News
Chile central bank sees '01 growth less than 3.7%'
CHILE - Felipe Morande, the Chilean central bank's research director, said in a speech on Wednesday 10 October that the bank sees the country's gross domestic product growing "less than 3.7%" in 2001.
Eurozone interest rates remain unchanged
GERMANY - The European Central Bank (ECB) has left interest rates unchanged, despite growing pressure for a cut to boost the flagging eurozone economy.
ECB Press Conference
PRESS CONFERENCE - Introductory statement by Willem F. Duisenberg, President of the European Central Bank, Christian Noyer, Vice-President of the European Central Bank, Vienna, 11 October.
ECB Press Release
PRESS RELEASE - Monetary policy decisions, 11 October 2001.
Study of asymmetric markets wins economics award
NOBEL PRIZE - Three American economists have been awarded this year's Nobel prize for their work on the advantages enjoyed by sellers over buyers in markets ranging from jobs to crops to second-hand cars.
BoE's Clementi makes no comment on future of rates
UK - Bank of England Deputy Governor David Clementi used a speech on Wednesday 10 October to discuss the international financial system, confounding rumours that he planned to signal the Bank would not cut interest rates again.
Crisis could delay new appointments in Egypt
EGYPT - Some keenly awaited changes in senior positions may have to be deferred in Egypt including the governorship of the Central Bank of Egypt.
NBG to invest half of its international reserves
GEORGIA - In the near future the National Bank of Georgia projects to invest some 50% of the country's international currency reserves in financial instruments /such as treasury obligations/ in two foreign banks, head of the NBG department for currency…
Treasurys O'Neill cancels New York City appearance
US - U.S. Treasury Secretary Paul O'Neill has cancelled a speech he was scheduled to make in New York City today, Thursday 11 October, to attend a cabinet meeting in Washington, a Treasury spokesman said.
Swiss nat bank sells 9 tons gold in last 10-days
SWITZERLAND - The Swiss National Bank sold 8.975 metric tons of gold according to the latest 10-day reporting period ended 30 September, the central bank's statistical report showed Thursday 11 October.
Changes made in NBP management
POLAND - In line with the request made by the chairman of the National Bank of Poland (NBP) Leszek Balcerowicz, president Aleksander Kwasniewski dismissed four management members of the central bank and appointed three new ones.
Fed will have single MICR format in 2005
US - The Federal Reserve announced Wednesday 10 October that it will adopt a single standard for magnetic ink character recognition detail on checks by mid-2005.
Fed best at policy communication? Not necessarily
UK - If you thought the U.S. Federal Reserve was the paradigm of central bank transparency while the European Central Bank struggled to communicate policy, think again. This comes from a recent report entitled "How Do Central Banks Talk?" published by…
Australia RBA Stevens cautious on monetary policy
AUSTRALIA - Reserve Bank of Australia assistant governor Glenn Stevens struck a cautious note on monetary policy in a speech given on Wednesday, indicating that the actual level of interest rates is more important than changes in rates.
London remains dominant financial centre - Report
LONDON - London has retained its dominance as a global financial centre despite the introduction of the euro, according to figures published yesterday by the Bank for International Settlements.
UK accused of being 'money launderers' paradise'
UK - Britain still offers a safe haven for terrorist money and the authorities are doing virtually nothing about it, according to a damning report by a French MP.
Bank of Japan warns on loosening monetary policy
JAPAN - Masaru Hayami, governor of the Bank of Japan, warned yesterday that loosening monetary policy could trigger hyperinflation, highlighting the growing gap between the Bank of Japan's thinking and that of the government and many private sector…
Duma support foreign audit of Russian central bank
RUSSIA - The Duma Banking Committee has approved provisions, "On the organisation of audits of the annual financial statement of the Central Bank."
Thai central bank dep gov may leave Thirachai eyed
THAILAND - Thai central bank Deputy Governor Tanya Sirivedhin, the last of the top executives to have served prior to the July 1997 float of the baht, will resign, "The Nation" newspaper reports in Thailand, citing an unnamed Finance Ministry source.
Pakistan central bank injects liquidity
PAKISTAN - State Bank of Pakistan said Wednesday 10 October it has injected PKR6.7 billion into the money market through one-week repurchase agreements to ease the liquidity situation.
Singapore MAS widen policy band for FX flexibility
SINGAPORE - The Monetary Authority of Singapore said Wednesday 10 October it has decided to widen its policy band to allow a greater flexibility in managing the exchange rate, as it expects more volatility in financial markets.
S&P cuts Argentina's credit rating, bonds fall
ARGENTINA - Standard & Poor's on Tuesday 9 October cut Argentina's long-term sovereign credit rating to sit deep within junk bond territory, saying the government faces severe challenges in balancing its budget.
Bank of France printing employees continue strike
FRANCE - Employees at the Bank of France's printing plant at Chamalieres in the Puy-de-Dome department yesterday continued their strike observed since 12 September.
Rates and price goals in harmony - Hamalainen
GERMANY - European Central Bank executive board member Sirkka Hamalainen said Friday 5 October in a speech that the ECB continues to pursue a "steady-hand" monetary policy, rather than an activist one following the 11 September terrorist attacks in the U…