News
Eurozone economy to grow 2.5% at year-end
SPAIN - The rate of economic recovery in the eurozone is unclear but the economy should probably be growing at about 2.5 per cent at the end of this year, European Central Bank (ECB) vice-president Christian Noyer said on Sunday.
Bank governor George dismisses 'double-dip' chance
UK - The world's leading economies are not expected to fall prey to the much-dreaded "double-dip downturn", Sir Edward George, governor of the Bank of England, said yesterday.
Statement by Governor for the Republic of China
PRESS RELEASE - Statement by the Governor for the Republic of China at the 35th Annual Meeting of the Asian Development Bank, Fai-nan Perng, 11 May.
Brazil's central bank calms inflation fears
BRAZIL - Arminio Fraga, the president of the Brazilian central bank, on Friday sought to alleviate concern over accelerating inflation after the consumer price index posted a 0.8 per cent increase in April. This brings the increase in consumer prices…
Syrian premier meets Jordanian banking delegation
SYRIA - Premier Dr Muhammad Mustafa Miro on Sunday 12 May received the governor of the Jordanian Central Bank Mr Ummaya Tukan, the Director of the Jordanian Housing Bank Mr Zuhair al-Khuri, the General Director of the Jordanian Housing Bank for Financing…
Taiwan c bank chief protests name change at ADB
CHINA - Central Bank of China (CBC) Governor Perng Fai-nan on Saturday protested Taiwan's name change in the Asian Development Bank (ADB).
Iraq, Sudan c banks sign cooperation agreement
IRAQ - Iraq and Sudan today signed a banking cooperation agreement. Central Bank Governor Dr Isam Rashid Huwaysh signed the agreement for Iraq, while Bank of Sudan Governor Dr Sabir Muhammad Hasan signed it for Sudan.
Argentina fears new bank closures
ARGENTINA - Argentina's economy minister moved Sunday to soothe fears that the country's banks were too unstable to open, saying "the financial system is working solidly."
Santomero - US growth likely 'bit slower' in Q2
US - Economic growth in the second quarter is likely to be a "bit slower" than the 5.8 pct growth rate in the January-March quarter, said Anthony Santomero, the president of the Federal Reserve Bank of Philadelphia.
Minutes of the Federal Open Market Committee
MINUTES - The Federal Reserve Board on Thursday released the minutes of its Federal Open Market Committee Meeting of 19 March 2002, released 9 May.
Federal Reserve Board Press Release, 9 May
PRESS RELEASE - Mail processed in a secure facility outside the Federal Reserve Board buildings has tested positive for traces of anthrax DNA.
BIS Press Release
PRESS RELEASE - International Association of Deposit Insurers to locate new secretariat in Basel, 8 May.
Bush pays tribute to US economist Milton Friedman
US - President Bush Thursday paid tribute to U.S. economist Milton Friedman. The Nobel-Prize-winner's free-market approach is central to the Bush administration's trade policy.
Ferguson - global economy robust on anti-terrorism
US - The global economy won't feel any impact from the increased cost of security and disaster-planning needed in the wake of the September 11 terrorist attacks, said Roger Ferguson, vice chairman of the Federal Reserve board.
Romanian gov't adopts money-laundering regulations
ROMANIA - The Romanian government approved the organization and functioning regulations of the National Office for Preventing and Combating Money-Laundering (ONPCSB), whose activity is structured on two operative directorates - a computerized directorate…
UK company among 3 bidders for Nigerian mint
UK - De La Rue PLC is among three foreign companies bidding for a controlling stake in Nigeria's state-run mint, the Nigerian Security Printing and Minting Co, officials said.
Brazil's Fraga says rates may be cut further
BRAZIL - Central bank chairman Arminio Fraga said he has indications that demand is falling and GDP growth is weakening in Brazil, which would justify new interest rate cuts.
UAE free of organised suspect cash activities
UAE - The UAE had detected minor money laundering operations but it is free of organised suspect cash activities as a result of direct surveillance by monetary authorities and cooperation by financial institutions, a judicial official said yesterday.
Dlamini-Zuma confirms launch of African Union
SOUTH AFRICA - The July launch in Durban of the African Union (AU) will go ahead despite contrary advice obtained from a panel of some of the continent's "eminent people", Foreign Affairs Minister Nkosazana Dlamini-Zuma said yesterday. The AU Act…
Greenspan urges banks to rely on risk management
US - Federal Reserve Chairman Alan Greenspan said Friday that commercial banks and banking regulators need to rely more on the emerging field of risk management to control loan defaults during periods of economic weakness.
Bank of England News Release
NEWS RELEASE - Bank of England Maintains Interest Rates at 4.0%, 9 May.
UK interest rates kept on hold
UK - The Bank of England's monetary policy committee on Thursday voted to leave interest rates unchanged at 4 per cent, in a decision which underlined the fragility of the UK economic recovery.
Duisenberg 'stands in' for the euro at awards
GERMANY - An awards ceremony, whose previous winners include Tony Blair and Helmut Kohl, gave Wim Duisenberg a chance to prove he is not just a self-effacing, mop-haired central banker, said the FT on Thursday.
UAE central bank to sponsor global hawala meeting
UAE - The UAE Central Bank yesterday announced it is sponsoring an International Conference on Hawala to be held in Abu Dhabi on 15 and 16 May.