News
ECB Press Conference - Introductory Statement
PRESS CONFERENCE - Willem F. Duisenberg, President of the European Central Bank, Christian Noyer, Vice-President of the European Central Bank, Frankfurt, 8 November. With a transcript of the questions and answers.
Federal Open Market Committee - Minutes
MINUTES - Minutes of the 2 October meeting. A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washington, D.C., on Tuesday 2 October 2001, at 9:00 a.m.
Bleak outlook for Asian growth
ASIA - The era of the "Asian Tigers" is over, at least for the next 12 months, as economic growth in Asia slows sharply in the wake of 11 September.
Security hole in cash machines
UK - A serious weakness has been discovered in the methods used by banks to protect the personal identification number (Pin) that lets you get money from a cash machine.
Blow to Argentina debt plan
ARGENTINA - The prospects of Argentina defaulting on its overseas debt have grown after opposition-led provinces voted against a new austerity plan.
Inflation no longer a threat to eurozone
EUROPE - Wim Duisenberg, president of the European Central Bank, said yesterday, Thursday, the bank's decision to cut interest rates by 50 basis points to 3.25 per cent reflected both a need to prop up battered confidence, and the bank's belief that…
EU bid to shake up securities markets delayed
EUROPE - The European Union's bid to speed regulatory reform in securities markets faces new delays after the European parliament yesterday called on its constitutional affairs committee to produce a report on how the controversial plans affect member of…
FOMC: 'Mild and short contraction' of US econ seen
US - Federal Reserve policymakers expect a "relatively mild and short" U.S. recession, but they're inclined to keep cutting interest rates to banish the prospect of a nastier downturn, minutes of their recent policy meetings suggest.
National bank reserves grew in Kazakhstan
KAZAKHSTAN - Net international reserves of the National Bank of Kazakhstan grew by 6 percent or $146.8 million in October.
RBI to get real time gross settlement system, RTGS
INDIA - Logica India, the Indian subsidiary of UK-based computer services group Logica Plc, on Tuesday said it had been awarded a $16 million contract from the Reserve Bank of India (RBI) to implement a national real time gross settlement system (RTGS).
ECB gold reserves in 2 Nov week
GERMANY - The Eurosystem's net reserves in gold and gold receivables declined by EUR1 million to EUR128.2 billion in the week ended 2 November, the European Central Bank said Tuesday.
Fraga wants to revoke 500 Finance System norms
BRAZIL - Central Bank President Arminio Fraga said Tuesday that he plans to revoke at least 500 of the approximately 2,000 norms in the National Finance System (SFN) - rules to which Brazilian financial institutions are subject.
Argentina inches closer to debt deal
ARGENTINA - Argentina has edged closer to settling a debt swap deal to save it from defaulting on its international borrowings and effectively going bankrupt.
IMF sees continued gloom for Germany
GERMANY - The German economy should recover from its slowdown in the first half of next year, but business confidence is frail and the government has little room to pursue fiscal expansion, the International Monetary Fund said yesterday, Wednesday.
News release from the Bank of England
NEWS RELEASE - Bank Of England Reduces Interest Rates by 0.50% to 4.0%, 8 November.
Bank of England cuts rates by 0.5%
UK - The Bank of England on Thursday cut Britain's interest rates half a point, taking its key repo rate to a 37-year low of 4.0 percent, in a bid to insulate the country from the threat of global recession.
ECB Press Release - Monetary policy decisions
PRESS RELEASE - European Central Bank press release on interest rate decisions, 8 November.
ECB lowers interest rates to 3.25%
EUROPE - The European Central Bank (ECB) has slashed its key interest rate by half a percentage point to 3.25%, its fourth cut this year and bigger than many economists had dared to hope.
Canada's Dodge - Bank still has room to manoeuvre
CANADA - Bank of Canada Governor David Dodge said Wednesday that a high degree of uncertainty continues to hang over the Canadian economy, which is likely to remain weak for much of the next year.
ECB decide on new rate setting schedule for future
EUROPE - Currency market participants welcomed Thursday the European Central Bank's decision to start limiting its interest rate decisions to once a month.
Martin brushes off claims of central bank conflict
CANADA - Finance Minister Paul Martin brushed away suggestions yesterday that he was trying to undermine the independence of the Bank of Canada with comments this week about the bank needing to take action.
Litas banknotes well protected - experts
LITHUANIA - The Lithuanian national currency banknotes have more security features than the new E.U. currency, the euro, the central Bank of Lithuania said following visit by experts from the National Bank of Belgium.
RBI nominee directors to handle risk management
INDIA - Following adverse criticism in the Lok Sabha of the role of RBI and government directors on bank boards, the ministry of finance has decided to concentrate on risk management skills of nominee directors of Reserve Bank of India and the government…
Latvian central banker Repse cleared of corruption
LATVIA - While finding no anti-corruption violations in actions by Bank of Latvia president in announcing one-time collection of donations as royalties he would receive for heading a new right-wing party, the Prosecutor General's Office though warned him…