News
Monthly reports to increase transparency-Argentina
Argentine banks are now required to submit a monthly report to the central bank outlining their costs, interest rates and other indicators, local press reported.
Fukui says BOJ watching oil price impact
Toshihiko Fukui told a news conference on Tuesday 10 August that the Bank of Japan is closely watching the impact of record high oil prices on the Japanese economy.
Argentina to honour IMF debts
Argentina will honour its multi-billion dollar debts to the IMF to the end of the year despite an impasse in loan negotiations, Cabinet Chief Alberto Fernandez said Monday.
Fed expected to lift US interest rates
The Federal Reserve was expected to raise interest rates on Tuesday 10 August for the second time this year, despite weak US employment growth statistics.
HP and CMA to deliver payment system to Montenegro
HP and CMA Small Systems AB announced on Friday 6 August that they will provide the Central Bank of Montenegro with a new automated inter-banking payment system, supporting Montenegro's economic momentum-building efforts.
Germany's Eichel : no more budget cuts yet
German Finance Minister Hans Eichel said on Sunday 8 August that the economic recovery was not yet firmly established enough for him to impose more budget cuts, and that he would make added savings only when growth was more sustained.
Chinese regulators tackle illegal capital flight
China's financial and securities watchdogs have launched a crackdown on the illegal flight of capital via offshore financing centers such as the British Virgin Islands and Cayman Islands, state press reported.
Reddy says RBI caught unawares on inflation
The Reserve Bank of India governor YV Reddy admitted that the July inflation rate, which touched a three-year high of 7.51% in end-July, was higher than what the monetary policy in May '04 had visualised.
BOT says new rules must apply to all
A senior official at the Bank of Thailand (BOT) said on Monday the central bank would scrutinise the bad-loan situation at other banks and would not change the criteria of the probes.
Belgium may scrap small euro coins
Reports on Thursday said the Belgian government had agreed in principle with banks, business and consumer groups to scrap one and two euro coins.
Romania cuts interest rates 75 points
The Romanian central bank cut key interest rates by 75 basis points Friday to 19.25 percent, the central bank said.
Danmarks Nationalbank re-appointment
Following maternity leave, Pernille Blach Hansen, MP, has been re-elected to the Committee of Directors of Danmarks Nationalbank, and Pia Gjellerup, MP, who replaced Ms. Hansen on the Committee of Directors has withdrawn, Danmarks Nationalbank said in a…
RBNZ appoints Spencer assistant governor
The Reserve Bank of New Zealand announced on 4 August the appointment of Grant Spencer as Assistant Governor/Head of Economics.
PBOC appoints assistants to the governor
The People's Bank of China has appointed three assistants to the governor in what is seen as a final stroke to the planned management overhaul after Zhou Xiaochuan took the helm at the central bank at the end of 2002, the 21st Century Business Herald…
Bangladesh Bank hires modernisation consultant
Bangladesh Bank will hire a consultant on a two-year contract under a central bank strengthening project, funded mostly by World Bank credit, Matamat reported quoting official sources.
Bomb threat forces People's Bank to evacuate HQ
The headquarters of the People's Bank of China was evacuated after a man threatened to blow up the building, a senior official of the central bank said this week, according to AFP.
New South Korean regulator named
Roh Moo-hyun, South Korea's president, named Yoon Jeung-hyun, a director of the Asian Development Bank, as the new head of the country's top financial regulator this week.
Brazil's Meirelles denies fresh allegations
Brazil's central bank chief Henrique Meirelles on Thursday 5 August denied he evaded taxes after new allegations he failed to declare all his assets to Brazilian tax authorities. The leader of the main opposition party called on Mr Meirelles to resign…
Annual meetings of IMF and World Bank, 2-3 October
The Executive Boards of the International Monetary Fund (IMF) and the World Bank Group have decided that the Annual Meetings of the Boards of Governors, along with related meetings and events, will take place in Washington, D.C. on October 2-3, 2004.
RBNZ's Bollard defends rate rises
The governor of New Zealand's central bank, Alan Bollard, has defended lifting interest rates to the highest level in the developed world, citing pervasive capacity constraints and inflation pressures.
Bank of England lifts rates to 4.75%, ECB holds
The Bank of England's Monetary Policy Committee voted to raise the Bank's repo rate by 0.25 percentage points on Thursday 5 August. The Bank said that its decision reflected continued strong growth which is likely to lead to rising inflationary pressures…
Rato promises more effective IMF
Rodrigo Rato on Wednesday 4 August promised changes at the International Monetary Fund that would ensure its assistance to Africa was more effective and debt relief more readily available.
Japan report solid economic recovery, warns on oil
"The economy is recovering at a solid pace as improvements in the corporate sector are extending into the household sector," the Cabinet Office said in a monthly economic report on Thursday 5 August.
OECD says Germany unlikely to meet deficit targets
Germany is unlikely to meet its fiscal deficit targets in 2004 and 2005, and its growth forecast "appears to be on the optimistic side" the OECD said in a report on the German economy.