News
CNB will publish meeting records after six years
CZECH REPUBLIC - The Czech National Bank (CNB) has decided to publish the records of the bank board meetings. The central bank reacts to the interest and specific needs of economic analysts, economics students and historians of the Czech economy or of…
PBOC cracks down misconduct in securities, banking
CHINA - The People's Bank of China (PBOC), the country's central bank, plans to focus its efforts on cracking down on misconduct within the financial markets.
Thai c bank delays new forex reporting rules
THAILAND - The Bank of Thailand won't issue the details of its revised foreign exchange reporting requirements until some time in August, a bank official said 30 July.
Sri Lanka c bank to slowly lift forex restrictions
SRI LANKA - Sri Lanka's central bank said 30 July it will gradually lift several restrictions on the foreign exchange market that were imposed when the rupee was floated in January.
Blair and Brown set euro vote timetable
UK - Tony Blair and Gordon Brown have drawn up a timetable for a euro referendum and are preparing to make a judgment, probably next year, about whether to call one, reports the Financial Times in London, 27 June.
Five months to E-day and euro use still limited
EUROPE - Five months before the introduction of euro notes and coins, the use of the single currency remains limited in almost every country in the 12-nation eurozone, the European Commission warned yesterday, 27 July.
Peru's new finance minister sees changes at c bank
PERU - Incoming Finance Minister Pedro Pablo Kuczynski said on 26 July that former central bank chief Richard Webb will likely become the new president of the Central Reserve Bank of Peru.
Singapore sets new liquidity levels for banks
SINGAPORE - The Monetary Authority of Singapore (MAS) today, 27 July, moved to introduce a new risk-based liquidity supervision system for banks, which will increase their flexibility to manage funds but may not immediately boost profits, analysts said.
Philippine c bank may cut reserve requirements
PHILIPPINES - Philippine Central bank Governor Rafael Buenaventura said today, 27 July, that as the economy picks up later in the year the liquidity reserve requirements of banks would be lowered to channel more funds into the economy.
Russian central bank says monetary base rose
RUSSIA - Monetary base rose to 614.1 billion rubles as of 23 July which is up 0.2% from 613.1 billion rubles as of 16 July, the Central Bank of Russia said in a report on 27 July.
ECB estimates new reserve target at 127 bn euros
GERMANY - The European Central Bank said on 27 June its estimated reserve requirement for the current maintenance period was 127.0 billion euros.
IMF accord enters calculation stage
UNITED STATES - The Brazilian delegation in Washington keeps making ambiguous statements on the possibility of a new accord with the IMF but, according to a source at the IMF, they are "making their calculations".
Costello taps Warwick McKibbin for RBA board
AUSTRALIA - Australian Treasurer Peter Costello said today, 26 July, he appointed academic Warwick McKibbin as a member of the Reserve Bank of Australia's board.
IMF and World Bank to ease debt rules
US - International finance officials are meeting in Washington today, 26 July, to look at ways to overhaul and simplify the strings attached to the loans they make to poor countries.
S.African central bank says launching MPC review
SOUTH AFRICA - South Africa's central bank said today, 26 July, it was launching a review of the operations of its 14-member monetary policy committee (MPC) which would be completed by the end of September 2001.
Fed's Ferguson takes oath for new term
UNITED STATES - After spending two years in political limbo, U.S. Federal Reserve Vice Chairman Roger Ferguson was sworn in today, 26 July, for a second term on the U.S. central bank board, the Fed said.
Chinese c bank formulates financial insolvent law
CHINA - Wu Xiaolin, the vice president of the People's Bank of China, recently declared that foreign financial organisations will come to Chinese markets after China's entry into WTO. It will make the competition in the financial industry more violent…
Australasian union could see trade double - paper
AUSTRALIA - Australia could enjoy a doubling in trade with New Zealand if the two countries embarked on a path of currency union, a discussion paper presented to a Reserve Bank of Australia conference on 24 July concluded.
Bahrain to set up liquidity management centre
BAHRAIN - Bahrain plans to establish a US$50 million liquidity management centre (LMC) to help meet the needs of Islamic banks and financial institutions.
Hungary publishes euro recommendations for banks
HUNGARY - The National Bank of Hungary (MNB) has published recommendations to commercial banks regarding the introduction of euro coins and notes in 12 EU member states as of 1 January 2002.
Italian bank chief backs Berlusconi's policies
ITALY - Antonio Fazio, the governor of the Bank of Italy, on 24 July gave strong backing to the economic policies of Silvio Berlusconi's new centre-right government, blaming the prime minister's predecessors for giving the country a low rate of economic…
Russia to draft new forex control law by October
RUSSIA - The Russian government intends to draft a new, more liberal law on hard currency controls and regulations by October, the Finance Ministry said yesterday, 24 July.
Australasia must be considered in Asia union
AUSTRALIA - Australia and New Zealand should be considered in any move towards monetary union in Asia, a discussion paper at a Reserve Bank of Australia conference in Sydney on 24 July concluded.
S.Africa's Mboweni urges black empowerment support
SOUTH AFRICA - South Africa's central bank governor Tito Mboweni said that although laws could help address the issue of black empowerment in South Africa, public commitment was crucial.