News
Bank of England cuts interest rates, quarter point
UK - The Bank of England has cut UK interest rates by a further quarter point as it tries to stem the economic turbulence triggered by last month's terror attacks.
Bank of England News Release
NEWS RELEASE - Official News Release from the Bank of England on interest rate decision, 4 October.
RBNZ directors - Breach of inflation target was OK
NEW ZEALAND - The Reserve Bank of New Zealand's breach of its official inflation target through much of the year ending 30 June, isn't a matter for concern, the central bank's non-executive directors said in its annual report issued Thursday 4 October.
Banks fail on internet targets
UK - Banks have failed to meet targets for cost savings from internet banking and almost half believe the business case for setting up web services may not be viable.
Brussels seek breakthrough on financial regulation
BELGIUM - The European Commission will try to break a deadlock today in negotiations on the introduction of tough measures against money laundering, which have so far been resisted by the European parliament.
Hayami: Financial systems more stable than 1998
JAPAN - Bank of Japan Governor Masaru Hayami said Thursday 4 October that Japan's financial system is much more stable than it was in 1998, when the nation came to the brink of a full-blown financial crisis.
Shiokawa: Want BOJ to keep at least Y8T reserves
JAPAN - Japanese Finance Minister Masajuro Shiokawa said Wednesday that he won't propose the Group of Seven monetary authorities take joint action against the weak dollar at their meeting in Washington Saturday.
Japanese snap up foreign bonds despite attacks
JAPAN - Japanese investors have been buying a massive amount of foreign bonds in recent weeks, making a mockery of the view they were busily repatriating funds ahead of half-year bookclosings, data showed on Thursday 4 October.
Banks need no RBI nod for online debit cards
INDIA - Banks will not be required to seek the approval from the Reserve Bank of India (RBI) for introducing online debit cards, where straight-through-processing is done.
Pakistan buying dollars to bolster reserves
PAKISTAN - Taking advantage of the sharp drop in the U.S. dollar against the rupee, Pakistan's central bank has been buying the U.S. unit from the interbank market to bolster its foreign exchange reserves, a source said on Wednesday.
Russia c bank to sell $50M to non-residents today
RUSSIA - Today, 4 October, the Russian Central Bank will conduct an auction for non-residents with S-accounts in Russia.
2.5% - US Interest rates at lowest since 1962
US - The US central bank, the Federal Reserve, has cut interest rate for the ninth time this year, by half a percentage point to 2.5%.
Federal Reserve - Press Release
PRESS RELEASE - Federal Open Market Committee decision on interest rates, 2 October.
Reserve Bank of Australia - Press Release
PRESS RELEASE - Monetary policy decision, 3 October.
Australia slashes rates to a 29-year low of 4.5%
AUSTRALIA - Australia's central bank cut official interest rates on Wednesday 3 October by a quarter of a percentage point to a 29-year low of 4.5 percent in a bid to bolster the economy in an international downturn.
Japan moves to step up bank client checks
JAPAN - Japanese financial authorities are set to propose legislation that will force banks to strengthen background checks on customers in the wake of the 11 September terrorist attacks on the US.
PM Blair gives strong endorsement of euro entry
UK - British Prime Minister Tony Blair Tuesday gave his strongest endorsement yet of British membership in the European single currency.
Analysis: The Fed's next move
US - The latest round of cuts by the Federal Reserve leaves many wondering what else the nation's central bank can do to revive the listless US economy.
Moves to curb cash laundering at bureaux de change
UK - Britain is the last European Union country not to regulate bureaux de change, which UK ministers believe act as a conduit for dirty money.
Bank of Finland plan to nominate new board members
FRANCE - Bank of Finland plans to nominate two new members for its board of directors.
Bahrain c.bank says no trace of suspects' assets
BAHRAIN - Bahrain's central bank said on Wednesday 3 October no assets of 27 groups and individuals suspected of having financial links to the 11 September attacks on the United States have so far been found in the island state.
Bank of France printing staff continue strike
FRANCE - Employees belonging to the CGT union at the Bank of France's printing division have extended until today, 3 October, a strike that has been observed since 12 September.
India RBI to release credit policy on 22 October
INDIA - The Reserve Bank of India said Wednesday 3 October that it will publish its bi-annual monetary and credit policy for the current financial year 22 October.
Greenspan urges teachers, students to use Web site
UNITED STATES - If Federal Reserve Chairman Alan Greenspan has his way, the nation's school children will soon be adding monetary policy to their regular courses on reading, writing and arithmetic.