News
Bankers call for strict limits on bailout cash
CANADA - The Bank of England and Bank of Canada have launched a paper arguing for strict limits on International Monetary Fund bailouts for crisis-hit countries.
Russia c bank tightens banks' gold export controls
UK - The Central Bank of Russia published a directive Thursday obliging commercial banks to submit information on their export of gold ingots to the State Customs Committee within 10 days of the metal leaving the country.
ECB Issing sees euro-zone recovery, CPI fall in 02
GERMANY - European Central Bank chief economist Otmar Issing Monday reiterated his expectation that the euro-zone economy will recover next year.
Fed's Ferguson - US economy resilient
US - The U.S. economy appears to be shaking off the devastating impact of the 11 September attacks, says a key member of the U.S. Federal Reserve.
Fed's Santomero - Bank regulation may be a benefit
US - In response to the rhetorical question "does bank regulation help bank customers?" Anthony Santomero, president of the Federal Reserve Bank of Philadelphia, said "Sometimes yes. Sometimes no. It all depends."
Brown's proposals for reform of the IMF
UK - UK finance minister Gordon Brown says the IMF should be reformed and given more scope to pass judgement on member countries' economies.
Bank of Japan under pressure
JAPAN - The Bank of Japan was again under pressure from politicians as its two-day policy meeting began today. Worsening economic figures, despite cuts in the lending rate and injections of liquidity by the bank, have led to calls for inflation targeting.
Euro preparations are "catching up":Duisenberg
Belgium - Wim Duisenberg, the European Central Bank president, speaking at the European Union's Committee of the Regions yesterday said that small and medium-sized enterprises (SMEs) were "rapidly catching up" in time for Euro-day when notes and coins…
Bank of Korea hosts Asian central bank meeting
SOUTH KOREA - The Bank of Korea will today host the "14th Pacific Basin Central Bank Conference" at its headquarters in Seoul the central bank said.
China, HK banks to share retail expertise - HKMA
HONG KONG - Banks from China and Hong Kong can cooperate closely on retail banking business, such as swapping information about the credit standing of borrowers, Hong Kong's de facto central bank chief said last Thursday.
Further fall takes UK headline inflation rate 1.6%
UK - The headline rate of inflation fell further last month, as mortgage lenders passed on the Bank of England's September interest rate cut to customers.
Brazil currency rally unlikely to get c bank boost
BRAZIL - A reversal of Brazil's economic fortunes appears to be in the cards as a feeling that the worst is over quickly spreads across local markets, triggering a strong rally in the embattled real.
ECB gives timetable for non-rate policy meetings
ECB - The ECB from now on will discuss monetary policy and announce rate decisions only once a month, usually at its first meeting in the month.
EU candidates should avoid forex fluctuations
UK - Countries seeking to join the European Union will be well-adviced to avoid excessive exchange rate fluctuations against the euro, European Central Bank Vice President Christian Noyer said Monday.
EU accepts world trade deal
DOHA - A new round of global trade negotiations is moving closer to be launched, as the six-day ministerial meeting in Doha draws to a close.
Hayami: Econ ministers didn't discuss BOJ policy
JAPAN - Bank of Japan Governor Masaru Hayami said Wednesday economic ministers didn't discuss monetary policy at a regular meeting earlier in the day.
Alan Greenspan: The accidental economist
US - Federal Reserve Chairman Alan Greenspan, perhaps the world's best-known and revered economist, on Tuesday said his choice of profession was a matter of chance.
Brazil's cen bank workers to strike on Wed - union
BRAZIL - Workers at Brazil's Central Bank in Brasilia say they plan to go on a 24-hour strike from midnight Tuesday, joining protests that have been interrupting the bank's state branches over the past week.
NZ c bank cuts cash rate 50 basis points to 4.75%
NEW ZEALAND - The Reserve Bank of New Zealand Wednesday met market expectations by cutting its Official Cash Rate by 50 basis points to 4.75% and flagged the possibility of further interest rate cuts early next year if the global economy is worse than…
Heikensten: Econ conditions abroad worse than seen
SWEDEN - Economic conditions in the U.S. and Europe may be worse than previously predicted, Sveriges Riksbank's first deputy governor, Lars Heikensten, said Wednesday.
IMF: South Korea's upgrade
SOUTH KOREA- Ajai Chopra, the IMF's assistant director for Asia and the Pacific said the sovereign rating upgrade for South Korea by Standard & Poor's Corp. Tuesday was "entirely deserved".
Japan's economy set for biggest decline in 20 year
JAPAN - The Japanese economy is set for its most dramatic decline in at least 20 years, the government has admitted.
EU: G10 ctrl bks see 2002 econ recovery
SWITZERLAND - "Uncertainty," according to Bank of England Governor Eddie George, was the most frequently used word Monday by the central bank heads of the Group of 10 nations in discussing the prospects for the world economy.
SNB sold 7.7 tons gold in 10-day period to 9 Nov
SWITZERLAND - The Swiss National Bank said Monday its gold reserves fell CHF116 million to CHF33.79 billion in the 10-day reporting period to 9 November.