News
Brazil c bank mulls use of derivatives on forex
BRAZIL - Brazil's central bank is considering the use of derivatives to intervene on the foreign-exchange market as of May 2002, a report said Thursday.
Sweden's Riksbank - Members voted for same rates
SWEDEN - The executive board of Sweden's Riksbank voted unanimously to hold the central bank's key repo interest rate unchanged at its 15 October meeting, according to minutes of the meeting.
ECB Welteke sees euro zone recovery "rather soon"
DENMARK - Bundesbank President Ernst Welteke on Monday voiced cautious optimism that the euro zone economy would recover relatively soon and reiterated recent monetary developments did not pose an inflation risk.
Fed's Smith - Rates dominate credit card pricing
US - The Federal Reserve's director of consumer affairs told a house panel Thursday that interest rates have come to dominate pricing practices for credit cards in recent years, although there is little systematic information about other aspects of card…
Argentina announces debt 'default' plan
ARGENTINA - Argentina's President Fernando de la Rua has announced a restructuring of his country's debt which many analysts regard as a technical default.
Russia's plan to combat money laundering
RUSSIA - The Russian government has announced it plans to set up a financial watchdog as part of a broader effort to cut out financial crime.
Japan Shiokawa/ Hayami: Reiterate need to reflate
JAPAN - Japanese Finance Minister Masajuro Shiokawa told Bank of Japan Governor Masaru Hayami on Friday he wants the BOJ to boost consumer prices back to levels seen before Japan was gripped by deflation.
Bank of Spain criticised by anti-corruption office
SPAIN - The Spanish anti-corruption prosecution office has criticised the Bank of Spain for not helping it in the case affecting the private bank operation BBVA Privanza in the tax haven of Jersey.
Buba declines comment on job cuts report
GERMANY - The Bundesbank on Wednesday declined to comment on a newspaper report it would have to slash 6,000 jobs or around a third of its workforce under a reform aimed at streamlining its structure.
Austrian mint ready to recycle notes and coins
AUSTRIA - Austrian federal mint Muenze Oesterreich, a subsidiary of central bank Oesterreichische Nationalbank (ONB), is preparing to begin melting down schilling coins following the introduction of the euro on 1 January.
NBU appoints Sharov to its int'l relations dept
UKRAINE - The National Bank of Ukraine has appointed Professor Oleksandr Sharov to replace Oleksandr Kireiev as the director of its international relations department, the National Bank of Ukraine's press service has announced.
Canadian dollar at record low
CANADA - Canada's currency fell to record lows against the US dollar on Wednesday, undermined by weak commodity prices, lower interest rates, and worries over the slowing economy.
Russian c bank lose 5 bn rubles due to staff fault
RUSSIA - The General Prosecutor's Office has completed investigation into the criminal case against Deputy Director of the main Moscow territorial division of the Central Bank, Alexander Alekseev.
Sweden's Riksbank to sell Tumba Bruk
SWEDEN - Sweden's central bank, Sveriges Riksbank, has signed a letter of intent with Crane & Co. (CR) of the U.S. regarding the sale of AB Tumba Bruk.
Indonesia's Sabirin convicted in Bank Bali case
INDONESIA - Indonesia's central bank governor Sjahril Sabirin was yesterday, Wednesday, convicted of fraud for his role in the 1999 politically-charged Bank Bali scandal that led to the downfall of former president B J Habibie.
Riksbank's Persson - Sweden should join EMU
SWEDEN - Sweden should enter European Economic and Monetary Union to offset the risks of price swings and better align the economy with its chief export market, the Riksbank's deputy governor, Kristina Persson, said in a speech Tuesday.
Japan toughens stance on Pakistan debt
JAPAN - Japan has said it is unlikely to ease Pakistan's debt burden any further unless the Islamabad government agrees to ban nuclear weapons tests.
Bank of Japan Minutes
MINUTES - Bank of Japan, Minutes of the Monetary Policy Meeting on 18 September.
EU commission likely to propose ECB board reforms
ARTICLE - The impetus for a reform of the European Central Bank's Governing Council to prepare it for EU enlargement will almost certainly have to come from Brussels as agreement among existing ECB members will be problematic, a source close to the issue…
Philippine c bank to scrutinise money changing ops
PHILIPPINES - The Philippine central bank has said that it will closely monitor small money changing operations to plug a possible loophole in the country's new anti-money laundering legislation.
Brazil c bank to produce notes of BRR2, BRR20
BRAZIL - The central bank will launch notes in denominations of two reals and 20 reals ($1=BRR2.761) in December and next year to help save costs, O Estado de S. Paulo reported.
India rates hit lowest level since 1970s
INDIA - Interest rates in India have slid to their lowest rate for almost 30 years after the country's central bank - Reserve Bank of India (RBI) - cut interest rates by half a percentage point.
Charles Goodhart appointed to Bank of England post
NEWS RELEASE - Appointment at The Bank of England.
Minutes from Federal Reserve Board meeting
PRESS RELEASE - The Federal Reserve Board on Friday released the minutes of its discount rate meetings from May 21, 2001 to September 17, 2001.