News
Argentine markets edge up, but worried about IMF
ARGENTINA - Argentine stocks inched higher, while the peso firmed slightly on Tuesday as the Central Bank sold dollars into the market to offset investor nervousness about a stalemate in aid talks with the IMF.
Takenaka admits Japan's debt-deflation spiral
JAPAN - Japan's economic and financial services 'super-minister', Heizo Takenaka, formally acknowledged Tuesday that the nation's economy is caught in a 'vicious circle' of debt and deflation, and that it will be difficult to get the government's own…
IADB chief praises Argentine crisis strategy
ARGENTINA - Inter-American Development Bank (IADB) President Enrique Iglesias on Tuesday praised Argentina's strategy to try and end its worst ever economic crisis, even though it has caused a standoff between the government and the IMF.
Latvia nominate ex c banker as next prime minister
LATVIA - Einars Repse, a former head of the Central Bank who campaigned against corruption, was nominated Tuesday to be the next prime minister of the former Soviet republic.
Russian gov't to cancel currency regulations 2007
RUSSIA - The Russian government plans to completely cancel currency regulations starting in 2007, the Vedomosti daily business newspaper reported on Tuesday, quoting First Deputy Finance Minister Aleksey Ulyukayev.
Norges Bank Press Release
PRESS RELEASE - The payment systems have become more efficient, 6 November.
South African Reserve Bank Press Release
PRESS RELEASE - Governor appointed Honorary Colonel, 31 October.
ECB Press Release
PRESS RELEASE - Publication of the European Court of Auditors' report on the efficiency of the ECB's management for the financial year 2001 and the ECB's reply, 30 October 2002.
Basel Committee QIS 3 Frequently Asked Questions
REPORT - Supervisors and banks have raised the following issues since the distribution of the Basel Committee's Quantitative Impact Study 3 (QIS 3), 30 October.
Minutes of Japan's Monetary Policy Meeting
MINUTES - Minutes of the Bank of Japan's Monetary Policy Meeting on 17 and 18 September 2002, released 5 November. The Policy Board noted Japan's economy has almost stabilised as a whole thanks to an export increase and the associated expansion of…
Kuwait market ready for more funds - central bank
KUWAIT - The Governor of Central Bank of Kuwait Sheikh Salem Abdulaziz Al-Sabah has said that the Kuwaiti market is developing considerably especially in the investment funds sector in the past two years.
Bank of Canada won't tip its hand
CANADA - A deputy governor of the Bank of Canada answered its critics on Monday, telling a blue-chip crowd that it's not the central bank's job to fine-tune the markets' expectations about future interest rate moves.
Tokyo shares surge as Asia awaits Fed
JAPAN - Japanese shares jumped nearly three percent Tuesday, while most other Asian stock markets paused to pocket profits, as investors looked forward to an expected cut in U.S. interest rates.
IFSB appoints Rifaat as first secretary-general
MALAYSIA - The newly established Islamic Financial Services Board (IFSB) has appointed Prof Rifaat Ahmed Abdel Karim as its first secretary-general for a three-year term.
Panel to discuss central bank of Israel's wages
ISRAEL - Knesset State Control Committee Chairman MK Ran Cohen (Meretz) has called an extraordinary session for next week to discuss the Bank of Israel's wage policy.
Latvia: New Era party announces coalition deal
LATVIA - Latvia's election-leading New Era party, headed by former central bank chief Einars Repse, said Monday that it has negotiated a four-party center-right coalition deal to lead the country into the European Union and implement Western-style…
Brazil's Fraga urges Lula reforms to help debt
BRAZIL - Brazil's Central Bank President Arminio Fraga on Monday urged President-elect Luiz Inacio Lula da Silva to press ahead with reforms that would assuage investors and cut the cost of servicing Brazil's $260 billion mountain of debt.
IMF upbeat on Ukrainian monetary policy
UKRAINE - The International Monetary Fund has approved the monetary policy of the National Bank of Ukraine because it enabled Ukraine to maintain stable prices and keep the low inflation rate, the head of the IMF mission in Ukraine, Emanuel van der…
Indian banks to take up forward trading in gold
INDIA - In what is seen as a possible first step in opening up the Indian bullion market, all scheduled commercial banks authorised to deal in gold have been permitted to enter into forward contracts with their constituents (exporters of gold products,…
Bank of England News Release
NEWS RELEASE - Bank Agency to be based in Exeter, 29 October.
Minutes from the Sveriges Riksbank Board meeting
MINUTES - Minutes of the Sveriges Riksbank Executive Board meeting on 16 October, published 30 October. Although the Executive Board voted to maintain the repo rate at 4.25 per cent the minutes reveal Deputy Governor Kristina Persson entered a…
China to promote small loans to rural households
CHINA - A spokesman for the People's Bank of China (PBOC) said Monday that the central bank will adopt more effective measures to guide and promote rural credit cooperatives to grant small credit loans to rural households.
Korea's foreign ex reserves over $116 billion
KOREA - The Bank of Korea said Saturday the nation's foreign exchange reserves as of the end of October amounted to $116.9 billion, up $305 million from the end of the preceding month.
Mexico holds firm on inflation targets
MEXICO - Mexico's Central Bank president held firm on the country's inflation targets for this year and next, even as expectations of higher inflation and diminished growth mount.