News
Looters strip Baghdad's banks of cash
Iraq's battered central bank has been ransacked many times by mobs of looters who hunt for any banknote not incinerated, reported Middle East Online.
BoJ can increase bank shareholdings
The Bank of Japan could increase its purchase of shares held by Japanese banks as part of its drive to protect them from falling stock prices, says BOJ governor Toshihiko Fukui as reported by Associated Press as
ECB officials give conflicting signals on rate cut
Speaking separately this week two ECB Governing Council members gave conflicting views on what a fall in inflation below the ECB's 2 per cent target would mean for interest rates, according to Bloomberg report.
Perng says SARS unlikely to harm NT dollar
The SARS outbreak is unlikely to have a significant impact on Taiwan's economy. That was the view expressed by Central Bank of China governor Perng Fai-nan to Taiwan's finance committee on Thursday 17 April, reports the Central News Agency.
New York Fed's McDonough will attend May 6 FOMC
William McDonough will attend the Federal Reserve's May 6 meeting of the FOMC before taking up his position at the SEC, the Fed said on Wednesday 16 April, Reuters reports.
Report questions virtues of inflation targeting
A study published by the National Bureau of Economic Research suggests that adopting an inflation target has no effect on a country's economic performance, according to a report by Dow Jones.
Russian Fin Min: Inflation target will be hit
The Russian finance ministry has said it expects inflation to remain under its 12 per cent target for 2003, according to the Moscow Times.
Estonian c bank says gov't should balance budget
A report on Estonian Radio said that the president of the Baltic nation's central bank, Vahur Kraft, has told the ruling coalition that the budget must be balanced or investor trust will be lost.
Slovak c bank's first quarter loss near prediction
The National Bank of Slovakia reported on Monday that it made a loss for the first quarter of 2003, acording to a report from TASR. The loss was mainly due to fluctuations in the koruna currency's rate.
Bank of Russia changes exchange rate mechanism
Russia's central bank has changed the procedure by which it establishes the rouble exchange rate with the dollar. Pravda reports that the bank will now use the average-weighted rate of the US dollar at the Unified Trading Session (UTS) of the inter-bank…
Fed's McDonough to head new SEC accountancy board
US regulator the Securities and Exchange Commission has voted unanimously to appoint Federal Reserve Bank of New York president William McDonough as chairman of the accounting oversight board, according to a report by Associated Press.
LDP's Yamasaki says expects more steps from BOJ
A senior Japanese politician said on Wednesday 16 April he had confidence that the Bank of Japan would adopt new measures to boost Japan's ailing economy, Reuters reports.
Chilean Senate approves new Central Bank director
Chile's senate has approved the appointment of Vittorio Corbo to the board of directors of the Central Bank of Chile, according to a Reuters report. President Ricardo Lagos is widely expected to name him as the new central bank chief shortly.
Mexico's central bank net reserves, assets rise
The Bank of Mexico's reserves have risen just over $0.15 billion since the start of April, the bank said on Tuesday 15 April, according to Reuters.
Argentine peso dips amid monetary expansion talk
The Argentine peso has suffered amid slack demand for the U.S. currency as local investors have taken advantage of high interest rates of up to 25 percent offered on deposits, according to a report from Reuters.
Union reps at Bank of France call for demo
French unions are calling for Bank of France staff to demonstrate against the restructuring of the Bank's network of regional branches Le Figaro said.
Venezuela central bank cuts rate to 36 pct
Venezuela's central bank cut interest rates to 36 percent as tight currency controls and price curbs to shore up international reserves continue.
Citigroup's Fischer mum on New York Fed post
After speculation that former IMF official and Citigroup Vice Chairman Stanley Fischer may be set to take over at the New York Fed, Monday brought silence from Fischer, Reuters reported.
UK Treasury suggest positive Bank inflation report
The Treasury appeared to suggest on Monday that the Bank of England's inflation report, due early next month, could narrow the gap between the Treasury's inflation forecast and the Bank's, the FT reported.
Central Bank of Barbados starts 2 day conference
The central bank of Barbados is holding a conference on corporate governance in the financial sector, the Jamaica Observer reported. The Bank said the conference was prompted by the "recent international corporate upheavals".
Brazil central bank head unfazed by currency gains
Henrique Meirelles, head of the Banco Do Brasil, has said the recent rise in the reals value would not hurt trade and that it was only a short time ago that people were worried about a collapse in the exchange rate, Reuters reported.
Bank of Canada raises interest rates
Bank of Canada raises overnight rate target by 1/4 percentage pointto 3 1/4 per cent, 15 April.
China cuts red tape for gold industry
China's central bank will no longer have to approve gold manufacturing, processing and trading in the country Eastday reported.
Polish central bank complains about gov't pressure
A report from PAP news agency quotes Poland's central bank chief as describing government pressure to cut interest rates as 'unprecedented'.