News
Plenderleith - UK able to weather econ uncertainty
UK - The U.K. is well placed to weather the current world economic slowdown because of its low inflation and the underlying competitive advantages of major economies, Bank of England executive director Ian Plenderleith said Thursday 20 September in a…
Update on the Basel Accord
REPORT - Update on work on the New Basel Capital Accord published September 2001.
Afghanistan currency strengthens
AFGHANISTAN - Money changers in Kabul have reported that the national currency of Afghanistan has strengthened, after losing 10% of its value in the initial aftermath of the attacks on America.
Fed's Poole - Long-run prospects remain bright
US - The prospects for the U.S. economy remain bright despite last week's terrorist attacks, according the president of the Federal Reserve Bank of St. Louis.
Blair warned to make decision about euro entry
UK - Tony Blair has been warned by a close ally that he must stop "dithering" about Britain's place in Europe, and make the political case for joining the euro.
UK growth predicted 'to fall sharply'
UK - A leading think tank has forecast a sharp slowdown in the UK economy next year as a result of the suicide attacks on Washington and New York.
Japan's regulators try to resolve banks' bad loans
JAPAN - In recent years, Japan has repeatedly frustrated foreign investors with its failure to resolve its decade-long bad loan mess.
Basel plan on capital may quiet criticisms
US - Regulators working on a revision of international bank capital rules announced Friday 21 September that they will back off a number of proposals that the industry has criticised.
IMF sees no global recession in 2001 or 2002
US - International Monetary Fund First Deputy Managing Director Anne Krueger said Monday 24 September she does not see a global recession in either 2001 or 2002 despite increased economic uncertainty following the 11 September attacks on the United…
Fed extends deadline on payment risks policy
US - The Federal Reserve Board extended until Nov. 16 the deadline for public comment on the potential longer-term direction of its policy on payments system risk.
Europe's bank confident of quick recovery
EUROPE - The European Central Bank expressed confidence yesterday that the eurozone would recover quickly from an economic slowdown made worse by last week's terrorist attacks in the US.
More gloom for Japan as BoJ downgrades economy
JAPAN - Confidence in Japan's precarious economy was further undermined on Thursday 20 September as the Bank of Japan lowered its assessment of the economy for the fourth time in as many months and official figures showed a 47.2 per cent slide in the…
Safe-haven currencies and bonds gain, stocks slide
EUROPE - Safe-haven currencies and government bonds gained today, Friday 21 September, as jittery investors pulled out of volatile equities, spooked by last week's terrorist attacks in the US.
Financial regulators set for action
US - Following last week's terrorist attack, US financial regulators are set to clamp down.
Very hard to tell when Japan CPI to exceed zero
JAPAN - Bank of Japan Governor Masaru Hayami said today, 21 September, it is very difficult to tell at this time when Japan's consumer price index will begin increasing.
BOJ Yamaguchi - Need vigilance if war mood rises
JAPAN - Bank of Japan Deputy Governor Yutaka Yamaguchi said today, 21 September, the central bank must be vigilant to maintain market stability if the world gets closer to being on a war footing.
Peru's congress elects directors to central bank
PERU - Congress on Thursday 20 September elected its three representatives to the board of directors of the Central Reserve Bank of Peru.
German business confidence falls
GERMANY - German business confidence has fallen again, reflecting uncertainty over the effects of the terror attacks in the US, a key report has said.
Nigeria's central bank raises rates
NIGERIA - The Central Bank of Nigeria has raised the interest rate at which it lends to commercial banks by 2%, bucking the trend of globally coordinated rate cuts in the wake of the attacks on the US.
Fears grow for US economy
UNITED STATES - Fears for the US economy are growing, after the country's central bank revealed that there had been no signs whatsoever of an upturn before the terrorist attacks in New York and Washington.
New deputy governor at Pakistan's central bank
PAKISTAN - Mr. Tawfiq A. Husain today, 20 September, assumed the charge of the office of Deputy Governor, State Bank of Pakistan. He replaces Mr. Mukhtar Nabi Qureshi who retired from the post after completing his term.
Pakistan exchanges stay closed
PAKISTAN - Financial market regulators in Pakistan have announced that the country's three stock exchanges will remain closed until next week.
Japan on its own in supporting the dollar
JAPAN - When Haruhiko Kuroda, Japan's top financial diplomat, was despatched yesterday to the US and Europe, most analysts assumed he would try to drum up support for Japan's efforts to prop up the dollar.
IMF's Kohler sees hope for economic recovery
US - The US economy is expected to show signs of recovery by the end of the year in spite of last week's terrorist attacks and the sharp decline in the airline industry, the International Monetary Fund said yesterday, 19 September.