News
Fed cuts rates but Wall Street plunges
US - Giving a sharp jolt to financial markets, the Federal Reserve cut US interest rates just one hour before the re-opening of Wall Street. (Later shares on Wall Street fell dramatically as the American markets opened after its near week long absence.)
Market fears ahead of US opening
US - Nervousness over the resumption of trading on US stock markets later on Monday has prompted further slides in global share prices.
ECB Duisenberg: Comment on the Fed rate cut
FINLAND - European Central Bank President Wim Duisenberg said Monday 17 September that he had been informed of the U.S. Federal Reserve decision to cut interest rates by 50 basis points, but declined to comment on the ECB's own plans.
BoE/ Fed Rate Cut Suggests no coordinated effort
UK - The Bank of England said Monday 17 September that it does not comment on monetary policy decisions carried out by other central banks.
Takenaka: Can't prejudge what will say at BOJ meet
JAPAN - Japan Economy Minister Heizo Takenaka said Monday 17 September that he will keep an open mind as to what he will say at the Bank of Japan's two-day policy meeting, which starts tomorrow.
Philippines must pass anti-money laundering bill
PHILIPPINES - The Philippine government said today, Monday 17 September, the terrorist attacks in the U.S. make it more urgent for an anti-money laundering bill to be passed in the coming weeks to avoid the threat of international sanctions.
US markets to re-open on Monday
UNITED STATES - Share trading on Wall Street will now restart at 0930 New York time on Monday, the heads of the major exchanges have announced.
O'Neill sees recovery ahead
UNITED STATES - Financial centres are preparing to rescue the global economy.
Central banks boost anti-crisis moves
WORLD - Central banks around the world have stepped up their efforts to minimise the economic and financial-market fallout from the US attacks.
Argentina opens currency squabble
ARGENTINA - Argentine Economy Minister, Domingo Cavallo, has heightened economic tension in Latin America by accusing Brazilians of exacerbating the decline in the real.
New President to Ecuador Central Bank
ECUADOR - The Central Bank of Ecuador has appointed Mauricio Yepez as president, responsible for monitoring the country's economy and monetary reserves.
Banks voice opinion they will ride out the turmoil
UNITED STATES - Banks were quietly confident yesterday that they could survive the financial market implications of Tuesday's attacks.
ECB stresses resilience of US system
EUROPE - The European Central Bank sought yesterday to bolster confidence in world financial markets by saying that Tuesday's terrorist attacks on the US would not damage the US economic system.
ECB Press Release
PRESS RELEASE - ECB expresses its grief and holds interest rates steady for now.
IMF Statement on US tragic events
IMF Statement on Tragic Events in the United States, 12 September
World Bank Extends Sympathy to United States
WASHINGTON, September 12, - The following is a statement issued today by World Bank President James D. Wolfensohn.
OECD Statement on US attacks
Statement issued yesterday by Donald J. Johnston, Secretary General of the OECD, in the wake of the attacks in the U.S.
Bleak outlook persists for Japan
Japan - Japanese exporters continue to suffer as the global economy slows.
Eurozone growth slows to a crawl
EUROPE - Growth in the eurozone has slowed to a crawl, with the likelihood of a sustained slowdown heightened by this week's terrorist attacks on the US, gurus have warned.
IMF meeting 'to be called off'
WASHINGTON - The annual meetings of the International Monetary Fund and World Bank scheduled for the end of this month are almost certain to be postponed, the German finance ministry has said.
Has economic crisis been avoided?
FEATURE - If the reaction of markets so far is anything to go by, the world has avoided the worst case scenario of a global economic meltdown after the terrorist attacks on the US.
NZ reserve bank names monetary policy advisors
NEW ZEALAND - The Researve Bank of New Zealand has announced two new hires.
Ukrainian cb threat to fine banks for risky trade
UKRAINE - Ukrainian central bank threatens to fine banks for risky transactions.
Yugoslavia outlines plans for euro swapover
YUGOSLAVIA - Yugoslavia's central bank said on 13 September it had ordered a euro equivalent of 540 million German marks from the Bundesbank in a first step to reshaping its forex reserves ahead of the launch of euro notes and coins.