News
EC concern over independence of Czech c bank
CZECH REPUBLIC - The European Commission (EC) is worried about continued threats to the independence of the Czech National Bank (CNB), including the independence of the bank's board members, according to this year's annual assessment report.
Repse hands in resignation to go into politics
LATVIA - The president of the Bank of Latvia, Einars Repse, handed in a resignation to the Latvian Parliament Speaker Janis Straume 30 November, so that he could draw attention to forming his new would-be political party already named Jaunais Laiks, or…
ECB gold reserves unchanged 30 November
EUROPE - The Eurosystem's net reserves in gold and gold receivables was unchanged at EUR128.23 billion for the week ended 30 November, the European Central Bank said Tuesday.
Swiss SNB sold 8.6 tons gold in 10 days to 30 Nov
SWITZERLAND - The Swiss National Bank said Monday that its gold reserves fell by CHF130 million to CHF33.55 billion in the 10-day reporting period to 30 November 2001.
China's gold mining embraces reshuffle
CHINA - China's gold mining industry plans to form 12 internationally competitive groups by 2005 to meet challenges from the deregulation of the domestic gold market driven by the nation's accession to the World Trade Organization (WTO).
Notice from the Bank of Japan
NOTICE - The Bank of Japan has redesigned its web site, 3 December.
Bank of Japan Monetary Policy Meeting
NEWS RELEASE - Announcement of the Monetary Policy Meeting decisions, 29 November.
Thai bank supports action against ex-chief
THAILAND - Thailand's central bank has apparently endorsed plans to take punitive legal action against Rerngchai Marakanond, the institution's former governor, for exhausting the country's foreign exchange reserves to defend the baht against currency…
Argentina restrict amount of cash bank withdrawals
ARGENTINA - The Argentine government, desperate to stop a hemorrhaging of funds from the banking system, capped cash withdrawals from banks and limited the amount residents may transfer abroad.
Singapore finalising licences for foreign banks
MALAYSIA - Singapore will announce the winners of the Qualifying Full Bank (QFB) and wholesale bank licences in the next few weeks, in a further move to open the domestic financial sector to foreign players, according to a report.
Greenspan says little doubt euro a sound currency
US - A belief that U.S. productivity, or output per worker, will continue to outstrip Europe's accounts for more robust demand for dollars over euros, Federal Reserve Chairman Alan Greenspan said in a speech on Friday.
BOE - Delivery/ payment system
UK - Bank of England Executive Director for Financial Market Operations, Ian Plenderleith, said Thursday the new delivery versus payment system for the settlement of securities trade in the U.K. was a success.
ECB post findings on how rate moves affect economy
GERMANY - Ordinary Europeans may quickly get used to the new euro notes and coins that begin circulating in a few weeks, but it may be years before the European Central Bank fully understands the functioning of the new economy created by the common…
Egyptian central bank cancels import restrictions
EGYPT - The Central Bank of Egypt said Monday it had cancelled import restriction proposals that were designed to protect the declining Egyptian pound and boost the sluggish economy.
Wim to face the music
GERMANY - The temperature is rising in the dispute over whether Wim Duisenberg will step down as president of the European Central Bank.
President appoints new Bank of Finland member
FINLAND - Finnish President Tarja Halonen on Friday appointed a surprise candidate to the Bank of Finland's board after an embarrassed government dropped the nominations of two veteran politicians.
BOJ to cut annual salary for executives by 0.4%
JAPAN - The Bank of Japan (BOJ) said Friday it will cut the annual salary of its executives for this fiscal year by 0.4% from the previous year.
SNB Roth - Franc strength likely to be temporary
AUSTRIA - The president of the Swiss National Bank, Jean-Pierre Roth, said Thursday that he expects the franc's current strength to be temporary, and made it clear that the Swiss monetary policy stance may deviate from that of the European Central Bank.
Morand leaves Chile's central bank
CHILE - After five years at Chile's Central Bank, Felipe Morand will leave as head of studies at the end of the year for a visiting post at Stanford University.
Brazil faces tough task on reform
BRAZIL - Time is running out on the Brazilian government's efforts to garner support for key reforms as President Fernando Henrique Cardoso starts his final year in office.
Thai central bank eases collateral rules
THAILAND - Central Bank rules had been eased to allow financial institutions to use internal appraisal for collateral of small-sized debtors, rather than external independent appraisal firms, Bank of Thailand assistant governor Thirachai…
Father of Latvian currency to resign
LATVIA - The father of Latvia's national currency will resign as head of the central bank on 30 November, but analysts and officials expect him to leave a legacy of stability and a well-run Bank of Latvia.
Egyptian draft law for independent c bank approved
EGYPT - Egypt's cabinet approved Tuesday a draft law to make the Central Bank of Egypt independent from the now-defunct economy ministry, according to a cabinet official.
Banks deal with coin shortage in Australia
AUSTRALIA - Banks in some parts of Australia are experiencing coin shortages. The Reserve Bank of Australia (RBA), which recently implemented a new coin distribution system, blames the shortfall on teething problems with the new system.