Brazil currency rally unlikely to get c bank boost
BRAZIL - A reversal of Brazil's economic fortunes appears to be in the cards as a feeling that the worst is over quickly spreads across local markets, triggering a strong rally in the embattled real.
ECB gives timetable for non-rate policy meetings
ECB - The ECB from now on will discuss monetary policy and announce rate decisions only once a month, usually at its first meeting in the month.
EU candidates should avoid forex fluctuations
UK - Countries seeking to join the European Union will be well-adviced to avoid excessive exchange rate fluctuations against the euro, European Central Bank Vice President Christian Noyer said Monday.
EU accepts world trade deal
DOHA - A new round of global trade negotiations is moving closer to be launched, as the six-day ministerial meeting in Doha draws to a close.
Hayami: Econ ministers didn't discuss BOJ policy
JAPAN - Bank of Japan Governor Masaru Hayami said Wednesday economic ministers didn't discuss monetary policy at a regular meeting earlier in the day.
Alan Greenspan: The accidental economist
US - Federal Reserve Chairman Alan Greenspan, perhaps the world's best-known and revered economist, on Tuesday said his choice of profession was a matter of chance.
Brazil's cen bank workers to strike on Wed - union
BRAZIL - Workers at Brazil's Central Bank in Brasilia say they plan to go on a 24-hour strike from midnight Tuesday, joining protests that have been interrupting the bank's state branches over the past week.
NZ c bank cuts cash rate 50 basis points to 4.75%
NEW ZEALAND - The Reserve Bank of New Zealand Wednesday met market expectations by cutting its Official Cash Rate by 50 basis points to 4.75% and flagged the possibility of further interest rate cuts early next year if the global economy is worse than…
Heikensten: Econ conditions abroad worse than seen
SWEDEN - Economic conditions in the U.S. and Europe may be worse than previously predicted, Sveriges Riksbank's first deputy governor, Lars Heikensten, said Wednesday.
IMF: South Korea's upgrade
SOUTH KOREA- Ajai Chopra, the IMF's assistant director for Asia and the Pacific said the sovereign rating upgrade for South Korea by Standard & Poor's Corp. Tuesday was "entirely deserved".
Japan's economy set for biggest decline in 20 year
JAPAN - The Japanese economy is set for its most dramatic decline in at least 20 years, the government has admitted.
EU: G10 ctrl bks see 2002 econ recovery
SWITZERLAND - "Uncertainty," according to Bank of England Governor Eddie George, was the most frequently used word Monday by the central bank heads of the Group of 10 nations in discussing the prospects for the world economy.
SNB sold 7.7 tons gold in 10-day period to 9 Nov
SWITZERLAND - The Swiss National Bank said Monday its gold reserves fell CHF116 million to CHF33.79 billion in the 10-day reporting period to 9 November.
ECB's Padoa Schioppa sees no more cuts now
ITALY - Tommaso Padoa Schioppa, a member of the European Central Bank's council, said he doesn't see the euro-zone central bank cutting interest rates again in the foreseeable future, according to an interview with La Repubblica Saturday.
DNB cool on its own watchdog plans
NETHERLANDS - Dutch central bank DNB president Nout Wellink is less than enthusiastic about his own controversial plan for new watchdogs for the financial sector, according to an internal document leaked to Het Financieele Dagblad.
Argentine ctrl bk moves to fight drop in deposits
ARGENTINA - Argentina's central bank will order local banks to repatriate $1.9 billion of the loan loss reserve funds they have deposited in a Deutschebank account in New York City to inject more funds into the nation's money markets and keep interest…
Ten nations on track to join EU
EUROPE - European Commission officials yesterday said they saw no reason why up to 10 countries could not be ready to join the European Union by 2004.
Monetary policy report from the RBA
REPORT - Statement on Monetary Policy from the Reserve Bank of Australia, November 2001.
IMF and World Bank joint statement
STATEMENT - IMF and World Bank Heads Call for a New Round of Multilateral Trade Negotiations at Doha, Koehler and Wolfensohn urge Ministers to put developing countries at the center of the agenda.
Central bank appointment gets warm welcome
EGYPT - Cairo bankers have reacted positively to the appointment of Mahmoud Abul-Ayoun to the post of governor of the Central Bank of Egypt.