News
US interest rates cut again to 1.75%
US - The US Federal Reserve has cut interest rates by a quarter of a percentage point to 1.75%.
Federal Reserve Press Release - Transparency issue
PRESS RELEASE - Federal Reserve Press Release, 11 December, 2001.
Parliament agrees to Sramko as nominee for c bank
SLOVAKIA - The Slovak Parliament voted on Tuesday to elect Ivan Sramko as Vice Governor of the central bank NBS.
Yam to receive degree of Doctor of Business
HONG KONG - Joseph Yam Chi-kwong, Chief Executive of the Hong Kong Monetary Authority, will receive the degree of Doctor of Business Administration, honoris causa.
New York Fed to reopen for public tours in January
US - The Federal Reserve Bank of New York, which has suspended tours since 11 September, will reopen to visitors in January.
SNB President - Strong Swiss Franc has advantages
SWITZERLAND - Swiss National Bank President Jean-Pierre Roth is convinced a strong Swiss franc benefits the country's economy, he told weekly magazine Facts in an interview to be published Thursday.
US Fed issues revisions to payments system risk
US - The Federal Reserve Board on Tuesday issued revisions to its policy statement on payments system risk that it said "should alleviate liquidity pressures" that were identified during a broad review of the policy.
Out-of-step BoJ board member helps constrain yen
JAPAN - A Bank of Japan policy board member suggested yesterday that the central bank should acquire at least Y200bn ( £1.1bn) of foreign bonds every month in an attempt to fulfil its legal duty to stabilise prices.
Prosecutors file charges against ex-Thai c bank
THAILAND - Prosecutors filed charges Wednesday against a former central bank chief for losses of 185.9 billion baht ($4.2 billion) in defending the baht against massive speculative trading in 1997 that plunged the country into financial crisis.
Former US official proposes solvency crisis fund
ARGENTINA - While Argentina's perilous brush with bankruptcy has sparked a renewed debate on the idea of officially-sanctioned debt standstills, a former top official of the Federal Reserve and the Treasury Department on Monday proposed another way of…
ECB Noyer - Wise for China to boost euro forex
CHINA - European central bank Vice President Christian Noyer said Tuesday it was "a very wise decision" for Chinese authorities to choose to boost the amount of euros in the country's foreign exchange holdings.
Bank Negara Act change to ensure smooth operation
MALAYSIA - Amendments to the Bank Negara Malaysia (BNM) Act will ensure smooth operation in handling the BNM's credit bureau and strengthen the country's financial system.
Shiokawa - Need to consider money printing issue
JAPAN - Japanese Finance Minister Masajuro Shiokawa said Tuesday the government needs to examine various aspects of the idea of printing more money to stem deflation.
Hungary nat bank to amend reserve regulations
HUNGARY - The monetary council of the National Bank of Hungary (NBH) decided on Monday to amend the mandatory reserve regime, effective 1 February 2002, the Bank said in a statement.
UK inflation falls to record low
UK - UK inflation fell more steeply than expected last month, paving the way for further interest rate cuts to stimulate the economy.
Two new Fed governors will attend policy meeting
US - Two new governors will take part in the Federal Reserve's interest-rate deliberations tomorrow.
New Kazakh dep prem gets seat on Nat Bank board
KAZAKHSTAN - The new deputy prime minister, Karim Masimov, has been appointed the government's representative on the board of Kazakhstan's National Bank.
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.