News
Minutes of the Monetary Policy Committee meeting
NEWS RELEASE - The Bank of England has published the minutes from its Monetary Policy Committee (MPC) meeting held on 5 and 6 September.
World Bank appoint new country manager to Bulgaria
BULGARIA - The World Bank has announced that Oscar de Bruyn Kops had been appointed World Bank Country Manager to Bulgaria.
History of central bank intervention
UK - Following is a chronology of intervention in foreign exchange markets by central banks from major industrial nations on the dollar, the yen, the German mark and the euro.
HKMA says no evidence of Bin Laden deposits in bks
HONG KONG - Hong Kong's quasi-central bank said Wednesday 19 September it has no evidence that Osama bin Laden, the prime suspect in last week's U.S. terrorist attacks, and his associates are keeping cash in the city's banks.
Welteke: No need to be too pessimistic on economy
GERMANY - Deutsche Bundesbank President Ernst Welteke said today, Wednesday 19 September, cautioned against being overly pessimistic about German economic growth prospects in the wake of last week's terrorist attacks on the U.S.
Pakistan c bank assures liquidity to money market
PAKISTAN - State Bank of Pakistan, the country's central bank, will keep the money market liquid to alleviate any outflows from a treasury-bill auction today, Wednesday, and nervousness from events in Afghanistan, a senior official said Wednesday 19…
Chicago Fed cancels Oct conference on asset prices
US - The Federal Reserve Bank of Chicago said yesterday, Tuesday 18 September, it had cancelled a conference on asset price bubbles that was co-sponsored by the World Bank.
Report - Central banks did not act together
US - Unlike the co-ordinated monetary policy moves that were the hallmark of international economic co-operation of the 1980s, the spate of interest rate cuts that rippled around the world on Monday and Tuesday was not a pre-arranged exercise by G7…
Russians allowed to open accounts in foreign banks
RUSSIA - Russia's Central Bank allowed Russian citizens to open accounts in foreign banks for non-business purposes, according to the CBR ruling, published in CBR's official bulletin today, 19 September. The ruling takes affect in ten days.
US and ECB slash rates 0.5% to stabilise markets
INTEREST RATES - Monday 17 September saw both the ECB and US Federal Reserve cut interest rates by 0.5 percent. The Us move failed to stop substantial falls on the US stock market.
Surprise rise in UK inflation rate to 2.6%
UK - UK inflation has risen much more sharply than expected in August.
World Bank and IMF cancel talks in Washington
US - The World Bank and the International Monetary Fund announced yesterday, Monday 17 September, that they would cancel their annual meetings scheduled for Washington later this month.
Bank of England cuts interest rates 0.25%
UK - The Bank of England Tuesday 18 September said it has cut its repo rate to 4.75% from 5.0% at a special monetary policy committee meeting held Tuesday morning.
Bank of England News Release
NEWS RELEASE - Meeting of Monetary Policy Committee, 18 September
Bank of Japan - News release
NEWS RELEASE - Change in the Guideline for Money Market Operations and Reduction in the Official Discount Rate.
Japan relaxes monetary policy still further
JAPAN - Japan has joined the US, Europe and Canada in easing monetary policy, in an effort to see off recession and calm markets following last week's terrorist attacks.
ECB Press release - Interest rate decision
NEWS RELEASE - Monetary policy decisions, 17 September.
Federal Reserve press release
NEWS RELEASE - Federal Open Market Committee.
Australia RBA says keeps regular policy timetable
AUSTRALIA - The head of Australia's central bank said today, Tuesday 18 September, he had not seen anything in the past week that was urgent enough to warrant a rate cut between regular board meetings. The next board meeting is on October 2.
World Bank and IMF joint statement on meeting
NEWS RELEASE - World Bank Group and International Monetary Fund Will Not Hold Annual Meetings.
IMF loan to secure Brazil
BRAZIL - The International Monetary Fund has approved a $15.6bn stand-by loan for Brazil in the aftermath of Tuesday's attacks on the US.
Central banks act to soften the economic blow
US - The world's central banks and financial regulators have been in constant contact over the weekend to discuss emergency measures to prevent last week's human catastrophe turning into a financial and economic disaster.
Bank of Japan told to ease liquidity
JAPAN - Masajuro Shiokawa, Japan's finance minister, yesterday, Sunday 16 September demanded that the Bank of Japan implement more monetary easing to combat any possible economic downturn as a result of last week's terrorist attacks.
Russia ponders measures to boost banking sector
RUSSIA - Russia is considering the creation of a deposit protection scheme and measures designed to increase competition within the country's poorly developed banking sector, under reform plans being drawn up for cabinet discussion this month.