News
Ten firms submit material for audit tender, Russia
RUSSIA - Ten audit firms have submitted additional materials for participation in a tender to perform an annual audit on the Central Bank of Russia for 2001, deputy head of the State Duma budgetary committee, Ashot Yegiazaryan, told Interfax.
Federal Reserve Board Press Release
PRESS RELEASE - "The Federal Reserve Board on Friday announced it is extending the deadline for public comment on the potential longer-term direction of the Board's policy on payments system risk. Comment is requested by November 16, 2001."
ECB Press Release - Monetary policy decisions
ECB PRESS RELEASE - At today's meeting the Governing Council of the ECB decided that the minimum bid rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 3.75%,…
Euro zone rates kept on hold
EUROPE - The European Central Bank (ECB) has kept eurozone interest rates on hold.
Japan's finances questioned
JAPAN - Japan's ability to repay its sovereign debts has been questioned by a leading international credit rating agency.
Pakistan wins IMF cash
PAKISTAN - The International Monetary Fund has approved a $135m cash injection into Pakistan, in a further sign of the country's strengthened relations with Western states.
IMF News Brief - Loan to Pakistan
NEWS BRIEF - IMF completes last review under Pakistan's stand-by arrangement, approves US$135 million disbursement.
Offshore banks warned over controls
UK - Offshore financial centres, which include the Channel Islands and the Isle of Man, face a "bleak future" unless they improve anti-money laundering controls in the wake of the terrorist attacks in the US, Britain's main financial regulator warned…
Swiss central bank to sell 283 tonnes of gold
SWITZERLAND - Swiss central bank Schweizerische Nationalbank (SNB) has announced that it plans to sell a further 283 tonnes of gold by end September 2002.
Russia's Geraschenko to step down in a year's time
RUSSIA - Russian financiers were in lively discussion of the probable resignation of Central Bank Chairman Viktor Geraschenko. Until now, Geraschenko always smiled when asked to confirm or deny rumors concerning his impending resignation. On 20 September…
IMF's Koehler to visit Russia 9-12 Oct, Official
RUSSIA - International Monetary Fund Managing Director Horst Koehler will visit Russia 9-12 October and an IMF mission will spend a week in Russia starting 10 October, a Russian official said Thursday 27 September.
Bank of Spain maintains confidence in the economy
SPAIN - Director of the Bank of Spain's research department, Jose Luis Malo de Molina said on 25 September that the US economy was sufficiently strong to resist the effect of the attacks and that any downturn would only be temporary.
RBNZ appoints new forecasting manager
NEW ZEALAND - Bernard Hodgetts, who occupied the post of chief economist, is leaving the ANZ Banking Group (NZ) Ltd to take up a role at the Reserve Bank of New Zealand.
Bank of Japan pumps more money into system
JAPAN - The Japanese central bank, aiming to shore up confidence in the nation's financial markets ahead of a key accounting deadline this week, continues to pump vast amounts of cash into the economy.
IMF may produce interim WEO on impact of US attack
REPORT - Ken Rogoff, chief economist of the IMF said today that his Research Department may well produce an interim World Economic Outlook report to consider some of the quantitative implications of the terrorist attacks in New York.
IMF warns on global economy
IMF REPORT - The International Monetary Fund has forecast a sharper slowdown in the world economy, following the terrorist attacks in the United States.
Europe faces economic slowdown
The International Monetary Fund (IMF) has warned that Europe will find it difficult to avoid a sharp economic slowdown, as it is hit by the tech sector collapse, weak consumer demand and the aftermath of the terrorist attacks in the USA.
Japan's slowdown to hit Asia
The International Monetary Fund (IMF) forecast a sombre short-term outlook for the Japanese economy, with significant implications for the rest of East Asia.
US economy in freefall
The US economy, which makes up one quarter of world economic output, is slowing sharply, and bringing down growth throughout the rest of the world.
Bundesbank chief backs tighter scrutiny
Germany's Bundesbank put its weight behind Berlin's efforts to combat money laundering and tighten up scrutiny of potential terrorist accounts on Tuesday, in spite of possible infringements of bank secrecy.
Price and exports falls hit Africa
Economic growth in Africa is projected to reach 4% this year, according to a report by the International Monetary Fund (IMF).
Tokyo seeks US support to curb yen rise
Senior Japanese officials yesterday hinted that Tokyo was stepping up its efforts to win tacit US support for measures to prevent the yen from strengthening in the aftermath of last week's terrorist attacks in the US.
Watchdog rules credit card retail fees excessive
Fees paid by retailers to credit card companies are "excessive" and anti-competitive, the competition watchdog said in a provisional ruling yesterday.
The 'Zimbabwe effect' takes toll on currency
The 'Zimbabwe effect' takes toll on currency - Central bank governor Linah Mohohlo says Botswana's profile has been rocked thanks to its proximity to political turmoil.